Global Track and Trace Solutions Market Incredible Possibilities, Growth With Industry Study, Detailed Analysis 2020-2026|| Leading Players –Axway; METTLER TOLEDO; OPTEL GROUP; TraceLink; ACG; Adents; Körber AG; Siemens AG

Data Bridge Market Research recently released a research report on the Track and trace solutions analysis, which studies the Track and trace solutions industry coverage, current market competitive status, and market outlook and forecast by 2027.38. The Track and trace solutions market report is a synopsis of the market facts, stats and figures for the forecast period of 2020-2027. The report surely acts as a great source of motivation to seek new business ventures and evolve better. Such market insights can be accomplished with this comprehensive market research report which takes into account all the aspects of current and future market. Businesses can achieve better insights to drive the business into right direction with the different segments covered in the market research report. Track and trace solutions market document conducts thorough competitive research to provide better market insights.

Track and trace solutions market is expected to rise to an estimated value of USD 6.00 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing awareness regarding the protection of unique medical products as well as the increasing commercialization of medical devices globally.

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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.

Some of the key market developments are as follows:

In October 2018, rfxcel announced the extension of their track and trace solutions service for food & beverage applications. This solution will provide better traceability solutions for the industry as rfxcel ensures that their solution can providing complete transparency during the entire supply chain by offering users with food & beverages traceability, serialization processing, ingredients traceability, finished goods traceability, compliance management, blockchain enabler and environmental monitoring
In August 2017, Monotech Systems Ltd. announced the availability of “JETSCI Track and Trace Solution”, providing complete solutions for workflow management such as designing of software for security, conversion of printing lines to enhance the tracking capabilities along the entire manufacturing and logistics workflow. This solution can be implemented across pharmaceuticals, alcohol & beverages, perishable & non-perishable products, automobile, cosmetics, electronics and various other applications

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

Segmentation: Global Track and Trace Solutions Market

By Product

Software
Plant Manager
Line Controller
Enterprise & Network Manager
Bundle Tracking
Case Tracking
Warehouse & Shipment Manger
Pallet Tracking
Hardware Components
Printing & Marking
Barcode Scanners
Monitoring & Verification
Labelers
Checkweighers
RFID Readers
Standalone Platforms

By Application

Serialization
Carton Serialization
Bottle Serialization
Medical Device Serialization
Blister Serialization
Vial & Ampoule Serialization
Label Serialization
Data Matrix Serialization
Aggregation
Case Aggregation
Pallet Aggregation
Bundle Aggregation
Tracking, Tracing & Reporting

By Technology

Real-Time Locating System (RTLS)
2D Barcodes
Radiofrequency Identification (RFID)
Linear Barcodes

By End-User

Pharmaceutical & Biotechnology Companies
Medical Device Companies
Cosmetic Industry
Food & Beverages
Consumer Goods
Luxury Goods
Others

By Geography

North America
Europe
Asia-Pacific
South America
Middle East and Africa

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