Supply Chain Analytics Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2022 - 2030

Supply Chain Analytics Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2022 - 2030

Supply Chain Analytics Market Growth & Trends

The global supply chain analytics market size is expected to reach USD 22.46 billion by 2030, registering a CAGR of 17.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. Supply chain analytics is becoming popular as the demand for managing vast volumes of company data and its insights for strategic applications grows. As the demand for automation technologies and investment from technology developers grows, so does the demand for cognitive computing and Artificial Intelligence (AI). The growing awareness among businesses about the advantages of Supply Chain Analytics (SCA) in terms of improved visibility across the whole supply chain is fueling the demand for analytics solutions.

The increased availability of cloud-based SCA solutions has triggered their demand among small & medium enterprises owing to benefits such as easy deployment, shorter implementation window, effective use of IT resources, and flexibility & mobility offered by these solutions. Another notable trend in the market is the increased demand for risk analytics solutions across all industries. Risk analytics solutions address multiple issues associated with the supply chain by analyzing scenario and sensitivity, stochastic optimization, and risk mitigation.

SCA solutions enable enterprises to achieve growth, enhance profitability, and increase market share by utilizing the derived insights in making strategic decisions. Improved visibility across the supply chain can help organizations enhance sustainability, reduce inventory cost, and accelerate the time-to-market for products in the long run. Factors such as shortening product life cycles, low visibility in traditional supply chains, ineffective supplier networks, elevated warehousing costs, redundant forecasts, and fluctuating customer demands necessitate supply chain optimization, thereby driving the growth of the market.

The outbreak of the COVID-19 pandemic is expected to have an adverse short-term impact on the market. The pandemic has compelled several manufacturing companies to temporarily halt manufacturing operations to comply with the new government regulations. Revenue streams have been directly affected due to the pandemic, as supply chain and trade disruptions have adversely affected the overall operations. However, for supply chain management technology vendors, the crisis is expected to provide a significant opportunity to increase their revenue shares, by offering advanced technology-based supply chain solutions. Customer enterprises across the globe need to identify how supply chain analytics solutions can better prepare them for demand fluctuations, challenging conditions, and macroeconomic instability post the crisis.

Improved effectiveness of business outcomes and cost-effectiveness of supply chain management resulting from the adoption of supply chain analytics is also expected to encourage the adoption of supply chain analytics solutions in several end-use applications. The demand is expected to remain robust in retail and consumer products, healthcare, and manufacturing industries. Furthermore, the capacity of the market to offer effective and efficient administration of end-to-end business processes is likely to drive its expansion over the forecast period.

Supply Chain Analytics Market Report Highlights

• In terms of solution, the sales & operations analytics segment is anticipated to register considerable growth over the forecast period, attributed growing use of machine learning in SCA solutions is an emerging trend. It is used to dissect and aggregate data and produce predictive, descriptive, and prescriptive insights. These insights enable supply chain managers to make better decisions
• In terms of service, the professional segment dominated the market in 2021 and is expected to retain its dominance over the forecast period. The growth is projected to be driven by the increasing automation of professional services as a result of the adoption of big data and analytics, as well as the growing desire for improved mobility among service consultants
• In terms of deployment, the cloud segment is anticipated to register the highest CAGR from 2022 to 2030. Cloud-based solutions enable businesses to access data from linked devices at any time, allowing for further customization and the use of analytical tools across numerous business channels
• In terms of enterprise size, the large enterprise segment is anticipated to register promising growth over the forecast period. This growth can be attributed to the need to manage a large amount of data required in local offices as well as overseas
• In terms of end use, the high technology product segment is expected to register a promising growth rate from 2022 to 2030. This growth can be attributed to the increasing demand for high technology products that are complex to move and demand better visibility & tracking
• In terms of region, North America dominated the market in 2021. Due to the sheer huge number of SCA service providers in the region, the regional market is likely to maintain its dominance over the forecast period