23 Sep
2015
Today, the automobile and electronic component market observes a growth of counterfeit parts invading the supply chain. Customer’s now want to be confident that the parts they purchase is authorized and genuine. Last month goods, including car parts worth US $60 million were distained in an operation in the Caribbean. In a similar incident the in May, the US officials had seized over 3,260 automobile parts, while inspecting a batch of imported goods in Fort Everglades. The United States, Custom and Border Protection officials confirmed that the retail price of the parts if they were not fake would be approximately $280,000.
South African attorney and counterfeiting expert Nishan Singh at Adams & Adams says "The growth of counterfeiting has been so exponential that certain industries find themselves in direct competition with the counterfeiters. Advances in technology, increased international trade and emerging markets are factors that have contributed to the rapid increase in the prevalence of counterfeiting.” Counterfeiting of the auto and electronics parts is an increasing global issue, with fake components, IP theft as well as trademark infringements estimated to rise between 5 – 7 percent of the total global trade business.
Therefore faced with tremendous pressure from the end-customers, health officials and regulatory bodies’ brands have now embraced no tolerance, anti-counterfeit policy. Likewise anti-counterfeiting technologies and collaborations are being backed worldwide to save the supply chain of the genuine auto and electronics part manufacturers. The anti-counterfeit global player Philips has invested great deal of resources, time and funds to improve the design of their anti-counterfeit packaging solution.
For this the company was also felicitated at the Automotive Communication Best Packaging Award. Commenting on this GM of Philips Business Group Automotive N.A, Dennis Samfilippo, "We are extremely delighted to be the recipient of two prestigious awards. We are proud of all of the hard work conducted by our entire team to make both of these products a success in the marketplace.” He explained “Our Anti-Counterfeit packaging was designed to protect Philips consumers and our innovative Vision LED line is a breakthrough in vehicle lighting technology. Our entire team is excited about the recognition and the awards that all of their hard work have brought."
In another incident in May 2015 DataDot Technology announced Vietnam Institute Of Anti-Counterfeiting Technology as their new agents for DataDot DNA as well as DataTraceDNA solution. According to a report published by Allied Market Research titled “World Anti-Counterfeit Electronics and Automobiles Packaging - Market Opportunities and Forecasts, 2014 – 2020,” the anti-counterfeit electronics and auto segment would observe a CAGR of 10.1 percent during the forecast period 2015 to 2020.
Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelors degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
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