This report analyzes the track & trace market, in terms of geography, type and application.
The global track & trace market projected to reach a value of $56.0 billion by 2019 growing at a CAGR of 11.6% from 2014 to 2019. Asia-Pacific region is growing at the highest CAGR and North America region dominates the market.
The track and trace technology was initially implemented to enable manufacturers to monitor and track the whereabouts of their product in the supply chain and shipping; also to ensure that the food products and drugs reach the retailer or the end-user with least manipulation in the supply chain. Growing awareness among end-users is also encouraging the employment of track and trace devices such as bar codes and RFID (Radio Frequency Identification). RFID is gaining wide acceptance globally and is being used by many manufacturers to keep a tab on their products till it reaches the end-users.
Radio frequency identification or RFID is an upcoming market and is rapidly gaining ground as an efficient tool for anti-counterfeiting and supply chain management. RFID has the higher growth rate than any other market. In terms of information holding capacity, compared to barcodes, RFID tags can hold as much information as required by the vendor with the added advantage of the providing upgraded information as per the movement of product in the supply chain.
Globally, the track & trace market is driven by growing demand for secure packaging, increase awareness and FDA initiative and rising consumption of counterfeit products sold in BRIC (Brazil, Russia, India, and China) economies is higher than those in developed countries, as their developing markets provide good growth potential specifically in the food and pharmaceutical sector.
Track & Trace Market Share (Value), by Geography, 2013
Source: Secondary Research, Company Websites and MarketsandMarkets Analysis
The track & trace market is segmented as mentioned below:-
Track & trace Market, by Type
• Barcodes (Inkjet, Laser & Thermal)
• Radio Frequency Identification (RFID)
• Real Time Locating Systems (RTLS)
• Food & Beverage
• North America
• Rest of the World (ROW)
Benchmarking the rapid strategy shifts of the Top 100 companies in the Track & Trace Technologies Market, by Type (Barcodes, RFID, RTLS, Others), Application (Food & Beverage, Pharmaceuticals, Other Industrial Applications), RegionRequest For Special Pricing