The Growth in the Track and Trace Solutions Market is attributed to the growing number of counterfeit drugs entering the supply chain, increasing focus on consumer and patient safety, increasing number of packaging related product recalls, and government legislation for the implementation of serialization in track and trace systems to ensure supply chain efficiency across the globe.

Stringent regulations and standards for the implementation of serialization, increasing the focus of manufacturers on brand protection, growth in the medical devices and pharmaceutical industries, and a rising number of packaging related product recalls are the major factors driving the growth of the Track and Trace Solutions Market.

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This research report segments this Track and Trace Solutions Market based on software type, technology, application, end users, and regions.

Track and Trace Solutions Market Based on software type;

Based on software type, the market is segmented into plant manager, line controller, enterprise and network manager, bundle tracking, warehouse and shipment manager, case tracking, and pallet tracking software. The plant manager segment accounted for the major share of the track and trace software market.

The large share of this segment can primarily be attributed to the rising need for a secure supply chain of pharmaceutical and medical devices industry along with strict government legislation. The enterprise and network manager segment are expected to register the highest growth during the forecast period.

Track and Trace Solutions Market Based on Application;

On the basis of application, the market is segmented into serialization, aggregation, and tracking, tracing, and reporting solutions. The serialization solutions segment accounted for the major share of the Track and Trace Solutions Market. The large share of this segment is majorly attributed to stringent government regulations for the implementation of serialization across the globe.

The tracking, tracing, & reporting solutions 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.

Track and Trace Solutions Market Based on Technology;

On the basis of technology, the market is segmented into linear barcodes, 2D barcodes, and Radio Frequency Identification (RFID). In 2017, the 2D barcodes segment accounted for the major share of the track and trace technology market. The advantages of 2D barcodes, such as they have higher data storage capacities as well as contain large amounts of data with fewer variations in image size. This is a major factor driving the Track and Trace Solutions Market for 2D barcodes.

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