Track-and-trace market set for strong growth

The worldwide market for track-and-trace solutions will grow at 18 per cent a year to reach a value of $7.2bn by 2026, says a new market research report.

The report by Acumen Research attributes the growth to the ongoing rollout of legislation mandating track-and-trace for medicines and medical devices, in order to fight the trade in counterfeits, with uptake also expected to be strong in the food and drink, consumer product, and luxury product sectors.

“The food and beverage, pharmaceutical, and medical devices sectors are the two most significant sectors requiring continuous application of these mandates,” says Acumen.

“A variety of end-to-end alternatives are expected…such as traceability of products, final products traceability, blockchain enabler, serialization processing, conformity management, traceability of food and beverages, and environmental tracking.”