South & Central America Track and Trace Solutions Market Forecast to 2030 - Regional Analysis - by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and End Users (Pharmaceutical,

South & Central America Track and Trace Solutions Market Forecast to 2030 - Regional Analysis - by Component (Hardware and Software), Enterprise Size (SMEs and Large Enterprise), Application (Serialization and Aggregation), and End Users (Pharmaceutical, Medical Devices, Consumer Goods, Food & Beverages, and Others)

The South & Central America track and trace solutions market was valued at US$ 398.24 million in 2022 and is expected to reach US$ 1,255.71 million by 2030; it is estimated to register a CAGR of 15.4% from 2022 to 2030.

Supply Chain Optimization Fuels South & Central America Track and Trace Solutions Market

The companies have an opportunity to optimize supply chain operations through track and trace solutions. These solutions offer real-time visibility into the movement of goods across the supply chain, enabling companies to identify inefficiencies, streamline processes, and enhance overall performance. By leveraging track and trace technologies, businesses can proactively monitor inventory levels, identify bottlenecks, and improve resource allocation. This optimization leads to shorter lead times, reduced costs, and enhanced reliability in meeting customer demands. Additionally, track and trace solutions enable companies to implement proactive maintenance strategies, ensuring the quality and safety of products throughout their lifecycle. This can further help in improving patient outcomes, complying with regulatory requirements, and maintaining a competitive edge in the market.

South & Central America Track and Trace Solutions Market Overview

The South & Central America track & trace solution market is segmented into Brazil, Argentina, and the Rest of 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. There are over many steps in supply chain that must be tracked and reported. Moreover, pharmaceutical companies need to report the movement of all drug products into Brazil to the Brazilian Government’s health surveillance organization—ANVISA (Agência Nacional de Vigilância Sanitária). 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 the tracking and tracing of 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.

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 and Trace Solutions Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Track and Trace Solutions Market Segmentation

The South & Central America track and trace solutions market is categorized into component, enterprise size, application, end users, and country.

Based on component, the South & Central America track and trace solutions market is bifurcated into hardware and software. The software segment held a larger South & Central America track and trace solutions market share in 2022. Furthermore, the software segment is subcategorized into plant manager, line controller, and others. Additionally, the hardware segment is subsegmented into barcode scanner, radiofrequency identification (RFID) reader, and others.

In terms of enterprise size, the South & Central America track and trace solutions market is segmented into SMEs and large enterprise. The large enterprise segment held a larger South & Central America track and trace solutions market share in 2022.

By application, the South & Central America track and trace solutions market is divided into serialization solutions and aggregation solutions. The serialization solutions segment held a larger South & Central America track and trace solutions market share in 2022.

In terms of end users, the South & Central America track and trace solutions market is categorized into pharmaceutical, medical devices, consumer goods, food & beverages, and others. The pharmaceutical segment held the largest South & Central America track and trace solutions market share in 2022.

Based on country, the South & Central America track and trace solutions market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America track and trace solutions market share in 2022.

SAP SE, Uhlmann Pac-Systeme GmbH & Co KG, WIPOTEC GmbH, Korber AG, Videojet Technologies Inc, Domino Printing Sciences plc, and rfxcel Corp are some of the leading companies operating in the South & Central America track and trace solutions market.

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