NEW YORK, Nov. 16, 2021 /PRNewswire/ -- The "Track and Trace Market by Technology and Geography - Forecast and Analysis 2021-2025" report has been added to Technavio's offering.
The track and trace market value is anticipated to grow by USD 6.41 billion between 2020 and 2025, accelerating at a CAGR of over 6% during the forecast period.
Market Dynamics
The market is driven by factors such as the stringent government regulations for implementing serialization and rise in the adoption of advanced track and trace solutions. But the high deployment cost of serialization will be hindering the market growth.
The growth in the number of packaging-related product recalls will offer significant growth opportunities. However, the existence of technologies that deter counterfeiters might impact the business of vendors during the forecast period.
Company Profiles
The track and trace market report includes information on the product launches, sustainability, and prospects of leading vendors including Antares Vision SpA, Korber AG, Mettler Toledo, Optel Group, Robert Bosch GmbH, SAP SE, SEA Vision Srl, Syntegon Technology GmbH, TraceLink Inc., and Xyntek Inc.
Competitive Analysis
The competitive scenario provided in the track and trace market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Market Segmentation
The RFID segment generated maximum revenue in the market in 2020. The market growth in the segment is expected to be significant during the forecast period. By geography, North America will have the largest share of the market. The region currently holds 30% of the global market share. The US is the key market for track and trace in North America.
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Track and Trace Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 6% |
Market growth 2021-2025 |
USD 6.41 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.96 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
North America at 30% |
Key consumer countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Antares Vision SpA, Korber AG, Mettler Toledo, Optel Group, Robert Bosch GmbH, SAP SE, SEA Vision Srl, Syntegon Technology GmbH, TraceLink Inc., and Xyntek Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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