Track And Trace Solutions Market | Global Industry Report, 2027
The global Track And Trace Solutions market gathered revenue around USD 3.0 Billion in 2020 and market is set to grow USD 10.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 20.4% during the prediction period 2021 to 2027.
Growth Factors:
The growth is attributed majorly due to the increasing focus of pharmaceutical and biopharmaceutical companies on ensuring brand protection from counterfeit products and theft. The deployment of a track and trace system helps manufacturers enhance distribution channel efficiency and reduces the frequency of counterfeit products.
Furthermore, the rising adoption of track and trace systems by healthcare manufacturers would fuel the market growth in the long run. The introduction of advanced technology, such as RFID, provides fast reading and delivers high levels of security. However, the deployment cost of serialization and aggregation methods, as well as the lack of common regulations and standards, may hamper the market growth in few developing geographies.
US CBP and customs of other member countries as well as by the World Customs Organization reported the seizures of false coronavirus tests and personal protective equipment for example facemasks and hand sanitizers. For instance, in May 2020, Smartrac teamed up with SUKU to validate COVID-19 testing kits and personal protective equipment to permit prompt verification and deliver end-to-end supply chain transparency. Hence, it is estimated that the market will witness lucrative growth opportunities due to the COVID-19 outbreak.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Track And Trace Solutions market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Track And Trace Solutions market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 10.7 Billion by 2027 |
| Growth Rate | CAGR of 20.4% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, technology, application, end-use And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Azimut Benetti Group, Brunswick Corporation, Groupe Beneteau, Hobie Cat Company, Marine Products Corporation, Mastercraft Boat Holdings, Inc, Polaris IncSunseeker International Limited, White River Marine Group, Yamaha Motor Co., Ltd. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Track And Trace Solutions market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Market Opportunities analysis:
Traditional brand protection technologies such as anti-theft and authentication are intended to protect individual items rather than safeguard the entire supply chain. There is a high possibility of fake products being introduced at any stage in the supply chain. To combat counterfeiting and identify massive product items, a solution with automatic and non-line-of-sight capabilities is required. The demand for technologies with modular designs, which fit enterprise needs, has increased in the last few years. For instance, track and trace technologies based on RFID maintain an electronic pedigree that records the transaction information of products within the supply chain. This approach proved to be a standout for protecting the supply chain against infiltration, theft, and fraud and supporting remote authentication in the brand protection supply chain. Technologies that are scalable from a single production line to a multi-facility/multi-line infrastructure while minimizing the initial investment are projected to gain attention in the coming future.
Regional analysis:
North America dominated the market for track and trace solutions and accounted for the largest revenue share of 39.0% in 2020, primarily due to the presence of highly regulated serialization and aggregation standards, as well as advanced healthcare infrastructure. Automatic identification technologies including barcoding and RFID are recommended to pharmaceuticals and other healthcare companies by the FDA. Furthermore, the presence of highly developed healthcare infrastructure and adoption of this technology in the U.S. is expected to drive the market in the region.
Europe is the second-largest market for track and trace solutions in terms of revenue share and is expected to remain unaltered till 2027. They can be attributed to the presence of developed economies, such as Germany, Turkey, the U.K., France, and Italy, in the region. The European Union aims to progressively implement track and trace solutions in the healthcare supply chain to deal with drug counterfeiting and theft. According to the Falsified Medicines Directive, manufacturers failing to comply with drug serialization regulations would not be allowed to market their products in Europe.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Track And Trace Solutions Market include: Axway; Mettler-Toledo International, Inc.; Optel Vision; Adents International; Antares Vision SRL; TraceLink, Inc.; Siemens AG; ACG Worldwide, Seidenader Maschinenbau GmbH; Systech, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Track And Trace Solutions market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Track And Trace Solutions market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Track And Trace Solutions markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Track And Trace Solutions market Study:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Track And Trace Solutions Market, By Product Type
7.1. Track And Trace Solutions Market, By Product Type, 2021-2027
7.1.1. Hardware Systems
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Software Solutions
7.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Track And Trace Solutions Market, By Technology
8.1. Track And Trace Solutions Market, By Technology, 2021-2027
8.1.1. Barcode
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. RFID
