Track and Trace Solutions Market Expected to Grow at 4.21 Billion In Revenue by 2024- In New Research

A latest published report on “Track and Trace Solutions Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.

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The Track and Trace Solutions Market is projected to reach US$ 4.21 Billion by 2024 from US$ 2.16 Billion in 2019, at a CAGR of 14.2%. This report spread across 301 Pages, Profiling 15 Companies and Supported with 264 Tables and 52 figures is now available in this research.

 

The report profiles the key players in the Track and Trace Solutions Market and analyzes their market rankings. A few prominent players profiled in this report include OPTEL Group (Canada), Mettler-Toledo International Inc. (US), Systech International Inc. (US), TraceLink Inc. (US), Antares Vision (Italy), SAP (US), Xyntek Inc. (US), Adents International (France), SEA Vision Srl (Italy), Robert Bosch (Germany), Körber Medipak Systems AG (Switzerland) and Others.

On the basis of product, the track and trace solutions market is segmented into software, hardware components, and standalone platforms. The standalone platforms segment is expected to register the highest CAGR during the forecast period. The stringent government regulations for the implementation of serialization and UDI codes in the pharma and medical device industry, increasing pressure on pharmaceutical companies to adopt serialization, and increasing demand for standalone platforms to reduce the serialization implementation time frame are some of the major factors driving the growth of this market segment.

 

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Based on application, the track and trace solutions market is segmented into serialization; aggregation; and tracking, tracing, and reporting solutions. The tracking, tracing, & reporting solutions segment is expected to register the highest CAGR owing to the increasing number of regulations such as DSCSA, UDI, and Medical Device Reporting (MDR) for medical devices and pharmaceutical products.

 

Breakdown of primary participants’ profile:

  • By Company Type: Tier 1–46%, Tier 2–33%, and Tier 3–21%
  • By Designation: C-level–43%, Director Level–35%, and Others–22%
  • By Region: North America–34%, Europe–26%, Asia Pacific–19%, Latin America–11%,and the Middle East & Africa–10%

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