Global 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.
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.
Track and trace solutions are logistics services wherein the product are tagged with various unique identification methods while they are distributed across the entire supply chain so that the different providers can track these products. This method ensures that all of the products in the market are connected to a central server where their unique product code is registered and this product can be traced back to its original source.
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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
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
Global track and trace solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of track and trace solutions market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
To succeed in this swiftly changing market place, businesses must take up this Track and Trace Solutions Market research report solution. This market report looks over the market with respect to general market conditions, market improvement, market scenarios, development, cost and profit of the specified market regions, position and comparative pricing between major players. The data and information included in this Track and Trace Solutions Market report not only aids business make data-driven decisions but also assures maximum return on investment (ROI). A range of steps are used while generating this Track and Trace Solutions Market report by taking the inputs from a dedicated team of researchers, analysts and forecasters.
Segmentation: Track and Trace Solutions Market
By Product (Software; Hardware Components; Standalone Platforms);
By Application (Serialization; Aggregation; Tracking, Tracing & Reporting)
By Technology (RTLS; 2D Barcodes; Radiofrequency Identification (RFID); Linear Barcodes)
By End-User (Pharmaceutical & Biotechnology Companies; Medical Device Companies; Cosmetic Industry; Food & Beverages; Consumer Packaged Goods; Luxury Goods; Others)
By Geography (North America; Europe; Asia-Pacific; South America; Middle East and Africa)
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The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
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The latest developments, market shares, and strategies that are employed by the major market players
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Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
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