Supply Chain Analytics Market Size, Share, Growth Analysis, By Component (Software, Demand Analysis and Forecasting), By Service (Managed Services, Professional Services), By Deployment Mode (On-premises, Cloud), By Organization Size (Small and Medium-sized Enterprises, Large Enterprises), By Vertical (Retail and Consumer Goods, Pharmaceutical), By Region - Industry Forecast 2024-2031

Global Supply Chain Analytics Market size was valued at USD 5.10 billion in 2022 and is poised to grow from USD 6.18 billion in 2023 to USD 28.57 billion by 2031, growing at a CAGR of 21.10% during the forecast period (2024-2031).

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.