Track and Trace Solutions Market Size, Share, Scope, Demand and Forecast
"The report ""Track and Trace Solutions Market by Product(Bundle Tracking, Checkweigher, Barcode Scanner, Labeler), Serialization (Carton, Bottle, Blister, Vial), Aggregation (Case, Pallet), Technology (2D Barcode, RFID), End User (Pharma, Food) - Global Forecast to 2028"", is projected to reach USD 9.8 billion by 2028 from USD 5.5 billion in 2023, at a high CAGR of 12.2% during the forecast period. Browse 372 market data Tables and 58 Figures spread through 346 Pages and in-depth TOC on ""Track and Trace Solutions Market by Product(Bundle Tracking, Checkweigher, Barcode Scanner, Labeler), Serialization (Carton, Bottle, Blister, Vial), Aggregation (Case, Pallet), Technology (2D Barcode, RFID), End User (Pharma, Food) - Global Forecast to 2028"" View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/track-trace-solution-market-158898570.html?utm_source=Linkedin-PR&utm_medium=K The significant drivers propelling track and trace solutions market growth include strict regulations and standards mandating the adoption of serialization, coupled with manufacturers placing a heightened emphasis on brand protection. Conversely, market growth is anticipated to be somewhat constrained due to the substantial costs, prolonged implementation timeframe linked to serialization and aggregation, and considerable setup expenses. “2D barcode technology accounts for the largest share in the track and trace solutions market.” The predominant technology in the track and trace solutions market is 2D barcode technology. In 2022, the 2D barcodes segment claimed the majority share of the technology market. The substantial dominance of the 2D barcode technology segment is attributed to the increasing adoption of 2D barcodes within the packaging industry, primarily due to their superior data storage capacity compared to linear barcodes. Also, the RFID segment is anticipated to exhibit the highest CAGR during the forecast period. This growth is fueled by the escalating demand for RFID systems in automated pharmaceutical distribution and medical devices, driven by the cost-effectiveness of these systems and the enhanced visibility they offer.