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Industry Trends
Supply Chain Analytics Market size exceeded USD 4 billion in 2020 and is projected to register gains at over 16% CAGR from 2021 to 2027. Rise in demand for supply chain efficiencies and the need for improved operational processes is expected to fuel the industry growth. The growing volume & inclination toward data-based decision making is supporting the adoption of supply chain analytics solutions & services across industries. Significant technology innovations in supply chain management are anticipated to propel the industry growth.
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Supply chain analytics solutions & services have gained significant demand from industries amid the ongoing COVID-19 pandemic as a majority of the companies have switched to big data and analytics. With disruptions across the supply chain, enterprises are set to adopt analytics solutions to plan, predict, and forecast the demand & supply. Considering the present interruptions caused due to the COVID-19 crisis, the demand for supply chain analytics solutions is expected to increase significantly.
The traditional supply chain systems require manual management and information updates. The integration of these disruptive technologies has helped companies to automate the monitoring of stocks and production along with inventory management in real-time. This provides enhanced supply chain visibility and administration capabilities. These advanced benefits and consistent innovation are driving the demand for supply chain analytics solutions.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | USD 4 Billion |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 16% |
2027 Value Projection: | USD 10 Billion |
Historical Data for: | 2016 to 2019 |
No. of Pages: | 275 |
Tables, Charts & Figures: | 465 |
Segments covered: | Component, Organization size, deployment model, Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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In the UK, the solution segment held above 60% of the supply chain analytics market share in 2020. The enterprise-wide need to improve operational effectiveness and efficiency through data-driven verdicts is propelling the adoption of supply chain analytics solutions. Regional companies across the market are developing advanced technology solutions to assist enterprises with business decisions. For instance, in January 2021, The Smart Cube launched the latest version of its Amplifi Pro, a procurement intelligence platform. The latest version features additional technical enhancements and features. This launch helped the company to serve advanced tools for industrial enterprises to cater to their procurement decisions.
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The supply chain analytics market from SMEs in China is projected to witness a growth rate of over 23% through 2027. The consistently increasing volumes of SMEs across the retail and manufacturing industries have contributed to the segment growth. In addition, supportive government initiatives will propel the business expansion.
For instance, in February 2020, the Chinese government launched supportive policies to support the market growth of SMEs with production and operation processes. The launched policies target finance, social security, subsidies, and taxation. The launched policies apply to all SMEs including international companies registered in China. These finance policies are forecast to enable the adoption of supply chain analytics solutions across SMEs.
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The Brazil cloud deployment market was around 26% in 2020 and is anticipated to grow exponentially from 2021 to 2027. The country is witnessing an expansive adoption of cloud-based services. For instance, according to the Brazilian Network Information Centre’s research study, in 2019, the penetration of cloud-based storage augmented to 38% from 25% in 2018.
Regional enterprises are emphasizing on edge technologies to improve their business efficiencies, supporting the market statistics. For instance, in April 2020, CargoX, a Brazilian logistics startup company, raised USD 80 million in a Series E funding round led by Goldman Sachs, Farallon Capital, LGT Lightstone, and Valor Capital. The company planned to utilize the raised funding for the development of edge-technologies and enhance its logistics operations. Considering cloud adoption, the demand for cloud-based supply chain analytics solutions is expected to increase significantly across the country.
In India, the retail application captured more than 23% market share in 2020 and is forecast to expand at above 25% CAGR till 2027. Growth is attributed to the expansive retail & e-commerce industry followed by investments from private enterprises. For instance, in August 2018, IKEA, a furnishing retailer, planned to invest approximately USD 157.5 billion to open 25 stores by 2025 followed by its first store in Hyderabad, India. According to the India Brand Equity Foundation, the Indian retail market is poised to cross USD 1,200 billion by FY2021. Considering these figures, regional enterprises are predicted to drive demand for supply chain analytics solutions & services.
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North America supply chain analytics market held about 40% share in 2020 and is estimated to dominate the industry through 2027. The widespread presence of prominent enterprises including IBM Corporation and Oracle Corporation along with supply chain analytics solution development & innovation is contributing to the market revenue.
For instance, in September 2020, Oracle Corporation launched the latest iteration of its Oracle Fusion Cloud Supply Chain & Manufacturing solution in the market. The company added logistics digital assistance, AI-powered planning advisor, product procurement, and revenue management capabilities. This launch helped the company to address the demand from enterprises to resolve complexities that arose due to the COVID-19 crisis. Similarly, the expansive penetration of supply chain analytics solutions across the region is propelling the business growth.
The global supply chain analytics market is witnessing considerable new product developments to cater to the demand from corporate enterprises. For instance, in October 2019, IBM Corporation launched an integrated supply chain suite powered by IBM Blockchain and Watson AI. The launched suite incorporates features from sterling order management and B2B networks solution. This launch helped the company to serve the global supplier ecosystem with advanced supply chain analytics solutions.
The market has also witnessed several strategic acquisitions and partnerships. For instance, in October 2020, Information Resources, Inc. acquired Retail Solutions, Inc., a supply chain analytics solution provider. This acquisition helped the company to serve retailers and CPG manufacturers more effectively.
Some of the key players operating in the market are Antuit.ai, Axway, Inc., Blue Yonder Group, Inc., Bridgei2i Analytics Solutions Private Limited, Capgemini SE, DataFactZ, Halo BI (Logility Inc.), IBM Corporation, Infor, Logility, Inc., Manhatten Associates, Inc., Oracle Corporation, QlikTech International AB, Sage Clarity Systems, SAP SE, SAS Institute Inc., Savi Technology, Tableau Software, LLC., TIBCO Software, and Voxware.
Market, By Component
Market, By Organization Size
Market, By Deployment Model
Market, By Application
The above information has been provided for the following regions and countries: