Track and Trace Solutions Market to Witness Massive Growth by 2027 - Global Analysis and Forecasts by Leading Players OPTEL GROUP, TraceLink, Körber Medipak Systems AG, ZIH Corp, Siemens Corporation, Axway, Xyntek Incorporated, ANTARES VISION NORTH AMERI

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 increasing focus of manufacturers on brand protection, rising growth in the pharmaceutical industries and medical devices and stringent regulations & standards for the implementation of serialization are the few factors which are expected to drive the market for track and trace solutions market. The growing number of manufacturing facilities in developing regions and technological advancements challenges likely to add new opportunities for this market in the forecast period.

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Tracking and tracing solutions provides detailed information about cross-border shipments. Tracking solutions are used for monitoring the specific objects or products from across the globe. The Tracking and tracing solutions comprises label with every commercial unit with a code that includes a serial number, and a tamper-evident seal (if desired) with product. Solutions used for track and trace are vital in the medical devices industry as they provide accurate location of devices at the present and previously.

Leading Players:

OPTEL GROUP
Axway
Körber Medipak Systems AG
ZIH Corp.
Siemens AG
TraceLink
Antares Vision
RFXCEL CORP.
SEA VISION S.r.l.
Adents

The report provides a detailed overview on the industry including both qualitative and quantitative information. It provides overview and forecast of the global track and trace solutions market based on component, technology, application and end user. It also provides market size and forecast till 2027 for overall track and trace solutions market with respect to five major regions, namely; North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.

North America followed anticipated to account the largest share due to the presence of developed healthcare systems in the US & Canada, followed by Europe. The Asia-Pacific region is anticipated to attain the highest growth in the market due to mandatory regulations and refining healthcare infrastructure for the execution of serialization. The technological advancements in the packaging industry and increasing attentiveness on anti-counterfeit packaging technologies among manufacturers in the region are expected to driving the global track and trace solutions market.

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Strategic Insights

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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