PUBLISHER: The Business Research Company | PRODUCT CODE: 1678574
PUBLISHER: The Business Research Company | PRODUCT CODE: 1678574
Track and trace solutions are software-based services that monitor vehicles, loading units, shipments, or products across the entire supply chain, allowing the tracking of a product's status throughout the value chain and retrospective validation of its path.
The track and trace solutions market encompasses two primary product categories: hardware systems and software solutions. Hardware systems represent the physical elements or components employed in tracking various assets such as desktops, laptops, and servers throughout their lifecycle-from acquisition to retirement. These systems leverage technologies such as 2D barcodes, radio frequency identification (RFID), and linear barcodes. Applications span serialization, aggregation, tracking, tracing, and reporting. End-users benefiting from these solutions include industries such as pharmaceuticals, biopharmaceuticals, medical devices, as well as the food and beverage sectors.
The track and trace solutions market research report is one of a series of new reports from The Business Research Company that provides track and trace solutions market statistics, including track and trace solutions industry global market size, regional shares, competitors with a track and trace solutions market share, detailed track and trace solutions market segments, market trends and opportunities, and any further data you may need to thrive in the track and trace solutions industry. This track and trace solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The track and trace solutions market size has grown rapidly in recent years. It will grow from $4.5 billion in 2024 to $5.04 billion in 2025 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to regulatory compliance, counterfeit prevention, supply chain visibility, customer demand for transparency, product recalls.
The track and trace solutions market size is expected to see rapid growth in the next few years. It will grow to $9.48 billion in 2029 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to industry-specific requirements, environmental and sustainability concerns, market globalization, data analytics and business intelligence. Major trends in the forecast period include integration of advanced technologies, supply chain digitization, emphasis on sustainability and environmental impact.
The anticipated growth of the healthcare sector is expected to drive the expansion of the track and trace solutions market. The healthcare sector includes a wide array of services and industries focused on diagnosing, treating, and preventing illnesses, as well as promoting overall well-being. This encompasses hospitals, clinics, pharmaceuticals, medical devices, and healthcare professionals. The growth in healthcare is attributed to an aging population, a rising prevalence of chronic diseases, advancements in medical technology, and an increasing demand for personalized and accessible healthcare services. Track and trace solutions are essential for ensuring patient safety, regulatory compliance, and maintaining the integrity of pharmaceutical products throughout the supply chain. They help prevent counterfeiting and facilitate effective recalls when necessary. For example, in March 2022, the Centers for Medicare & Medicaid Services, a U.S.-based federal agency, published the 2021-2030 National Health Expenditure (NHE) report, which projected that national health spending would increase by an average of 5.1% annually from 2021 to 2030, ultimately reaching nearly $6.8 trillion. Additionally, Medicare spending is expected to grow at an annual rate of 7.2%, while Medicaid spending will rise at a rate of 5.6% during the same period. Therefore, the growth of the healthcare sector is a significant driver of the track and trace solutions market.
The rapid expansion of E-commerce is expected to be a significant driving force for the track and trace solutions market. E-commerce, encompassing online trade and financial transactions, heavily relies on track and trace solutions to streamline operations and ensure supply chain integrity, fostering a more efficient and reliable online shopping experience. For instance, data from the United States Census Bureau in November 2023 revealed a remarkable 7.8% increase in retail e-commerce sales during the third quarter of 2023, amounting to an estimated $284.1 billion. Thus, the swift growth of E-commerce is propelling the track and trace solutions market.
Major players in the track and trace solutions market are intensively concentrating on cutting-edge technologies for real-time order tracking and delivery status enhancement to bolster their market position. Technologies enabling real-time tracking and delivery status provide comprehensive monitoring across the supply chain. For instance, in February 2023, the Chemours Company, a US-based chemical company, introduced Track & Trace, an advanced order tracking technology for its Ti-Pure Flex and Connect customers. This solution grants customers real-time order tracking through eCommerce portals, ensuring heightened visibility and supply reliability. Chemours plans to expand this beta version globally, integrating ocean and road/truck monitoring into Ti-Pure Flex and Connect portals, emphasizing their commitment to digital tools for increased efficiency and customer benefit.
Leading entities in the track and trace solutions market are prioritizing partnerships as a strategy to augment their market profitability. Partnerships in this domain entail collaborative alliances among various entities involved in developing, implementing, and utilizing systems designed for product or asset tracking throughout their lifecycle. For instance, in June 2022, The SEA Vision Group, an Italy-based provider of pharmaceutical software solutions, partnered with Marchesini Group, an Italy-based pharmaceutical packaging solutions provider, to introduce an innovative blister serialization and aggregation technology. This state-of-the-art technology revolutionizes healthcare product identification, tackling challenges related to counterfeiting. Its features include rapid blister foil printing, online/offline printing options, and a sophisticated track-and-trace system crafted by SEA Vision.
In January 2022, OPTEL Group, a Canada-based provider of traceability systems, acquired the pharmaceutical track and trace unit of Korber for an undisclosed amount. This acquisition aims to enhance OPTEL's expertise and expand its presence in the European market, particularly in Germany. Additionally, it seeks to strengthen the company's supply chain traceability offerings while establishing a partnership with Korber to deliver integrated solutions within the pharmaceutical sector. Korber is a technology company based in Germany.
Major companies operating in the track and trace solutions market include Robert Bosch Apparatebau GmbH, Siemens AG, Korber Medipak Systems AG, Grant-Soft Ltd., Mettler-Toledo International Inc., Syntegon Packaging Technology Ltda., Axway Software SA, Uhlmann Pac-Systeme GmbH & Co, Markem Imaje a Dover Company, Antares Vision SpA, SL Controls Ltd., Zetes Industries S.A., TraceLink Inc., Systech International Inc., WIPOTEC-OCS GmbH, Laetus GmbH, Sea Vision SRL, Seidenader Maschinenbau GmbH, RFxcel Corp, Optel Group, Stottler Henke Associates Inc., Circularise Corporate Company, Kezzler AS, BlueTrace BV, Alitheon Inc., Adents NovaTrack Company
North America was the largest region in the track and trace solution market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the track and trace solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the track and trace solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The track-and-trace solutions market includes revenues earned by entities by providing information about the entire supply chain and track product distribution. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Track And Trace Solutions Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on track and trace solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for track and trace solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The track and trace solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.