Track and Trace Solutions Market Will Grow at a Steady Rate of 15.7% CAGR from 2014 to 2025: Grand View Research, Inc.
The global track and trace solutions market size is expected
to reach USD 5.2 billion by 2025, according to a new report by Grand View
Research, Inc. The track and trace solutions market is anticipated to witness a
high growth during the forecastperiod from 2016 to 2025. The high growth is attributed
to a majority of factors, such as the increasing focus of pharmaceutical &
biopharmaceutical companies on ensuring brand protection. The pharmaceuticals
& medical devices manufacturers encounter a major threat from counterfeit
products and theft. The deployment of track and trace solution helps
manufacturers enhance distribution channel efficiency and reduces the frequency
of counterfeit products.
Furthermore, rising adoption of
track and trace solution by healthcare manufacturers would fuel the market growth
in the long run. Introduction of advanced technology, such as RFID, provides
fast reading and delivers high levels of security. However, the deployment cost
of serialization & aggregation solutions, as well as lack of common
regulations and standards,is expected to hamper market growth.
Global track and trace
solutions market, by region, 2014 - 2025 (USD Million)
Browse full research report on
Track and Trace Solutions Market
Further key findings from the
report suggest:
- The software
solutions segment was the largest revenue-generating segment of the track
and trace solutions market in 2015. This contribution ismainly because of
the regulatory mandates for the execution of serialization &
aggregation in healthcare sector
- The
serialization solution was the largest grossing segment in 2015.
Increasing application of serialization in pharmaceuticals & medical
devices packaging will be a vital factor contributing to the sector growth
- The RFID
segment is expected to exhibit fastest growth rate during the study
period. The key factors attributing to the growth of the segment are technological
advantages, such as high durability and reusability, more data storage
capacity, and no requirement of line of sight
- North America
is estimated to reign the global market in the year 2015. The rising
implementation of regulatory standards & regulations along with high
adoption rate of track and trace solutions by consumers is anticipated to
contribute to the market growth
- Somekey
players serving track and trace solutions market includeAxway;
Mettler-Toledo International, Inc.; Optel Vision;Adents International;
Antares Vision srl; TraceLink, Inc.;Siemens AG;ACG Worldwide,Seidenader
Maschinenbau GmbH;and Systech, Inc.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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