What is Real Time Tracking and Tracing System Market Scope?
The importance of tracking and tracing is seen as quite high for manufacturing companies in terms of customer service and is essential for the efficient management of logistics networks. Global industries have problems with both tracking and tracing in their logistics networks, which creates enormous coordination problems across product development locations. This problem loses track of production, delivery, and sales in the entire logistics chain from source to destination, which is responsible for the opportunity costs due to customer dissatisfaction. The tracking system helps identify the position of the shipment and informs the customer in good time. Without a tracking system, it is almost impossible to find shipped items, which are often viewed as lost or stolen and are causing business losses. This system may meet the requirements of the project manager to map the production process from transportation to material management. Tracking technologies in logistics networks are relatively little implemented in the global technology industry. A largely high volume of global industry has hereby implemented this technology with limited capabilities. The basic methods for all of these tracking systems are usually limited to giving the customer access to the tracking information. They are in the area of tracking the shipments through manual queries, e.g. via a website or a phone call, by e-mail, fax or to participate the development of system interfaces or integration into the tracking system.
The Real Time Tracking and Tracing System market study is being classified and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Real Time Tracking and Tracing System market throughout the predicted period.
Favendo (Germany), Suraj Informatics (India), OPTEL Group (Canada), Robert Bosch GmbH (Germany), Alpega Group (Belgium), TomTom International BV (Netherlands), Concox Information Technology Co., Ltd. (China), Letstrack (India), Wireless Solution Co. (Saudi Arabia), Laird PLC (United Kingdom), Zebra Technologies Corporation (United States), Blume Global (United States), Teltonika UAB (Lithuania), CalAmp Corp (United States), Sierra Wireless Inc. (Canada), Vee Technologies (United States), Meitrack Group (China) and Prosoftek Tracking (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Geotab Inc. (Canada), ATrack Technology Inc. Ltd. (Taiwan), Trackimo LLC (United States) and Orbcomm (United States).
Analyst at AMA have segmented the market study of Global Real Time Tracking and Tracing System market by Type, Application and Region.
On the basis of geography, the market of Real Time Tracking and Tracing System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In 2017, OPTEL Group had acquired Verify Brand LLC. The addition of Verify Brandís L4/5 serialization capabilities to the various OPTEL solution set thereby enabled the connectivity that was required for pharma companies to implement Track & Trace across the entire supply chain (L1 to L5).
Influencing Market Trend
- Growing Need for Flawless and Efficient Communication Network between a Remote Operator and the Object or an Individual
- The High Adoption of Track and Trace Systems by Biopharma and Pharmaceutical Companies
- An Increase in Bridging the Gap between Field Service and Office Desk Tasks
- Increasing Focus of Manufacturers on Brand Protection
- Growing Potentials for the Logistics Network
- Growth in the Number of Packaging-Related Product Recalls
- The Increasing Awareness and Technological Advancement of Track and Trace Systems
- The Proliferation of IoT Is Also Expected To Create Numerous Opportunities for the Market
- Rise in the Installation of Tracking and Tracing Systems across Various Public Transport Systems
- Regulatory Compliances with the GPS Fleet Tracking System
- Risk of Technical Inaccuracy in the GPS Fleet Tracking System
Key Target AudienceProviders of Real-Time Tracking and Tracing System, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
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