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Global Track and Trace Solutions Market Size, Analysis: By Product Type: Hardware Systems, Software Solutions; By Technology: Barcode, RFID; By Application: Serialisation Solutions, Aggregation Solutions; By End User: Pharmaceutical and Biotechnology Companies, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Track and Trace Solutions Market Outlook
The global track and trace solutions market stood at a value of around USD 3.45 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 15.10% to reach USD 12.13 billion by 2032.
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Global Track and Trace Solutions Market Growth
Based on product type, the software solutions segment is anticipated to register a significant growth in the forecast period. This can be attributed to its rapid deployment by major pharmaceutical, biotechnology, and medical device manufacturers for the efficient management of the manufacturing facilities, product lines, bundle tracking, warehousing, and shipping operations.
Meanwhile, based on technology, the RFID segment is expected to significantly contribute to the market expansion in the healthcare sector. The increased demand for RFID technology in supply chain operations and inventory management, as it helps enhance security and improve product management, is driving its demand in the healthcare industry. These factors are predicted to propel the market growth in the forecast period.
The Asia Pacific to Provide Significant Growth Opportunities to the Track and Trace Solutions Industry
Geographically, the Asia Pacific is anticipated to register a significant growth over the forecast period owing to the increased implementation of track and trace solutions in order to enhance the reliability and quality of drugs development across the pharmaceutical and biotechnology market. Moreover, an increased demand for tracking and tracing solutions in the region can be associated with the growing problem of drug counterfeits in developing countries such as India and China. In addition, the presence of leading market players and the increasing number of offshore production facilities in the region are also predicted to aid the market growth. These factors are expected to significantly catalyse the industry growth in the forecast period.
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Global Track and Trace Solutions Market Segmentation
Track and trace solutions is a logistics system using which a product is recognised by its unique marking, whilst it is circulated over the entire supply chain. This helps different providers to monitor particular goods. This process ensures that all the products in the market are linked to a central server, which records their unique product codes and provides the possibility for the product to return to the original source.
By product type, the market is divided into:
- Hardware Systems
- Software Solutions
Among these, hardware systems can be further divided into printing and marking solutions, monitoring and verification solutions, labelling solutions, and others. At the same time, software solutions can be further categorised into plant manager software, line controller software, bundle tracking software, and others.
On the basis of technology, the industry can be bifurcated into:
- Barcode
- RFID
Based on application, the industry can be segmented into:
- Serialisation Solutions
- Aggregation Solutions
Among these, serialisation solutions can be further divided into bottle serialisation, label serialisation, carton serialisation, and data matrix serialisation. At the same time, aggregation solutions can be further categorised into bundle aggregation, case aggregation, pallet aggregation, and others.
The market is categorised based on end user into:
- Pharmaceutical and Biotechnology Companies
- Medical Device Companies
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Increased Deployment of Track and Trace Solutions Across Major Industry Verticals to Bolster the Growth of the Global Track and Trace Solutions Market
The beneficial properties of track and trace solutions such as ease in packaging, transparency, and logistics management along with distribution channel product ID verification services are expected to provide a boost to the overall market growth. In addition, the increased deployment of these solutions by the companies operating in the medical devices and pharmaceutical sector is expected to drive the market growth. Moreover, the rising issues of drug counterfeiting negatively affect the biopharmaceutical firms as well as pharmaceutical companies, which is leading to the heightened implementation of tracking and tracing solutions in supply chain management and inventory operations. These factors are predicted to augment the industry growth in the coming years.
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Key Industry Players in the Global Track and Trace Solutions Market
The report gives a detailed analysis of the following key players in the global track and trace solutions market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Adents International
- Axway
- Mettler Toledo International Inc.
