Global Track and Trace Solutions Market | Growth, Share, Trend

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Blockchain Adoption to Fuel the Global Track and
Trace Solutions Market at CAGR of 12.75 by 2028
Triton Market Research presents the Global Track
and Trace Solutions Market segmented by
Technology (RFID, Barcode), Product (Software
Solutions Bundle Tracking Software, Plant
Manager Software, Line Controller Software,
Other Software Solutions, Hardware Systems
Monitoring and Verification Solutions, Printing
and Marking Solutions, Labeling Solutions, Other
Hardware Systems), End-user (Medical Device
Companies, Pharmaceutical Companies, Other
End-users), Application (Aggregation Solutions
Case Aggregation, Bundle Aggregation, Pallet
Aggregation, Serialization Solutions Carton
Serialization, Bottle Serialization, Data Matrix
Serialization, Label Serialization, and by
Geography (Middle East and Africa, Asia-Pacific,
Europe, Latin America, North America). The market
report further discusses the Market Summary,
Industry Outlook, Market Definition, Key
Insights, Evolution and Transition of the
market, Porters Five Forces Analysis, Market
Attractiveness Index, Vendor Scorecard,
Regulatory Framework, Drivers, Restraints,
Opportunities, Challenges, Competitive Landscape,
Methodology Scope, Global Market Size,
Forecasts Analysis (2019-2028).
Tritons report alludes that the global track and
trace solutions market is predicted to display
growth in revenue by 12.75 of CAGR during the
considered years of 2019-2028. Request a Free
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Track and trace solutions refer to products and
software that assist in tracking products in the
supply chain, ensuring the efficient and secure
transfer of products from the manufacturer to the
end-user. These technologies also protect
against the counterfeiting of products. Blockchain
technology assists in secure peer-to-peer
communication between the members of a group to
attain advancements in the supply chain process.
It primarily collects transaction blocks in a
chain. Many companies are adopting blockchain
technology to improve their supply chain
transparency, ensuring efficient tracking of the
products. Hence, blockchain technologys adoption
increases transparency and security, opening
multiple opportunities for the track and trace
solutions market globally. However, the lack of
common standards poses significant challenges for
the track and trace solutions markets
future. North America holds the largest market
for track and trace solutions, and is further
expected to continue its stronghold till 2028.
The regions dominance is mainly owing to the
highly regulated serialization and aggregation
standards, along with the well-developed
healthcare infrastructure. Furthermore, the FDA
has suggested implementing automatic
identification technologies, such as RFID and
barcoding, to pharmaceutical and healthcare
companies, influencing the demand for track and
trace solutions. Above all, the region
manufacturers must include a product identifier
number on every prescription drug packages,
positively affecting the demand for track and
trace solutions. Hence, these factors indicate a
robust growth of the track and trace solutions
market in the upcoming years. The prominent
companies competing in this market are Siemens
AG, Zebra Technologies Corporation, Optel Group,
rfxcel Corporation, Seidenader Maschinenbau GmbH,
Mettler Toledo International Inc, ACG Group, SEA
Vision Srl, Antares Vision SPA, Axway, Systech
International, Korber AG, Tracelink Inc, and
Xyntek Inc. In the track and trace solutions
market, the threat from the entry of new players
is expected to be high, owing to the limited
initial capital required and rising need for
high-valued drugs. Here, the limited barriers
and surging demand for such systems influence the
new players to enter the market. Similarly, the
competition among the existing players is likely
to remain high during the considered years. This
intense competition is mainly because of
companies comprehensive growth strategies,
including strategic alliances and product
differentiation. Contact Us sales_at_tritonmarketr
esearch.com Phone [phone]