Supply Chain Analytics Market: Global Industry Analysis and Forecast (2023-2029)

Supply Chain Analytics Market size was valued at US$ 6.21 Bn. in 2022 and the total Supply Chain Analytics revenue is expected to grow at 18.7% from 2023 to 2029, reaching nearly US$ 20.65 Bn.
Supply Chain Analytics Market Overview:
Analytics is the capacity to make data-driven choices based on a breakdown of relevant, reliable data, which is frequently shown via graphs, charts, and other ways. Massive volumes of data are frequently generated by supply systems. Supply chain analytics aids in making sense of all this data by revealing trends and producing insights. Supply chain analytics is also the framework for bringing cognitive computing to the supply chain process, e.g. artificial intelligence (AI). Cognitive technologies comprehend, reason, learn, and interact in the same way as humans do, but with far greater capacity and speed. This sophisticated kind of supply chain analytics heralds the dawn of a new age in supply chain management.It can sift through enormous volumes of data automatically to assist a business in improving forecasts, identifying inefficiencies, responding better to client requirements, driving innovation, and pursuing breakthrough ideas.

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The report explores the Supply Chain Analytics market's segments (Solution, Service, Deployment, End-Use, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Supply Chain Analytics market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Supply Chain Analytics market's contemporary competitive scenario.
Supply Chain Analytics Market Dynamics:
Growing data volume is the primary driver of market growth.

Increasing data volumes, along with the ongoing need for a unified cost-cutting solution, are anticipated to drive the adoption of smart analytics solutions across industrial verticals. Big data has emerged as a critical component in developing corporate growth plans. Furthermore, one of the key concerns of businesses is cost-cutting and resource-saving, which may be accomplished through effective supply chain improvement. As a result, the utilization of data improves the analytical capacity of such an analytical model and offers businesses useful insights into the core causes of productivity loss and agility. These data sources also provide greater transparency into supply chain management, allowing businesses to govern the flow of resources and focus on improvement activities.

A major restraint in the market growth is that enterprises are becoming increasingly concerned about data security.

Companies that implement supply chain analytics systems confront security and privacy challenges. Businesses have confidential information that must be safeguarded to avoid security breaches and fraud, which can harm a company's current reputation. Data from businesses may leak across the internet and be viewed by unauthorized individuals, which is an increasing worry. The Transportation Management System, for example, requires a multi-tenancy design, in which a single version of the program operates on a server hosted by numerous clients. Members of an organization may be able to examine the data of rivals in this case. These security concerns about unauthorized data access would jeopardizeorganizational data protection and competitive industry position. As a result, security and privacy concerns among companies increase rapidly, limiting the growth of the supply chain analytics market throughout the forecast period.

A key opportunity in the market is that cloud-based supply chain analytics are becoming more popular.

With the rising complexity 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 principally aids in the monitoring and reporting of overall supply chain activities throughout the forward and backward supply chain ecosystems. Furthermore, 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.

International logistics systems necessitate substantial installations or transportation adjustments, incurring an additional cost for firms and increasing investment expenditures. Because of the increased complexity and expense, businesses are adopting end-to-end supply chain transparency, such as a cloud-based distribution system for logistics operations. Cloud-based logistics and transportation distribution network analytics systems allow businesses to connect, interact, and cooperate with consumers, business associates, and suppliers. It also assists businesses in developing a secure, dependable, and comprehensive freight forwarding system that provides real-time information to customers.
Supply Chain Analytics Market Segment Analysis:
By Service, the professional segment is expected to grow at a CAGR of 6.4% during the forecast period.To minimize data misappropriation, skilled professionals must verify that the new platforms are compatible with current systems of various agencies and that the new features are integrated with the old ones, therefore promoting segment growth. The demand has increased for professional services e.g. data analysis and archiving, as well as expert advice on developing technologies. However, data scientist teams require specialized talents to detect and uncover patterns that assist marketers in making better judgments; as a result, the supply chain industry lacks experienced or professional services and personnel.

The support & maintenance segment is anticipated to grow rapidly during the forecast period. Third-party assistance can help businesses save money while also delivering the knowledge of highly qualified and experienced people. Acknowledging the software's fundamentals, repairing and maintaining the system during malfunctions, seamlessly importing or exporting data, and regularly upgrading the software are all challenges to contemplate while deploying supply chain analytics tools. Failure to pay attention to these components may lead to a drop in output. As a result, the demand for support and maintenance services is anticipated to rise throughout the forecast period.



