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Track and Trace Solutions Market Report and Forecast 2023-2028

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    Report

  • 171 Pages
  • September 2023
  • Region: Global
  • Expert Market Research
  • ID: 5878838
According to the report, the global track and trace solutions market reached a value of USD 3 billion in 2022. Aided by the escalating need for supply chain transparency and the surge in counterfeit products in various sectors, the market is projected to further grow at a CAGR of 15.10% between 2023 and 2028 to reach a value of USD 6.91 billion by 2028.

Track and trace solutions offer a systematic approach to identifying and locating products and assets at any given time using various technologies like barcoding, QR coding, and RFID. These solutions are instrumental in assuring product safety, especially in sensitive sectors such as pharmaceuticals, food and beverages, and electronics, by providing visibility into the origin, journey, and destination of products.

A key driver steering the track and trace solutions market growth is the mounting concern surrounding counterfeit products. As the counterfeit market becomes increasingly sophisticated, industries are grappling to ensure the authenticity and safety of their products. This concern has heightened the need for robust track and trace systems that can provide end-to-end visibility and authentication.

The rise in stringent regulatory requirements, especially in the pharmaceutical sector, is further bolstering the adoption of track and trace solutions. Regulatory bodies, including the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), mandate strict traceability measures to prevent counterfeit medicines from entering the market. Such measures have instigated pharmaceutical companies to incorporate advanced track and trace mechanisms to adhere to compliance, ensuring both patient safety and brand integrity.

In the era of e-commerce and globalised trade, the complexities of the supply chain have multiplied which is shaping the track and trace solutions market outlook. Consumers, more informed and discerning than ever, are increasingly demanding transparency about product sourcing, ethical practices, and ecological footprints. Track and trace solutions are uniquely positioned to address this demand by providing precise information about a product's entire lifecycle, from production to delivery.

Moreover, advancements in technology, such as the integration of Internet of Things (IoT) devices and cloud computing, have significantly enriched the capabilities of track and trace systems. Real-time monitoring, predictive analytics, and instant notifications are now crucial features that enhance the accuracy, speed, and reliability of these solutions. These technological evolutions not only add layers of security but also optimise logistics and inventory management for businesses.

Further intensifying the track and trace solutions market demand is the critical role track and trace solutions play in minimising wastage and optimising resource allocation in sectors like agriculture and food and beverages. As the world grapples with sustainability challenges, the ability to monitor and manage the supply chain efficiently is paramount. Track and trace systems help in mitigating losses, ensuring product quality, and promoting responsible sourcing, thereby fostering sustainable practices.

Market Segmentation

The market can be divided based on product type, technology, application, end user, and region.

Market Breakup by Product Type

Hardware Systems

  • Printing and Marking Solutions
  • Monitoring and Verification Solutions
  • Labelling Solutions
  • Others

Software Solutions

  • Plant Manager Software
  • Line Controller Software
  • Bundle Tracking Software
  • Others

Market Breakup by Technology

  • Barcode
  • RFID

Market Breakup by Application

Serialisation Solutions

  • Bottle Serialisation
  • Label Serialisation
  • Carton Serialisation
  • Data Matrix Serialisation

Aggregation Solutions

  • Bundle Aggregation
  • Case Aggregation
  • Pallet Aggregation
  • Others

Market Breakup by End User

  • Pharmaceutical and Biotechnology Companies
  • Medical Device Companies
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global track and trace solutions market. Some of the major players explored in the report are as follows:
  • Adents International
  • Axway
  • Mettler Toledo International Inc.
  • Optel Group
  • Robert Bosch Gmbh
  • Others

About the Publisher

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.

