USD 5.18 billion
Report ID: SQMIG45C2024 | Region: Global | Published Date: April, 2023 | Pages: 160 | Tables: 89 | Figures: 76
Global Supply Chain Analytics Market size was valued at USD 5.18 billion in 2021 and is poised to grow from USD 6.12 billion in 2022 to USD 22.46 billion by 2030, growing at a CAGR of 17.8% in the forecast period (2023-2030).
Supply chain analytics (SCA) is gaining significant demand as a result of greater awareness of the benefits of SCA solutions such as forecasting accuracy, supply chain optimization, waste minimization, and meaningful synthesis of business data. Growing number of small and medium-sized businesses, as well as their increased investment on applying analytics in order to maintain a strong market position and compete with other market players, are likely to drive market expansion throughout the forecast period.
SCA provides organizations with a broader view of supply chain activities, allowing them to more effectively manage any issues that may impact the business's profitability or sustainability. Mobile-based solutions assist businesses in tracking inefficient supplier networks, increased warehousing costs, and incorrect forecasts, among other things. Analytics solutions are also important in analyzing business operations, which can help improve inventory management and, as a result, help reduce associated cost components that can stymie business growth. A recent surge in the adoption of mobile-based solutions is expected to open up new opportunities for the market growth.
US Supply Chain Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.18 billion
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Supply Chain Analytics Market is segmented based on software into supplier performance analytics, demand analysis and forecasting, and inventory analytics. By services, the Supply Chain Analytics Market is segmented into professional, support & maintenance. By deployment model, the Supply Chain Analytics Market is categorized into cloud, on-premises. Based on region, Supply Chain Analytics Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Supply Chain Analytics Market Analysis by Service
In 2021, the professional services category had a market share of more than 60%. To minimize data loss or theft, professional services must guarantee that the new systems are compatible with the current systems of multiple departments, and that the new systems are integrated with the old ones, therefore promoting segment growth. Increased demand for professional services such as data analysis and preservation, as well as expert advice on developing technologies. However, data scientist teams require specialized talents to detect and uncover patterns that assist marketers in making better judgments; as a result, the supply chain industry lacks experienced or professional services and persons.
Supply Chain Analytics Market Analysis by Deployment Model
In 2021, the cloud segment had a market share of more than 62%. Technological advancement has resulted in widespread adoption of IoT devices, increasing OEM customers' reliance on cloud-based platforms. Cloud deployment provides organizations with greater flexibility and allows for large-scale customization of products and services. Owing to the benefits in data security and risk analysis, the industry is increasingly turning to big data analytics solutions. Due to increased mobility and ease of use of cloud services, supply chain analytics solutions are being aggressively deployed on cloud-based platforms.
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With a market share of more than 38% in 2021, North America dominated the global supply chain analytics market. Owing to the complexity of corporate processes, North American industrial organizations are putting a greater emphasis on the visual display of operational data. This enables businesses to quickly assess the current data health of their supply chain, allowing for better strategic decision-making.
The European regional market is expected to grow at a promising rate over the forecast period. The European Commission's Single Market Strategy allows commodities, services, people, and capital to move freely throughout the European Union. It broadens the geographical market for European businesses and expands the acceptance and deployment of SCA solutions.
The Asia Pacific regional market is expected to grow significantly over the forecast period. The growth could be attributed to a growing business awareness of the benefits of analytics solutions. Furthermore, the growing number of small and medium-sized businesses (SMBs) and their increasing expenditure on the deployment of cutting-edge technology to expand their businesses may contribute to the growth of the regional supply chain analytics market.
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Supply Chain Analytics Market Drivers
Supply Chain Analytics Market Restraint
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SAP SE, Oracle Corporation, Accenture PLC, and Aera Technology are just a few of the prominent providers providing unified software solutions that address the diverse demands of a supply chain. The trend of improving the delivery mechanism from point of production to point of consumption has encouraged businesses to use unified advanced analytics software. The advancement of supply chain solutions using big data and predictive analytics, as well as the use of interactive software solutions and functional dashboards, stimulates market participants to create sophisticated supply chain analytics solutions.
Top Players in the Global Supply Chain Analytics Market
Supply Chain Analytics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, the cloud sector had a market share of more than 58 percent. Technological advancement has resulted in widespread adoption of IoT devices, increasing OEM customers' reliance on cloud-based systems. Cloud deployment provides enterprises with greater flexibility and enables for large-scale customization of goods and services. Because of the benefits in data security and risk analysis, the sector is increasingly turning to big data analytics solutions. Because of increased mobility and the ease of use of cloud services, supply chain analytics solutions are being aggressively deployed on cloud-based platforms.
|Market size value in 2021||USD 5.18 billion|
|Market size value in 2030||USD 6.12 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Supply Chain Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Supply Chain Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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