Track and Trace Solutions Market To 2027 - New Opportunities with key players:-OPTEL GROUP,Axway,Körber Medipak Systems AG,ZIH Corp.

The global track and trace solutions market accounted to US$ 1,728.3 Mn in 2018 and is expected to grow at a CAGR of 15.3% during the forecast period 2019 – 2027, to account to US$ 6,049.0 Mn by 2027.

The Asia Pacific track and trace solutions market is expected to grow at highest rate during the forecast period owing to developments in the healthcare systems and industries, rise in the product innovations in China, rise in programs and initiatives in countries. In addition, emergence of new local players with competitive product portfolio are expected to fuel the market growth in Asia Pacific region.

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The importance of brand protection is not new to the industry, customers' increasing access to information requires even greater focus by companies to protect their brands and work to maintain and build customer trust. This customer trust is a foundation upon which companies live. The damage to the image of brand often occurs through product related crime, with sub-standard or dangerous counterfeits and/or products that have been subject to tampering. Sometimes, these events have catastrophic results.

The pharmaceutical companies are focused on spending important marketing dollars in creating their brands in a shrinking new drug supply market, but forgot to give attention for the protection of these same brands. Brand protection solutions are viewed as a cost of goods sold (COGS) rather than a value by which they provide both the brand and the brand owner a significant image advantage and thereby increased the market. This COGS thought process forces the decisions to adopt anti-counterfeiting measures or to secure supply chains only when a particular brand is directly affected. Thus, owing to these factors the market for the track and trace solutions is likely to propel at a significant rate during the forecast period.

Leading Track and Trace Solutions Market Players:
• OPTEL GROUP
• Axway
• Körber Medipak Systems AG
• ZIH Corp.
• Siemens AG
• TraceLink
• Antares Vision
• RFXCEL CORP.
• SEA VISION S.r.l.
• Adents

The track and trace solutions market by product is segmented into software and hardware. In 2018, the software segment held a largest market share of 57.2% of the track and trace solutions market, by component. The software segment is expected to dominate its market share in 2027 owing to the advantages offered such as reduced administration and increased confidence for quality events. Moreover, the software segment is anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027

The target audience for the report on the Track and Trace Solutions market
• Manufactures
• Market analysts
• Senior executives
• Business development managers
• Technologists
• R&D staff
• Distributors
• Investors
• Governments
• Equity research firms
• Consultants

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Strategic acquisition and product launches were observed as the most adopted strategy in global track and trace solutions industry. Few of the recent product launch and acquisitions are listed below;

2019: SEA Vision Group completed the acquisition of Lixis, provider of pharmaceutical vision, control and serialization. The acquisition would help the former company to hold a stronger position in the LATAM market.

2018: OPTEL acquired GeoTraceability, a provider of technical solutions to increase the visibility of suppliers and products in intricate supply chains. This strategic move has helped OPTEL expand its traceability offering.

2017: rfxcel Corporation acquired Frequentz, Inc., a provider of life science and food traceability. The acquisition has enabled rfxcel to offer better serialization and traceability solutions.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

This release was published on openPR.