Track and trace solutions are versatile systems used for monitoring and managing product movements throughout the supply chain. They employ technologies such as RFID and barcodes to provide real-time visibility, ensure product authenticity, reduce counterfeits, and comply with regulatory standards. These solutions are crucial in industries such as pharmaceuticals, ensuring drug safety, and in logistics for efficient inventory management. Key features of track and trace solutions include data analytics, serialization, and secure data storage. In summary, track and trace solutions enhance supply chain transparency, streamline operations, and bolster product safety and security.
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Data Bridge Market Research analyses that the Global Track and Trace Solutions Market is valued at USD 4.1 billion in 2021 and is expected to reach USD 14.89 billion by 2029, registering a CAGR of 15.41% during the forecast period of 2022 to 2029. Many companies operate on a global scale, which means their products may pass through multiple countries before reaching the end consumer. This globalization introduces additional complexity and risks to the supply chain. Track and trace solutions help companies manage these complexities by providing visibility across international borders.
Key Findings of the Study
Regulatory compliance is expected to drive the market's growth rate
Various industries, such as pharmaceuticals, food and beverage, and healthcare, are subject to stringent regulations for product safety and authenticity. Regulatory bodies, such as the FDA in the United States and the European Medicines Agency (EMA), require companies to implement track and trace solutions to ensure the authenticity and safety of products. These regulations, such as the Drug Supply Chain Security Act (DSCSA) and the Falsified Medicines Directive (FMD), create a strong incentive for companies to adopt track and trace technologies.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Software Components, Hardware Components and Standalone Platform), Solution (Line and Site-Level Serialization, Cloud Enterprise-Level Traceability, Distribution and Warehouse Solution, Supply Chain Data-Sharing Network and Others), Application (Serialization, Printing, Labeling and Packaging Inspection, Aggregation, Tracking, Tracing, and Reporting), Technology (2D Barcodes, Radiofrequency Identification (RFID), and Linear/1D barcodes), End User (Pharmaceutical and Biopharmaceutical Companies, Consumer Packaged Goods, Luxury Goods, Food and Beverage, Medical Device Companies, Contract Manufacturing Organizations, Repackages, Cosmetics Companies, and Others), Distribution Channel (Direct Sales and Third Party Distributors
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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OPTEL GROUP (Canada), Mettler-Toledo (U.S), Systech International (U.S), TraceLink Inc. (U.S), Antares Vision S.p.A (Italy), SAP (Germany), Xyntek Incorporated (U.S), SEA Vision (Italy), Syntegon (Germany), Körber AG (Switzerland), Siemens (Germany), Uhlmann Group Holding GmbH & Co. KG (Germany), JEKSON VISION (India), Videojet Technologies, Inc. (U.S), Zebra Technologies Corporation (U.S), Axway (U.S), ACG (India), Laetus GmbH (Germany), WIPOTEC-OCS (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The global track and trace solutions market is segmented on the basis of product, application, technology, solution, distribution channel, and end-user.
- On the basis of product, the track and trace solutions market is segmented into software components, hardware components, and standalone platform.
- On the basis of solution, the track and trace solutions market is segmented into line and site-level serialization, cloud enterprise-level traceability, distribution and warehouse solution, supply chain data-sharing network, and others.
- On the basis of application, the track and trace solutions market is segmented into serialization, printing, labeling and packaging inspection, aggregation, tracking, tracing, and reporting.
- On the basis of technology, the track and trace solutions market is segmented into 2d barcodes, radiofrequency identification (RFID), and linear/1d barcodes.
- On the basis of end-user, the track and trace solutions market is segmented into pharmaceutical and biopharmaceutical companies, consumer packaged goods, luxury goods, food and beverage, medical device companies, contract manufacturing organizations, repackages, cosmetics companies, and others.
- On the basis of distribution channel, the track and trace solutions market is segmented into direct sales and third party distributors.
Major Players
Data Bridge Market Research recognizes the following companies as the major global track and trace solutions market players in global track and trace solutions market are OPTEL GROUP (Canada), Mettler-Toledo (U.S), Systech International (U.S), TraceLink Inc. (U.S), Antares Vision S.p.A (Italy), SAP (Germany), Xyntek Incorporated (U.S), SEA Vision (Italy), Syntegon (Germany), Körber AG (Switzerland), Siemens (Germany), Uhlmann Group Holding GmbH & Co. KG (Germany)
Market Developments
- In October 2020, TraceLink has introduced a novel cloud service called Serialized Product Intelligence, harnessing serialization data to provide valuable insights and enhance operational efficiency.
- In February 2021, Anatres Vision, based in Italy, has acquired Adents International in France. This acquisition has expanded the company's portfolio of software solutions and cloud services designed for comprehensive traceability across the supply chain. Additionally, this development has played a significant role in the Group's global expansion, with a particular focus on strengthening its presence in France.
Regional Analysis
Geographically, the countries covered in the global track and trace solutions market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America dominates global track and trace solutions market during the forecast period 2022 - 2029
In 2022, North America will dominate the global track and trace solutions market due to regulations are a response to the expanding medical devices market. They demand the implementation of robust track and trace systems to ensure product authenticity, traceability, and patient safety. As the medical device sector continues to grow, compliance with these regulations becomes increasingly critical for manufacturers, driving the adoption of advanced serialization technologies to meet industry standards and safeguard public health.
Asia-Pacific (APAC) is the fastest-growing market during the forecast period of 2022 to 2029
In 2022, Asia-Pacific (APAC) will be the fastest-growing market due surge in pharmaceutical and biotechnology firms, and the need for compliance with these regulations has become paramount. Stricter guidelines for manufacturing, packaging, and distribution necessitate comprehensive track and trace solutions. These systems ensure transparency, traceability, and the prevention of counterfeit products, aligning with evolving industry standards. As the pharmaceutical and biotech sectors continue to expand, the adoption of robust track and trace technologies becomes imperative to uphold quality, safety, and regulatory compliance throughout the supply chain.
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