The North America Compliance and Traceability Solutions Market should witness market growth of 10.3% CAGR during the forecast period (2022-2028).
Businesses and the government use digital solutions more frequently to follow the rules and accepted practices. Moreover, with regard to various Technological, financial, or environmental risks, these tools are utilized to assure regulatory compliance. Hence, it is anticipated that rising demand for on-premise and cloud-based compliance and traceability technologies in the IT & telecom, energy and utilities, manufacturing, and BFSI sectors will fuel market expansion. Moreover, problems with prescription fraud are a persistent problem for pharmaceutical and healthcare organizations.
As a result, top healthcare organizations are implementing supply chain monitoring tools and traceability systems. These solutions can also guarantee, safeguard, and enhance consumer connections. Hence, the need for end-to-end traceability is growing rapidly in the IT & telecom, manufacturing, and BFSI sectors. Today's global supply chain needs more insight as businesses expand internationally, partner with new businesses, and move into new areas to meet changing regulatory requirements. For organizations to guarantee product quality, product security, consumer protection, inventory optimization, and on-time market delivery, supply chain transparency has become crucial.
The North American adoption of compliance and traceability solutions would be driven by the expansion of the manufacturing, healthcare, and IT & telecom sectors. In addition, the region is experiencing exponential growth in compliance and traceability solutions due to the availability of tightly controlled aggregation and serialization requirements and cutting-edge healthcare infrastructure. Additionally, in accordance with FDA regulations, the Food Traceability Rule mandates that individuals who produce, process, pack, or hold foods on the Food Traceability List (FTL) maintain and make available to their supply chain partners certain information, referred to as Key Data Elements (KDEs), for a select number of Critical Tracking Events (CTEs) in the supply chain of the food.
The US market dominated the North America Compliance and Traceability Solution Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,366.2 million by 2028. The Canada market is poised to grow at a CAGR of 12.4% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 12.1% during (2022-2028).
Based on Component, the market is segmented into Software and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Healthcare, Food & Agriculture, Government, Manufacturing, IT & Telecom, BFSI and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Tata Consultancy Services Ltd., Omron Corporation, Mettler-Toledo International, Inc., Sys-Tech Solutions, Inc. (Dover Corporation), Optel Group, 4CRisk.ai, Agrilyze, Tuleap, and TraceLink, Inc.
Businesses and the government use digital solutions more frequently to follow the rules and accepted practices. Moreover, with regard to various Technological, financial, or environmental risks, these tools are utilized to assure regulatory compliance. Hence, it is anticipated that rising demand for on-premise and cloud-based compliance and traceability technologies in the IT & telecom, energy and utilities, manufacturing, and BFSI sectors will fuel market expansion. Moreover, problems with prescription fraud are a persistent problem for pharmaceutical and healthcare organizations.
As a result, top healthcare organizations are implementing supply chain monitoring tools and traceability systems. These solutions can also guarantee, safeguard, and enhance consumer connections. Hence, the need for end-to-end traceability is growing rapidly in the IT & telecom, manufacturing, and BFSI sectors. Today's global supply chain needs more insight as businesses expand internationally, partner with new businesses, and move into new areas to meet changing regulatory requirements. For organizations to guarantee product quality, product security, consumer protection, inventory optimization, and on-time market delivery, supply chain transparency has become crucial.
The North American adoption of compliance and traceability solutions would be driven by the expansion of the manufacturing, healthcare, and IT & telecom sectors. In addition, the region is experiencing exponential growth in compliance and traceability solutions due to the availability of tightly controlled aggregation and serialization requirements and cutting-edge healthcare infrastructure. Additionally, in accordance with FDA regulations, the Food Traceability Rule mandates that individuals who produce, process, pack, or hold foods on the Food Traceability List (FTL) maintain and make available to their supply chain partners certain information, referred to as Key Data Elements (KDEs), for a select number of Critical Tracking Events (CTEs) in the supply chain of the food.
The US market dominated the North America Compliance and Traceability Solution Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,366.2 million by 2028. The Canada market is poised to grow at a CAGR of 12.4% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 12.1% during (2022-2028).
Based on Component, the market is segmented into Software and Services. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Healthcare, Food & Agriculture, Government, Manufacturing, IT & Telecom, BFSI and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Tata Consultancy Services Ltd., Omron Corporation, Mettler-Toledo International, Inc., Sys-Tech Solutions, Inc. (Dover Corporation), Optel Group, 4CRisk.ai, Agrilyze, Tuleap, and TraceLink, Inc.