- Optel Group
- Robert Bosch Gmbh
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Track and Trace Solutions Market Analysis
8.1 Key Industry Highlights
8.2 Global Track and Trace Solutions Historical Market (2018-2023)
8.3 Global Track and Trace Solutions Market Forecast (2024-2032)
8.4 Global Track and Trace Solutions Market by Product Type
8.4.1 Hardware Systems
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Printing and Marking Solutions
8.4.1.4.1.1 Historical Trend (2018-2023)
8.4.1.4.1.2 Forecast Trend (2024-2032)
8.4.1.3.2 Monitoring and Verification Solutions
8.4.1.4.2.1 Historical Trend (2018-2023)
8.4.1.4.2.2 Forecast Trend (2024-2032)
8.4.1.3.3 Labelling Solutions
8.4.1.4.3.1 Historical Trend (2018-2023)
8.4.1.4.3.2 Forecast Trend (2024-2032)
8.4.1.3.4 Others
8.4.2 Software Solutions
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Plant Manager Software
8.4.2.4.1.1 Historical Trend (2018-2023)
8.4.2.4.1.2 Forecast Trend (2024-2032)
8.4.2.3.2 Line Controller Software
8.4.2.4.2.1 Historical Trend (2018-2023)
8.4.2.4.2.2 Forecast Trend (2024-2032)
8.4.2.3.3 Bundle Tracking Software
8.4.2.4.3.1 Historical Trend (2018-2023)
8.4.2.4.3.2 Forecast Trend (2024-2032)
8.4.2.3.4 Others
8.5 Global Track and Trace Solutions Market by Technology
8.5.1 Barcode
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 RFID
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Track and Trace Solutions Market by Application
8.6.1 Serialisation Solutions
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.1.3 Breakup by Type
8.6.1.3.1 Bottle Serialisation
8.6.1.4.1.1 Historical Trend (2018-2023)
8.6.1.4.1.2 Forecast Trend (2024-2032)
8.6.1.3.2 Label Serialisation
8.6.1.4.2.1 Historical Trend (2018-2023)
8.6.1.4.2.2 Forecast Trend (2024-2032)
8.6.1.3.3 Carton Serialisation
8.6.1.4.3.1 Historical Trend (2018-2023)
8.6.1.4.3.2 Forecast Trend (2024-2032)
8.6.1.3.4 Data Matrix Serialisation
8.6.1.4.4.1 Historical Trend (2018-2023)
8.6.1.4.4.2 Forecast Trend (2024-2032)
8.6.2 Aggregation Solutions
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.2.3 Breakup by Type
8.6.2.3.1 Bundle Aggregation
8.6.2.4.1.1 Historical Trend (2018-2023)
8.6.2.4.1.2 Forecast Trend (2024-2032)
8.6.2.3.2 Case Aggregation
8.6.2.4.2.1 Historical Trend (2018-2023)
8.6.2.4.2.2 Forecast Trend (2024-2032)
8.6.2.3.3 Pallet Aggregation
8.6.2.4.3.1 Historical Trend (2018-2023)
8.6.2.4.3.2 Forecast Trend (2024-2032)
8.6.2.3.4 Others
8.7 Global Track and Trace Solutions Market by End User
8.7.1 Pharmaceutical and Biotechnology Companies
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Medical Device Companies
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Others
8.8 Global Track and Trace Solutions Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Track and Trace Solutions Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Track and Trace Solutions Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Track and Trace Solutions Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.2 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Track and Trace Solutions Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Track and Trace Solutions Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Adents International
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Axway
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Mettler Toledo International Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Optel Group
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Robert Bosch Gmbh
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Track and Trace Solutions Market: Key Industry Highlights, 2018 and 2032
2. Global Track and Trace Solutions Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Track and Trace Solutions Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Track and Trace Solutions Historical Market: Breakup by Technology (USD Billion), 2018-2023
5. Global Track and Trace Solutions Market Forecast: Breakup by Technology (USD Billion), 2024-2032
6. Global Track and Trace Solutions Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Track and Trace Solutions Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Track and Trace Solutions Historical Market: Breakup by End User (USD Billion), 2018-2023
9. Global Track and Trace Solutions Market Forecast: Breakup by End User (USD Billion), 2024-2032
10. Global Track and Trace Solutions Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Track and Trace Solutions Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Track and Trace Solutions Market Structure
Key Questions Answered in the Report
In 2023, the global track and trace solutions market attained a value of nearly USD 3.45 billion.
The market is projected to grow at a CAGR of 15.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 12.13 billion by 2032.
The major drivers of the industry, such as the increased deployment of tracking solutions by pharmaceutical and medical devices firms, and increased demand in logistics and inventory management, are expected to drive the market growth.
The key market trends guiding the growth of the industry include the implementation of strict standards for serialisation and aggregation across industries.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types of track and trace solutions include hardware systems and software solutions.
The major technologies considered within the market report include barcode and RFID.
The major applications include serialisation solutions and aggregation solutions.
The major end users of the technology include pharmaceutical and biotechnology companies, medical device companies, and others.
The major players in the industry are Adents International, Axway, Mettler Toledo international Inc., Optel Group, Robert Bosch Gmbh, and others.
Analyst Review
The global track and trace solutions market attained a value of USD 3.45 billion in 2023, driven by the increased deployment of these solutions by pharmaceutical and medical devices firms. Aided by the growing technological advancements and stringent regulatory policies, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 15.10%. The market is projected to reach USD 12.13 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the track and trace solutions industry can be segmented into hardware systems and software solutions. On the basis of technology, the industry can be bifurcated into barcode and RFID. By application, the industry is divided into serialisation solutions and aggregation solutions. On the basis of end user, the industry is categorised into pharmaceutical and biotechnology companies, medical device companies, and others. The major regional markets for track and trace solutions are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Adents International, Axway, Mettler Toledo international Inc., Optel Group, and Robert Bosch Gmbh, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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