Track And Trace Solutions Market Destined to Reach US$ 8.1 Billion (CAGR 10.6%) During 2023-2028 - IMARC Group

The latest report by IMARC Group, titled "Track and Trace Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the global track and trace solutions market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global track and trace solutions market size reached US$ 4.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2028, exhibiting a growth rate (CAGR) of 10.6% during 2023-2028.

Track and trace solutions refer to using technology and systems to monitor and track the movement of products, goods, or people throughout a supply chain. These solutions help to increase efficiency, reduce costs, and improve the overall management of the supply chain. They are used in various industries, such as healthcare, food and beverage, logistics, and pharmaceuticals. They help to ensure product safety and prevent counterfeiting, diversion, or theft. The implementation of track and trace solutions has become increasingly important due to globalization and the complexity of modern supply chains. They help companies to comply with regulations, meet customer demands, and ultimately improve their bottom line.

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Global Track and Trace Solutions Market Trends:
The global market is majorly driven by the increasing demand for product safety. In line with this, the rise in the adoption of automation in the supply chain is significantly contributing to market growth. Furthermore, the regulations and guidelines in various industries, such as healthcare, food and beverage, and pharmaceuticals, require companies to implement track and trace solutions to ensure compliance. Apart from this, the growing need to reduce stock-outs risk and improve overall inventory management is positively influencing the market. Moreover, with the globalization of supply chains, the demand for track and trace solutions has increased to ensure the security and traceability of products across borders.

Besides, the rapid adoption of automation in the supply chain is accelerating the demand for track and trace solutions to ensure that products are tracked and monitored throughout the entire process. Additionally, the escalating focus of manufacturers on brand protection and the stringent regulations imposed by governments across various countries for the implementation of serialization is providing a boost to the market.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/track-trace-solutions-market

By the IMARC Group, Some of the Top Competitive Landscape Operating in the Market are Given Below:

• ACG Worldwide
• Antares Vision S.p.A.
• Axway
• Mettler-Toledo International Inc.
• Optel Vision Inc.
• Robert Bosch GmbH
• Seidenader Maschinenbau GmbH (Körber AG)
• Siemens AG
• Sys-Tech Solutions Inc. (Dover Corporation)
• TraceLink Inc.
• Uhlmann Group
• Zebra Technologies Corporation

Key Market Segmentation:

The report has segmented the market on the basis of region, product, technology, application, and end-use industry.

Breakup by Product:

• Hardware
o Printing and Marking Solutions
o Monitoring and Verification Solutions
o Labelling Solutions
o Others
• Software
o Plant Manager Software
o Line Controller Software
o Bundle Tracking Software
o Others

Breakup by Technology:

• Barcode
• RFID
• Others

Breakup by Application:

• Serialization Solutions
o Bottle Serialization
o Label Serialization
o Carton Serialization
o Others
• Aggregation Solutions
o Bundle Aggregation
o Case Aggregation
o Pallet Aggregation

Breakup by End Use Industry:

• Pharmaceutical
• Medical Device
• Food and Beverages
• Cosmetics
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.