Exclusive Report on Global Track and Trace Solutions Industry: to grow at a whopping rate of CAGR 17.86%

The global Track and Trace Solutions market size was valued at $2.28 Billion in 2020 and is expected to reach $9.00 Billion by 2028 growing at the CAGR of 17.86% from 2021 to 2028.

Some of the factors affecting the market growth include rise in adoption of advanced track and trace solutions, favorable government intervention, and stringent regulations and criteria for the implementation of serialization. Pharmaceutical companies are expecting legislation on anti-counterfeiting & traceability of the drugs globally. Several governments across the countries opt for the execution of serialization regulations. There is a rise in the regulatory compliance for serialization which is becoming a focus area for pharmaceutical manufacturers and supply chain partners.

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Key Players

Some of the major Track and Trace Solutions players holding high market share include OPTEL Group, Mettler-Toledo International Inc., and Systech International Inc.. These players use partnership and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● OPTEL Group
● Mettler-Toledo International Inc.
● Systech International Inc.
● TraceLink Inc.
● Antares Vision
● Xyntek Inc.
● Adents International
● SEA Vision Srl
● Robert Bosch
● Korber Medipak Systems AG

The recently published research report on Global Track and Trace Solutions Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Track and Trace Solutions market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Track and Trace Solutions market report also includes the following data points:
● COVID19 Impact on Track and Trace Solutions market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Track and Trace Solutions market

Segmental Analysis

Market Segment By Product Type with focus on market share, consumption trend, and growth rate of Track and Trace Solutions Market:
o Hardware Components
o Software
o Standalone Platforms
o Tracking, Tracing, and Reporting Solutions

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Track and Trace Solutions Market:
o Serialization Solutions
o Medical devises Serialization Aggregation Solution

For more information: https://evolvebi.com/product/track-and-trace-solutions-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

Asia Pacific (APAC) is the fastest-growing market and is projected to grow at the highest Compound Annual Growth Rate for track and trace solutions between 2021 - 2028. Growing regulatory requirements in the healthcare industry to comply with manufacturing and distribution practices, the rising number of pharmaceutical and biotechnology companies, and the significant economic development in emerging Asia Pacific countries such as China and India are the major factors driving the demand for track and trace solutions in APAC.

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