Supply Chain Analytics Market Size, Share, Industry Trends, Business Opportunities, Growth Drivers, Competitive Landscape and Impact of COVID (ICN)
Research Reports
Mar 08, 2022
Overview
The global supply chain analytics market witnesses rapid growth. Sustainability in supply chains offers significant advantages, adapting to support sustainability and protect the planet. With recent covid-led crises, supply chain has garnered much attention due to disturbed consumer goods supplies particularly, personal care products and personal protective equipment.
With the rising demand for maintaining sustainable supply chains, the market is projected to witness a significant revenue rise. According to Market Research Future (MRFR), the global supply chain analytics market would reach exponential heights by 2027, registering a phenomenal CAGR during the forecast period (2020-2027).
Moreover, the spurring rise in the retail market and growing focus on customer satisfaction needs and adoption of technologies are major supply chain analytics market trends. Advances in analytical capabilities and supply chain integration with artificial intelligence provide advantages, such as reduced cost fluctuations and improved sourcing and logistics activities.
Additionally, increasing uptake of IoT platforms that help organizations enhance their business operations increases the supply chain analytics market size. With the growing adoption of supply chain analytics in the rising numbers of BFSI and IT & telecom companies, the market has a positive outlook in the years to come. Similarly, supply chain intelligence and emergency response management technology upgrades foster supply chain analytics market growth.
On the other hand, the connected digital space and the data gathered along with it and data privacy issues associated with public cloud deployments are major factors projected to impede the market growth. Also, monetary constraints among enterprises can restrain market growth.
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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 Market for 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?GR 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.
The deployment- based segments of the market are cloud deployment and on premise deployment. The deployment model segment can gain high stake due to better security and pricing. In case of premise deployment, its high reliability is considered for different solutions. In addition, the better suitability and pricing of cloud model that aid analytics forecast demand for future can support the expansion of the market.
The industry vertical based segments of the market are healthcare, retail, automotive and transportation, manufacturing, aerospace & defense, and others.
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.
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.
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Supply Chain Analytics Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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