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Supply Chain Analytics Market Size By Component (Solution, Service), By Application (Retail, Manufacturing, Transportation & Logistics, Healthcare, Government & Defense, Automotive, Energy & Utilities), Organization Size, Deployment Size & Forecast, 2023 – 2032
- Report ID: GMI2024
- Published Date: Jan 2023
- Report Format: PDF
Industry Drivers
Supply Chain Analytics Market size crossed USD 6 billion in 2022 and is anticipated to exhibit a 15% CAGR from 2023 to 2032.
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The swiftly expanding e-commerce sector, particularly across developing countries such as India and China is expected to offer lucrative business prospects for the market. As per the 2022 Global Payments Report by FIS, the e-commerce business in India is estimated to witness 96% growth between 2021 and 2025, surpassing USD 120 billion in transaction value. Rapid urbanization, increasing disposable income, along with the widespread penetration of smartphones and the internet are accelerating the rise in e-commerce activities. Furthermore, the increasing preference for online shopping is compelling the need for a robust supply chain for on-time deliveries.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 6 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 15% |
| 2032 Value Projection: | USD 30 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 190 |
| Tables, Charts & Figures: | 433 |
| Segments covered: | Component, Organization Size, Deployment Model, Application, and Region |
| Growth Drivers: | |
| Pitfalls & Challenges: |
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Rising data security concerns may hamper the industry outlook
The mount in privacy concerns and data security issues may impede the adoption of supply chain analytics to some extent. The rising dependence on big data analytics has also led to a surge in the number of sophisticated privacy breaches, negatively influencing the supply chain analytics market dynamics. Therefore, organizations are turning to data masking solutions to prevent breaching incidents and protect customer identities. However, the growing integration of technologies such as IoT and AI for superior software features and enhanced security will complement the market.
Integration of AI and IoT in the retail sector to enhance supply chain analytics applications
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The supply chain analytics market from retail applications segment is predicted to register over 15% CAGR till 2032. The retail sector is undergoing significant transformation with the integration of technologies, such as IoT and AI. The rise in digital shopping and automation of retail operations will proliferate the demand for supply chain analytics solutions and services. The increasing population, urbanization, and digitization are also contributing to the upsurge in retail business across developed and developing countries.
The market share from the government & defense application segment will witness lucrative expansion during the projected timeline. Big data analytics is gaining substantial demand across government and defense applications, such as the management of multi-tiered supply chains and global supplier networks. Sophisticated supply chain analytics solutions are experiencing high demand due to the growing need for enhanced visibility, cost-saving, and spend aggregation across different operational setups.
Emergence of fourth industrial revolution to foster preference for supply chain analytics solutions
The solutions segment held more than 60% share of the supply chain analytics market in 2022. The ongoing digital transformation of the industrial sector is fostering a substantial need for cloud-based analytical solutions. Supply chain analytics solutions are gaining momentum for their actionable intelligence for enabling demand planning, inventory management, and route optimization. The growing need for real-time visibility across the supply chain for mitigating risks, preventing stockouts, and reducing procurement spending will fuel the market growth.
Supply chain analytics solutions further include manufacturing analytics, procurement analytics, logistics analytics, demand planning, inventory analytics, and others. The demand for manufacturing analytics is projected to pick significant pace with the rapid transition to cloud and IoT driven by the ingress of Industry 4.0. The emergence of disruptive technologies, such as edge computing, big data, and predictive analytics will also provide enterprises with actionable insights.
Rise in supply chain infrastructure investments by large enterprises to boost industry growth
Supply chain analytics market size from large enterprises segment will expand at 15% CAGR during the forecast timeline. Large enterprises often invest large amounts of money into resources and infrastructure due to robust capital backing and high output requirements. The increasing demand for high workflow efficiencies is forcing organizations to reinforce their supply chain infrastructures for ensuring a streamlined and uninterrupted supply of inventory. Furthermore, supply chain analytics solutions allow businesses to maximize productivity and avoid delays in production, and distribution losses. Several industry players are therefore introducing innovative solutions featuring multi-functional capabilities. For instance, in November 2022, Microsoft Corp. launched the Microsoft Supply Chain Platform for users to optimize their supply chain data estate investment safely.
Hefty SME fundings to complement the APAC market outlook
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Asia Pacific supply chain analytics market share is expected to grow at 20% CAGR through 2032, owing to the rapid influx of small and medium-sized enterprises (SMEs). Several countries in the region, such as China and India are creating a promising environment for SMEs with favorable incentives and hefty funding, further allowing the adoption of modern technologies. For instance, in November 2022, Self-Reliant India Fund (SRIF), backed by the Indian government announced that it has earmarked more than USD 614 million for the growth and development of small businesses. Similar investments encouraging businesses and enterprises to procure the latest technologies for improved output will favour the market expansion across APAC.
Product development efforts to foster the market expansion
Some of the leading companies in the global supply chain analytics market include Antuit.ai, Axway Inc., Bridgei2i, Capgemini SE, Blue Yonder Group, Inc., DataFactZ, IBM Corporation, Halo BI, Infor, Manhatten Associates, Logility, Inc., Oracle Corporation, Sage clarity systems, QlikTech International AB, SAP SE, Savi Technology, SAS Institutes Inc., Tableau Software LLC, TIBCO Software, and Voxware. These companies are launching more advanced and innovative products to attract customers and strengthen their business identity. For instance, in November 2022, 3SC Solutions launched SCAI, an intelligent platform allowing businesses to better manage their supply chains through improved efficient planning and execution.
Impact of the COVID-19 pandemic on the supply chain analytics industry
The COVID-19 pandemic increased the focus on technological interventions for strengthening the global supply chain. Due to heavy disruptions in global trade and supply-to-demand ratios, businesses worldwide turned to machine learning, real-time analysis, and algorithms for a steady recovery in the post-pandemic era. According to the 2022 Global State of Enterprise Analytics Report by MicroStrategy, 65% of global enterprises ramped up their spending on analytics in 2020 and implemented digitization initiatives. The growing emphasis on predictive analytics capabilities and cloud-based solutions will also complement the industry dynamics in the forthcoming period.
This supply chain analytics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments: Click here to Buy Section of this Report
Market, By component
- Solution
- Demand planning
- Procurement analytics
- Inventory analytics
- Manufacturing analytics
- Logistics analytics
- Others
- Service
- Professional service
- Managed service
Market, By Organization size
- Large Enterprise
- SMEs
Market, By Deployment model
- On-premise
- Cloud
Market, By Application
- Retail
- Manufacturing
- Transportation and logistics
- Healthcare
- Government & Defense
- Automotive
- Energy & Utilities
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
- Middle East & Africa
- South Africa
- UAE
- Israel
- Saudi Arabia
- Rest of Middle East & Africa
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