Middle East & Africa Track And Trace Solutions Market Size & Outlook
Middle East & Africa track and trace solutions market, 2017-2030 (US$M)
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MEA track and trace solutions market highlights
- The MEA track and trace solutions market generated a revenue of USD 169.1 million in 2022.
- The market is expected to grow at a CAGR of 19.8% from 2023 to 2030.
- In terms of segment, software solutions was the largest revenue generating product in 2022.
- Hardware Systems is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 169.1 million |
| Market revenue in 2030 | USD 715.9 million |
| Growth rate | 19.8% (CAGR from 2022 to 2030) |
| Largest segment | Software solutions |
| Fastest growing segment | Hardware Systems |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware Systems, Software Solutions |
| Key market players worldwide | Axway, Mettler-Toledo International Inc, TraceLink, Adents, Antares Vision SpA, Siemens AG, Korber AG, Dover Corp, Optimum Interactive USA Ltd, ACG World |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.8% of the global track and trace solutions market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,710.8 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Track And Trace Solutions Market Scope
Track And Trace Solutions Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa track and trace solutions market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to track and trace solutions market will help companies and investors design strategic landscapes.
Software solutions was the largest segment with a revenue share of 56% in 2022. Horizon Databook has segmented the Middle East & Africa track and trace solutions market based on hardware systems, software solutions covering the revenue growth of each sub-segment from 2017 to 2030.
The MEA region comprises South Africa and other countries. Increasing number of counterfeit drug and cosmetic products is contributing to the growth of the track and trace solutions market in the MEA. Lack of well-defined regulatory framework pertaining to the implementation of track and trace solutions is limiting the growth of the MEA market.
Counterfeit pharmaceuticals pose huge threat to public health, particularly in Africa, leading to thousands of deaths every year. Poverty, corruption, and lack of legislation add to the threat. However, government initiatives to improve healthcare infrastructure in countries such as South Africa, Saudi Arabia, and the UAE are creating new opportunities for these solutions.
New and advanced technologies are being employed to check these issues. Increasing awareness and growing popularity of track and trace solutions are contributing to market growth in the MEA region.
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Our clientele includes a mix of track and trace solutions market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa track and trace solutions market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa track and trace solutions market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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MEA track and trace solutions market size, by country, 2017-2030 (US$M)
Middle East & Africa Track And Trace Solutions Market Outlook Share, 2022 & 2030 (US$M)
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