Track And Trace Solutions Market Analysis & Forecast: 2025-2032

Track And Trace Solutions Market Analysis & Forecast: 2025-2032

Track and Trace Solutions Market is estimated to be valued at USD 4,622.4 Mn in 2025 and is expected to reach USD 12,139.4 Mn in 2032, exhibiting a compound annual growth rate (CAGR) of 14.79% from 2025 to 2032.

Key Takeaways

• Based on Product Type, the Hardware System segment is expected to contribute the highest shares in market in 2025, owing to the growing demand for printing and marketing solutions.
• Based on the Technology, the Barcode segment is projected to dominate with a share of 57.0% in 2025, supported by the broad utility of application.
• Based on Application, the Serialization Solution segment is expected to lead the market with largest share in the market in 2025, owing to the focused manufacturing of safety.
• Based on End-User, the Pharmaceutical and Biotechnology Companies’ segment is contributed to lead with the greatest share in the market in 2025, attributed to the need to protect the drugs.
• Based on Region, North America is expected to lead the global market with 39.0% share of the market in 2025, owing to the presence of major market players. While, Europe is anticipated to be the fastest growing region during the forecast period.

Market Overview

The market also benefits from the increase in packaging-related product recalls and counterfeit drug cases, which have contributed to the growing need for tracking and tracing solutions. The rise in the number of manufacturing companies that are investing heavily in these technologies is anticipated to create new business opportunities for vendors. 

Current Events and their Impact on the Track and Trace Solutions Market

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Role of Artificial Intelligence (AI) in Track and Trace Solutions Market

Integration of artificial intelligence into track and track solution is transforming cross various industries such as logistics, manufacturing, healthcare, and retail by offering real-time visibility, predict analytics and automation of complex supply chain. The real-time visibility aspect is achieved through the AI-powered sensors and IoT devices which collects continuous data on location, temperature, vibration and many more. The data is later processed by the Ai algorithms to provide live dashboard, alert and route optimization. For instance, AI is used in a cold-chain logistics to monitor and alert when vaccines are outside in a safe temperature. AI is commonly applicable in manufacturing industry to monitor movement or raw material and semi-finished goods with factory premise, in retail and e-commerce to track last-mile delivery, in healthcare and pharmaceuticals to ensure cold-chain integrity and have tamper-proof tracking, and in automative to track movement of parts across global supply network.

In February 2025, DJI launched the RS 4 Mini, its latest lightweight camera gimbal packed with flagship feature and enhanced usability. The standout feature is the RS intelligence tacking module, which bring AI-powered subject tracking to ensure human subjects stays in the frame seamlessly.

Segmental Insights

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Track and Trace Solutions Market, By Technology, Barcode – Widely Beneficial

Barcode is expected to dominate the global market with 57.0% share in the market in 2025 and this is attributed to rise in demand for barcodes due to its benefits across various industries. A barcode is used to track inventory or assets in various industries such as healthcare. They are an efficient measure to identify inventory. The use of barcodes in pharmaceutical industry offers traceability for eliminating counterfeits, and ensuring safety of patients, and other benefits.

In September 2024, the Government of India launched barcode system for biomedical waste management and curb illegal handling at hospitals. This digital system is designed to monitor the final disposal, ensuring greater accountability and control.

RFID segment is also expected to witness significant growth in the near future and this is owing to the increase in application in biotechnology and pharmaceutical companies and hospitals. These applications are for tracking equipment, inventory control, preventing distribution of counterfeit drugs and devices, and personal tracking among others.

Track and Trace Solutions Market, By Product Type, Demand for Printing and Marketing is Driving the Hardware Systems Segment Growth

Hardware Systems is expected to dominate the global market in 2025 with largest shares, attributed to the growing demand for printing and marketing solutions that assist in the supply chain and production ensuring quality and authenticity of products. The hardware systems of track and trace solutions include monitoring and verification solutions, printing and marketing solutions, and others. The demand for these solutions is growing across several industries, which is driving growth of this segment.

In May 2024, Yale University launched its new Hardware Asset management (HAM) system, this initiative led by Yale’s Information technology Services (ITS). They aim to enhance the tracking and lifecycle management of university-owned computing equipment.

Software Solutions segment is also expected to witness significant growth in the near future and this is owing to the increasing adoption in pharmaceutical, biotechnology, and medical device companies for constantly managing manufacturing plants, bundle, case, and product line tracking, and shipping and warehousing. Software solutions help serialize and aggregate with focus on the preservation of performance of packaging lines and effectiveness of other equipment. The growing demand for these solutions is likely to drive track and trace solutions market growth in the coming year.

