The global track and trace solutions market size reached US$ 3.8 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 7.6 Billion by 2027, exhibiting a CAGR of 12.25% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
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.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global track and trace solutions market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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?
Frequently Asked Questions about the Global Track and Trace Solutions Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 147 |
| Published | October 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD
| USD 3.8 Billion |
| Forecasted Market Value ( USD
| USD 7.6 Billion |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Track and Trace Solutions Market
6 Market Breakup by Product
7 Market Breakup by Technology
8 Market Breakup by Application
9 Market Breakup by End Use Industry
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
- Zebra Technologies Corporation.
Methodology
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