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Global losses due to product & brand related piracy are running into several hundred £billions per year today ... and growing significantly year on year.
The world of product related crime continues to expand and mutate rapidly. There are a number of drivers, but the following two primary forces in particular have been causing accelerated growth of counterfeit parts finding their way in to global supply chains.
- The economic boom of China and the shifting of many Western manufacturing operations to China coupled with the fact that China has become the number one counterfeiter in the world both for exports and within their own home market
- The rapid growth of the internet as a tool for buying and selling almost anything worldwide – Face to face transactions are not required and the anonymity that can be maintained suits counterfeiters well. Neither may products be inspected prior to delivery.
With the market for Brand Protection Solutions still only representing a mere one half of one percent of the total financial losses being suffered annually, there are major potential opportunities for innovative suppliers of solutions and thus pro-active involvement of packaging & label companies in security issues and value added security products is increasing.
IPI (Europe) Ltd is a major contributor to a report ‘RFID and NFC meet BRAND PROTECTION’ due to be published in January 2010 by Vandagraf International
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