Global Track and Trace Solutions Market 2018-2023 by Type, Technology, Application, and End User - Market Expected to Grow at a CAGR of 18.9% - ResearchAndMarkets.com

DUBLIN--()--The "Track and Trace Solutions Market by Type (Plant Manager, Checkweigher, Barcode Scanner, Monitoring), Technology (2d Barcode, RFID), Application (Serialization, Aggregations), End User (Pharmaceutical, Medical Devices) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The track and trace solutions market is estimated to reach USD 3.93 Billion by 2023 from USD 1.65 Billion in 2018, at a CAGR of 18.9%.

Stringent regulations and standards for the implementation of serialization, increasing focus of manufacturers on brand protection, growth in the medical devices and pharmaceutical industries, and rising number of packaging related product recalls are the major factors driving the growth of the market. However, the high cost associated with serialization and aggregation may hinder the growth of this market. Furthermore, the lack of common standards for serialization and aggregation is a major challenge for the growth of the track and trace solutions market.

Based on technology, the market is segmented into linear/1D barcodes, 2D barcodes, and radiofrequency identification (RFID). The RFID segment will be the fastest-growing segment during the forecast period. The high growth of this segment can primarily be attributed to the growing demand for these systems in automated pharmaceutical distribution, point-of-care solutions, and electronic medical records. However, security and privacy concerns, a large amount of initial installation cost, and lack of skilled professionals may restrain the growth of this market to a certain extent.

Market Dynamics

Drivers

  • Stringent Regulations & Standards for the Implementation of Serialization
  • Increasing Focus of Manufacturers on Brand Protection
  • Growth in the Number of Packaging-Related Product Recalls
  • Growth in the Medical Devices and Pharmaceutical Industries

Restraints

  • High Costs Associated With Serialization and Aggregation

Opportunities

  • Growing Number of Manufacturing Facilities in Developing Regions
  • Technological Advancements

Challenges

  • Lack of Common Standards for Serialization and Aggregation

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Insights

7 Track and Trace Solutions Market, by Type

8 Track and Trace Solutions Market, by Technology

9 Track and Trace Solutions Market, by Application

10 Track and Trace Solutions Market, by End User

11 Track and Trace Solutions Market, by Region

12 Competitive Landscape

13 Company Profiles

  • ACG Worldwide
  • Adents
  • Antares Vision
  • Axway
  • Krber Medipak Systems
  • Mettler Toledo
  • Optel Group
  • Sea Vision
  • Siemens
  • Systech
  • Tracelink
  • Xyntek
  • Zebra Technologies

For more information about this report visit https://www.researchandmarkets.com/research/ntfmzs/global_track_and?w=4

Contacts

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Related Topics: RFID, Pharmaceutical Packaging

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: RFID, Pharmaceutical Packaging