Machine vision systems for track and trace applications have proven to be a profitable solution as manufacturers of all kinds scale their operations. Historically, track and trace without machine vision has been a nightmare. Tracing products through complex global supply chains is incredibly difficult, as is tracking products through individual processes within a facility.
Vision systems are highly valuable when it comes to tracing products through complicated supply chains, essentially automating the process of gaining visibility into production, as well as the production of suppliers and customers.
The Growth of Vision-Based Track and Trace Solutions
According to research from Markets and Markets, the track and trace solutions market is projected to reach a value of $3.93 billion by 2023, growing at a compound annual growth rate (CAGR) of 18.9%. This growth represents abundant opportunities for innovative machine vision OEMs to gain a foothold in a rapidly growing industry.
Much of this growth is driven by regulatory pressure and accountability, particularly in the food and beverage industry and pharmaceutical industry, to protect public health and rectify product recalls. Other industry-led initiatives, such as The Produce Traceability Initiative, are driving further adoption of vision-based track and trace solutions by bringing together interested parties and promoting greater supply chain visibility.
Industries Relying on Vision-Based Track and Trace Solutions
As mentioned above, the food and beverage industry relies heavily on machine vision for track and trace solutions. Food and beverage processors need extensive traceability to determine the point of origin for all products and ingredients so that quality issues can be quickly addressed and fixed.
The medical device industry is also increasingly reliant on machine vision track and trace. Growing occurrences of instrument misplacement and hospital-acquired infections are spurring adoption of robots track and trace technologies to ensure patient safety and wellbeing.
Machine vision track and trace technology offers the most comprehensive way to identify products and ingredients as they move through complex global supply chains. Because of these capabilities, a number of different industries are beginning to adopt machine vision as their go-to solution for track and trace.
As the track and trace solutions industry experiences rapid growth, machine vision technology will likely be at the forefront of this growth, contributing to greater supply chain visibility and product innovation.
To learn more on this topic, take a deeper dive with our featured article, “Vision-Based Track and Trace Delivers Profits, Product Integrity.”