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South & Central America Track & Trace Solution Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and Industry (Pharmaceutical, Medical Devices, Consumer Goods, Food & Beverages, and Others)
Market Report I 2023-08-22 I 160 Pages I The Insight Partners
The South & Central America track & trace solution market is expected to grow from US$ 456.11 million in 2023 to US$ 926.75 million by 2028. It is estimated to register a CAGR of 15.2% from 2023 to 2028.
Growth in Offshore Pharmaceutical Manufacturing Fuels South & Central America Track & Trace Solution Market
Offshoring contract manufacturing is for large pharma firms looking to increase productivity and efficiency in drug manufacturing. The developing nations are significantly developing their pharmaceutical facilities and services and are heading toward technological advancements. Moreover, pharmaceutical companies need to report the movement of all drug products into Brazil to the Brazilian Government's health surveillance organization-ANVISA (Agencia Nacional de Vigilancia Sanitaria). They must also provide complete access to ANVISA to their compliance systems through a web browser. The Government of Brazil has initiated various programs and systems for tracking and tracing drugs. For instance, in 2018, the National Drug Control System (SNCM) was implemented to track and trace medicines. SNCM has rolled out a 2D barcode insertion rule that includes a single randomized serial number, national registration number, lot number, and expiration date in a single drug package. Thus, the opportunities for players entering the market with cost-effective products are higher.
South & Central America Track & Trace Solution Market Overview
The South & Central America track & trace solution market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil is expected to account for the largest market share and is expected to develop moderately in the South & Central America. Brazil has the most complex serialization track and trace regulations. Under these regulations, a registration holder, i.e., a manufacturer or importer, must track all drug product movements, from manufacturing to dispensing. The Brazilian Food & Beverage sector provides social and economic importance, with technology representing a key factor for competitiveness. Therefore, a track & trace solution acts as a key factor, particularly in the food & beverage sector in Brazil. With the above facts, the tracking system appears as an essential instrument that supports business logistics and management in Brazil. For example, tracking through Blockchain technology creates an information trail and ensures data security. Also, blockchain-based traceability enables secure information sharing and facilitates product quality monitoring/control, operation monitoring/control, real-time data acquisition, transparency, and visibility across the entire supply chain. The aforementioned factors are responsible for the accelerated demand for track & trace solutions in Brazil, contributing a major share of the food & beverage industry.
South & Central America Track & Trace Solution Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Track & Trace Solution Market Segmentation
The South & Central America track & trace solution market is segmented into component, enterprise size, application, industry, and country.
Based on component, the South & Central America track & trace solution market is bifurcated into hardware and software. The software segment held a larger share of the South & Central America track & trace solution market in 2023.
Based on enterprise size, the South & Central America track & trace solution market is segmented into SMEs and large enterprise. The large enterprise segment held a larger share of the South & Central America track & trace solution market in 2023.
Based on application, the South & Central America track & trace solution market is segmented into serialization and aggregation. The serialization segment held a larger share of the South & Central America track & trace solution market in 2023.
Based on industry, the South & Central America track & trace solution market is segmented into pharmaceutical, medical devices, consumer goods, food & beverages, and others. The pharmaceutical segment held the largest share of the South & Central America track & trace solution market in 2023.
Based on country, the South & Central America track & trace solution market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America track & trace solution market in 2023.
ACG, Antares Vision SPA, Axway Software SA, Markem-Imaje AG, Mettler-Toledo International Inc, Optel Group, SEA Vision Grp, Siemens AG, TraceLink Inc, and Zebra Technologies Corp are the leading companies operating in the South & Central America track & trace solution market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 South & Central America Track & Trace Solution Market - by Component
1.3.2 South & Central America Track & Trace Solution Market - by Enterprise Size
1.3.3 South & Central America Track & Trace Solution Market - by Application
1.3.4 South & Central America Track & Trace Solution Market - by End User
1.3.5 South & Central America Track & Trace Solution Market - by Country
2. South & Central America Track & Trace Solution Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Track & Trace Solution Market - Market Landscape
4.1 Overview
4.2 South & Central America PEST Analysis
4.3 Expert's Opinion
5. South & Central America Track & Trace Solution Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Regulations and Criteria for Implementation of Serialization
