DUBLIN–(BUSINESS WIRE)–The “India Track And Trace Solutions Market Outlook: Market Forecast By Products (Hardware, Software), By Technology, By Applications, By End Users, By Regions (Northern, Southern, Eastern, Western And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
The Indian Track And Trace Solutions Market size is projected to grow at CAGR of 10.5% during 2021-2027. The rising concerns of the manufacturers for packaging-related product recalls, growing focus of manufacturers on brand protection, high growth in the generic and OTC markets, and growth in the medical device industry are expected to drive the track & trace solutions market in the coming years.
Additionally, government regulations like the replacement of DAVA portal with iVEDA portal for enhancing the serialization uploading procedures and mandating all medical devices sold in India to include a unique device identification (UDI) from Jan 2022, would provide opportunities for deployment of track and trace solutions in the country in the years to come.
India Track and Trace Solutions Market Synopsis
India track and trace solutions market grew considerably in 2017-2020 owing to stringent regulations & standards like adhering to GS1 standards mandated by the government of India for the implementation of serialization. Further, in 2019, counterfeiting incidents increased by 24% as compared to 2018. Besides, from Feb-April 2020, after the outbreak of CORONAVIRUS, over 150 incidents of counterfeiting cases were reported, majorly about fake PPE kits, sanitizers, and masks. Also, according to media reports, pharma, FMCG, automotive, tobacco, alcohol, apparel, agriculture, lifestyle, infrastructure, and document are the 10 sectors impacted most by counterfeiting.
A spike in counterfeiting drugs and related products, and growing awareness of brand protection coupled with stringent government regulations for implementing serialization and aggregation solutions augmented the demand for track and trace solutions in the country in the previous period.
Market by Applications Analysis
In terms of Applications, Serialization solution have captured approximate two-third of the market revenues in 2020 and is expected to retain its dominance over the forthcoming years due to the increasing focus of regulatory bodies on the implementation of the serialization solution to decrease product diversion and drug counterfeiting However, aggregation solution segment is predicted to grow fastest in the forecast period as aggregation solutions allow for faster and easier tracking. This is because each package does not need to be scanned at each stop if the aggregated code is scanned.
Market by Regions Analysis
In India track and trace solutions market, southern region and northern region cumulatively have captured 68% of the market revenues in 2020, with southern region leading the market. Southern region captured key share of the market pie, owing to the prevalence of manufacturing base is in the southern region.
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Products
Hardware
By Technology
By Applications
By End Users
By Regions
Key Topics Covered:
1. Executive Summary
2. Introduction
3. India Track and Trace Solutions Market Overview
4. Impact Analysis of Covid-19 on India Track and Trace Solutions Market
5. India Track and Trace Solutions Market Dynamics
5.1. Impact Analysis
5.2. Market Drivers
5.3. Market Restraints
6. India Track and Trace Solutions Market Trends
7. India Track and Trace Solutions Market Overview, By Products
8. India Track and Trace Solutions Market Overview, By Technology
9. India Track and Trace Solutions Market Overview, By Applications
10. India Track and Trace Solutions Market Overview, By End Users
11. India Track and Trace Solutions Market Overview, By Regions
12. India Track and Trace Solutions Market – Key Performance Indicators
13. India Track and Trace Solutions Market Opportunity Assessment
14. India Track and Trace Solutions Market Competitive Landscape
15. Company Profiles
15.1. Jekson Vision Private Limited
15.2. Antares Vision S.r.l.
15.3. ACG Group
15.4. Kevision Systems
15.5. Optel Group
15.6. AVEVA Group PLC
15.7. Mettler-Toledo International Inc
15.8. Tracelink Inc.
15.9. Uhlmann Group Holding GmbH & Co. KG
15.10. Markem Imaje India Private Limited
16. Key Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/1rjgih
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