About Trace Solutions
As the material and product parts in the manufacturing process travel a great distance throughout the supply chain process, the proper documentation and validations at each step becomes crucial to achieve the traceability. It needs accurate labelling and tracking capabilities in sequence for monitoring the movement of goods from pre-production to quality control. The trace solution provides powerful tools that can achieve the traceability during the complete supply chain process. The global trace solution market is projected to witness a significant growth due to growth in the number of packaging-related product recalls and the growth in the pharmaceutical industries and medical devices
|Value (USD Million)
The Global Trace Solution market is fragmented with numerous regional and international players involved in implementing solutions for the market. The market players are also in collaboration with other companies. The top players in the market are focusing on launching new services for the pharmaceutical industries and medical devices. Analyst at AMA Research estimates that United States and German Players will contribute the maximum growth to Global Trace Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Antares Vision (Italy), Siemens (Germany), Axway (France), Mettler Toledo (United States), Optel Group (Canada), Tracelink (United States), ACG Worldwide (India), Adents (France), Sea Vision (Italy) and Zebra Technologies (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Körber Medipak Systems (Germany), Systech (United States) and Xyntek (United States).
AMA Research has segmented the market of Global Trace Solutions market by Type (Hardware Systems and Software Systems), Application (Serialization, Aggregations and Reporting) and Region. On the basis of Type, Hardware Systems are dominating the market in the year 2021
where as Software Systems stood as second largest market share.On the basis of application, Serialization segment is dominating the market in the year 2021 where as Aggregations segment stood as second largest market .
On the basis of geography, the market of Trace Solutions 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). North America region held largest market share in the year 2021. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. 1D Barcodes will boost the Trace Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Pharmaceutical will boost the Trace Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In March 2022- Trace3 Acquires LaSalle Solutions, According to the company, LaSalle's infrastructure lifecycle management platform, or LAMP is an asset management tool designed to assist clients in optimizing the management of their IT environment. According to Trace3, the newly combined company will be a leading provider of technology solutions in the cloud, data intelligence, security, and overall enterprise IT.
In December 2021 - Monotech Systems launched the supply chain authentication and tracking solution Tracesci. DGM software and applications development, Monotech Systems has launched a very effective and commercially viable supply chain authentication and tracking solution.
"The Food and Drug Administration (FDA) mandated bar code identification on all unit-dose medication packaging in addition to at least two forms of anti-counterfeiting protection on the packaging in the 1987 Prescription Drug Marketing Act, which went into effect in 2006. Both houses of the United States Congress are investigating medication product security issues, and as of late 2007, 23 states had passed laws requiring an electronic pedigree (e-pedigree)."
- Growth in the pharmaceutical industries and medical devices
- Strict regulations & standards for the implementation of serialization
- The untapped market of developing regions
- Technological advancements
- High costs related with serialization and aggregation
- Lack of common standards for serialization and aggregation
Key Target Audience
Trace solution manufacturers, suppliers, and distributors, Original equipment manufacturers (OEMs), Hardware system manufacturers, Pharmaceutical and biotechnology companies, Medical device companies and Government bodies
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.