Global Statistics Representing Brand Protection Software Market Scenario
Evolutionary advances in the internet have profoundly affected the manner in which business is carried out and provided an exceptional opportunity for several third party organizations to attack brands with ease on a global scale. Social media platforms are now open to a barrage of problems such as phishing, piracy & fraud, counterfeiting, and impersonation. In light of this, business organizations are seeking brand protection solutions to avoid the negative and everlasting impact of such issues on consumer trust and market goodwill.
The brand protection software market is estimated to grow at a CAGR of 15.1% during the forecast period, 2019–2026.
Brand protection solutions safeguard customers from counterfeited goods, maintaining the desirability of the brand, its external perception, and presence. The duration of 2017–2018 observed significant adoption of these solutions across regions.
Rise in Unauthorized Access from Third-Party Developers to Cater Opportunities for Mobile App Monitoring
- The current online market space is embracing opportunities associated with e-commerce, and counterfeiters are leveraging consumer demand through new counterfeit mobile platforms
- Infringing activities are gradually shifting to mobile messaging apps such as WhatsApp and Viber; for instance, according to a study by ‘Onsist’, a leading brand protection company, 75% of free iOS apps have been hacked
- In such cases, mobile app monitoring solutions actively scan mobile app stores to safeguard brand reputation and customers alike by detecting brand impersonation and associated malware
Cost Savings in Cloud Deployment to Contribute to the Segment’s Substantial Market Share
- Cloud software is offered on a monthly or annual subscription basis, with additional recurring fees for support, training, and updates
- Cloud deployment of brand protection software solution saves the cost of managing and maintaining IT systems
- Large companies are eager to adopt cloud-based brand protection software solutions as compared to smaller companies who remain apprehensive; for instance, Lucid Software Inc. estimated that 51% of large and mid-sized companies plan to increase cloud spending, against 35% of smaller ones
Other Key Observations by Segment
- The retail sector incurs colossal losses, burdened by increasing online brand abuse activities; players in the sector must rely on brand protection software solutions to protect their interests
- Among all the channels, the third party sale of brand protection software is observed to be gaining momentum
- Brands are undergoing digitalization in a bid to sustain competition and retain customers, which has further intensified the need for brand protection
APAC to Register a 16.7% CAGR, Backed by an Evolving Internet Landscape and Advancements in Mobile Technology
- Colossal growth of digital technology has incited the transition of consumer buying behavior from offline stores to online
- While online platforms offer a massive marketplace, they also create tremendous scope for counterfeiting and subsequently, result in heavy economic losses
- To better tackle challenges posed by counterfeiting, organizations are strengthening brand protection measures, providing impetus to the brand protection software market
Chinese Counterfeit Products to Flood North America, Providing a Filip to the Demand for Brand Protection Solutions
- Chinese counterfeit products pose a grave threat to North American brands; Hong Kong and China collectively account for 87% of the counterfeit goods seized in U.S. e-commerce shipments
- The volume of counterfeit products entering the region is massive and yet growing year on year, which further exacerbates the issue
- Transnational criminal organizations are shipping illicit goods to the U.S. via small packages due to a perceived lower interdiction risk and less severe consequences if the package is interdicted
Other Key Observations by Region
- Europe is home to a number of countries that import counterfeit goods, which marks the region as a potential market for brand protection software
- Brazil, one of the larger contributors to e-commerce sales in Latin America, has a flourishing market for counterfeit products, indicating room for the adoption of brand protection software solutions
Some of the major players covered in the report are Numerator, OpSec Security, PhishLabs, Red Points, Pointer Brand Protection, Resolver, RiskIQ, Ruvixx, Inc., Yellow Brand Protection, Zacco, AppDetex, BrandVerity, CSC, Enablon, Fakr & Scout, Hubstream, Inc., Incorpo, i-Sight, MarkMonitor, and Marketly.
The mentioned companies are concisely studied in the report, covering recent developments, financial prospects, product portfolios, geographical strength, and respective business strategies.
Brand Protection Software Market Segmentation
- Large enterprises
- Small- & medium-sized enterprises
- Direct sales
- Domain monitoring
- Mobile-app monitoring
- North America
Why Buy This Report?
- The report covers a detailed analysis of counterfeiting’s economic impact on a global scale
- It primarily focuses on Asia-Pacific and LAMEA, where both counterfeiting and the retail sector are gaining prospects
- The report also includes a brief study on noteworthy market segments
- It analyzes several norms and regulations based on counterfeiting at a country level