Allied Market Research published a report, titled, “Track and Trace Solutions Market by Product Type (Hardware Systems and Software Solutions), Technology (Barcode and RFID), Application (Serialization Solutions and Aggregation Solutions), and End User (Pharmaceutical & Biotechnology Companies, Medical Device Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global track and trace solutions industry was estimated at $2.03 billion in 2019, and is expected to hit $6.12 billion by 2027, registering a CAGR of 14.6% from 2020 to 2027. The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing market opportunities.
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Drivers, restraints, and opportunities-
Increase in adoption of advanced track and trace solutions, favorable government intervention, and stringent regulations & criteria for the implementation of serialization drive the growth of the global track and trace solutions market. On the other hand, high cost of infrastructure setup impedes the growth to some extent. However, technological advancement in track and trace solutions is expected to create lucrative opportunities in the industry.
Covid-19 scenario-
The demand for track and trace solutions increased during the Covid-19 pandemic as healthcare companies and organizations were overwhelmed due to rising number of Covid-19 patients.
Moreover, the demand is expected to rise even after the pandemic as it offers an elegant way to spot counterfeit drugs.
Which market perspectives are enlightened in the Track and Trace Solutions Market report?
Executive Summary: It covers a summary of the most vital studies, the Worldwide Track and Trace Solutions Market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
Study Analysis: This covers major players, vital market segments, the scope of the products offered in the Track and Trace Solutions Market, the years measured and the study points.
Competitive Analysis: In this segment each player is screened based on a products, services, value, SWOT analysis, growth and other significant features.
Geographic Analysis: This Track and Trace Solutions Market report analyses data on the basis of production, sales, imports & exports, and key players in all regional markets.
Track and Trace Solutions Market Segments and Sub-segments:
The global track and trace solutions market is segmented on the basis of product type, technology, application, end user, and region. Based on product type, the hardware systems segment held the lion’s share in 2019, accounting for more than half of the market. However, the software solutions segment is expected to register the highest CAGR of 15.3% during the forecast period.
On the basis of application, the serialization solutions segment held the largest share in 2019, accounting for nearly three-fifths of the market. Moreover, the segment is estimated to manifest the highest CAGR of 14.9% during the forecast period.
The global track and trace solutions market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated the market in 2019, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is projected to portray the highest CAGR of 16.2% during the forecast period.
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The global track and trace solutions market report includes an in-depth analysis of the major market players such as Axway Software SA, METTLER TOLEDO International Inc., OPTEL GROUP, TraceLink Inc., Siemens AG, Adents International, Zebra Technologies Corporation, Seidenader Vision GmbH, Robert Bosch GmbH, and Uhlmann Group.
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Key Findings Of The Study
On the basis of product type, the hardware systems segment was the highest contributor to the track and trace solutions market in 2019
On the basis of technology, the RFID segment is anticipated to register the fastest track and trace solutions market growth over the forecast period
On the basis of application, the serialization solutions segment spearheaded the market among other applications
On the basis of end user, the pharmaceutical & biotechnology companies segment dominated the track and trace solutions market in 2019, and is expected to continue this trend during forecast period with a CAGR of 15.1%
On the basis of region, North America accounted for the largest revenue share in 2019; while Asia-Pacific is anticipated to grow at the highest CAGR of 16.2% during the forecast period
Table of Content:
Chapter One: Industry Overview
Chapter Two: Major Segmentation (Classification, Application and etc.) Analysis
Chapter Three: Production Market Analysis
Chapter Four: Sales Market Analysis
Chapter Five: Consumption Market Analysis
Chapter Six: Production, Sales and Consumption Market Comparison Analysis
Chapter Seven: Major Manufacturers Production and Sales Market Comparison Analysis
Chapter Eight: Competition Analysis by Players
Chapter Nine: Marketing Channel Analysis
Chapter Ten: New Project Investment Feasibility Analysis
Chapter Eleven: Manufacturing Cost Analysis
Chapter Twelve: Industrial Chain, Sourcing Strategy and Downstream Buyers Thank you for reading the article, Regional reports like North America, Europe, Asia-Pacific, LAMEA are also available.
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