Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Supply Chain Analytics Market Research Report.
The global supply chain analytics market is presumed to garner USD 8.89 billion and register 13.7% CAGR during the review period (2017-2023) owing to the advent of cloud, asserts Market Research Future (MRFR). Supply chain analytics is a method of applying modeling techniques and statistical tools in order to obtain meaningful patterns from unstructured and raw data such as transactions, machine operations, shipment data, climatic conditions, and sensors. Supply chain analytics help enterprises enhance profitability, achieve growth, and increase market shares by using derived insights for making strategic decisions.
Drivers and Constraints Impacting the Market
The rapid increase in volume of business data generated across industries such as transportation, manufacturing, healthcare, and retail & consumer, are prompting enterprises to adopt supply chain analytics in order to convert raw data into meaningful insights. Also, growing awareness associated with advantages offered by supply chain analytics is further encouraging its adoption across several industries. Supply chain analytics solutions also facilitate strategic decision making and assist organizations to strengthen their market position, accelerate growth by leveraging procured insights, and optimize return on investment. This is likely to contribute to the market growth in the coming years.
On the flip side, concern over the security of data is considered to retard the market growth in the coming years. Moreover, lack of awareness regarding supply chain analytics services and products in the developing regions is presumed to impede the market growth.
Global Supply Chain Analytics Market: Segmental Analysis
The global supply chain analytics market has been segmented on the basis of component, deployment, vertical, and region.
By mode of component, the global supply chain analytics market has been segmented into services and solution. Among these, the solution segment is likely to showcase 12.17 % CAGR during the review period.
By mode of deployment, the global supply chain analytics market has been segmented into cloud and on-premise. Among these, the cloud segment is presumed to capture a larger share by the end of the forecast period due to advantages of cloud solutions such as efficiency, scalability, and reduction of errors. Moreover, cloud technology can assist in decision making and integrate with existing systems.
By mode of vertical, the global supply chain analytics market has been segmented into automotive and transportation, aerospace and defense, healthcare, manufacturing, retail, and others. Among these, the retail segment is presumed to register 16 % CAGR during the review period. Supply chain analytics offer retail sector firms with valuable insights in order to improve the delivery of the product. Also, product sourcing and vendor management are metrics which can be tracked through the software.
Geographically, the supply chain analytics market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, Europe is considered to dominate the global market during the assessment period. Government policies in the European Union favor the use of technology to ease production and operational expenses, which drives the market in this region.
The Asia Pacific region is likely to register steady growth due to the emergence of several small and medium businesses in this region.
October 22, 2018: South Korean data security firm, Fasoo has recently completed a data security project for global auto parts manufacturer Mando. The security firm has deployed its solution to all of the auto parts maker's global locations in 12 different countries, including South Korea, the United States, Germany, and China.
The major players operating the global market are SAP SE, SAS Institute Inc., Tableau Software Inc., Accenture PLC, Manhattan Associates Inc., IBM Corporation, MicroStrategy Inc., Oracle Corporation, Genpact, and JDA Software Group Inc