The global supply chain analytics market witnesses rapid growth. Sustainability in supply chains offers significant advantages, adapting to support sustainability and protect the planet. With recent covid-led crises, supply chain has garnered much attention due to disturbed consumer goods supplies particularly, personal care products and personal protective equipment.
With the rising demand for maintaining sustainable supply chains, the market is projected to witness a significant revenue rise. According to Market Research Future (MRFR), the global supply chain analytics market would reach exponential heights by 2027, registering a phenomenal CAGR during the forecast period (2020-2027).
Moreover, the spurring rise in the retail market and growing focus on customer satisfaction needs and adoption of technologies are major supply chain analytics market trends. Advances in analytical capabilities and supply chain integration with artificial intelligence provide advantages, such as reduced cost fluctuations and improved sourcing and logistics activities.
Additionally, increasing uptake of IoT platforms that help organizations enhance their business operations increases the supply chain analytics market size. With the growing adoption of supply chain analytics in the rising numbers of BFSI and IT & telecom companies, the market has a positive outlook in the years to come. Similarly, supply chain intelligence and emergency response management technology upgrades foster supply chain analytics market growth.
On the other hand, the connected digital space and the data gathered along with it and data privacy issues associated with public cloud deployments are major factors projected to impede the market growth. Also, monetary constraints among enterprises can restrain market growth.
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Global Supply Chain Analytics Market – Segmentation
The supply chain analytics market forecast is segmented into components, deployments, verticals, and regions. The component segment is sub-segmented into solutions and services. The sub-segment solution is further bifurcated into supply chain planning & procurement, transportation & logistics, sales & operation planning, manufacturing analytics, visualization & reporting tools, and others.
The sub-segment service is further bifurcated into professional services and managed services. The deployment segment is sub-segmented into on-premise and on-cloud. The vertical segment is sub-segmented into retail, healthcare, manufacturing, automotive & transportation, aerospace & defense, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Supply Chain Analytics Market – Regional Analysis
North America dominates the global supply chain analytics market with the presence of significant players such as IBM Corporation, Oracle Corporation, and SAS Institute providing supply chain analytics solutions. Besides, the largest market share attributes to the increasing adoption of automation, and high investments in developing cloud-based solutions & other related technologies are supply chain analytics market trends.
Global Supply Chain Analytics Market – Competitive Analysis
Numerous players form a competitive landscape in the supply chain analytics market. These players adopt aggressive strategic initiatives such as innovation, mergers & acquisitions, and brand reinforcement. They continuously launch analytics and services in developing economies to take advantage of the economic growth in these regions.
Players active in the global supply chain analytics market include MicroStrategy, Inc., IBM Corporation, Oracle Corporation, SAP SE, Tableau Software, Inc., Accenture PLC, Manhattan Associates Inc., Genpact, SAS Institute Inc., and JDA Software Group, Inc., among others.
Industry/ Innovation/ Related News
April 20, 2021 --- Researchers from Texas A&M University announced the development of a web-based dashboard designed to predict COVID-19 threats to supply chains, share data and foster analysis. The collaborative platform can improve decision-making by researching potential impacts like social, economic, and environmental on supply chains due to COVID-19.
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