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According to the new market research report “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” published by MarketsandMarkets™.How the Market Growth looks like and Industry Segmentation?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%.Based on types of software, the track and trace solutions market is segmented into plant manager, line controller, enterprise & network manager, bundle tracking, warehouse & shipment manager, case tracking, and pallet tracking software.
The plant manager segment accounted for the largest market share in 2018.
The rising need to secure the supply chain of pharmaceutical and medical devices manufacturing industries along with strict government legislation are the key factors driving the growth of the plant manager segment.Based on application, the track and trace solutions market is segmented into serialization, aggregation, and tracking, tracing, and reporting solutions.
The tracking, tracing, & reporting solutions segment is expected to register the highest CAGR during the forecast period.
The high growth of this segment is attributed to the increasing number of regulations such as DSCSA, UDI, and Medical Device Reporting (MDR) for medical devices and pharmaceutical products.Browse 264 market data Tables and 52 Figures spread through 300 Pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=158898570Recent Developments in Industry:In 2018, Antares Vision launched its product, ATSFOUR, an enterprise-level serialization software solution.
The new ATSFOUR integrates the Antares Tracking System architecture and offers a comprehensive solution which allows the widest connection capability for any traceability network.In 2018, Ropack Pharma Solutions (Canada) signed an agreement with TraceLink (US) in order to achieve DSCSA compliance for its pharmaceutical customers.In 2017, OPTEL Group (Canada) acquired Verify Brand LLC (US).