8.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Track And Trace Solutions Market, By Application
9.1. Track And Trace Solutions Market, By Application, 2021-2027
9.1.1. Serialization Solutions
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Aggregation Solutions
9.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 10.Global Track And Trace Solutions Market, By End User
10.1. Track And Trace Solutions Market, By End User, 2021-2027
10.1.1. Pharmaceutical & Biotechnology Companies
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Medical Device Companies
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Others
10.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 11.Global Track And Trace Solutions Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.1.2. Market Revenue and Forecast, By Technology (2016-2027)
11.1.3. Market Revenue and Forecast, By Application (2016-2027)
11.1.4. Market Revenue and Forecast, By End User (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.1.5.2. Market Revenue and Forecast, By Technology (2016-2027)
11.1.5.3. Market Revenue and Forecast, By Application (2016-2027)
11.1.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.1.6.2. Market Revenue and Forecast, By Technology (2016-2027)
11.1.6.3. Market Revenue and Forecast, By Application (2016-2027)
11.1.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.2.2. Market Revenue and Forecast, By Technology (2016-2027)
11.2.3. Market Revenue and Forecast, By Application (2016-2027)
11.2.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.2.5.2. Market Revenue and Forecast, By Technology (2016-2027)
11.2.5.3. Market Revenue and Forecast, By Application (2016-2027)
11.2.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, By Product Type(2016-2027)
11.2.6.2. Market Revenue and Forecast, By Technology (2016-2027)
11.2.6.3. Market Revenue and Forecast, By Application (2016-2027)
11.2.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.2.7.2. Market Revenue and Forecast, By Technology (2016-2027)
11.2.7.3. Market Revenue and Forecast, By Application (2016-2027)
11.2.7.4. Market Revenue and Forecast, By End User (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.2.8.2. Market Revenue and Forecast, By Technology (2016-2027)
11.2.8.3. Market Revenue and Forecast, By Application (2016-2027)
11.2.8.4. Market Revenue and Forecast, By End User (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.3.2. Market Revenue and Forecast, By Technology (2016-2027)
11.3.3. Market Revenue and Forecast, By Application (2016-2027)
11.3.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.3.5.2. Market Revenue and Forecast, By Technology (2016-2027)
11.3.5.3. Market Revenue and Forecast, By Application (2016-2027)
11.3.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.3.6.2. Market Revenue and Forecast, By Technology (2016-2027)
11.3.6.3. Market Revenue and Forecast, By Application (2016-2027)
11.3.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.3.7.2. Market Revenue and Forecast, By Technology (2016-2027)
11.3.7.3. Market Revenue and Forecast, By Application (2016-2027)
11.3.7.4. Market Revenue and Forecast, By End User (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.3.8.2. Market Revenue and Forecast, By Technology (2016-2027)
11.3.8.3. Market Revenue and Forecast, By Application (2016-2027)
11.3.8.4. Market Revenue and Forecast, By End User (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.4.2. Market Revenue and Forecast, By Technology (2016-2027)
11.4.3. Market Revenue and Forecast, By Application (2016-2027)
11.4.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.4.5.2. Market Revenue and Forecast, By Technology (2016-2027)
11.4.5.3. Market Revenue and Forecast, By Application (2016-2027)
11.4.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.4.6.2. Market Revenue and Forecast, By Technology (2016-2027)
11.4.6.3. Market Revenue and Forecast, By Application (2016-2027)
11.4.6.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.4.7.2. Market Revenue and Forecast, By Technology (2016-2027)
11.4.7.3. Market Revenue and Forecast, By Application (2016-2027)
11.4.7.4. Market Revenue and Forecast, By End User (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.4.8.2. Market Revenue and Forecast, By Technology (2016-2027)
11.4.8.3. Market Revenue and Forecast, By Application (2016-2027)
11.4.8.4. Market Revenue and Forecast, By End User (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.5.2. Market Revenue and Forecast, By Technology (2016-2027)
11.5.3. Market Revenue and Forecast, By Application (2016-2027)
11.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.5.5.2. Market Revenue and Forecast, By Technology (2016-2027)
11.5.5.3. Market Revenue and Forecast, By Application (2016-2027)
11.5.5.4. Market Revenue and Forecast, By End User (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, By Product Type (2016-2027)
11.5.6.2. Market Revenue and Forecast, By Technology (2016-2027)
11.5.6.3. Market Revenue and Forecast, By Application (2016-2027)
11.5.6.4. Market Revenue and Forecast, By End User (2016-2027)
Chapter 12. Company Profiles
12.1. METTLER TOLEDO International Inc.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Axway Software SA
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. TraceLink Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. OPTEL GROUP
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Adents International
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Siemens AG
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Seidenader Vision GmbH
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Zebra Technologies Corporation
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Robert Bosch GmbH
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Uhlmann Group
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers