Global Supply Chain Analytics Market
Global Supply Chain Analytics Market Size More Than Doubles to Reach USD 49.5 Billion by 2029
Published | 07 August 2023
Global supply chain analytics market is flourishing because of the continuous high growth in data volumes and increasing technological improvisations.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global supply chain analytics market size at USD 23.27 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global supply chain analytics market size to grow at a significant CAGR of 13.4% reaching a value of USD 49.47 billion by 2029. Major growth drivers for the global supply chain analytics market include an increasing adoption of cloud-based analytics platforms, the integration of advanced technologies like AI, ML, and IoT in supply chain operations, and a growing emphasis on sustainability and risk management. Manufacturing, retail, healthcare, transportation, and consumer goods industries are actively adopting supply chain analytics solutions to gain a competitive edge, improve customer service, and drive business growth. Technological advancements in big data analytics, AI, ML, and cloud computing have enhanced the capabilities of supply chain analytics, enabling organizations to process vast amounts of data, uncover patterns, and gain actionable insights. The availability of scalable and cost-effective cloud-based analytics platforms has made supply chain analytics more accessible to businesses of all sizes. Also, companies are increasingly leveraging analytics tools and technologies to optimize supply chain processes, improve operational efficiency, and reduce costs. However, limited number of skilled personnel, data privacy concerns, and increased cyber threats are anticipated to restrain the overall market growth during the forecast period.
Global Supply Chain Analytics Market – Overview
The global supply chain analytics market refers to the market for analytics solutions and tools used to analyze and derive insights from supply chain data. Supply chain analytics involves collecting, processing, and interpreting data from various sources within the supply chain, such as inventory levels, demand patterns, transportation data, and supplier performance. These analytics solutions utilize advanced technologies such as big data analytics, artificial intelligence, machine learning, and data visualization to provide organizations with actionable insights and optimize their supply chain operations. The global supply chain analytics market encompasses software applications, platforms, and services that enable businesses to improve operational efficiency, make data-driven decisions, enhance inventory management, optimize logistics, and enhance overall supply chain performance.
Impact of COVID-19 on Global Supply Chain Analytics Market
COVID-19 pandemic adversely affected the global supply chain analytics market. The disruptions caused by the pandemic, such as lockdowns, travel restrictions, and supply chain interruptions, have highlighted the need for resilient and agile supply chain operations. As a result, businesses recognized the value of supply chain analytics in managing risks, optimizing inventory, and enhancing operational efficiency. The demand for real-time visibility, predictive analytics, and scenario modeling increased, driving the adoption of supply chain analytics solutions. However, the economic uncertainties and budget constraints resulting from the pandemic also slowed down investments in new technologies, impacting the overall growth of the market.
Global Supply Chain Analytics Market – By Organization Size
Based on organization size, the global supply chain analytics market is split into Large Enterprise and Small and Medium-sized Enterprises (SMEs) segments. The large enterprise segment held a higher share in the global supply chain analytics market in 2022. The large enterprises typically have complex and extensive supply chains, involving multiple suppliers, distribution channels, and global operations. Supply chain analytics enables them to gain visibility and insights into these intricate networks, allowing for better decision-making and optimization of resources. Notably, large enterprises have the financial resources to invest in advanced analytics solutions and technologies, giving them a competitive advantage in supply chain management. Also, the scalability and customization capabilities of supply chain analytics solutions align well with the diverse and evolving needs of large enterprises, making them a natural fit for this segment.
Major players operating in the global supply chain analytics market include Manhattan Associates Inc., Tableau Software, Infor Inc., Qlik technologies, Microstrategy, International Business Machines (IBM) Corporation, Oracle Corporation, Kinaxis, SAS Institute Inc., SAP SE, Accenture PLC, Aera Technology, Capgemini SA, Genpact Limited, and TIBCO Software Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Supply Chain Analytics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Supply Chain Analytics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Supply Chain Analytics Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Component (Solution, Service); By Deployment Mode (Cloud, On-premises); By Organization Size (Large Enterprise, Small and Medium-sized Enterprises (SMEs)); By End User (Retail & Consumer Goods, Healthcare, Manufacturing, Transportation, Aerospace & Defense, High Technology Products); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: August 2023
The growing high data volumes and increasing technological improvisations are projected to propel the expansion of the global supply chain analytics market during the forecast period between 2023 and 2029.
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