Market Overview:
The global Supply Chain Analytics Market size was valued at USD 7.56 billion in 2022, and is projected to reach USD 16.57 billion by 2032 at a CAGR of 25.5% from 2022 to 2032.
Supply chain analytics refers to the process of collecting, analyzing, and using data from various supply chain processes to optimize performance, reduce costs, and improve overall efficiency. This includes analyzing data related to sourcing, procurement, inventory management, logistics, and distribution to gain insights and make informed decisions. The Supply Chain Analytics Market growth is being driven by various factors such as the increasing need for real-time visibility into supply chain operations, the growing use of big data analytics, and the adoption of advanced technologies such as AI, machine learning, and IoT.
One of the biggest opportunities in the Supply Chain Analytics Market is the increasing demand for real-time visibility into supply chain operations. This has led to the development of advanced analytics solutions that can provide real-time insights into inventory levels, shipment tracking, and other important metrics. Another opportunity for the Supply Chain Analytics Market is the growing use of big data analytics to optimize supply chain performance. By analyzing large amounts of data from various sources, companies can gain insights into customer demand, supplier performance, and other factors that can impact the supply chain. Moreover, the adoption of advanced technologies such as AI, machine learning, and IoT is also creating new opportunities in the supply chain analytics market. For example, AI and machine learning algorithms can be used to analyze supply chain data and identify patterns and anomalies that can help optimize performance. IoT sensors can also be used to collect data on inventory levels, shipment tracking, and other important metrics, which can be analyzed to gain insights into supply chain operations.
The supply chain analytics market is growing rapidly, driven by the need for real-time visibility, the use of big data analytics, and the adoption of advanced technologies. Companies that invest in supply chain analytics solutions can gain valuable insights into their supply chain operations, which can help optimize performance, reduce costs, and improve overall efficiency. However, they also need to address the challenges related to data quality and the lack of skilled personnel to effectively leverage the potential of supply chain analytics.
Growing increasing need for real-time visibility into supply chain operations is propelling the Supply Chain Analytics Market growth.
As global supply chains become more complex and distributed, companies face challenges in tracking and monitoring their inventory levels, shipments, and other critical metrics in real-time. This lack of visibility can lead to inefficiencies, delays, and higher costs. Supply chain analytics solutions can help address this challenge by providing real-time insights into supply chain operations. By leveraging data from various sources, including sensors, IoT devices, and other systems, these solutions can provide a complete picture of supply chain operations in real-time. Companies in the supply chain analytics market can use this data to optimize their inventory levels, track shipments, monitor supplier performance, and identify potential issues before they become problems.
Real-time visibility also enables companies in the supply chain analytics market to respond quickly to changes in demand, supply, or other factors that can impact the supply chain. For example, if a supplier experiences a delay in delivering a critical component, real-time visibility can help the company quickly identify alternative suppliers and adjust their production plans accordingly. The increasing need for real-time visibility is being driven by several factors, including the growing demand for faster and more responsive supply chains, the rise of e-commerce and omnichannel retail, and the increasing importance of supply chain resilience and risk management in the wake of disruptions such as the COVID-19 pandemic. Overall, the need for real-time visibility is a key driver of the supply chain analytics market, as companies seek to gain insights and optimize their supply chain operations in real-time to meet the demands of today's global economy.
Geography:
North America currently dominates the global supply chain analytics market, in terms of revenue share. This is due to the early adoption of advanced technologies such as big data analytics, cloud computing, and IoT in the region, as well as the presence of several key players in the Supply Chain Analytics Market. The US is the largest supply chain analytics market in the region, followed by Canada. Europe is the second-largest supply chain analytics market with countries such as Germany, the UK, and France being the major contributors to market growth. The region has a highly developed transportation and logistics sector, which has led to the increasing adoption of supply chain analytics solutions to optimize operations and reduce costs. The Asia Pacific region is expected to be the fastest-growing supply chain analytics market in the coming years. Countries such as China, Japan, India, and South Korea are driving supply chain analytics market growth in the region, thanks to the increasing focus on supply chain optimization, the adoption of advanced technologies, and the growing demand for e-commerce and omnichannel retail.
Other regions, such as the Middle East and Africa and Latin America, are also expected to experience significant growth in the supply chain analytics market in the coming years, as companies in these regions increasingly adopt technology-driven approaches to improve supply chain efficiency and reduce costs.
Impact of COVID-19 on the global Supply Chain Analytics Market:
The COVID-19 pandemic has had a significant impact on the supply chain analytics market, albeit in different ways. The COVID-19 pandemic has disrupted global supply chains, leading to shortages, delays, and higher costs for many businesses. As a result, there has been an increasing focus on supply chain resilience and risk management, with companies looking to adopt technology-driven approaches to improve visibility, optimize operations, and reduce the impact of disruptions. This has led to a surge in demand for supply chain analytics solutions that can provide real-time visibility and insights into supply chain operations. However, the pandemic has also led to budget cuts and delays in technology adoption for many companies, which could impact supply chain analytics market growth in the short term.
Impact of the Russia-Ukraine War on the global Supply Chain Analytics Market:
The ongoing conflict between Russia and Ukraine has also had an impact on the supply chain analytics market, particularly in Europe. The conflict has led to disruptions in trade and transportation, as well as supply chain uncertainties and risks. This has increased the need for supply chain analytics solutions that can help companies manage and mitigate these risks. However, the political and economic instability in the region could also impact market growth in the short term, as companies may delay investments in technology due to uncertainty and risk aversion. Overall, the impact of the COVID-19 pandemic and the Russia-Ukraine conflict on the supply chain analytics market is complex and multifaceted, with both positive and negative effects on supply chain analytics market growth and adoption.
Segmentation:
By Deployment Type:
· On-premises
· Cloud-based
By Component:
· Software
· Services
By Application:
· Inventory management
· Demand forecasting and planning
· Supplier and vendor management
· Transportation and logistics management
· Others
By End-User:
· Retail and consumer goods
· Manufacturing
· Healthcare
· Transportation and logistics
· Others
Company Profiles:
· IBM Corporation
· SAP SE
· Oracle Corporation
· JDA Software Group Inc.
· Kinaxis Inc
· Manhattan Associates Inc.
· Blue Yonder Group Inc.
· MicroStrategy Inc.
· Tableau Software LLC
· TIBCO Software Inc.
· Infor Inc.
· SAS Institute Inc.
· QlikTech International AB
· Sisense Inc.
· Logility Inc.
Global Supply Chain Analytics Market: Market Size EstimationWe Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
Only Three Thousand Nine Hundred Fifty US dollar
Only Four Thousand Nine Hundred Fifty US dollar
Only Five Thousand Nine Hundred Fifty US dollar