Digital Supply Chain Market: Current Analysis and Forecast (2022-2028)

A supply chain that makes use of digital technologies and data analytics to help make decisions, improve performance, and respond quickly to changing conditions is known as a digital supply chain. Computerized supply chains utilize the information delivered by each step of an inventory network to design successfully and make dynamic reactions when unexpected deferrals emerge. The factors like increased personalization, greater flexibility, and improved planning have propelled the demand in this market.

The Digital Supply Chain Market is expected to grow at a steady rate of around X% owing to the increasing advancement in technologies like IoT, cloud services, GPS, etc. Major companies in the market offer data analytics and big data predictive analysis applications with technologically advanced features. For instance, by enabling businesses of all sizes to use enterprise, edge, and third-party data for demand forecasting, Cloudera is addressing and reducing supply chain risk by delivering hybrid architecture solutions that enable data to be used where it makes the most sense, optimize data infrastructure spend, and deliver data governance and lineage.

Based on components, the market is bifurcated into solutions and services. During the forecast period, the services sector is anticipated to experience the highest rate of growth as event and supply chain visibility assist businesses in defining crucial aspects of the entire supply chain and managing events in various departments.

On the basis of technology, the market is categorized into IoT, Cloud, GPS Tracking, RFID (radio frequency identification. Among these, the IoT to hold a significant share in the market in 2020. This is mainly due to the advantages IoT offers as compared to its counterparts such as increased visibility, better customer service, and real-time tracking of goods. For instance, blockchain and the Internet of Things are being used by OBORTECH to create a completely digital ecosystem that connects actors in the supply chain and eliminates technical inconsistency that prevents efficient data exchange.

Based on industry verticals, the digital supply chain market has been classified into retail & consumer goods, healthcare & pharmaceuticals, manufacturing, foods & beverages, and others. The food & beverages industry is to witness higher revenue during the forecast period because nowadays, consumers demand up-to-date information about the food they consume, which can be obtained through digital media. As a result, the digital supply chain market is expanding as consumers become more aware of it.

For a better understanding of the market adoption of the All-Terrain Vehicle industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a highest CAGR during the forecast period. This is mainly because artificial intelligence (AI), the Internet of Things (IoT), robotics and automation, autonomous automobiles, augmented and virtual reality, digital twins, and 5G networking are the emerging technologies in North America that are driving this trend. Also, major players in the market like IBM Corporation, SAP SE and Salesforce.com, Inc. continue to invest in organizing various championships for Powersports enthusiasts. For instance, IBM Corporation, CSCOs are putting in a lot of effort in order to construct digital supply chains that are more intelligent and capable of significantly increasing resilience and performance.

Some of the major players operating in the market include: Cloudera, Inc.; IBM Corporation; SAP SE; MicroStrategy, Inc.; TIBCO Software, Inc.; SAS Institute, Inc.; Salesforce.com, Inc.; Oracle Corporation; Software AG; Infor, Inc.