BLOCKCHAIN BASED SOLUTIONS FOR SECURITY LABELS MARKET ANALYSIS

Market Challenges And Opportunities

• High research and development cost of security labels

Data breach is a major challenge faced across the global security labels market, as security labels are integrated with data about the product manufacturer, authentication code, among other. If data from the label is hacked or breached during the supply chain of the product, it may lead to duplication of the security label and counterfeiting of the product. Moreover, data breach may cause damage to the brand name and reputation, and loss of customer trust. Adoption of security labels is also costly, as various software and hardware have to be installed in packaging process.