Track and Trace Solutions Market

Track and Trace Solutions Market worth $9.8 billion by 2028

The report "Track and Trace Solutions Market by Product(Bundle Tracking, Checkweigher, Barcode Scanner, Labeler), Serialization (Carton, Bottle, Blister, Vial), Aggregation (Case, Pallet), Technology (2D Barcode, RFID), End User (Pharma, Food) - Global Forecast to 2028", is projected to reach USD 9.8 billion by 2028 from USD 5.5 billion in 2023, at a high CAGR of 12.2% during the forecast period.

Browse 372 market data Tables and 58 Figures spread through 346 Pages and in-depth TOC on "Track and Trace Solutions Market by Product(Bundle Tracking, Checkweigher, Barcode Scanner, Labeler), Serialization (Carton, Bottle, Blister, Vial), Aggregation (Case, Pallet), Technology (2D Barcode, RFID), End User (Pharma, Food) - Global Forecast to 2028"
View detailed Table of Content here -

The significant drivers propelling track and trace solutions market growth include strict regulations and standards mandating the adoption of serialization, coupled with manufacturers placing a heightened emphasis on brand protection. Conversely, market growth is anticipated to be somewhat constrained due to the substantial costs, prolonged implementation timeframe linked to serialization and aggregation, and considerable setup expenses.

“2D barcode technology accounts for the largest share in the track and trace solutions market.”

The predominant technology in the track and trace solutions market is 2D barcode technology. In 2022, the 2D barcodes segment claimed the majority share of the technology market. The substantial dominance of the 2D barcode technology segment is attributed to the increasing adoption of 2D barcodes within the packaging industry, primarily due to their superior data storage capacity compared to linear barcodes. Also, the RFID segment is anticipated to exhibit the highest CAGR during the forecast period. This growth is fueled by the escalating demand for RFID systems in automated pharmaceutical distribution and medical devices, driven by the cost-effectiveness of these systems and the enhanced visibility they offer.

“Pharmaceutical and biopharmaceutical companies are expected to witness highest growth rate in track and trace solutions market in 2022.”

In 2022, the pharmaceutical and biopharmaceutical companies segment held the dominant market share. This segment is forecasted to experience the highest CAGR. The significant prevalence of this segment is primarily linked to the pervasive issue of drug counterfeiting on a global scale and the heightened emphasis on preventing the infiltration of counterfeit products into the supply chain of pharmaceutical and biopharmaceutical entities.

“North America accounted for the largest share of the track and trace solutions market in 2022.”

In the year 2022, North America held the majority share of the global track and trace solutions market. This growth was propelled by the well-established healthcare systems in the US and Canada, the concentration f numerous pharmaceutical, biotechnology, and medical device manufacturing companies, rigorous regulations pertaining to serialization, and the expanding market for medical devices.

Key Market Players :

The key players functioning in the track and trace solutions market include ANTARES VISION S.p.A (Italy), Axway (France), OPTEL GROUP (Canada), TraceLink Inc. (US), Syntegon Technology GmbH (Germany), ACG (India), Marchesini Group S.p.A. (Italy), Markem-Imaje, a Dover Company. (Switzerland), Uhlmann (Germany), Siemens (Germany), SAP SE (Germany), Zebra Technologies Corp. (US), METTLER TOLEDO (US), IBM (US), WIPOTEC GmbH (Germany), VISIOTT Technologie GmbH (Turkey), Jekson Vision (India), Kevision (India), TrackTraceRX Inc. (US), Arvato - Bertelsmann SE & Co. KGaA (Germany), 3KEYS GmbH (Germany), RN Mark Inc (Canada), Kezzler (Norway), Shubham Automation Pvt. Ltd. (India), and Bar Code India Limited (India).

Don’t miss out on business opportunities in Track and Trace Solutions Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Track and Trace Solutions Market Size,  Share & Growth Report
Report Code
HIT 4597
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Track and Trace Solutions Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets