Compliance and Traceability Solutions Market By Component (Software, Services), By Deployment Mode (On-Premise, Cloud), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises), By Industry Vertical (IT and Telecom, BFSI, Healthcare, Food and Agriculture, Government, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Compliance and traceability solutions are one of the rising technologies that can make the value chain digitalized through setting an entirely networked business environment. These solutions intend to detect and track items along the value chain by the use of data transfer. Currently, Radio Frequency Identification (RFID) and Near Field Communication (NFC) are two integral communication technologies used for transferring data. This integration makes them capable of real-time pinpoint location and identification of items in production and warehouse areas. As a result, it can reduce operating costs, optimize efficiency of current assets of a company, and boost sales and business efficiency. In addition, suppliers are often integrating advanced tracking systems to reap the benefits of traceability for consumers, government authorities, and private companies. Thus, it has potential impact on track and traces along the entire or part of the value chain.
Surge in need for real-time traceability and compliance audits boost growth of supply chain management systems and provide new avenues for the compliance and traceability solution market. Moreover, favorable regulations and standards for serialization implementation, coupled with growth in the number of packaging-related product recalls fuel the market growth. However, high costs and longer implementation timeframe associated with serialization, as well as concerns over data privacy in traceability requirements are some of the factors that hinder the market growth. Moreover, rise in adoption of advanced technologies and digital solutions in the logistics sector is expected to create lucrative growth opportunities for the market during the forecast period.
The compliance and traceability solution market is segmented on the basis of component, deployment mode, organization size, industry vertical, and region. By component, it is categorized into software and services. By deployment mode, it is categorized into on-premise and cloud. By organization size, it is bifurcated into large enterprises and small and medium-sized enterprises. By industry vertical, it is segmented into IT & telecom, BFSI, healthcare, food and agriculture, government, manufacturing, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes a comprehensive analysis of the key players operating in the compliance and traceability solution market, such as 4CRisk.ai, Agrilyze, Mettler-Toledo, Omron Corporation, Optel Group, SAP SE, Systech International, Tata Consultancy Services, TraceLink, Inc., and Tuleap.
Key Benefits for Stakeholders
The study provides in-depth analysis of the compliance and traceability solution market along with the current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, & opportunities and their impact analysis on the compliance and traceability solution market size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the compliance and traceability solution market from 2021 to 2031 is provided to determine the market potential.
Key Market Segments
By Component
Software
Services
By Deployment Mode
On-Premise
Cloud
By Organization Size
Large Enterprises
Small and Medium-sized Enterprises
By Industry Vertical
IT and Telecom
BFSI
Healthcare
Food and Agriculture
Government
Manufacturing
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest Of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
4CRisk.ai
Agrilyze
Mettler-Toledo
Omron Corporation
Optel Group
SAP SE
Systech International
Tata Consultancy Services
TraceLink, Inc.
Tuleap
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