|SAS Institute Inc.|
|Manhattan Associates Inc.|
|JDA Software Group Inc.|
|Market Driving Forces|
|use of various predictive processes|
|Due to the obvious rising complexity of the supply chain network|
Supply Chain Analytics Market Overview:
The Supply Chain Analytics Market size is anticipated to register USD 16.82 Billion by 2030, growing at a compound annual growth rate (CAGR) of 17.21 percent over the forecast timeframe of 2022 to 2030. In addition, to the increase in data production among businesses, there has been a change in consumer understanding of the advantages of supply chain management, which has fueled the development of the supply chain analytics industry. When it comes to customer administration, the majority of entrepreneurs and analysts believe that the combination of ai technology with logistics may be a powerful growth approach in terms of anticipating potential outcomes and providing a preemptive plan of action. This connection is anticipated to provide a strategic advantage for companies adopting distribution network analytics in order to reduce cost volatility by optimizing procurement and transportation operations, among other things.
Supply chain analytics is a methodology for extracting meaningful information from large amounts of original information, including such transactional, sensing, and shipping data, by using analytical tools and modeling methods to analyze large amounts of data. The increasing level of customer knowledge and awareness of the help that supply chain analytics may provide. This increase in consumer spending and knowledge is also anticipated to lead to an increase in the use of solution providers by businesses. Supplier management has evolved into a key component of companies, ensuring that products and services are supplied on time and with excellent customer service. The fast growth in data production among enterprises, as well as rising consumer understanding of the advantages of supply chain analytics, are driving the need for supply chain analytics in the market. Cloud computing as well as big data are having a major effect on supply chain administration as a result of the rise in the number of data sets being collected.
This report contains all the information on the global Supply Chain Analytics Market analysis and its strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global Supply Chain Analytics Market forecast for 2027 is also included in the report.Covid 19 Analysis:Ever since the beginning of 2020, COVID-19 has taken its toll throughout China, resulting in a scarcity of supplies. The inventory levels of products supplied from China, which comprised completed products for export as well as ingredients for the manufacturers, there were interruptions observed. As nations began to implement lockdowns, supply chains began to experience demand shocks as individuals began stockpiling consumer essentials in order to comply with the limitations placed on their freedom of movement. To satisfy demand, plant owners started using all available additional capacity to maximize output on the overall economy.
Market Dynamic:Drivers:The increasing requirement to enhance company operations is anticipated to fuel the supply chain analytics market growth in the coming years. Business procedures are critical in enhancing a company's competitive position in the marketplace. By concentrating on combining supply chain operations in the same nation, a local supply chain helps organizations coordinate their business activities more effectively. With the use of various predictive processes and risk-averting algorithms, supply chain analytics may help businesses increase their efficiency. It assists businesses in achieving new growth possibilities while also reducing mistakes and failing rates in their services and goods.
Opportunities:Due to the obvious rising complexity of the supply chain network, as well as the rising demand for genuine analysis of data throughout the eco-system, businesses are increasingly turning to cloud-based supply chain management solutions. It is primarily through the use of cloud-based analytics solutions that the entire supply chain operations can be tracked and analyzed across both forward and reverse supply chain ecosystems, respectively.
Restraints:Issue of data expectations of private cloud deployment, as well as monetary limitations among businesses, are issues that may limit the market's development mostly in the supply chain analytics sector. Among the major impediments to the expansion of the supply chain analytics industry is the linked digital environment as well as the data that is collected as a result of this connectivity. There is already significant progress in the cloud environment of analytics, which has resulted in the gathering of a huge quantity of data from many sources. The increased number of data breaches leads to the theft of sensitive information and the compromise of its security.
Challenges:With data intake through performance data, certain abilities are needed by data analyst teams in order to analyze and discover the trends that will assist advertisers in making the best choices for their businesses. The scarcity of qualified personnel in the supply chain sector is the most significant issue the organization faces.
