Investment in materials and technologies alongside new applications, is driving growth for holography in India, says Dr Paul Dunn, chair of the International Hologram Manufacturers Association (IHMA).
Demand continues to strengthen the market in India for holography as we see continued integration of holography alongside other authentication and track and trace technologies driving growth. In turn, this will herald sustained growth and progress, revealing a technology set to forge ahead in the coming years; underpinning moves to support overt and covert protection strategies by authorities, local government and law and enforcement agencies seeking quick and effective security solutions.
Indeed, it is throughout Asia, where counterfeiting remains pervasive, where we can see unmitigated commercial potential for holography. India will continue to offer widescale growth as law enforcement and national government intensify their war on counterfeiting and the supporting criminal infrastructures - it’s expected increased integration of holograms in these territories as part of brand protection strategies will be adopted by those looking to tackle the problem. With several regulatory bodies in India and abroad laying out stringent rules and standards and manufacturers realising the importance of authentication, the business is set to grow, providing growth opportunities for existing and even new entrepreneurs.
This comes as law enforcement agencies such as Europol and EUIPO have issued fresh warnings over counterfeit goods, particularly the international trade in falsified pharmaceuticals, which is worth in excess of $4bn. The World Health Organisation has also warned about the increase in illicit medicines linked to coronavirus on sale throughout countries like India, where counterfeiters are exploiting gaps in the market.
Holograms can be effective in the frontline fight against counterfeiters and fraudsters, protecting brands and profits and reassure those in the supply chain with their presence on products, recognising the security and financial benefits provided. Growth in India’s market for authentication devices appears also to be strong and lucrative following forecasts that the global market for anti-counterfeiting packaging will reach upwards of US$ 250 bn by 2026. This is primarily due to the rise in healthcare concerns, higher adoption rates of anti-counterfeit technologies and growing awareness of tracking and tracing technologies.
