Saudi Arabia Track And Trace Solutions Market Size & Outlook
Saudi Arabia track and trace solutions market, 2017-2030 (US$M)
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Saudi Arabia track and trace solutions market highlights
- The Saudi Arabia track and trace solutions market generated a revenue of USD 32.3 million in 2022 and is expected to reach USD 144.0 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 20.6% 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.
Track and trace solutions market data book summary
| Market revenue in 2022 | USD 32.3 million |
| Market revenue in 2030 | USD 144.0 million |
| Growth rate | 20.6% (CAGR from 2022 to 2030) |
| Largest segment | Software solutions |
| Fastest growing segment | Hardware Systems |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Saudi Arabia accounted for 0.9% of the global track and trace solutions market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa track and trace solutions market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 144.0 million by 2030.
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Track And Trace Solutions Market Scope
Track And Trace Solutions Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 57.28% in 2022. Horizon Databook has segmented the Saudi Arabia track and trace solutions market based on hardware systems, software solutions covering the revenue growth of each sub-segment from 2017 to 2030.
Saudi Arabia track & trace market is expected to exhibit significant growth over the forecast period, as it is a part of the kingdom’s Vision 2030 plan. The Saudi Food & Drug Authority (SFDA) had already initiated drug track and tracing system as part of National Transformation Program 2020.
It will help track the origin of all drugs manufactured in Saudi Arabia or imported. The main objective of this initiative is to prevent counterfeiting of drugs to achieve drug safety. The SFDA also announced that sterilized products manufactured in Saudi Arabia must be aggregated by October 2019.
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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 country-level data and insights on the Saudi Arabia track and trace solutions market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia track and trace solutions market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia track and trace solutions market size, by product, 2017-2030 (US$M)
Saudi Arabia Track And Trace Solutions Market Outlook Share, 2022 & 2030 (US$M)
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