North America accounted for the largest revenue share in 2019; Asia-Pacific is expected to grow at the highest CAGR of 16.2% during the forecast period.
PORTLAND, OREGON, USA, September 1, 2022 /EINPresswire.com/ — The Track and Trace Solutions Market is expected to reach USD 6.1 Billion by 2027, registering a CAGR of 14.6% from 2020 to 2027. Major factors driving the growth of the global track and trace solutions market include adoption of advanced solutions tracking and tracing, supportive government intervention, and strict rules and regulations. serialization implementation standards.
𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝
Based on product type, the market is segmented into hardware systems and software solutions. The hardware systems market is sub-segmented into printing and marking solutions, monitoring and verification solutions, labeling solutions and others.
By technology, the market is categorized into barcodes and radio frequency identification (RFID). Barcoding is a common and cost effective method implemented to facilitate item and case level tracing, helping to dominate the barcode segment in 2019.
In 2019, the North American market witnessed supremacy in terms of revenue among other regions thanks to highly regulated sorting and integration standards, advanced healthcare infrastructure as well as the presence of key market players METTLER TOLEDO International Inc., TraceLink. Inc., Zebra Technologies Corporation and OPTEL GROUP.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
The major players operating in the market are Mettler Toledo International Inc., Xway Software SA, TraceLink Inc., Optel Group, Adents International, Siemens AG, Seedeneder Vision GmbH, Zebra Technology Corporation, Robert Bosch GmbH, and Uhlmann Group.
• Based on product type, the hardware systems segment was the largest contributor to the track and trace solutions market in 2019.
• On the basis of technology, the RFID segment is expected to register the fastest growth in the track and trace solutions market over the forecast period.
• Based on application, serialization solutions segment led the market in other applications
• On an end-user basis, the pharmaceutical and biotechnology companies segment dominated the track and trace solutions market in 2019 and is expected to continue this trend with a CAGR of 15.1% during the forecast period. .
• North America accounted for the largest revenue share in 2019; Asia-Pacific is expected to grow at the highest CAGR of 16.2% during the forecast period.
𝐖𝐞 𝐚𝐥𝐬𝐨 𝐎𝐟𝐟𝐞𝐫𝐬 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐝 𝐂𝐨𝐮𝐧𝐭𝐫𝐲:
• Track and trace solutions market in North America
• Japanese market for tracking and tracing solutions
• Market for tracking and tracing solutions in South Korea
• Singapore Track and Trace Solutions Market
• Australian track and trace solutions market
• Market for tracking and tracing solutions in Europe
• Chinese market for tracking and tracing solutions
• Taiwan Track and Trace Solutions Market
• Track and trace solutions market in New Zealand
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