Track and Trace Solutions Market Expected to Boost the Global Industry 2016-2023

Track and trace solutions are concerned with the distribution and logistics of wide range of products, which facilitates to locate the present and previous location of the object of interest. The major technologies used to track the delivery of the products include radio-frequency identification (RFID) and barcodes. Recently, there is an increase in the product recall, which resulted into development of software, hardware, and consulting systems by the manufacturers of track and trace systems. These products offer wide range of solutions for tracing products catering to diverse industries.

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The global track and trace solutions market is expected to witness significant growth during the forecast period due to factors such as increase in adoption of track and trace solutions by medical device and pharmaceutical manufacturers to overcome the issue of drug counterfeit and structured regulatory framework & implementation of standards. Although these factors garner the growth of the market, high installation cost associated with serialization and aggregation solutions majorly hinder the market growth.

The track and trace solutions market is segmented based on product type, technology, application, end user, and geography. Based on product, the market is bifurcated into hardware systems and software solutions. The hardware systems market is further classified into printing & marking solutions, monitoring & verification solutions, labeling solutions, and others. The software solutions market is sub-segmented into plant manager software, line controller software, bundle tracking software, and others. Based on technology, track, and trace solutions market is segmented into barcode and RFID. Based on applications, the market is segmented into serialization and aggregation solutions. The serialization solutions market is further classified into bottle, label, carton, and data matrix serialization. The aggregation solutions market is sub-segmented into bundle, case, and pallet aggregation. Based on the end user, the market for track ad trace solutions is classified into pharmaceutical manufacturers, medical devices manufacturers, and others. The market is analyzed based on four geographical regions, which include North America, Europe, Asia-Pacific, and LAMEA.

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The major players in the track and trace solutions market include Mettler-Toledo International, Inc., Axway, TraceLink, Inc., Optel Vision, Adents International, Siemens AG, Seidenader Maschinenbau GmbH, and others.

Key Benefits

• This report provides an extensive analysis of the current and emerging market trends and dynamics in the global track and trace solutions market.
• Comprehensive analysis of geographical regions is provided to determine the prevailing opportunities in the global market.
• This study provides the competitive landscape of the global market to predict the competitive environment across geographies.
• This report entails the detailed quantitative analysis of the current market and estimations from 2016 to 2023 to identify the prevailing opportunities.
• Comprehensive analysis of factors that drive and restrict the market growth is provided in the report.
• Market conditions are comprehensively analyzed in the report to understand the regional trends and dynamics.

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