Supply Chain Analytics Market Forecasts to 2028 – Global Analysis By Service (Support and Maintenance Professional Services, Integration Service, Consulting Service), Deployment Model (On-Demand/Cloud-Based Deployment, On-Premise Deployment), Solution (Visualization And Reporting Tools, Transportation And Logistics Analytics), Enterprise Size (Small & Medium Enterprises, Large Enterprise), End User (Aerospace And Defence, Automotive and others) and By GeographyAccording to Stratistics MRC, the Supply Chain Analytics Market is accounted for $7.80 billion in 2022 and is expected to reach $23.19 billion by 2028 growing at a CAGR of 19.9% during the forecast period. Supply chain analytics is a right place to use analytic tools to look for a superior business position, because of its complexity and also it plays major role in a company’s cost structure and profitability. Supply chain analytics goal is to improve forecasting and efficiency and be additional approachable to client needs. It is the function of statistics, mathematics sensor data, analytical modelling and machine learning techniques to find significant information and patterns in order, Transactional Shipment. It is used in decision making processes across organization verticals includes strategic alliances, technology, ERM and organizational infrastructure.
Market Dynamics:
Driver:
Increasing volume and velocity of data
The global supply chain analytics market expected to drive growth during the forecast period, due to growing data, together with the constant requirement for a unified cost-saving solution, is likely to uplift the demand for advanced analytics solutions across industry verticals. Big data has evolved as a key element in building business growth strategies. Moreover, a few of the primary concerns of companies are cost-cutting and resource-saving, which can be achieved through appropriate optimization of their supply chain. These insights further offer better visibility into supply chain performance, enabling companies to control the flow of their resources and target their improvement initiatives.
Restraint:
Growing concerns for data security
The global supply chain analytics market expected to hinder growth during the forecast period, due to the enterprises adopting supply chain analytics solutions face security and privacy issues. Enterprises hold confidential data, which needs to be protected to avoid data breaches and theft, as it may influence the reputation of enterprises. The enterprises data may leak over the internet and can be accessed by unauthorized users, which is the growing concern. For example, the Transportation Management System (TMS) needs multitenant architecture, in which a single version of the software runs on a server that is shared by multiple customers.
Opportunity:
Increasing adoption of cloud-based supply chain analytics
The global supply chain analytics market expected to drive growth during the forecast period, due to increasing difficulty and demand for real-time data processing across the supply chain network, enterprises are gravitating toward cloud based supply chain management solutions. The usage of cloud based advanced analytics primarily aids in the monitoring and reporting of overall supply chain activities all over the forward and backward supply chain ecosystems. Moreover, cloud advantages such as pricing, flexibility, simplicity of use and connectivity, scheduling, and scalability are attracting a wide range of supply chain management technology vendors.
Threat:
Lack of skilled personnel
The global supply chain analytics market expected to hamper growth during the forecast period, due to lack of qualified personnel in the supply chain sector is the major issue the organization faces. With data intake through performance data, certain abilities are needed by data analyst teams in order to analyze and discover the trends that will help advertisers in making the best choices for their businesses. The increase of big data across industry verticals has led to the generation of the huge amount of data, which needs to be correctly modeled, integrated, wrangled, and then analyzed to gain specific insights. To overcome this challenge, numerous enterprises are collaborating with academic institutions to offer different courses in big data and business analytics to ensure that a strong and skilled workforce is available to extract insights from big data and business analytics.
Covid-19 Impact:
The emergence of COVID-19 is expected to have a significant impact on the growth supply chain analytics market. Hence, use of supply chain analytics across different industries to identify issues across the whole supply chain and helping to plan & adapt changing dynamics is estimated to propel the market growth. Additionally, with the emergence COVID-19, the use of supply chain analytics will allow companies to analyze business continuity scenarios post COVID-19.
The manufacturing is expected to be the largest during the forecast period
The manufacturing segment is expected to have a lucrative growth during the forecast period, due to product availability have been influence manufacturing companies to meet the increasing demand while maintaining the same marginal levels.
The cloud deployment segment is expected to have the highest CAGR during the forecast period
The cloud deployment segment is anticipated to witness the fastest CAGR growth during the forecast period. Cloud deployment solutions are gaining a firm hold in the market due to different benefits, such as cost control, resource pooling, and less implementation time. Cloud deployment offers flexibility, scalability, and cost-effectiveness benefits. It also enables an enterprise to have more control over the server, infrastructure, and systems that can be configured as per the business necessities.
Region with highest share:
The Asia Pacific region market is estimated to witness a highest share of the global supply chain analytics market during the forecast period, due to rising awareness of the benefits of analytics solutions among businesses. Additionally, the constantly increasing number of small and medium-sized businesses (SMBs) and their increasing expenditure on the deployment of cutting-edge technology to expand their enterprises may add to the growth of the regional market for supply chain analytics.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, due to the difficulty of corporate processes, industrial organizations in North America are putting a greater focus on the visual display of operational data. This allows businesses to quickly consider the current health of their supply chain from a data standpoint, allowing for better strategic decision-making.
Key players in the market
Some of the key players in Supply Chain Analytics market include Birst, INC., Capgemini S.A., Genpact, IBM Corporation, Kinaxis INC., Microstrategy, Oracle Corporation , SAP SE, SAS Institute, INC., Tableau, Wipro, Northrop Grumman, Theodore Wille Intergrade, United Technologies and Accenture.
Key Developments:
In April 2020, SAP SE announced additional offerings and access to the company’s technologies to help enterprises confront and navigate the COVID-19 pandemic. The offerings are available free of cost and include Qualtrics Supply Continuity Pulse solution and Planning as a Service with the SAP Integrated Business Planning for Supply Chain solution.
In September 2020, Oracle Corporation launched the latest iteration of its Oracle Fusion Cloud Supply Chain & Manufacturing solution in the market. The company added logistics digital assistance, AI-powered planning advisor, product procurement, and revenue management capabilities. This launch helped the company to address the demand from enterprises to resolve complexities that arose due to the COVID-19 crisis.
In October 2019, IBM Corporation launched an integrated supply chain suite powered by IBM Blockchain and Watson AI. The launched suite incorporates features from sterling order management and B2B networks solution. This launch helped the company to serve the global supplier ecosystem with advanced supply chain analytics solutions.
Services Covered:
• Support and Maintenance Services
• Professional Services
• Integration Service
• Consulting Service
Deployment Models Covered:
• On-Demand/Cloud-Based Deployment
• On-Premise Deployment
Solutions Covered:
• Visualization And Reporting Tools
• Transportation And Logistics Analytics
• Supply Chain Planning And Procurement
• Sales And Operations Planning (S&Op)
• Manufacturing Analytics
Enterprise Sizes Covered:
• Small & Medium Enterprises
• Large Enterprise
End Users Covered:
• Aerospace And Defence
• Automotive
• Healthcare And Life Sciences
• High Tech And Electronics
• Manufacturing
• Retail And Consumer Packaged Goods (CPG)
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
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