Global Market for Supply Chain Analytics is Estimated to Reach USD 8,890.4 Million by 2023
Research Reports
Jan 06, 2021
Market Synopsis
The availability of various supply chain analytics software with multiple features can boost the supply chain analytics market 2020. Market Research future (MRFR), in its latest “Global Supply Chain Analytics Market” states different factors that can impact the growth of the market. The world supply chain analytics market can surge at 13.7% CAGR across the forecast period (2017 to 2023). By 2023, the supply chain analytics market can value at USD 8,890.4 Mn. The increase in the generation of data by enterprises can increase consumer awareness and thus, benefit the supply chain analytics market. Several industrialists and experts’ state that the integration of artificial intelligence in supply chain analytics solutions could result in an effective growth strategy that can predict all possible outcomes, thus offer a robust action plan to hand inventory. The integration can add a competitive advantage to numerous supply chain analytics dealers. However, increase in cases of data breach in both privacy and public cloud deployments and its monetary constraints can restraint the market growth.
Market Segment
The supply chain analytics world market study is based on service, industry vertical, deployment, solution, and service.
The service based segments of the market are support, integration and deployment, maintenance, and consulting. The solution-based segments of the market are sales and operations planning, supply chain planning and procurement, transportation and logistics analytics, manufacturing analytics, and visualization and reporting tools. The sales and operation planning segment can lead the market. It is anticipated to continue be at the forefront across the forecast period.
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Regional Analysis
The supply chain analytics market in North America is expected to secure the largest share of the global market. The high presence of reputed players, such as IBM Corporation, Oracle Corporation, and SAS Institute can explain the rise of the supply chain analytics market in the region. In North America, the US accounted for the highest share of the regional market. It is due to the presence of advanced supply chain analytics solutions. Europe can secure the second-largest share of the world market. The high adoption mobile-based services can bolster the supply chain analytics market in EU. In Asia Pacific, the supply chain analytics market is likely to register high CAGR of about 16.4% in the review period. The adoption of latest technologies that enable easy access to distributed transport network can prompt APAC market growth. In the Middle East and Africa, the supply chain analytics market can achieve a considerable market growth due to the rise in crucial players focusing on investing in supply chain analytics solutions diversification.
Key players
MRFR profiled reputed supply chain analytics market players. They are; MicroStrategy, Inc., IBM Corporation, Tableau Software, Inc., Oracle Corporation, Accenture PLC, SAP SE, SAS Institute Inc., Genpact, JDA Software Group, Inc, and Manhattan Associates Inc. The key players are innovating and investing in R&D undertakings to avail affordable product portfolio. Recently, mergers and acquisitions among these major players were reported that will aid in the expansion of the market. The strategies adopted by these organizations are elaborate in the report.
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