The global track and trace solutions market grew at a CAGR of around 15% during 2015-2020.
Track and trace (T&T) solutions help organizations in managing their supply chain and mitigating risks associated with counterfeit products. They offer transparency, product ID verification services, facilitate the hassle-free movement of products, and assist in the management of packaging and logistics. Consequently, T&T solutions are utilized for both personal and business purposes as they save fuel and insurance costs, provide customer services and offer the latest information via SMS alerts or emails. At present, they are gaining prominence for monitoring supply chain in different end use industries.
One of the primary factors bolstering the market growth includes the availability of the latest technologies for T&T activities. For instance, barcode technology is widely being adopted as a T&T solution on account of its various benefits, including improved stock visibility, reduced disparities in cost, and ensured safety and compliance. Similarly, radio-frequency identification (RFID) is also gaining popularity as another T&T solution as it utilizes transmitter-receiver systems for contact-free identification and locates objects and living beings using radio waves. Furthermore, government authorities of various countries are providing legislative support to companies dealing with counterfeit activities, which, in turn, is strengthening the market growth across the world. Other major factors anticipated to foster the market growth include the burgeoning pharmaceutical and biotechnology industries and the escalating demand for aggregation systems and automated serialization in the healthcare industry. Looking forward, the analyst expects the global track and trace solutions market to continue its strong growth during the next five years.
Key Market Segmentation: the analyst provides an analysis of the key trends in each sub-segment of the global track and trace solutions market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, technology, application and end use industry.
Breakup by Product: Hardware Printing and Marking Solutions Monitoring and Verification Solutions Labelling Solutions Others Software Plant Manager Software Line Controller Software Bundle Tracking Software Others
Breakup by Technology: Barcode RFID Others
Breakup by Application: Serialization Solutions Bottle Serialization Label Serialization Carton Serialization Others Aggregation Solutions Bundle Aggregation Case Aggregation Pallet Aggregation
Breakup by End Use Industry: Pharmaceutical Medical Device Food and Beverages Cosmetics Others
Breakup by Region: North America United States Canada Asia-Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Others Middle East and Africa
Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players being ACG Worldwide, Antares Vision S.p.A., Axway, Mettler-Toledo International Inc., Optel Vision Inc., Robert Bosch GmbH, Seidenader Maschinenbau GmbH (Körber AG), Siemens AG, Sys-Tech Solutions Inc. (Dover Corporation), TraceLink Inc., Uhlmann Group and Zebra Technologies Corporation.
Key Questions Answered in This Report: How has the global track and trace solutions market performed so far and how will it perform in the coming years? What has been the impact of COVID-19 on the global track and trace solutions market? What are the key regional markets? What is the breakup of the market based on the product? What is the breakup of the market based on the technology? What is the breakup of the market based on the application? What is the breakup of the market based on the end use industry? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the industry? What is the structure of the global track and trace solutions market and who are the key players? What is the degree of competition in the industry?
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