Vendors to form alliances and collaborates to develop technologically advanced products.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global packaged food traceability market in their latest research report. This report also lists 10 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from radio frequency identification (RFID), barcodes, and other platforms used in traceability systems for estimating the market size.
This Technavio report, under the packaging vertical, is based on the synthesis, analysis, and interpretation of information about the global packaged food traceability market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The presence of a large number of vendors makes the global packaged food traceability market highly fragmented. Several vendors are partnering with software and hardware suppliers to develop technologically advanced products. This emphasis on R&D is enabling vendors to introduce RFIDs that are cost-effective as well as secure. The increase in competition among vendors has resulted in market consolidation, wherein smaller entities are being acquired by or are being merged with major players. The influx of private labels in the market is also on a rise. Therefore, to survive and succeed, it becomes imperative for vendors to distinguish their respective product and service offerings through clear and unique value propositions
“There is an increased demand for highly advanced RFID devices from companies that require efficient systems in their inventory management. To address this demand, vendors are developing technically advanced RFID semiconductor devices capable of meeting specific needs of end-users. Vendors are integrating technologically advanced RFID devices with Wi-Fi and real-time location technologies to keep track of the products or items to which RFID tags are attached,” says Sharan Raj, a lead analyst at Technavio for research on packaging.
Top five vendors in the packaged food traceability market space
Datalogic
Datalogic has the ability to achieve and maintain a competitive advantage by the continuous and timely development of new products and the enhancement of existing products. It enhances its technological strengths, which will help in increasing market share.
Honeywell International
The company focuses on the continuous expansion of its product portfolio, which has helped it to become one of the major players in the market. It focuses on R&D process and engineering. It also focuses on expanding into broader markets and targets new applications for scanners. The company also plans to reduce costs through innovations in manufacturing. In addition, the company focuses on expanding its global reach and attracting customers worldwide. Honeywell entered the market after it acquired Intermec in 2013. It strategies to achieve growth by continuously innovating and expanding its product portfolio, thereby capturing the market share.
Impinj
Impinj is an American RFID technology manufacturer. In 2006, it was the first company to introduce products based on EPC global UHF gen 2 standard. In 2008, Impinj acquired Intel’s RFID division, including Intel’s RFID developed chips. The company focuses on exploring new opportunities to leverage existing manufacturing processes and enable next-generation technologies. It offers superior customer service and systems with low defect rates, enhanced yields, faster processing times, and reduced costs.
Zebra Technologies
Zebra Technologies is an American company, with offices in 26 countries and channel partners in more than 100 countries. Its portfolio includes cloud device management, wireless LAN, RFID, card printing barcode printing, data capture, mobile computing, and location and motion sensing. In 2014, it acquired Motorola Solutions. Zebra Technologies has five regional innovation centers, with more than 4,200 US and international patents issued and pending relationships.
Cognex
The company’s products comprise machine vision sensors, barcode readers, and machine vision systems. Cognex follows a growth strategy that emphasizes on cost optimization. It also plans to leverage its technological strengths, which will help in increasing the market share. It focuses on optimizing costs, increasing customer base.
Other prominent vendors in this market include Alien Technology, Avery Dennison, Bar Code Integrators, Carlisle Technology, Merit-Trax Technologies, SATO VICINITY, SMARTRAC, Thinfilm, Tyco, and Denso.
A more detailed analysis is available in the Technavio report, Global Packaged Food Traceability Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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