(MENAFN- GlobeNewsWire - Nasdaq) The Global Supply Chain Analytics Market was valued USD 5.4 Billion in 2023 and projected to reach USD 16.1 Billion by 2030, growing at a CAGR of 20.9% during the forecast period of 2023-2030
Richmond, Feb. 13, 2024 (GLOBE NEWSWIRE) -- According to a research report " Supply Chain Analytics Market” , by Component (Software, Services), Solutions (Demand Analysis and Forecasting, Supplier Performance Analytics, Spend and Procurement Analytics, Inventory Analytics, Distribution Analytics), Services (Professional, Managed), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2030.
Global Supply Chain Analytics Market Report Scope:
| Market size value in 2023
| USD 5.4 Billion
| Market size value in 2030
| USD 16.1 Billion
| CAGR (2023-2030)
| Forecast Period
| Historic Data
| Forecast Units
| Value (USD Million/USD Billion)
| Segments Covered
| Solutions , Component, End User and Region
| Geographies Covered
| North America, Europe, Asia Pacific, and RoW
| Sample of Companies Covered
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TOC Covers in Depth & Breath on Supply Chain Analytics Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits .
The global supply chain analytics market plays a pivotal role in the overall business ecosystem by providing organizations with the tools and insights needed to optimize their supply chain operations. With the increasing complexity and globalization of supply chains, analytics solutions enable companies to gather and analyze vast amounts of data, offering valuable insights into key areas such as demand forecasting, inventory management, and logistics optimization. This not only helps in reducing operational costs but also enhances overall efficiency, resilience, and responsiveness to market dynamics. Businesses can make data-driven decisions, identify areas for improvement, and proactively address challenges, thereby streamlining their supply chain processes and gaining a competitive edge in the market.
The industry benefits from global supply chain analytics through improved decision-making, increased visibility, and enhanced risk management. By leveraging analytics, organizations can identify patterns, trends, and potential risks in real-time, allowing for proactive measures to be taken to mitigate disruptions. This market-driven approach contributes to better resource allocation, improved customer satisfaction, and ultimately, increased profitability. As businesses continue to recognize the importance of data-driven insights in navigating the complexities of global supply chains, the demand for supply chain analytics solutions is expected to grow, fostering innovation and efficiency across various industries.
Major Vendors in the Global Supply Chain Analytics Market:
SAP Oracle IBM SAS Institute Software AG MicroStrategy Tableau Qlik TIBCO Cloudera Logility Savi Technology Infor RELEX Solutions TARGIT Voxware The AnyLogic Company Antuit Axway AIMMS BRIDGEi2i Datameer Rosslyn Analytics Manhattan Associates Salesforce
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Data Integration and Visibility
In the dynamic landscape of global supply chains, one key driver for the supply chain analytics market is the increasing demand for enhanced data integration and visibility across the entire supply chain network. Organizations are recognizing the value of real-time, end-to-end visibility into their supply chain processes. This involves integrating data from various sources, such as suppliers, manufacturers, logistics providers, and distributors, into a centralized analytics platform. With the advent of technologies like the Internet of Things (IoT) and RFID, companies can now capture and analyze real-time data from different touchpoints in the supply chain. This data integration facilitates better decision-making by providing actionable insights into inventory levels, production status, and delivery schedules. Businesses can optimize their operations, reduce lead times, and proactively address disruptions, ultimately improving overall supply chain efficiency.
Increasing demand for real-time visibility and transparency in supply chain operations. Growing adoption of advanced technologies such as IoT, AI, and machine learning in supply chain management. Rising complexity and globalization of supply chain networks. The need for cost reduction and operational efficiency in supply chain processes.
Expansion of e-commerce and Omni channel retailing. Emphasis on sustainability and environmentally friendly supply chain practices. Integration of blockchain technology for enhanced security and traceability. Rising awareness and recognition of the strategic importance of supply chain analytics in decision-making.
Advanced Analytics and Predictive Modeling
Another significant driver for the global supply chain analytics market is the adoption of advanced analytics and predictive modeling techniques. As supply chains become more complex, organizations are leveraging analytics to gain deeper insights and forecast future trends. Advanced analytics, including machine learning and artificial intelligence, enable companies to analyze historical data patterns, identify correlations, and predict potential supply chain disruptions. Predictive modeling helps in demand forecasting, inventory optimization, and risk management. For instance, predictive analytics can anticipate fluctuations in demand, allowing businesses to adjust inventory levels accordingly. This proactive approach minimizes excess inventory costs and stockouts, contributing to better overall supply chain performance. By harnessing the power of predictive analytics, organizations can move from a reactive to a proactive supply chain management strategy, enhancing their ability to respond swiftly to market changes.
North America dominates the market for Supply Chain Analytics.
The dominating region in the global supply chain analytics market is North America, with the United States being the primary contributor. The region's dominance can be attributed to the presence of established players, technological advancements, and a high level of awareness regarding the benefits of supply chain analytics. According to recent market reports, North America accounted for over 40% of the global market share.
However, the APAC region is emerging as a high-growth market for supply chain analytics. China, in particular, is witnessing rapid adoption due to its robust manufacturing sector and the integration of advanced technologies. The region's growth is fueled by the increasing demand for efficient supply chain management in the wake of expanding e-commerce, manufacturing, and logistics industries.
Furthermore, countries in Latin America, such as Brazil and Mexico, are showing promise with their growing awareness of supply chain optimization. These nations are investing in analytics solutions to streamline their supply chain processes, reduce operational costs, and enhance overall competitiveness in the global market.
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The Solution Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global supply chain analytics market, the solutions segment comprises various components, including demand analysis and forecasting, supplier performance analytics, spend and procurement analytics, inventory analytics, and distribution analytics. Among these, supplier performance analytics stands out as the dominating segment. This dominance can be attributed to its pivotal role in optimizing supplier relationships and enhancing overall supply chain efficiency. Supplier Performance Analytics enables organizations to assess and monitor the performance of their suppliers, ensuring reliability, quality, and adherence to contractual agreements. By leveraging data-driven insights, businesses can make informed decisions, mitigate risks, and streamline their procurement processes, ultimately contributing to a more resilient and responsive supply chain.
Segmentations Analysis of Supply Chain Analytics Market: -
By Component By Solutions
Includes Demand Analysis and Forecasting Supplier Performance Analytics Spend and Procurement Analytics Inventory Analytics Distribution Analytics By Services
Professional Services Managed Services By Deployment Mode By Organization Size By Vertical
Automotive Retail & Consumer Goods F&B Manufacturing Machinery & Industrial Equipment Manufacturing Pharmaceutical Government Energy & Utilities By Region
North America Latin America Europe Asia Pacific Middle East & Africa
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