Europe Track and Trace Solutions Market, By Product (Software Components, Hardware Components and Standalone Platform), Solution (Line & 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 & Biopharmaceutical Companies, Consumer Packaged Goods, Luxury Goods, Food and Beverage, Medical Device Companies, Contract Manufacturing Organizations, Repackagers, Cosmetics Companies, and Others), Distribution Channel (Direct Sales and Third Party Distributors), Country (Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey and Rest of Europe) Industry Trends and Forecast to 2027
Track and trace solutions market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.7% in the forecast period of 2020 to 2027 and is expected to reach USD 1,162.99 million by 2027 from USD 602.80 million in 2019.
Rising demand of track and trace solutions by medical industry and technological advancement in track and trace solutions are the major drivers which propelled the demand of the market in the forecast period. The method of identifying the present and historical position (and other information) of a particular object or property involves the storage and transportation of several kinds of items, monitoring and tracking or tracking and tracking tracing.
This definition can be followed by the estimation and recording of the location of cars and containers, for example instance, recorded in a real-time database. This method leaves the challenge of drawing up a cohesive description of the corresponding progress notes. Track & and trace stands for linking machines to IT and data sharing at all rates. This includes strong hardware suite device modules or stand-alone systems.
Track and trace solutions demand has increased as compared to the precise year with increased incidence of drug counterfeiting faced by pharmaceutical companies along with introduction of increased technologically advanced track and trace solutions. In addition demand of track and trace solutions have increased because of increasing adoption of these solutions across world. Further high cost of track and trace solutions is expected to restraint the usage of track and trace solutions and is expected to slow down the growth of the track and trace solutions market in the forecasted period.
The track and trace solutions market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Track and trace solutions market is segmented on the basis of product, solution, technology, application, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Europe track and trace solutions market is segmented into software components, hardware components and standalone platform. In 2020, software components segment is dominating the track and trace solutions market due to changing regulatory landscape in manufacturing and distribution across different industries.
- On the basis of solution, the Europe track and trace solutions market is segmented into line & site-level serialization, cloud enterprise-level traceability, distribution and warehouse solution, supply chain data-sharing network and others. In 2020, line & site-level serialization segment is dominating the track and trace solutions market due to increasing pressure on manufacturing companies to adopt serialization.
- On the basis of application, the Europe track and trace solutions market is segmented into serialization, printing, labeling and packaging inspection, aggregation, tracking, tracing, and reporting. In 2020, the serialization segment is dominating the track and trace solutions market as a the significant share of manufacturing companies are taking making efforts in order to reduce complexities, counterfeiting, and theft in addition to comply to regulations.
- On the basis of technology, the Europe track and trace solutions market is segmented into 2D barcodes, radiofrequency identification (RFID) and linear/1D barcodes. In 2020, 2D barcodes segment is dominating the track and trace solutions market due to their fast readability and ability to store a large amount of information at lower cost.
- On the basis of end user, the Europe track and trace solutions market is segmented into pharmaceutical & biopharmaceutical companies, consumer packaged goods, luxury goods, food and beverage, medical device companies, contract manufacturing organizations, repackagers, cosmetics companies, and others. In 2020, pharmaceutical & biopharmaceutical companies segment is dominating the track and trace solutions market due to increasing efforts to combat counterfeiting and reduce large losses that the industry faces due to the problem.
- On the basis of distribution channel, the Europe track and trace solutions market is segmented into direct sales and third party distributors. In 2020, direct sales segment is dominating the track and trace solutions market as the products are specialized and vendors offer high level of services by experts in the company.
Track and Trace Solutions Market Country Level Analysis
The track and trace solutions market is analysed and market size information is provided by product, solution, application, technology, end user and distribution channel.
The countries covered in the track and trace solutions Market report are the Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey and Rest of Europe.
Europe is expected to grow with the lucrative growth rate in the forecast period of 2020 to 2027 due to introduction of several technological advanced track and trace solutions in the region. Germany is dominating the European market with the growing demand of track and trace solutions by multiple industries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Collaboration by the Players for Development of New Advanced Wearable Sensors is Creating New Opportunities for Players in the Track and Trace Solutions Market
Track and trace solutions market also provides you with detailed market analysis for every country growth in particular industry with track and trace solutions sales, impact of advancement in the track and trace solutions and changes in regulatory scenarios with their support for the track and trace solutions market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Track and Trace Solutions Market Share Analysis
Track and trace solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Track and Trace Solutions Market.
The major players covered in the report are Adents, Uhlmann, ANTARES VISION S.p.A., METTLER TOLEDO, OPTEL GROUP, SEA VISION S.r.l., Xyntek Incorporated, Jekson Vision, RFXCEL.CORP., Laetus GmbH, Grant-Soft Ltd., PharmaSecure Inc., Systech, Zebra Technologies Corp., ACG, WIPOTEC-OCS GmbH, Domino Printing Sciences plc, Kevision Systems, SL Controls Ltd, Arvato Systems, Axyway, TraceLink, Korber AG, SAP SE, Siemens, IBM Corporation, Videojet Technologies, Inc., NJM and Robert Bosch Manufacturing Solutions GmbH, among other domestic and European players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the track and trace solutions market.
- In June 2020, Domino Printing Sciences plc launched X630i digital ink jet corrugated press with AQ95 aqueous ink set. This new product launched by the company will increase its demand in the market leading to increase the increased sales in the future.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the track and trace solutions market which also provides the benefit for organisation to improve their offering for track and trace solutions.
Customization Available : Europe Track and Trace Solutions Market
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