The global track and trace solutions market size is projected to surpass over US$ 8.1 billion by end of 2027 with a CAGR of 17.98% over forecast period 2020 to 2027.
OTTAWA, Nov. 02, 2020 (GLOBE NEWSWIRE) — The global track and trace solutions market size was valued at US$ 2.09 billion in 2019, according to new study by Precedence Research.
Track and trace technologies allow a product’s status to be taken through the value chain, and to retrospectively recognize and confirm its path. Track and trace solutions are related to logistics and distribution of wide range of products, that enables to discover the present and prior position of the object of interest. The foremost technologies utilized to track the delivery of the products include barcodes and radio-frequency identification. Lately, there is an upsurge in the product recall that caused the development of hardware, software, and consulting systems by the