Global Supply Chain Analytics Market Size, Share And Forecast To 2030

(MENAFN- Straits Research) Enterprises utilize the new supply chain analytics technology to save money, increase corporate growth, and enhance customer satisfaction. The need for increased supply chain visibility, decreased warehousing costs, fluctuating consumer needs, and precise projections drive supply chain analytics solutions demand. Numerous organizations are implementing solutions to increase supply chain visibility and productivity. Soon, the need for better visibility of supply chain operations, such as orders, shipments, and stocks, is anticipated to fuel substantial growth in the global market for supply chain analytics. Among the main factors propelling the development of the worldwide supply chain analytics market are the need to boost operational and supply chain efficiency, the quick increase in business data volume across several sectors, including manufacturing, retail, and transportation, the surge in government investments in Big Data supporting initiatives, and the rise in adoption of Big Data technologies.
Market Dynamics
The Growing Need to Enhance the Operational and Supply Chain Efficiencies to Drive the Global Supply Chain Analytics Market
Diverse sectors are making substantial investments to improve operationally and supply chain efficiencies and to digitalize their business models. The supply chain function has shifted its emphasis to sophisticated planning approaches, such as integrated sales and operations planning or analytical demand planning, which are now standard business practices in many firms. The supply chain function ensures integrated operations from customers to suppliers. Due to the surge in demand for real-time monitoring and supply-demand forecasting, the supply chain analytics software market is expected to rise rapidly over the forecast period.
In addition, it is projected that adopting trends such as Industry 4.0 and Logistics 4.0 would create lucrative opportunities for market growth. Industry 4.0 is an automation concept that blends traditional manufacturing and industrial practices with contemporary technology, such as cloud computing, cyber-physical systems, the Internet of Things (IoT), and cognitive computing. The market is developing due to increased government funding for Big Data projects in several countries and numerous initiatives initiated by governments to construct Big Data infrastructure. In Japan, for instance, the government has undertaken various finance and policy measures. Under such government projects, the development of data analysis technologies and the collection of Big Data via the Internet of Things (IoT) have accelerated Japan's market expansion.
Growing Awareness to Create Global Supply Chain Analytics Market Opportunities
The supply chain analytics industry is probable to expand as more individuals recognize the advantages of implementing supply chain analytics software. It reduces inventory costs by intelligent demand sensing, addresses production workflow bottlenecks with predictive and prescriptive analytics, enhances demand forecasting, and plans transportation logistics. Software for supply chain analytics can also be used to drive sales and operations execution (S&OE) procedures, which help keep longer-term operational goals on track by combining real-time information into an organization's value stream and providing structure to data streams. Additionally, it helps optimize manufacturing plans.
Regional Insights
North America will be the predominant region, expanding at a CAGR of 16.21%.
It is anticipated that North America will continue to hold the top spot throughout the projected period due to increased spending on logistics and transportation, pushing the adoption of automation technology in supply chains. This region's vast and intensely competitive transportation and logistics industry comprises numerous distinct businesses, including the shipping, rail, and air services industries. Due to factors including the digital revolution in the transportation industry, expanding urbanization, and increased traffic congestion, it is anticipated that the use of SCA solutions in transportation management will increase.
In addition, the region is home to significant providers of innovative supply chain management software. North America is well-represented by major supply chain management software suppliers, such as Oracle Corporation and SAP SE. To address the increased need for advanced supply chain management services in various industries, including transportation, automotive, food & beverage, vendors in this industry have created cutting-edge SCA software. This is expected to generate profitable chances for market expansion.
Asia Pacific is envisioned to hold USD 7,127 million, growing at a CAGR of 21%. Supply chain analytics software has evolved into a crucial investment for companies looking to maintain their growth and boost their productivity due to the solid economic expansion and the ongoing rise of the services sector. In addition, factors like the expansion of mobile usage, the increase in cloud adoption by SMBs, and the modernization of the manufacturing and construction industries all contribute to the significant investment in SCA software in emerging regions.
Additionally, due to rising awareness of the advantages of supply chain analytics solutions among enterprises, the Asia-Pacific region is envisaged to develop quickly in the future. In addition, the rapid growth of small and medium-sized businesses and the increased expenditures on using cutting-edge technology to enhance their operations are expected to drive the market's expansion.
Key Highlights

The global supply chain analytics market had a revenue holding of USD 6,240 million in 2021. It is expected to reach USD 27,890 million by 2030, growing at a CAGR of 18.1% during the forecast period (2022-2030).
Based on the component, the software section is contemplated to grow at a CAGR of 17% and hold the largest share.
Based on the deployment, the on-premise section will likely hold the largest share, growing at a CAGR of 16.65%.
Based on enterprise size, the section of large enterprises will likely advance at a CAGR of 16.42% and hold the largest share.
Based on the industry vertical, the retail & consumer goods section is envisaged to hold the largest share, growing at a CAGR of 14.27%.
Based on regional analysis, North America will be the predominant region, expanding at a CAGR of 16.21%.

Competitive Players in the Market

Oracle
SAP SE
IBM
SAS Institute
MicroStrategy
Tableau
Qlik
Infor Inc.
Kinaxis Inc.
Manhattan Associates

Market News

In 2022, Oracle and Microsoft Corp announced the release of Oracle Database Service for Microsoft Azure. Customers of Microsoft Azure can provision, manage, and manage enterprise-grade Oracle Database solutions in Oracle Cloud Infrastructure (OCI) using a familiar interface.
In 2022, IBM Corporation announced an expanded partnership with SAP to undertake one of the world's most significant corporate transformation projects based on SAPÒ ERP software.
In 2022, IBM Corporation signed a strategic collaboration agreement with Amazon Web Services to deliver IBM software-as-a-service on AWS.

Global Supply Chain Analytics Market: Segmentation
By component

Software
Services

By Deployment

On-premise
Cloud

By enterprise size

Large Enterprises
Small & Medium Enterprises (SMEs)

By industry vertical

Automotive
Food & Beverages
Healthcare & Pharmaceuticals
Manufacturing
Retail & Consumer Goods
Transportation & Logistics
Others

By region

North America
Europe
Asia Pacific
LAMEA

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