Global Track and Trace Solutions Market
Global Track and Trace Solutions Market

Global Track and Trace Solutions Market is expected to rise estimated value $6.00 billion forecast by 2026

 

Definition:

In the distribution and logistics of many types of products, track and trace or tracking and tracing, concerns a process of determining the current and past locations of a unique item or property.

Analysis of Global Track and Trace Solutions Market report:

Global track and trace solutions market is expected to rise to an estimated value of USD 6.00 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing awareness regarding the protection of unique medical products as well as the increasing commercialization of medical devices globally.

        

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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

 

Leading Key players profiled in this report are:

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.

Global Track and Trace Solutions Market Segmentation:

By Product

  • Software

o   Plant Manager

o   Line Controller

o   Enterprise & Network Manager

o   Bundle Tracking

o   Case Tracking

o   Warehouse & Shipment Manger

o   Pallet Tracking

  • Hardware Components

o   Printing & Marking

o   Barcode Scanners

o   Monitoring & Verification

o   Labelers

o   Checkweighers

o   RFID Readers

  • Standalone Platforms

By Application

  • Serialization

o   Carton Serialization

o   Bottle Serialization

o   Medical Device Serialization

o   Blister Serialization

o   Vial & Ampoule Serialization

o   Label Serialization

o   Data Matrix Serialization

  • Aggregation

o   Case Aggregation

o   Pallet Aggregation

o   Bundle Aggregation

  • Tracking, Tracing & Reporting

By Technology

  • Real-Time Locating System (RTLS)
  • 2D Barcodes
  • Radiofrequency Identification (RFID)
  • Linear Barcodes

By End-User

  • Pharmaceutical & Biotechnology Companies
  • Medical Device Companies
  • Cosmetic Industry
  • Food & Beverages
  • Consumer Goods
  • Luxury Goods
  • Others

By Geography

  • North America
  • South America
  • Europe
  • Asia-Pacific

Competitive Analysis:

Global track and trace solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of track and trace solutions market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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The Global Track and Trace Solutions Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Track and Trace Solutions Market. The industry changing factors for the market segments are explored in this report.  This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.

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