Press release
Global Track and Trace Solutions Market Expected to Witness a Sustainable Growth over 2023
In 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 (and other information) of a unique item or property.
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Global Track and Trace Solutions Market: Forecast by Type / Application / Region
Geographically, North America dominated the global healthcare track and trace solutions market in 2015. The large share of this region can be attributed to presence of developed healthcare systems in the U.S. & Canada and growing R&D spending on pharmaceuticals & biotechnology in this region. The Asia-Pacific region is expected to register the highest CAGR, due to the growth in research activities & pharmaceutical manufacturing and increasing investments by leading players and respective government agencies in the region.
There are companies adding new technology and aims at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality.
Some major players catering to the track and trace solutions market are Axway; Mettler-Toledo International, Inc.; Optel Vision; TraceLink, Inc.; Adents International; Antares Vision srl; Siemens AG; Seidenader Maschinenbau GmbH; ACG Worldwide; and Systech, Inc. There are various small and large manufacturers offering products for tracking and tracing applications, resulting in intense competition among vendors. The vendors are increasing their focus on strategic partnerships with their consumers and are collaborating with other vendors in the sector. Mergers and acquisitions is another major strategy applied by vendors to get maximum revenue share in this sector. For instance, in June 2016, Recipharm, the contract development and manufacturing organization, announced global partnership with SEA Vision, Marchesini, and TraceLink to introduce new serialization capabilities.
Over the next five years, LPI(LP Information) projects that Track and Trace Solutions will register a 16.6% CAGR in terms of revenue, reach US$ 3470 million by 2023, from US$ 1380 million in 2017.
Global Track and Trace Solutions Market: Key Players
Axway Inc
Adents Internationa
Optel Vision
Mettler-Toledo International
Systech
TraceLink
Antares Vision
Xyntek
Sea Vision Srl
Siemens AG
Seidenader Maschinenbau GmbH
ACG Worldwide
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Related Information:
United States Track and Trace Solutions Market Research Report 2018
Europe Track and Trace Solutions Market Research Report 2018
North America Track and Trace Solutions Market Research Report 2018
Asia-Pacific Track and Trace Solutions Market Research Report 2018
China Track and Trace Solutions Market Research Report 2018
EMEA Track and Trace Solutions Market Research Report 2018
Global Track and Trace Solutions Market Research Report 2018
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