The global demand for Track and Trace Solutions Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026.
Track and Trace solutions refer to the strategies employed to identify past and current whereabouts of the products. Majorly, the technologies utilized to incorporate track and trace solutions are barcodes and RFID. The growing rate of product recall is attributed to the development and progress of the system.
The key growth drivers of the track and trace solutions market are associated benefits, that include management solutions for the packaging and logistics sector, product ID verification services, and trouble-free movement of products within the distribution channel. The global track and trace solutions market is attributed to growing progressively on account of the rising application of these solutions in pharma and medical device companies. However, high implementation costs and a dearth of unified global standard regulations for serialization is assessed to limit the growth of this market. The ongoing pandemic COVID-19 has resulted in factoring in macroeconomic conditions, the businesses are witnessing a shift in consumer demands, thereby acting as a grave challenge for the track and trace solutions market. On the other hand, the risk involved with counterfeit packaging creates lucrative prospects for this market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of track and trace solutions.
The entire track and trace solutions market has been sub-categorized into product type, technology, application and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Product Type
- Hardware Systems
- Printing & Marking Solutions
- Labeling Solutions
- Monitoring & Verification Solutions
- Software Solutions
- Line Controller Software
- Plant Manager Software
- Bundle Tracking Software
By End User
- Serialization Solutions
- Label Serialization
- Bottle Serialization
- Data Matrix Serialization
- Carton Serialization
- Aggregation Solutions
- Case Aggregation
- Bundle Aggregation
- Pallet Aggregation
- Pharmaceutical Companies
- Healthcare Others
- Consumer Packaged Goods
- Medical device Companies
- Luxury Goods
- Food and Beverage
This section covers regional segmentation which accentuates on current and future demand for track and trace solutions market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Track and Trace Solutions Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the track and trace solutions market include Mettler-Toledo International, Inc., Antares Vision srl, Siemens AG, Axway, Seidenader Maschinenbau GmbH, Adents International, Systech, Inc., Optel Vision, TraceLink, Inc. and ACG Worldwide. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.