5.1.2 Increasing Number of Packaging-Related Product Recalls
5.2 Market Restraints
5.2.1 High Cost of Products and Implementation
5.3 Market Opportunities
5.3.1 Growth in Offshore Pharmaceutical Manufacturing
5.4 Future Trends
5.4.1 Continuous Technological Advancements
5.5 Impact Analysis
6. Track & Trace Solution Market - South & Central America Analysis
6.1 South & Central America Track & Trace Solution Market Revenue Forecast and Analysis
7. South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 - by Component.
7.1 Overview
7.2 South & Central America Track & Trace Solution Market Revenue Share, by Component 2022 & 2028 (%)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.3.3 Barcode Scanner
7.3.3.1 Overview
7.3.3.2 Barcode Scanner: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.3.4 Radio-Frequency Identification (RFID) Readers
7.3.4.1 Overview
7.3.4.2 Radio-Frequency Identification (RFID) Readers: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.3.5 Others
7.3.5.1 Overview
7.3.5.2 Others: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4.3 Plant Manager
7.4.3.1 Overview
7.4.3.2 Plant Manager: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4.4 Line Controller
7.4.4.1 Overview
7.4.4.2 Line Controller: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
7.4.5 Others
7.4.5.1 Overview
7.4.5.2 Others: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
8. South & Central America Track & Trace Solution Market Analysis and Forecasts to 2028 - by Enterprise Size
8.1 Overview
8.2 South & Central America Track & Trace Solution Market, by Enterprise Size 2022 & 2028 (%)
8.3 SMEs
8.3.1 Overview
8.3.2 SMEs: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Large Enterprise
8.4.1 Overview
8.4.2 Large Enterprise: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
9. South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 - by Application
9.1 Overview
9.2 South & Central America Track & Trace Solution Market Revenue Share, by Application 2022 & 2028 (%)
9.3 Serialization
9.3.1 Overview
9.3.2 Serialization: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
9.4 Aggregation
9.4.1 Overview
9.4.2 Aggregation: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10. South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 - by End User
10.1 Overview
10.2 South & Central America Track & Trace Solution Market Revenue Share, by End User 2022 & 2028 (%)
10.3 Pharmaceuticals
10.3.1 Overview
10.3.2 Pharmaceuticals: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.4 Medical Devices
10.4.1 Overview
10.4.2 Medical Devices: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.5 Consumer Goods
10.5.1 Overview
10.5.2 Consumer Goods: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.6 Food & Beverages
10.6.1 Overview
10.6.2 Food & Beverages: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11. South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 - Country Analysis
11.1 Overview
11.1.1 South & Central America Track & Trace Solution Market, by Country, 2022 & 2028 (%)
11.1.1.1 Brazil: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 Overview
11.1.1.1.2 Brazil: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.3 Brazil: South & Central America Track & Trace Solution Market, by Component, 2020-2028 (US$ Million)
11.1.1.1.3.1 Brazil: South & Central America Track & Trace Solution Market, by Hardware, 2020-2028 (US$ Million)
11.1.1.1.3.2 Brazil: South & Central America Track & Trace Solution Market, by Software, 2020-2028 (US$ Million)
11.1.1.1.4 Brazil: South & Central America Track & Trace Solution Market, by Enterprise Size, 2020-2028 (US$ Million)
11.1.1.1.5 Brazil: South & Central America Track & Trace Solution Market, by Application, 2020-2028 (US$ Million)
11.1.1.1.6 Brazil: South & Central America Track & Trace Solution Market, by End User, 2020-2028 (US$ Million)
11.1.1.2 Argentina: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Overview
11.1.1.2.2 Argentina: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.3 Argentina: South & Central America Track & Trace Solution Market, by Component, 2020-2028 (US$ Million)
11.1.1.2.3.1 Argentina: South & Central America Track & Trace Solution Market, by Hardware, 2020-2028 (US$ Million)
11.1.1.2.3.2 Argentina: South & Central America Track & Trace Solution Market, by Software, 2020-2028 (US$ Million)
11.1.1.2.4 Argentina: South & Central America Track & Trace Solution Market, by Enterprise Size, 2020-2028 (US$ Million)
11.1.1.2.5 Argentina: South & Central America Track & Trace Solution Market, by Application, 2020-2028 (US$ Million)
11.1.1.2.6 Argentina: South & Central America Track & Trace Solution Market, by End User, 2020-2028 (US$ Million)
11.1.1.3 Rest of South & Central America: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Overview
11.1.1.3.2 Rest of South & Central America: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.3 Rest of South & Central America: South & Central America Track & Trace Solution Market, by Component, 2020-2028 (US$ Million)
11.1.1.3.3.1 Rest of South & Central America: South & Central America Track & Trace Solution Market, by Hardware, 2020-2028 (US$ Million)
11.1.1.3.3.2 Rest of South & Central America: South & Central America Track & Trace Solution Market, by Software, 2020-2028 (US$ Million)
11.1.1.3.4 Rest of South & Central America: South & Central America Track & Trace Solution Market, by Enterprise Size, 2020-2028 (US$ Million)
11.1.1.3.5 Rest of South & Central America: South & Central America Track & Trace Solution Market, by Application, 2020-2028 (US$ Million)
11.1.1.3.6 Rest of South & Central America: South & Central America Track & Trace Solution Market, by End User, 2020-2028 (US$ Million)
12. South & Central America Track & Trace Solution Market - Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 ACG
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Axway Software SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Antares Vision SPA
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Markem-Imaje AG
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Mettler-Toledo International Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Optel Group
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 SEA Vision Grp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Siemens AG
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 TraceLink Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Zebra Technologies Corp
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Brazil: South & Central America Track & Trace Solution Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 2. Brazil: South & Central America Track & Trace Solution Market, by Hardware - Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: South & Central America Track & Trace Solution Market, by Software - Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: South & Central America Track & Trace Solution Market, by Enterprise Size - Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: South & Central America Track & Trace Solution Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 6. Brazil: South & Central America Track & Trace Solution Market, by End User - Revenue and Forecast to 2028 (US$ Million).
