Global Track and Trace Solutions Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Track and Trace Solutions Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global track and trace solutions market report has been segmented on the basis of solution type, technology, application, end use industry, and region.

Global Track and Trace Solutions Market: Overview

The track and trace solutions are widely used over distribution networks for efficient management of supply chain and logistics that are prone to products counterfeiting.

Global Track and Trace Solutions Market: Dynamics

Growing demand for track and trace solutions from various industries owing to transparency feature offered via real-time centralized platform using these solutions for information sharing is a key factor expected to drive growth of the target market over the years to come.

In addition, increasing need for implementation of serialization technology and methodology in supply chain management by various manufacturing and packaging industries is among some major factor expected to support growth of the global market.

Moreover, increasing focus of manufacturers on brand protection and products loss in developing regions is resulting into high adoption of track and trace solutions. In addition, traceability solution approach such as forward traceability, backward traceability, and recall management that are offered by track and trace software solutions are among some other factors expected to fuel growth of the global market.

However, high cost associated with serialization and aggregation of track and trace software implementation and deployment solutions among developing countries is a major factor expected to restraint growth of the target market to a certain extent.

Global Track and Trace Solutions Market: Opportunities and Trend

Increasing R&D activities for technological advancement across various industrial verticals and increasing number of manufacturing industries in developing regions are factors expected to create significant revenue growth opportunities for prominent and new entrée players in the global track and trace solutions market in the coming 10 years.

Global Track and Trace Solutions Market: Segment Analysis

The RFID segment in technology segments is expected to growth at highest CAGR and is expected to register dominating share the global market during the forecast period. The growth of the RFID segment is primarily attributed to growing demand for point-of-care solutions, automated pharmaceutical distribution, and electronic medical records systems.

Moreover, among end user segments, the pharmaceutical segment is expected to contribute significant revenue share over the forecast period. This is attributed to increasing pharmaceutical spending and number of counterfeit drugs in developed and developing regions.

Global Track and Trace Solutions Market: Regional Analysis

The North America market is expected to dominate in terms of revenue in the global market followed by the market in Asia Pacific region. Furthermore, market in Europe is expected to register highest CAGR in the global market, owing to increasing demand for track and trace solutions that secure packaging and distribution, and manage supply chain efficiency.

Whereas, market in Latin America is expected to register lucrative growth in terms of revenue in the global market, followed by market in the Middle East & Africa.

Global Track and Trace Solutions Market Segmentation:

Segmentation by Solution Type:

• Software
• Hardware

Segmentation by Technology:

• 2D Barcodes
• Linear/1d Barcodes
• Radiofrequency Identification (RFID)

Segmentation by Application:

• Serialization Solutions
• Aggregation Solutions
• Tracking, Tracing, & Reporting Solutions

Segmentation by End Use Industry:

• Retail and Manufacturing
• Cosmetic Industry
• Medical Device
• Pharmaceutical and Biopharmaceutical
• Others (Oil & Gas, BFSI, IT, E-Commerce, etc.)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Axway, Inc.
• Antares Vision S.R.L.
• Optel Group
• TraceLink, Inc.
• SEA VISION S.r.l.
• Siemens Corporation
• Zebra Technologies Corporation
• Körber Medipak Systems GmbH
• Adents High Tech International SAS
• ACG Worldwide Private Limited
• Mettler-Toledo International, Inc.