Track and Trace Solutions Market

Antares Vision (Italy), OPTEL Vision (Canada), and TraceLink (US) are Prominent Players in the Track and Trace Solutions Market

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%. Growth in the market is largely driven by stringent regulations & standards for the implementation of serialization, increasing focus of manufacturers on brand protection, growth in the number of packaging-related product recalls, high growth in the generic and OTC markets, and growth in the medical device industry.

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), Videojet Technologies, Inc. (US), Zebra Technologies Corporation (US), Axway Inc. (US), rfxcel Corporation (US), ACG Worldwide (India), Laetus GmbH (Germany), WIPOTEC-OCS (Germany), and Domino Printing Sciences plc (UK) are the leading players in the track and trace solutions market. These companies are focusing on increasing their presence in high-growth markets through both organic and inorganic growth strategies such as product and service launches, approvals, and enhancements; expansions; agreements, collaborations, and partnerships; and mergers & acquisitions.

Antares Vision is a leading player in the track & trace solutions market. The company offers a comprehensive portfolio for track and trace solutions, widely used by pharmaceutical companies for primary and secondary packaging across the globe. Its track and trace solutions include products for serialization, aggregation, and a flexible software suite. Antares has a large installed base for its serialization and aggregation solutions across the world. The company mainly focuses on expansions, product launches, and partnerships to maintain its position in the market. Antares has a strong presence across the globe through eight company sites and 30 local partners. The company’s extensive R&D activities for new product development and its increasing focus on the establishment of new manufacturing sites offer significant growth opportunities in the future. In addition, continuous product innovation and technological advancement allow the company to offer cutting-edge solutions aligned with manufacturing and regulatory requirements. The company also delivers after-sales systems designed to provide customers with full long-term support.

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OPTEL Vision is a leading provider in the track and trace hardware market. This can be attributed to its highly diversified track and trace product portfolio, which includes track & trace and serialization solutions for pharmaceutical and medical device companies. The company focuses on increasing its presence in this market through continuous R&D to provide technologically advanced products to its customers. OPTEL has a well-established presence across the globe including North America, Europe, Asia, and Latin America with additional manufacturing facilities in Ireland, India, and Brazil. The company mainly focuses on product development to enhance its presence in the track and trace solutions market. For instance, in March 2017, OPTEL launched Fast Series, a line of preconfigured track & trace products. Optel Vision also focuses on expansion as its business strategy. The company expanded its production facility in Quebec City and in India during 2016 as well as opened a new manufacturing facility in Brazil in May 2017.

In 2018, TraceLink was at the leading position in track and trace software solutions market. TraceLink forms the worlds largest track and trace network that provides cloud-based track and trace solutions to pharmaceutical companies, wholesale distributors, contract manufacturers, and packagers. The company’s Life Sciences Cloud is the world’s largest pharmaceutical track and trace network with serialization application for supply chain efficiency. TraceLink offers suitable solutions for regulatory requirements in countries such as the US, China, Brazil, India, and South Korea. The company focuses on agreements and partnerships to strengthen its position in the market. For instance, in March 2017, TraceLink entered into an agreement with Advanco (Brussels) to resell ARC Suite software for easy deployment of serialization solutions for all packaging levels.

Related Reports:

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

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Report Code
HIT 4597
RI Published ON
4/25/2019
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