PUBLISHER: SkyQuest | PRODUCT CODE: 1270728
PUBLISHER: SkyQuest | PRODUCT CODE: 1270728
Global Supply Chain Analytics Market size was valued at USD 5.18 billion in 2021 and is poised to grow from USD 6.12 billion in 2022 to USD 22.46 billion by 2030, growing at a CAGR of 17.8% in the forecast period (2023-2030).
The global supply chain analytics market is a rapidly growing industry that involves the use of advanced analytical tools and techniques to gain insights into various aspects of the supply chain, such as inventory management, logistics, and transportation. The market is being driven by the increasing need for real-time visibility and transparency across the supply chain to optimize operational efficiency and reduce costs. Key players in the market are leveraging advanced technologies such as artificial intelligence and machine learning to enhance their offerings and gain a competitive edge.
Top-down and bottom-up approaches were used to estimate and validate the size of Supply Chain Analytics market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report
The global supply chain analytics market is segmented based on software into supplier performance analytics, demand analysis and forecasting, and inventory analytics. By services, the market is segmented into professional, support & maintenance. By deployment model, the market is categorized into cloud, on-premises. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
With the increase in data volumes and the need for unified cost-cutting solutions, the demand for advanced analytics solutions is expected to rise across various business sectors. Big data has become a critical element in developing corporate growth strategies, with a particular focus on cost-cutting and resource-saving through efficient supply chain optimization. By leveraging data, businesses can enhance the analytical capabilities of these solutions and gain valuable insights into the root causes of lost productivity and velocity. Additionally, these data can provide better visibility into supply chain performance, enabling businesses to manage their resources and prioritize improvement projects.
Restrain
The adoption of Supply Chain Analytics (SCA) solutions in supply chain operations is causing apprehension in industry leaders due to the rise in unethical activities and cyber threats. Even though integrating technology into supply chain operations has a promising outlook, the possibility of security and data breaches remains a significant concern that could hinder the potential for future growth.
Trend
The proliferation of both human-generated and machine-generated data is occurring ten times faster than conventional commercial data. Moreover, it is anticipated that the global industry will have 41 billion Internet of Things (IoT) devices by 2027 that will collect, evaluate, and share this data. This growth necessitates businesses and individuals to adopt sophisticated big data analytics to manage and analyze large amounts of structured and unstructured data.