Track and Trace Solutions Market Worth $ 7.46 Billion, Globally, by 2028 at 16.9% CAGR: Verified Market Research™

The growth of the global Track and Trace Solutions Market is being driven by stringent regulations for the implementation of serialization. Also, the rapid growth of the medical device industry is one of the major factors that are positively influencing the growth of the global market.

Boonton, New Jersey, UNITED STATES

Jersey City, New Jersey, April 09, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Track and Trace Solutions Market” by Product (Software, Hardware Components, and Standalone Platforms), by Technology (Barcodes, and Radio Frequency Identification (RFID)), by End-User(Pharmaceutical & Biopharmaceutical Companies, Medical Device Companies, Cosmetic Industry, and Other End Users), and by Geography. According to Verified Market Research, the Global Track and Trace Solutions Market Track and Trace Solutions Market was valued at USD 2.33 Billion in 2020 and is projected to reach USD 7.46 Billion by 2028, growing at a CAGR of 16.9% from 2021 to 2028.

Download PDF Brochure:

Browse in-depth TOC onTrack and Trace Solutions Market

202 - Pages

126 – Tables

37 – Figures

Global Track and Trace Solutions Market Overview

The market is anticipated to be fueled by the rising deployment of track and trace solutions by pharmaceutical and medical device companies. Drug counterfeiting is a major problem faced by pharmaceuticals and biopharmaceutical companies. Thus, companies are adopting track and trace solutions for supply chain monitoring. It has been found that the influx of substandard/counterfeit medications is more prevalent in low to middle-income countries such as India and Africa. According to the United States Trade Representative (USTR) report in 2019, around 20% of all sold drugs in India were counterfeit.

In addition, stringent regulations and standards pertinent to serialization implementation and aggregation are expected to drive the market for track and trace systems. In July 2019, the Therapeutic Goods Administration (TGA) imparted new guidelines on product coding in order to reduce counterfeiting in Australia. However, the high cost connected with track and trace implementation and lack of unified global standard regulations for serialization and aggregation could hinder the market growth.

The major players in the market are SAP, Antares Vision, TraceLink Inc., Systech International Inc., OPTEL Group, Mettler-Toledo International Inc., Xyntek Inc., Adents International, SEA Vision Srl, and Robert Bosch.

Verified Market Research has segmented the Global Track and Trace Solutions Market On the basis of Product, Technology, End-User, and Geography.

  • Track and Trace Solutions Market by Product
    • Software
    • Hardware Components
    • Standalone Platforms
  • Track and Trace Solutions Market by Technology
    • Barcodes
    • Radio Frequency Identification (RFID)
  • Track and Trace Solutions Market by End-Users
    • Pharmaceutical & Biopharmaceutical Companies
    • Medical Device Companies
    • Cosmetic Industry
    • Other End Users
  • Track and Trace Solutions Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

Homeland Security Market by End-Use (Aviation Security, Maritime Security, Border Security, Cybersecurity, and Others), by Geography, Forecast, 2020-2027

Smart Camera Market by Sensor Type (CMOS Sensors and CCD Sensors), by Application (Public Spaces, Military & Defense, Transit Facilities, Commercial Facilities, Enterprise & Government Infrastructure, Residential Infrastructure), by Geography, Forecast, 2020-2027

Writing Enhancement Software Market by Type (Commercial Use and Personal Use), by Geography, Forecast, 2020-2027

5K Display Resolution Market by Type (Cameras, Monitors, Televisions, and Others), by Application (Commercial and Household), by Geography, Forecast, 2020-2027

Top 7 LiDAR manufacturers acting like white knights for latest innovations

Visualize Track and Trace Solutions Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information-enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals, and critical revenue decisions.

Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.


Contact Data