Scope of the Study
By Component
- Software
- Services
By Deployment Mode
- On-premise
- Cloud
By Organization Size
- Large Enterprises
- SMEs
By Vertical
- Healthcare
- Food & Agriculture
- Government
- Manufacturing
- IT & Telecom
- BFSI
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Tata Consultancy Services Ltd.
- Omron Corporation
- Mettler-Toledo International, Inc.
- Sys-Tech Solutions, Inc. (Dover Corporation)
- Optel Group
- 4CRisk.ai
- Agrilyze
- Tuleap
- TraceLink, Inc.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Compliance and Traceability Solution Market, by Component
1.4.2 North America Compliance and Traceability Solution Market, by Deployment Mode
1.4.3 North America Compliance and Traceability Solution Market, by Organization Size
1.4.4 North America Compliance and Traceability Solution Market, by Vertical
1.4.5 North America Compliance and Traceability Solution Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Compliance and Traceability Solution Market by Component
3.1 North America Software Market by Country
3.2 North America Services Market by Country
Chapter 4. North America Compliance and Traceability Solution Market by Deployment Mode
4.1 North America On-premise Market by Country
4.2 North America Cloud Market by Country
Chapter 5. North America Compliance and Traceability Solution Market by Organization Size
5.1 North America Large Enterprises Market by Country
5.2 North America SMEs Market by Country
Chapter 6. North America Compliance and Traceability Solution Market by Vertical
6.1 North America Healthcare Market by Country
6.2 North America Food & Agriculture Market by Country
6.3 North America Government Market by Country
6.4 North America Manufacturing Market by Country
6.5 North America IT & Telecom Market by Country
6.6 North America BFSI Market by Country
6.7 North America Others Market by Country
Chapter 7. North America Compliance and Traceability Solution Market by Country
7.1 US Compliance and Traceability Solution Market
7.1.1 US Compliance and Traceability Solution Market by Component
7.1.2 US Compliance and Traceability Solution Market by Deployment Mode
7.1.3 US Compliance and Traceability Solution Market by Organization Size
7.1.4 US Compliance and Traceability Solution Market by Vertical
7.2 Canada Compliance and Traceability Solution Market
7.2.1 Canada Compliance and Traceability Solution Market by Component
7.2.2 Canada Compliance and Traceability Solution Market by Deployment Mode
7.2.3 Canada Compliance and Traceability Solution Market by Organization Size
7.2.4 Canada Compliance and Traceability Solution Market by Vertical
7.3 Mexico Compliance and Traceability Solution Market
7.3.1 Mexico Compliance and Traceability Solution Market by Component
7.3.2 Mexico Compliance and Traceability Solution Market by Deployment Mode
7.3.3 Mexico Compliance and Traceability Solution Market by Organization Size
7.3.4 Mexico Compliance and Traceability Solution Market by Vertical
7.4 Rest of North America Compliance and Traceability Solution Market
7.4.1 Rest of North America Compliance and Traceability Solution Market by Component
7.4.2 Rest of North America Compliance and Traceability Solution Market by Deployment Mode
7.4.3 Rest of North America Compliance and Traceability Solution Market by Organization Size
7.4.4 Rest of North America Compliance and Traceability Solution Market by Vertical
Chapter 8. Company Profiles
8.1 SAP SE
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 SWOT Analysis
8.2 Tata Consultancy Services Ltd.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Omron Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 Mettler-Toledo International, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.5 Sys-Tech Solutions, Inc. (Dover Corporation)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional & Segmental Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Partnerships, Collaborations, and Agreements:
8.6 Optel Group
8.6.1 Company Overview
8.6.2 Recent strategies and developments:
8.6.2.1 Partnerships, Collaborations, and Agreements:
8.6.2.2 Product Launches and Product Expansions:
8.6.2.3 Acquisition and Mergers:
8.7 4CRisk.ai
8.7.1 Company Overview
8.8 Agrilyze
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.9 Tuleap
8.9.1 Company Overview
8.10. TraceLink, Inc.
8.10.1 Company Overview
Companies Mentioned
- SAP SE
- Tata Consultancy Services Ltd.
- Omron Corporation
- Mettler-Toledo International, Inc.
- Sys-Tech Solutions, Inc. (Dover Corporation)
- Optel Group
- 4CRisk.ai
- Agrilyze
- Tuleap
- TraceLink, Inc.
Methodology
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