Track and Trace Solutions Market, By Application, Serialization Solution- Focused Manufacturing

Serialization Solution is expected to dominate the global market over the forecast period and this is attributed to the increasing focus of manufacturers on safety of their patients and protecting brand image. Serialization is a key step for complying with electronic pedigree law that is needed for product traceability in a supply chain. Thus, demand for track and trace solutions is increasing in serialization applications, which is further likely to boost growth of this segment in the global market.

In June 2024, Azerbaijan announced a mandatory use of serialization of medicines. This action has made the country work quite proactively on enhancing the track and trace system and achieve supply chain excellence.

Bottle Serialization segment is also expected to witness significant growth in the near future and this is owing to the growing demand bottle serialization software. The use of labels facilitates track and trace solution for the serialization of each pharmaceutical bottle. The bottle serialization software manages the verification of serial numbers and it facilitates bottle aggregation into secondary packages with no impact on the production flow. Thus, demand for this solution is growing, which in turn is boosting the track and trace solutions market revenue.

Track and Trace Solutions Market, By End User, Pharmaceutical & Biotechnology Companies- Protection of Drugs

Pharmaceutical & Biotechnology Companies is expected to dominate the global market over the forecast period and this is attributed to the rise in focus of these companies on ensuring protection of brand from counterfeit drugs. The demand for track and trace solutions is increase across this sector to track counterfeit products or drugs and theft, which is accelerating growth of the segment.

In March 2025, Körber launched the latest version of its PAS-X Track & Trace solution, designed to minimize total cost of ownership (TCO) and enhance efficiency by comprehensive lifecycle management and seamless, vendor-agnostic system integration.

Medical Device Segment is also expected to witness significant growth in the near future and this is owing to the various advantages of track and trace solutions in medical sectors. These solutions help companies in medical device sector in inspection and serialization of production and packaging lines of medical devices. Each device gets a unique serial number, through which it is tracked to know it selling cost for specific device. Thus, widespread adoption of track and trace solutions in medical device industry is driving growth of the market.

Regional Insights

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North America Track and Trace Solutions Market Analysis and Trends

North America is expected to dominate the in the global track and trace solutions market with the 39.0% share in 2025. This can be attributed to presence of major market players such as METTLER TOLEDO International Inc., rfxcel Corporation, and others in the region. Moreover, availability of advanced healthcare infrastructure, and widespread adoption of track and trace solutions in the region are the factors supporting growth of the market in North America. Moreover, increasing development of advanced track and trace technology is driving the adoption of barcode systems in the region, as it offers efficient inventory management and ease of operation. Thus, the region is likely to show strong growth in the near future.

In November 2024, SEE ID, Inc. doing business as Dot Ai (“Dot Ai”), a ground-breaking startup at the lead of asset intelligence technology, and Würth Industry North America (WINA), a leading industrial distributor and division of the Würth Group, announced the execution of a Partner Distribution agreement. This five-year agreement will bring advanced, AI-driven tracking solutions to WINA's customers, offering extraordinary visibility into internal and customer premise operations. 

Europe Track and Trace Solutions Market Analysis and Trends

Europe is also projected to exhibit major growth in the global track and trace solutions market during the forecast period, owing to presence of developed countries in the region such as the U.K., Germany, France, Italy, and Turkey. Moreover, the E.U. is aiming progressive implementation of track and trace solutions in the healthcare supply chain for dealing with drug counterfeiting and theft in the region. Thus, the adoption of track and trace solutions is growing in the region, which is likely to augment the track and trace market share.

Track And Trace Solutions Market Outlook Country-wise

The United States Track and Trace Solutions Market

The United States is leading the track and trace solution market. The primary driver is the regulatory compliance, operational efficiency, consumer safety and technological development. In pharmaceutical industry and food industry. under the Drug Supply Chain Security Act (DSCSA) the pharmaceutical companies track and trace the prescribed drugs from manufacturing to distributing. This ensures the drug safety and prevent counterfeit drug from entering the market. A well-designed track and track solution in businesses provide them with a tool to ensure product integrity, enhance supply chain and meet legal requirement. This ultimately leads to building trust within consumers.

Germany Track and Trace Solutions Market

Germany is the leading ground in Europe, owing to its stringent regulatory requirements into pharmaceutical and food safety industry. it is mandatory to serialization and traceability to combat counterfeiting and safeguard product safety. Along with that, the major companies existing in Germany are focusing on increasing their product safety, authenticity and supply chain visibility, which contribute to fueling the track and trace solution market revenue.

