Track and Trace Solutions Market worth $4.21 billion by 2024
The Track and Trace Solutions Market is projected to reach USD 4.21 billion by 2024 from USD 2.16 billion in 2019, at a CAGR of 14.2%
(EMAILWIRE.COM, June 22, 2019 ) According to the new market research report “Track and Trace Solutions Market by Product (Plant Manager, Checkweigher, Barcode Scanner, Verification) Technology (2D Barcode, RFID) Application (Serialization, Aggregations, Reporting) End User (Pharmaceutical, Medical Devices) — Global Forecast to 2024”, published by MarketsandMarkets™
The major factors driving the growth of this market include the stringent regulations & standards for the implementation of serialization, increasing the focus of manufacturers on brand protection, increasing number of packaging-related product recalls, high growth in the generic and OTC markets, and the growing medical device industry.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=158898570
By Software type, the plant manager software segment accounted for the largest share of the track and trace software market
Based on types of software, the Track and Trace Solutions Market is segmented into plant manager, line controller, enterprise & network manager, bundle tracking, warehouse & shipment manager, case tracking, and pallet tracking software. The plant manager segment accounted for the largest market share in 2018. The rising need to secure the supply chain of pharmaceutical and medical devices manufacturing industries along with strict government legislation are the key factors driving the growth of the plant manager segment.
Browse and in-depth TOC on “Track and Trace Solutions Market”
264 — Tables
52 — Figures
301 — Pages
By technology, 2D barcodes segment accounted for the largest share of the Track and Trace Solutions Market
On the basis of technology, the Track and Trace Solutions Market is segmented into linear barcodes, 2D barcodes, and Radio Frequency Identification (RFID). The 2D barcodes segment accounted for the largest market share in 2018. 2D barcodes are preferred for packaging over linear barcodes as they have a higher data storage capacity and contain large amounts of data with fewer variations in image size. This is a major factor driving the Track and Trace Solutions Market for 2D barcodes.
North America is the largest regional market for track and trace solutions
North America accounted for the largest share of the Track and Trace Solutions Market in 2018, followed by Europe. Factors such as the presence of a large number of pharmaceutical & biotechnology companies and medical device manufacturers, stringent regulations regarding serialization, and the growing medical devices market, are driving the growth of the Track and Trace Solutions Market in North America.
Read a Press-Release on “Track and Trace Solutions Market”:
https://www.marketsandmarkets.com/PressReleases/track-trace-solution.asp
Prominent players in the Track and Trace Solutions Market are 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), Siemens AG (Germany), Uhlmann Group (Germany), Jekson Vision (India)
The major factors driving the growth of this market include the stringent regulations & standards for the implementation of serialization, increasing the focus of manufacturers on brand protection, increasing number of packaging-related product recalls, high growth in the generic and OTC markets, and the growing medical device industry.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=158898570
By Software type, the plant manager software segment accounted for the largest share of the track and trace software market
Based on types of software, the Track and Trace Solutions Market is segmented into plant manager, line controller, enterprise & network manager, bundle tracking, warehouse & shipment manager, case tracking, and pallet tracking software. The plant manager segment accounted for the largest market share in 2018. The rising need to secure the supply chain of pharmaceutical and medical devices manufacturing industries along with strict government legislation are the key factors driving the growth of the plant manager segment.
Browse and in-depth TOC on “Track and Trace Solutions Market”
264 — Tables
52 — Figures
301 — Pages
By technology, 2D barcodes segment accounted for the largest share of the Track and Trace Solutions Market
On the basis of technology, the Track and Trace Solutions Market is segmented into linear barcodes, 2D barcodes, and Radio Frequency Identification (RFID). The 2D barcodes segment accounted for the largest market share in 2018. 2D barcodes are preferred for packaging over linear barcodes as they have a higher data storage capacity and contain large amounts of data with fewer variations in image size. This is a major factor driving the Track and Trace Solutions Market for 2D barcodes.
North America is the largest regional market for track and trace solutions
North America accounted for the largest share of the Track and Trace Solutions Market in 2018, followed by Europe. Factors such as the presence of a large number of pharmaceutical & biotechnology companies and medical device manufacturers, stringent regulations regarding serialization, and the growing medical devices market, are driving the growth of the Track and Trace Solutions Market in North America.
Read a Press-Release on “Track and Trace Solutions Market”:
https://www.marketsandmarkets.com/PressReleases/track-trace-solution.asp
Prominent players in the Track and Trace Solutions Market are 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), Siemens AG (Germany), Uhlmann Group (Germany), Jekson Vision (India)
Contact Information:
MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results