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Global Track and Trace Solutions Market Growing Rapidly by Rising COVID 19 Trends, Technological Advancements and Growth Report 2020-TraceLink; ACG; Adents; Körber AG; Siemens AG; Systech International

Data Bridge Market Research analyses that the market is growing with a CAGR of 10.5% in the forecast period of 2020 to 2027 and is expected to reach USD 5,692.30 million by 2027

Data Bridge Market Research’s Latest Study on “ Track and Trace Solutions Market” report 2020-2027 provides an Overview of the current market situation, competitive analysis, product scope, market research, opportunities, driving force, and market risks. The report contains market forecast to 2027 related to market size, Consumption, gross margin, price, revenue, production, CAGR and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The Track and Trace Solutions market report provides a basic overview of the industry, including definitions, classifications, applications, and chain structures. Track and Trace Solutions market analysis is provided to international markets, including development trends, competitive environment analysis, and key regions development status.

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Few of the major competitors currently working in the global track and trace solutions market are Antares Vision; Axway; METTLER TOLEDO; OPTEL GROUP; TraceLink; ACG; Adents; Körber AG; Siemens AG; Systech International; Robert Bosch Packaging Technology GmbH; Zebra Technologies Corp.; Uhlmann; RFXCEL CORP.; Weber Marking Systems GmbH; Marchesini Group S.p.A.; Global Healthcare Exchange, LLC; PharmaSecure Inc. and Zetes among others.

Market Drivers

    • Increasing prevalence of regulations for the implementation of unique identification methods for products from the authorities are factors driving the growth of the market
    • Increasing number of products being recalled by various manufacturers and healthcare companies requiring better inventory management; this factor is expected to drive the growth of the market
  • Increasing prevalence of generic and over-the-counter medicine products is also expected to drive the growth of the market
  • Rising prevalence of counterfeit medical products and pharmaceuticals flooding the market

Market Restraints

  • Large financial costs associated with the establishment and operations of these solutions is expected to restrict its complete adoption
  • Increasing consumption of resources to implement the components required for the functioning of this solution is expected to hinder the growth of the market

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Some of the key market developments are as follows:

  • In October 2018, rfxcel announced the extension of their track and trace solutions service for food & beverage applications. This solution will provide better traceability solutions for the industry as rfxcel ensures that their solution can providing complete transparency during the entire supply chain by offering users with food & beverages traceability, serialization processing, ingredients traceability, finished goods traceability, compliance management, blockchain enabler and environmental monitoring
  • In August 2017, Monotech Systems Ltd. announced the availability of “JETSCI Track and Trace Solution”, providing complete solutions for workflow management such as designing of software for security, conversion of printing lines to enhance the tracking capabilities along the entire manufacturing and logistics workflow. This solution can be implemented across pharmaceuticals, alcohol & beverages, perishable & non-perishable products, automobile, cosmetics, electronics and various other applications

Segmentation: Global Track and Trace Solutions Market

By Product

(Software; Hardware Components; Standalone Platforms);

Application

(Serialization; Aggregation; Tracking, Tracing & Reporting);

Technology

(RTLS; 2D Barcodes; Radiofrequency Identification (RFID); Linear Barcodes);

End-User

(Pharmaceutical & Biotechnology Companies; Medical Device Companies; Cosmetic Industry; Food & Beverages; Consumer Packaged Goods; Luxury Goods; Others);

Geography

(North America; Europe; Asia-Pacific; South America; Middle East and Africa)

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Highlights of the Study

  1. To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders
  2. To describe and forecast the market, in terms of value, for various segments, by region North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  3. Key parameters which are driving this market and restraining its growth
  4. What all challenges manufacturers will face as well as new opportunities and threats faced by them.

Learn about the market strategies that are being adopted by your competitors and leading organizations

About Data Bridge Market Research

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