Global Track and Trace Solutions Market Trends

RFID technology is gaining traction in the market

The role of radio-frequency identification technology plays a significant role in inventory management and supply-chain operations, as well as in product handling and improvement of security. Due to its major benefits in tracking and tracing, the demand for RFID technology is increasing across several industries. With increasing counterfeiting activities, the demand for these solutions is expected to continue in the market, which in turn will support growth of the track and trace solutions market revenue over the forecast period.

Increase in adoption in pharmaceutical industry

The use of track and trace solution has increased in the pharmaceutical industry for verification of product ID, management of logistics and packaging. Government regulations across the globe need pharmaceutical companies to serialize their products. Moreover, advanced solutions of track and tracing are increasingly being adopted across pharmaceutical industry. Thus, this trend is expected to continue in the track and trace solutions market growth over the forecast period.

Global Track and Trace Solutions Market Drivers

Increasing adoption of advanced track and trace solutions to fuel the market growth

The use of advanced track and trace solutions allows manufacturers tracking of the real time progress of products in transit across the supply chain. The development of new and advanced tracking technologies such as barcode and radio-frequency identification (RFID) continues to increase by these companies. For instance, in April 2025, Avery Dennison launched first RFID manufacturing plant in Pune, India. This marks a major move by the company to support the local adoption of RFID technology and contribute to India’s “Make in India” initiative. 

Supportive initiatives by government to augment the market pace

Governments of several countries around the world are focusing in regulating and controlling counterfeit activities and are offering legislative support to organizations dealing with such activities. Governments in developed countries have established various regulatory policies to control counterfeit practices. For instance, in Germany government authority have implemented rules and regulations for distributors/manufactures/affected parties, to take counter action against counterfeiters. Thus, such supportive initiatives by governments are likely to boost the track and trace solutions market demand over the forecast period.

Global Track and Trace Solutions Market Restraints

High initial cost required for setup of infrastructure to hamper the market pace

To implement product identification setups, it requires a high capital investment. Such high cost of setups cannot be always feasible for low-cost products. These factors are not in the scenario in developed countries, as government of these countries offer support for ground infrastructure. However, in emerging countries, such as India, there is lack of government support for such infrastructure. Thus, high cost of 

track and trace solution infrastructure is likely to hinder growth of the global market in such countries. However, increasing number of market players are focusing on development of cost-effective solutions, which is likely to support growth of the market in the near future.

Availability of alternative technologies to prevent counterfeiters to limit the market growth

Some of the track and trace technologies have their shortcomings. For instance, RFID has shortcomings in terms of orientation, obscuration, and multiple tracking. Conventional methods of anti-counterfeiting involving special hologram labels and tamper-resistant packaging can be inadequate, as duplicating labels is easy for counterfeiters. Thus, this factor is expected to hamper growth of the global track and trace solutions market over the forecast period.

Global Track and Trace Solutions Market Opportunities

Increasing technological developments is anticipated to bring multiple growth opportunities in the market over the forecast period. Due to the high-cost structure, the practical implementation of these solutions is disrupted. However, companies are constantly involved in development of new cost-effective tracking solutions. This can create major opportunities in medical devices, pharmaceutical products, and others. Due to technological development in sleeve labels, several packaging industry applications are emerging and it is also improving the shelf life of pharmaceutical product.

Remote product authentication feature is expected to generate business opportunities in the global track and trace solutions market over the forecast period. Conventional brand protection technologies such as authentication and anti-theft are designed for protecting each item separately instead of protecting to whole supply chain together. Thus, false products can be introduced to the supply chain at any time. To overcome this, solutions that have non-line-of-sight or automatic capabilities are needed. The demand for such technologies having modular designs is increasing and it will bring lucrative opportunities in the market in the coming future.

Market Report Scope

Track And Trace Solutions Market Report Coverage

Key Developments

• In May 2025, Trackonomy, a pioneer in enterprise logistics innovation, launched LastMile solutions, a game-changing technology for logistics leaders grappling with uncoordinated transfer to third party, missed deliveries, costly manual scanning, repeat deliveries, and lack of visibility, all of which hinder effective customer service.
• In April 2025, Tive, a supply chain and logistics visibility technology, launched its Solo Pro a validated, real-time visibility tracker for biologics and pharmaceutical shipments—designed to streamline product releases, reduce excursions, achieve compliance, and protect product integrity from point of origin to point of delivery.
• In March 2025, Systech, a part of Markem-Imaje and Dover and a provider of digital identification and traceability software solutions, launched Unosecure artAI, an Ai-powered authentication solution designed to safeguard brands, ensure packaging quality and protect patients.  
• In February 2025, Shadowfax launched of SF Shield, a technology initiative designed for logistics security and operational efficiency. SF Shield serves as a multi-layered security platform which combines track and track solution and SF Eye to enhance visibility, security and control across logistic operations.