Table 7. Argentina: South & Central America Track & Trace Solution Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: South & Central America Track & Trace Solution Market, by Hardware - Revenue and Forecast to 2028 (US$ Million)
Table 9. Argentina: South & Central America Track & Trace Solution Market, by Software - Revenue and Forecast to 2028 (US$ Million)
Table 10. Argentina: South & Central America Track & Trace Solution Market, by Enterprise Size - Revenue and Forecast to 2028 (US$ Million)
Table 11. Argentina: South & Central America Track & Trace Solution Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 12. Argentina: South & Central America Track & Trace Solution Market, by End User - Revenue and Forecast to 2028 (US$ Million).
Table 13. Rest of South & Central America: South & Central America Track & Trace Solution Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of South & Central America: South & Central America Track & Trace Solution Market, by Hardware - Revenue and Forecast to 2028 (US$ Million)
Table 15. Rest of South & Central America: South & Central America Track & Trace Solution Market, by Software - Revenue and Forecast to 2028 (US$ Million)
Table 16. Rest of South & Central America: South & Central America Track & Trace Solution Market, by Enterprise Size - Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of South & Central America: South & Central America Track & Trace Solution Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of South & Central America: South & Central America Track & Trace Solution Market, by End User - Revenue and Forecast to 2028 (US$ Million).
Table 19. Organic Developments Done by Companies
Table 20. Inorganic Developments Done by Companies
Table 21. Glossary of Terms
LIST OF FIGURES
Figure 1. South & Central America Track & Trace Solution Market Segmentation
Figure 2. South & Central America Track & Trace Solution Market, by Country
Figure 3. South & Central America Track & Trace Solution Market Overview
Figure 4. Software Segment Held Largest Share of Component Segment in South & Central America Track & Trace Solution Market
Figure 5. Argentina Expected to Show Remarkable Growth During Forecast Period
Figure 6. South & Central America: PEST Analysis
Figure 7. Experts' Opinion
Figure 8. South & Central America Track & Trace Solution Market: Impact Analysis of Drivers and Restraints
Figure 9. South & Central America Track & Trace Solution Market - Revenue Forecast and Analysis - 2021-2028
Figure 10. South & Central America Track & Trace Solution Market Revenue Share, by Component 2022 & 2028 (%)
Figure 11. Hardware: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. Barcode Scanner: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Radio-Frequency Identification (RFID) Readers: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Software: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Plant Manager: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Line Controller: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. South & Central America Track & Trace Solution Market, by Enterprise Size 2022 & 2028 (%)
Figure 20. SMEs: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Large Enterprise: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. South & Central America Track & Trace Solution Market Revenue Share, by Application 2022 & 2028 (%)
Figure 23. Serialization: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Aggregation: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. South & Central America Track & Trace Solution Market Revenue Share, by End User 2022 & 2028 (%)
Figure 26. Pharmaceuticals: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Medical Devices: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Consumer Goods: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Food & Beverages: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 30. Others: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 31. South & Central America Track & Trace Solution Market, by Key Country - Revenue (2022) (US$ Million)
Figure 32. South & Central America Track & Trace Solution Market, by Country, 2022 & 2028 (%)
Figure 33. Brazil: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Argentina: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. Rest of South & Central America: South & Central America Track & Trace Solution Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. Growth Strategies Done by the Companies in the Market, (%)
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