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Track and Trace Solutions Market by Type, Technology, Application, End User - Global Forecast to 2023

Track and Trace Solutions Market: Global Forecast until 2023

  • January 2018
  • 258 pages
  • ID: 4182972
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The Track and Trace Solutions Market is expected to grow at a CAGR (Compound annual growth rate) of 18.90 percent

The track and trace solutions market is forecasted to reach ~$3.9B by 2023 from ~$1.6B in 2018, at a compound annual growth rate (CAGR) of 18.90 percent. The increase of this market is essentially attributed to the stringent regulations and standards for the implementation of serialization, growing focus of manufacturers on brand protection, increase in the medical devices and pharmaceutical sectors, and growing number of packaging related product recalls.

On the other hand, the high cost of serialization and aggregation is anticipated to hinder the rise of this market up to a certain extent

The carton serialization segment is anticipated to grow at the quickest rate during the estimate period

Established on serialization type, the track and tarce solutions market is split into bottle serialization, blister serialization, vials & ampoules serialization, carton serialization, and medical device serialization. The carton serialization segment is projected to register the highest compound annual growth rate (CAGR) during the outlook period due to the rising awareness on supply chain efficiency in the pharmaceutical and medical devices sector.

2D barcodes segment continue to dominate the sector during the estimate period.

On the basis of technology, the track and trace solutions market is divided into linear barcodes, 2D barcodes, and Radio Frequency Identification. The 2D barcodes segment recorded for the main share of the track and trace solutions market for technology during the outlook period.

The growing preference for 2D barcodes in packaging over linear barcodes due to the advantages of 2D barcodes including they have higher data storage capacities as well as contain big amounts of data with fewer variations in image size are forecast to steer the industry demand for 2D barcodes in this industry segment

APAC to witness the more significant increase during the estimate period

Geographically, the track and trace solutions market is mostly broken down into five main geographies, that is, North America continent, EU, Asia-Pac, Latin America area, and the Middle East (ME) & African continent.

In 2017, North America (NA) commanded a main share of the track and trace solutions market. Nevertheless, Asia-Pac is anticipated to witness the highest increase during the outlook period. Increase in this industry is influenced by a number of factors, including the increasing pharmaceutical and medical devices market, rising focus of prominent actors on emerging Asian countries, growing healthcare expenditure, and increasing awareness on advanced track and trace solutions.

Break of primary members taking part was as mentioned below:

• By Company Size - Tier 1 - 40.0 percent, Tier 2 - 35.0 percent and Tier 3 - 25.0 percent

• By Designation Level - C-suite - 30.0 percent, D-level - 25.0 percent, Others - 45.0 percent

• By Area - North America continent - 32.0 percent, Europe (EU) - 25.0 percent, Asia Pacific (APAC) - 20.0 percent, Latin America area - 15.0 percent, Middle East (ME) and African continent - 8.0 percent

The main players in the track and trace solutions market are Optel Vision, METTLER-TOLEDO International, Systech, TraceLink, Antares Vision, Xyntek, Axway, Adents International, Sea Vision, Siemens, Zebra Technologies, ACG Worldwide, and Körber Medipak Systems.

Segment Research

The market research examines the different types of track and trace solutions in the industry and their adoption patterns. It aims at evaluating the market value and future increase potential of the track and trace solutions market for distinct segments including type, technology, application, final user, and area. The industry report also comprises a detailed competitive analysis of the top players in this sector together with their company descriptions, latest developments, SWOT study, and industry strategies.

Reasons to Buy the Report

The study will increase established companies as well as new entrants/smaller companies to measure the pulse of the sector, which in turn would benefit them, collect a larger market share. Companies obtaining the analysis could use one or an aggregation of the below-mentioned five strategies (business entry, product improvement/innovative projects, industry development, industry diversification, and opposing assessment) to improve their market presence.

This industry report offers business insights on these pointers:

• Market Uptake: Exhaustive data on the product types provided by the top actors in the track and trace solutions market. The market research examines the sector by category, technology, application, and end user across all areas

• Product Development/Innovative products: In-depth understanding on the next trends, Research&development activities, and launches of new product in the track and trace solutions market

• Market Development: Highlighted information about the profitable emerging sectors by category, technology, application, end-user, and area

• industry diversification: Complete information about recent products, increasing regions, recent evolutions, and market investments in the track and trace solutions market

• opposing assessment: Detailed assessment of market shares, increase strategies, products, distribution networks, and manufacturing competences of the key players in the track and trace solutions market

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