Cumulative Growth Analysis:Retailers have been expanding their reach and revolutionizing the buying experience of the consumers as a result of improved broadband networks and rising Internet adoption. E-commerce and mobile trade have both played a role in this expansion and revolutionization. For this kind of selling to be successful, stock visibility must be high, which is critical for both customers and merchants.
In order to remain effective in omnichannel commerce, merchants must have access to real-time knowledge on the items or commodities being provided to customers that is free of discrepancies. When retailers use supply chain analytics, they may receive more precise information about how their products are moving across the supply chain, improving inventory visibility between 40percent to more than 90percent. It assists in the maintenance of item-level statistics in order to facilitate enhanced decisions.
Value Chain Analysis:According to the reports, the global supply chain analytics market is segmented on the basis of component, deployment, vertical, and regions. The supply chain analytics industry has been divided into two categories based on its component: solutions and services. Supplier management and procurement, manufacturing analytics, sales, and operations planning, transportation and logistics, visualization, and reporting tools are all included in the solution's sub-segments. Professional services and managed services are sub-categories of the services offered by the company. The supply chain analytics market has been segmented into two categories based on deployment: on-premise and on-cloud. The supply chain analytics market has been segmented based on vertical, with automotive & transportation, retail, manufacturing, healthcare, aerospace & military, and others being the most prominent.
Supply Chain Analytics Market Segmentation Overview:The market is segmented on the basis of components, deployment, vertical, and regions. The global supply chain analytics market trends are expected to witness decent growth during the forecast period.
By Application:Based on the application, the market is segmented into solutions and services. Supplier management and procurement, manufacturing analytics, sales, and operations planning, transportation and logistics, visualization, and reporting tools.
By End-users:Based on the propulsion types, the market is segmented into automotive & transportation, retail, manufacturing, healthcare, aerospace & military, and others.
Supply Chain Analytics Market Regional Analysis:According to the reports, During the forecast timeframe from 2017 to 2023, the supply chain analytics market is expected to expand at a considerable pace, according to industry analysts. It has been determined that the supply chain analytics market share is dominated by three regions: North America, Europe, Asia-Pacific, the rest of the world. North America currently has the highest market share, owing to the presence of major companies such as IBM Corporation, Oracle Corporation, and SAS Institute, which provide supply chain analytics solutions to businesses in the region. Supply chain analytics as well as technology advances were early adopters in the United States, resulting in the country having the biggest market share among the nations of North America.
Competitive Landscape:Significant players continue to innovate and make a significant investments in r&d in order to provide a cost-effective product offering. There have been recent mergers and acquisitions among many of the major competitors, a technique that the corporate organizations are using to broaden their influence to the target consumers and prospects.
Recent Development:Oracle introduced new artificial intelligence cloud apps in May 2018 that allow supply chain management to make trends and get insights into product problems. The company's global reach has been widened as a result of its extensive network of sales channels and distributors.
Based on the Component:
Based on Deployment Models:
Based on Industry Verticals:
Based on Regions:North America
|Market Size||USD 16.82 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||IBM Corporation MicroStrategy Inc. Oracle Corporation Tableau Software Inc. SAP SE Accenture PLC Genpact SAS Institute Inc. Manhattan Associates Inc. JDA Software Group Inc.|
|Key Market Opportunities||It is primarily through the use of cloud-based analytics solutions that the entire supply chain operations can be tracked and analyzed across both forward and reverse supply chain ecosystems, respectively.|
|Key Market Drivers||The increasing requirement to enhance company operations is anticipated to fuel the supply chain analytics market growth in the coming years.|
The global supply chain analytics market is expected to record a substantial market valuation of USD 16.82 Billion by 2030.
The global supply chain analytics market is projected to register a moderate 17.21% CAGR in the forecast period.
Technological advancements, rising data generation, and increasing consumer awareness are driving the growth of the market.
the lack of data privacy on public cloud and lack of investments are likely to hamper the growth of the supply chain market over the review period.
The solution segment is slated to expand as the fastest-growing segment.
The retail segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global supply chain analytics market are IBM Corporation (US), Oracle Corporation, Accenture PLC, among others.