By Deployment, the cloud segment is expected to grow at a CAGR of 4.8% during the forecast period. Technological advancement has resulted in the widespread deployment of IoT devices, increasing OEM clients' reliance on cloud-based systems. Cloud infrastructure provides enterprises with greater flexibility and enables large-scale customization of goods and services. Because of the advantages in data security and risk analysis, the sector is increasingly turning to big data analytics technologies. Because of increased mobility and the convenience of use of cloud services, supply chain analytics systems are being aggressively deployed on cloud-based platforms.

Organizations located in the Middle East and Africa and the Asia Pacific (mainly emerging nations) are anticipated to adopt cloud-based solutions. Due to a lack of in-house IT experience, many businesses will opt for cloud-based implementation. Because of features like quick deployment, a shorter implementation timeframe, optimal use of IT capabilities, and the versatility and mobility provided by these solutions, the rising availability of cloud-based Software Composition Analysis alternatives has driven their demand among small and medium-sized businesses.
Regional Insights:
North America dominated the global supply chain analytics market with a share of over 40% in 2022. Because of the complexity of business operations, North American industrial organizations are putting a higher emphasis on the visual aspect of performance information. This enables firms to swiftly examine the existing data integrity of their supply chain, leading to improved strategic decision-making. The European regional market is estimated to grow rapidly throughout the forecast period. The European Commission's Single Market Strategy permits goods, services, individuals, and money to move freely within the European Union. It widens the regional market scope for European enterprises and promotes the implementation and execution of supply chain analytics solutions.

The APAC market is also expected to witness rapid growth during the forecast period. The growth might be attributed to a rising corporate knowledge about the advantages of analytics solutions. Additionally, the ever-growing small and medium-sized businesses and their greater expenditure on the installation of cutting-edge technology to develop their operations may contribute to the APAC supply chain analytics market growth.

The objective of the report is to present a comprehensive analysis of theSupply Chain Analytics market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding theSupply Chain Analytics market dynamics, and structure by analyzing the market segments and projecting theSupply Chain Analytics market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Supply Chain Analytics market make the report investor’s guide.
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Supply Chain Analytics Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 6.21 Bn.


Forecast Period 2023 to 2029 CAGR:
18.7 %
Market Size in 2029:
US $ 20.65 Bn.


 Segments Covered:
by Solution
Logistics Analytics
Manufacturing Analytics
Planning & Procurement
Sales & Operations Analytics
Visualization & Reporting


by Service
Professional
Support & Maintenance


by Deployment
Cloud
On-premise


by End-User
Retail & Consumer Goods
Healthcare
Manufacturing
Transportation
Aerospace & Defense
High Technology Products
Others



Supply Chain Analytics Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players
1. SAP
2. Oracle
3. IBM
4. SAS Institute
5. Software AG
6. MicroStrategy
7. Tableau
8. Qlik
9. TIBCO
10. Cloudera
11. Logility
12. Savi Technology
13. Infor
14. RELEX Solutions
15. TARGIT
16. Voxware
17. The AnyLogic Company
18. Antuit
19. Axway
20. AIMMS
21. BRIDGEi2i
22. Domo
23. Datameer
24. 1010data
25. Rosslyn Analytics
26. Blue Yonder
27. Manhattan Associates
28. DataFactZ

FAQs:

1. Which is the potential market forSupply Chain Analytics in terms of the region?
Ans.APAC is the potential market for Supply Chain Analytics in terms of the region.

2. What are the opportunities for new market entrants?
Ans.A key opportunity in the market is that cloud-based supply chain analytics are becoming more popular.

3. What is expected to drive the growth of the Supply Chain Analytics market in the forecast period?
Ans.Growing data volume is the primary driver of market growth.

4. What is the projected market size & growth rate of the Supply Chain Analytics Market?
Ans.Supply Chain Analytics Market size was valued at US$ 6.21 Bn. in 2022 and the total Supply Chain Analytics revenue is expected to grow at 18.7% from 2023 to 2029, reaching nearly US$ 20.65 Bn.

5. What segments are covered in the Supply Chain Analytics Market report?
Ans. The segments covered are Solution, Service, Deployment, End-Use, and Region.