Market analysis finds partnerships go hand in hand with authentication technology
Released 18th Jan 2011
Research commissioned by Ingenia Technology identifies new business opportunities for its novel authentication technology enabling robust multi-layered approaches to anti-counterfeiting and diversion to be provided for brand owners
Ingenia Technology, a provider of innovative anti-counterfeiting and anti-diversion technology, today announces the results of research it commissioned to provide market insight into the trends and commercial opportunities in the anti-counterfeiting technology sector. The study was carried out by Cambridge Consultants with specific reference to Ingenia’s novel Laser Surface Authentication (LSA™) technology and concluded that, with the anti-counterfeiting technology market steadily growing, partnerships represent an attractive route for generating new business and an opportunity for establishing new business models and strategies in the sector.
Counterfeiting has become a highly sophisticated and lucrative global operation and is a threat to many industries from pharmaceutical and biotechnology businesses to fast moving consumer goods (FMCG) in terms of the revenues lost and potential brand damage. However, the study found there is a lack of standard business models in the anti-counterfeiting market as each anti-counterfeiting solution is often specifically tailored to meet individual client needs. Instead, the study found that partnerships offer an opportunity to create new business models for this market, as well as providing an avenue for adding value to existing anti-counterfeiting technologies.
“The anti-counterfeiting community increasingly acknowledges there is no ‘silver bullet’ brand protection technology able to provide a robust solution against counterfeiting. In response, companies and brand owners are looking to invest in multi-layered approaches combining overt, covert and forensic technologies for effective solutions,” commented Kate Farmer, Senior Consultant at Cambridge Consultants. “This approach has opened up new business development opportunities for the anti-counterfeiting technologies, market – opportunities that genuinely innovative solutions like Ingenia’s LSA™ technology are well positioned to exploit.”
Ingenia Technology’s LSATM technology scans the surface of products to generate an intrinsic ‘fingerprint’ of each item. Using a secure database and field scanners, each product can be authenticated anywhere in the world and traced through the entire supply chain.
“Cambridge Consultants has evaluated our LSA™ technology, finding that it represented a new generation of innovative security technologies; designed to be simple but deeply covert and giving absolute authentication and traceability for products and documents. Our own insight also suggests that a new approach to business will enable LSA™ to further achieve broad market acceptance,” said Andrew Gilbert, Business Development Director of Ingenia technology. “Having been active in the area of authentication system development and consultancy for the last twenty years, Cambridge Consultants is uniquely positioned to advise technology and solution providers like us and the insight from this study has helped direct our strategy so that we will see deployments of LSA™ ramp up significantly in 2011. This is already underway with the signing of three significant partnership agreements in the second half of 2010.”
Cambridge Consultants’ capabilities to design, manufacture and test secure products and systems are based on twenty years’ experience in developing authentication and secure systems for its customers and delivering strategic direction within their respective markets. The company’s approach, across a wide range of technical disciplines, is supported by its experience of working with a variety of clients from blue-chip companies to early stage start-up companies across numerous industries covering defence and security, consumer products, industrial products, fast-moving consumer goods, wireless products and services, utility metering, pharmaceutical and biotechnology, banking and finance, and medical products.