South & Central America Track and Trace Solutions Market

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 Strategic Insights

Strategic insights for the South & Central America Track and Trace Solutions provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Track and Trace Solutions Report Scope

South & Central America Track and Trace Solutions Regional Insights

The geographic scope of the South & Central America Track and Trace Solutions refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.