Global Track and Trace Solutions Market 2020 Biggest Innovation To Boost Global Growth, Share, Application, Development, Top Key Players And Forecast 2026

"According to Data Bridge Market Research, global track and trace solutions market is expected to reach USD 6 billion by 2026, growing with a healthy CAGR during the forecast period of 2019 to 2026"

The market insights of track and trace solutions report helps businesses obtain granular level clarity on current business trends and expected future developments. For this, market data is broken down in a systematic process to highlight focus areas of client's interest. For producing such excellent market research report, principal attributes such as highest level of spirit, practical solutions, dedicated research and analysis, innovation, talent solutions, integrated approaches, most advanced technology and commitment plays a key role. A numerous markets, marketing strategies, trends, future products and rising opportunities have been considered while studying market for preparing this track and trace solutions report.

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Few of the major competitors currently working in the global track and trace solutions market are Antares Vision; Axway; METTLER TOLEDO; OPTEL GROUP; TraceLink; ACG; Adents; Körber AG; Siemens AG; Systech International; Robert Bosch Packaging Technology GmbH; Zebra Technologies Corp.; Uhlmann; RFXCEL CORP.; Weber Marking Systems GmbH; Marchesini Group S.p.A.; Global Healthcare Exchange, LLC; PharmaSecure Inc. and Zetes among others.

Key Developments in the Market:

In August 2017, TraceLink announced that they had acquired ROC IT Solutions, establishing TraceLink as the leader of data assessment and capturing provider for serialization of products for the pharmaceutical market. This will ensure that the users can exchange the product data from their inventories across the different supply chain network users.
In June 2017, TraceLink announced the launch of "Automated Validation Manager (AVM)". The web-based solution offering is designed to be integrated with TraeLink's "Life Sciences Cloud" consistently which will restrict the usage of having to do manual validation while this validation cycle will provide complete information with just logging in to the web portal

Market Drivers

Increasing prevalence of regulations for the implementation of unique identification methods for products from the authorities are factors driving the growth of the market
Increasing number of products being recalled by various manufacturers and healthcare companies requiring better inventory management; this factor is expected to drive the growth of the market
Increasing prevalence of generic and over-the-counter medicine products is also expected to drive the growth of the market
Rising prevalence of counterfeit medical products and pharmaceuticals flooding the market

Market Restraints

Large financial costs associated with the establishment and operations of these solutions is expected to restrict its complete adoption
Increasing consumption of resources to implement the components required for the functioning of this solution is expected to hinder the growth of the market

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Segmentation: Global Track and Trace Solutions Market

By Product

(Software; Hardware Components; Standalone Platforms);

Application

(Serialization; Aggregation; Tracking, Tracing & Reporting);

Technology

(RTLS; 2D Barcodes; Radiofrequency Identification (RFID); Linear Barcodes);

End-User

(Pharmaceutical & Biotechnology Companies; Medical Device Companies; Cosmetic Industry; Food & Beverages; Consumer Packaged Goods; Luxury Goods; Others);

Geography

(North America; Europe; Asia-Pacific; South America; Middle East and Africa)

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