Analyst Opinion (Expert Opinion)

The Asia-Pacific region is witnessing significant regulatory and technological shifts that are poised to reshape supply chain and traceability landscapes. In China, the government’s "Smart Logistics 2025" initiative marks a strategic commitment to enhancing cross-border e-commerce capabilities, with a $3.8 billion investment earmarked for RFID and IoT infrastructure. This initiative is expected to drive broad adoption of smart tracking systems, improve end-to-end visibility, and elevate compliance standards across logistics networks. Meanwhile, India’s pharmaceutical sector is undergoing a critical transformation with the enforcement of 100% serialization for drug exports, a market valued at over $50 billion. This mandate is accelerating the need for scalable, cost-efficient labeling and traceability solutions, particularly among exporters aiming to maintain global market access and meet stringent quality benchmarks. Both developments underscore a growing emphasis on digital transparency and regulatory alignment across Asia-Pacific's high-growth sector.

Detailed Segmentation:

• Global Track and Trace Solutions Market, By Product Type:
  • Hardware Systems
    • Printing and Marking Solutions
    • Monitoring and Verification Solutions
    • Labeling Solutions
    • Others
  • Software Solutions
    • Plant Manager Software
    • Line Controller Software
    • Bundle Tracking Software
    • Others
• Global Track and Trace Solutions Market, By Technology:
  • Barcode
  • RFID
• Global Track and Trace Solutions Market, By Application:
  • Serialization Solutions
    • Bottle Serialization
    • Label Serialization
    • Carton Serialization
    • Data Matrix Serialization
  • Aggregation Solutions
    • Bundle Aggregation
    • Case Aggregation
    • Pallet Aggregation
• Global Track and Trace Solutions Market, By End User:
  • Pharmaceutical & Biotechnology Companies
  • Medical Device Companies
  • Others
• Global Track and Trace Solutions Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Key Companies Insights
  • Tracelink Inc.
  • Adents International
  • Seidenader Maschinenbau Gmbh.
  • Axway Software SA
  • Siemens Ag
  • Mettler Toledo International Inc.
  • Robert Bosch Gmbh
  • Optel Group.

Sources

Primary Research Interviews from the following stakeholders:

Stakeholders:

• Interviews with logistics and supply chain managers, IT solution providers, packaging manufacturers, transportation companies, and quality control specialists across key Indian markets.

Specific Stakeholders:

• Procurement managers at logistics and transportation companies (e.g., Blue Dart, Gati)
• Product managers from domestic track and trace solution providers (e.g., Savi Technology, Natrix Technologies)
• Distributors and dealers in logistics, retail, and B2B markets (e.g., Delhi, Mumbai, Bangalore)
• IT heads at large-scale manufacturers with global supply chains (e.g., Samsung India, Bosch)
• Engineers in small and medium enterprises (SMEs) implementing tracking systems for logistics operations

Databases:

• Ministry of Statistics and Programme Implementation (MoSPI)
• Directorate General of Commercial Intelligence and Statistics (DGCIS)
• Indian Customs Export-Import Data Bank
• India Brand Equity Foundation (IBEF)
• National Sample Survey Office (NSSO)

Magazines:

• Supply Chain Management Review India
• Logistics Management India
• Transport and Logistics News
• Packaging South Asia
• Tech in Logistics India

Journals:

• Journal of Manufacturing and Industrial Engineering
• Journal of Supply Chain Management
• International Journal of Logistics Systems and Management
• Indian Journal of Transport Management
• Journal of Applied Industrial Engineering

Newspapers:

• The Economic Times
• The Hindu Business Line
• Financial Express
• Mint
• Business Standard

Associations:

• Indian Institute of Materials Management (IIMM)
• Confederation of Indian Industry (CII)
• Federation of Indian Chambers of Commerce & Industry (FICCI)
• All India Transporters Welfare Association (AITWA)
• Indian Packaging Institute (IPI)

Public Domain Sources:

• Ministry of Heavy Industries (Government of India)
• Bureau of Indian Standards (BIS)
• NITI Aayog
• Central Electricity Authority (CEA)
• India Energy Dashboard (by NITI Aayog)
• Reserve Bank of India (RBI) Reports on Infrastructure & MSMEs

Proprietary Elements:

• CMI Data Analytics Tool, and Proprietary CMI Existing Repository of information for last 8 years

*Definition: Track and Trace Solutions enable businesses to take a holistic view of their operations and monitor the entire supply chain with complete visibility. This empowers them to minimize risk, protect their relationships with suppliers and drive accountability across their production processes.