Supply Chain Security Market by Component (Hardware, Software, Services), Security Type (Data Locality & Protection, Data Visibility & Governance), Organization Size, Application (Healthcare & Pharmaceuticals, FMCG) and Region - Global Forecast to 2027

Supply Chain Security Market by Component (Hardware, Software, Services), Security Type (Data Locality & Protection, Data Visibility & Governance), Organization Size, Application (Healthcare & Pharmaceuticals, FMCG) and Region - Global Forecast to 2027

MarketsandMarkets forecasts that the global supply chain security market will grow from an estimated USD 2.0 billion in 2022 to USD 3.5 billion by 2027 at a compound annual growth rate (CAGR) of 11.0%. One of the factors driving the market growth is the increasing need for supply chain transparency.

By components, services segment to grow at highest CAGR during forecast period

Supply chain security is an important supply chain management (SCM) segment. It primarily manages the risks of transportation, logistics, vendors, and suppliers. Professional security analysts ensure support with incident response and remote client assistance during suspicious activities. Professional services such as support and maintenance, training, and education are a part of this segment. With the increased adoption of supply chain security, there is an increased demand for these services, further boosting the market growth. The services segment includes numerous services required to deploy, execute, and maintain supply chain security solutions in organizations. This supply chain security market segment is classified into training and consultation, integration and deployment, and support and maintenance.

By services, integration and deployment services to grow at highest CAGR during forecast period

Tailored supply chain security deployment and integration services are offered by integration and deployment service providers. These services are used by highly qualified industry experts, domain experts, and security professionals that assist organizations in formulating and implementing supply chain security strategies, preventing revenue losses, minimizing risks, understanding cybersecurity solutions, and enhancing security in the existing information system.

In system integration, the vendor’s security services are integrated with the client’s security system without hampering the existing client’s system. Benefits, such as reduced risks and complexity, are offered by design and integration services. This enhances security and enables resiliency to cyberattacks by identifying vulnerable or potentially exploited components at all supply chain stages.

Breakdown of primary participants:

By Company Type: Tier 1 = 40%, Tier 2 = 30%, and Tier 3 = 30%

By Designation: C-Level Executives = 40%, Directors = 40%, and Others = 20%

By Region: North America = 40%, Asia Pacific = 30%, Europe = 20%, Rest of the World = 10%

Major vendors in the global supply chain security market include IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (the Netherlands), Testo (Germany), ORBCOMM (US), Sensitech (US), ELPRO (Switzerland), Rotronic (Switzerland), Monnit (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Dickson (US), Signatrol (UK), Hanwell Solutions (UK), Controlant (Iceland), Roambee (US), Omega Compliance (Hong Kong), Tagbox Solutions (India), C2A Security (Israel), SafeTraces (US), Tive (US), Altana (US), FourKites (US).

The study includes an in-depth competitive analysis of the key players in the supply chain security market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report segments the supply chain security by component (hardware, software, and services), security type, organization size, application, and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).

The study also includes an in-depth competitive analysis of the key market players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report:

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall supply chain security market and the subsegments. It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.