Table of Contents

1 Preface2 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 Industry Opportunities and Challenges
8 Global Track and Trace Solutions Market Analysis
8.1 Key Industry Highlights
8.2 Global Track and Trace Solutions Historical Market (2018-2022)
8.3 Global Track and Trace Solutions Market Forecast (2023-2028)
8.4 Global Track and Trace Solutions Market by Product Type
8.4.1 Hardware Systems
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Type
8.4.1.4.1 Printing and Marking Solutions
8.4.1.4.1.1 Market Share
8.4.1.4.1.2 Historical Trend (2018-2022)
8.4.1.4.1.3 Forecast Trend (2023-2028)
8.4.1.4.2 Monitoring and Verification Solutions
8.4.1.4.2.1 Market Share
8.4.1.4.2.2 Historical Trend (2018-2022)
8.4.1.4.2.3 Forecast Trend (2023-2028)
8.4.1.4.3 Labelling Solutions
8.4.1.4.3.1 Market Share
8.4.1.4.3.2 Historical Trend (2018-2022)
8.4.1.4.3.3 Forecast Trend (2023-2028)
8.4.1.4.4 Others
8.4.2 Software Solutions
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Plant Manager Software
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2018-2022)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 Line Controller Software
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2018-2022)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.4.2.4.3 Bundle Tracking Software
8.4.2.4.3.1 Market Share
8.4.2.4.3.2 Historical Trend (2018-2022)
8.4.2.4.3.3 Forecast Trend (2023-2028)
8.4.2.4.4 Others
8.5 Global Track and Trace Solutions Market by Technology
8.5.1 Barcode
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 RFID
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Track and Trace Solutions Market by Application
8.6.1 Serialisation Solutions
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.1.4 Breakup by Type
8.6.1.4.1 Bottle Serialisation
8.6.1.4.1.1 Market Share
8.6.1.4.1.2 Historical Trend (2018-2022)
8.6.1.4.1.3 Forecast Trend (2023-2028)
8.6.1.4.2 Label Serialisation
8.6.1.4.2.1 Market Share
8.6.1.4.2.2 Historical Trend (2018-2022)
8.6.1.4.2.3 Forecast Trend (2023-2028)
8.6.1.4.3 Carton Serialisation
8.6.1.4.3.1 Market Share
8.6.1.4.3.2 Historical Trend (2018-2022)
8.6.1.4.3.3 Forecast Trend (2023-2028)
8.6.1.4.4 Data Matrix Serialisation
8.6.1.4.4.1 Market Share
8.6.1.4.4.2 Historical Trend (2018-2022)
8.6.1.4.4.3 Forecast Trend (2023-2028)
8.6.2 Aggregation Solutions
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.2.4 Breakup by Type
8.6.2.4.1 Bundle Aggregation
8.6.2.4.1.1 Market Share
8.6.2.4.1.2 Historical Trend (2018-2022)
8.6.2.4.1.3 Forecast Trend (2023-2028)
8.6.2.4.2 Case Aggregation
8.6.2.4.2.1 Market Share
8.6.2.4.2.2 Historical Trend (2018-2022)
8.6.2.4.2.3 Forecast Trend (2023-2028)
8.6.2.4.3 Pallet Aggregation
8.6.2.4.3.1 Market Share
8.6.2.4.3.2 Historical Trend (2018-2022)
8.6.2.4.3.3 Forecast Trend (2023-2028)
8.6.2.4.4 Others
8.7 Global Track and Trace Solutions Market by End User
8.7.1 Pharmaceutical and Biotechnology Companies
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Medical Device Companies
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Others
8.8 Global Track and Trace Solutions Market by Region
8.8.1 Market Share
8.8.1.1 North America
8.8.1.2 Europe
8.8.1.3 Asia Pacific
8.8.1.4 Latin America
8.8.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Adents International
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Axway
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Mettler Toledo International Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Optel Group
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Robert Bosch Gmbh
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Track and Trace Solutions Market: Key Industry Highlights, 2018 and 2028
2. Global Track and Trace Solutions Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Track and Trace Solutions Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Track and Trace Solutions Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. Global Track and Trace Solutions Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. Global Track and Trace Solutions Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Track and Trace Solutions Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Track and Trace Solutions Historical Market: Breakup by End User (USD Billion), 2018-2022
9. Global Track and Trace Solutions Market Forecast: Breakup by End User (USD Billion), 2023-2028
10. Global Track and Trace Solutions Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Track and Trace Solutions Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Track and Trace Solutions Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Track and Trace Solutions Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Track and Trace Solutions Market Structure

Companies Mentioned

  • Adents International
  • Axway
  • Mettler Toledo International Inc.
  • Optel Group
  • Robert Bosch Gmbh

Methodology

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Table Information