The Global Brand Protection Software Market was valued at USD 162.14 Million in 2019 and is projected to reach USD 780.30 Million by 2027, expanding at a CAGR of 21.6% during the forecast period. Brand protection software manages online information about a company’s products and services, analyzing online product, and pricing details to ensure information is accurate and complies with corporate standards. Brand protection software is used by companies that work with resellers, where it is normally difficult to control product and brand information on partner websites. These systems are used by product managers to monitor resellers, enforce brand rules and policies, and identify violations. Brand protection software is delivered as a standalone product and integrates with pricing software or e-commerce platforms. Integration with product information management (PIM) software is important to provide product and pricing details. There is increase in the need for authentication and brand protection.
Market Dynamics
Product counterfeiting is a form of consumer fraud, in which the product is sold and purporting to be something that it is not. A counterfeit is illegally made. They resemble genuine goods but are lower quality, in terms of performance, reliability, and durability. However, brand awareness has been one of the rigid things to measure, in which brand protection software helps to protect brand from fraud are expected to fuel the market, significantly boosting the need for brand protection software. Conversely, changing government rules and regulations on regular base and web traffic detention schemes is projected to impede the market growth.
click For Free Sample Report – https://growthmarketreports.com/request-sample/147
Segmental Outlook
On the basis of industries, the Global Brand Protection Software Market is segmented as IT & telecom, media and entertainment, energy and utilities, consumer goods and retail, healthcare, BFSI, and others. In terms of value the consumer goods and retail segment is anticipated to expand at a CAGR of 23.7% during the forecast period as a result of the significant brand offering through consumer goods and products industries is fuelling segment growth in the region. In terms of value the IT & telecom segment is estimated to hold 26.2% share of the market in 2020 as increasing government spending on multiple industry. Moreover, for the security of banking and financial applications such as, online banking, trade finance, core banking other banking cards personalization systems and financial services, brand protection software plays an important role. The healthcare segment in terms of value is estimated to hold 10.8% share of the market in 2021 as fake pharmaceutical is one of the most profitable sectors of the global trade in illegally copied goods. Fake drugs harm and even kill millions of people across the world. It inflicts serious damage on the brand names of big pharmaceutical manufacturers.
Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is a promising region for the market. In terms of value the region constituted significant share of the market in 2020 due to increasing North America is expected to hold the largest market share during the forecast period. This is due to the presence of large managed security services providers, and stringent data security regulations and compliance in the region.
Competitive Landscape
- Key players in the market include OpSec, Incopro, Red Points, Coresearch, and RiskIQ. These companies are considered manufacturers of brand protection software based on their revenue, research development (R&D) activities, regional presence, and value chain management system.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the brand protection software is added in the company’s capacity.
- In January 2020, OpSec acquired MarkMonito, a provider of anti-counterfeiting and brand protection solutions to expand its product offering in brand protection software. Additionally, this acquisition helped OpSec increase its customer base in the US.
- Focus IP, Inc., engages in partnership with other companies to provide multiple platform for software development. Some of the platform provided by the company include, multi-channel coverage and correlation, risk data scanning, centralized workflow management, analytics and visualization, bulk takedown submissions, and threat mapping engine.
About Growth Market Reports:
GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: sales@growthmarketreports.com
Web: https://growthmarketreports.com
Follow Us: LinkedIn | Twitter
0
