Supply Chain Analytics Market Will Reach USD 7.81 Billion By 2024, Globally: Zion Market Research

According to the report, global supply chain analytics market was valued at approximately USD 3.16 billion in 2017 and is expected to reach approximately USD 7.81 billion by 2024, growing at a CAGR of around 13.80% between 2018 and 2024.

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New York, NY, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Supply Chain Analytics Market By Solution (Logistics Analytics, Manufacturing Analytics, Sales & Operations Analytics, Supply Chain Planning And Procurement, And Visualization & Reporting), By End-user (Transportation & Logistics, Manufacturing, Retail & Consumer Goods, Healthcare, Aerospace & Defense, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024”. According to the report, global supply chain analytics market was valued at approximately USD 3.16 billion in 2017 and is expected to reach approximately USD 7.81 billion by 2024, growing at a CAGR of around 13.80% between 2018 and 2024.

For achieving the competitive advantage, the supply chain can be a great place to use analytics tools, because of the complex nature of supply chain. Supply chain plays a prominent role in the company’s profitability and cost structure. Supply chain analytics helps in improving operational efficiency and facilitating data-driven decisions at the strategy and operational level. By using predictive analytics companies are presenting their best outcomes based on huge historical data and live updated data from the cloud that are offering more data than before. 

Browse through 29 Tables & 29 Figures spread over 169 Pages and in-depth TOC on “Global Supply Chain Analytics Market Size 2017: By Solution, Components, Industry Growth Analysis and Forecast, 2024”.

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Increasing the necessity to improve customer satisfaction, lower operational costs, improve productivity, and achieve sustainable business growth through the optimized supply chain is driving the supply chain analytics market growth. The capability of supply chain analytics tools to increase automation efficiency and artificial intelligence for driving proactive solutions is further expected to contribute to the supply chain analytics market growth. Factors, such as low visibility of the real-time data and lack of awareness, may hinder the supply chain analytics market growth. Nonetheless, supply chain analytics helps companies in managing inventory, raw material, and work in progress that satisfy more customers without increasing the stock level. Moreover, increasing the adoption rate of mobile-based solutions is expected to fuel the supply chain analytics market growth in coming years. However, low visibility of real-time data traffic and less awareness about supply chain analytics solutions may hinder the growth of supply chain analytics market across the globe.  

Supply chain analytics market is segmented based on the solution, end-user, and region. Solution segment included in this market are logistics analytics, manufacturing analytics, sales & operations analytics, supply chain planning and procurement, and visualization & reporting. The end-user segment includes transportation & logistics, manufacturing, retail & consumer goods, healthcare, aerospace & defense, and others. Among end-users, the manufacturing segment holds the largest share in the global supply chain analytics market. Growing demand for product availability and timely delivery has been pressurizing manufacturing companies to meet the increasing demand. 

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North America is anticipated to have the largest market share in the global supply chain analytics market. This is primarily due to increasing adoption of digital supply network (DSN) across the region. Many American organizations are using DSN to achieve their business objectives. DSNs integrate data from many locations and sources to compel the physical act of manufacturing and distribution. DSNs make supply chains to be an integral part of decision-making and strategic planning. Presence of a large number of supply chain analytics solution providers in North America has further expected to drive supply chain analytics market in this region. SAS Institute, Inc., Genpact Ltd., IBM Corporation, etc are some of the leading supply chain analytics service providers in North America.

Europe region is witnessing moderate growth in the global supply chain analytics market due to growing adoption of manufacturing analytics in process industries. Process industries generate a huge amount of data, but many companies have failed to make effective use of this data. With the increasing trend of cheaper computational power and rapid advancements in analytics, process manufacturers can gather information from different data sources. They can also take benefits of machine learning and visualization platforms to discover new ways of process optimization from raw material sourcing to the sale of their finished products.

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The Asia Pacific is expected to have the highest growth rate in the global supply chain analytics market. The Asia Pacific is the fastest growing region in the e-commerce and logistics landscape. The rise of the middle-class population, increasing investments of new e-commerce players, deeper mobile and internet penetration, and increasing logistics option in the ecosystem have contributed to the growth of logistics and e-commerce industry in this region. Furthermore, Singapore is likely to have larger growth in the e-commerce industry in the Asia Pacific due to the highly developed infrastructure, international connection, and technological advancements.

Latin America is expected to witness moderate growth in the supply chain analytics market during the forecast period. Increasing preference towards customer satisfaction has led the retailers in Latin America to adopt supply chain analytics solutions. Furthermore, rising trend of collaboration and partnership between private companies and government organizations in South Africa for effective optimization of supply chain and cost reduction is driving the growth of supply chain analytics market in the Middle East and Africa.

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Major players operating in supply chain analytics market are IBM Corporation, SAS Institute Inc., SAP SE, Kinaxis Inc., MicroStrategy Inc., Oracle Corporation, Sage Clarity Systems, Birst, Inc., Genpact Ltd., and Capgemini Group, among others. 

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The report segments the supply chain analytics market into:

Global Supply Chain Analytics Market: Solution Segment Analysis 

  • Logistics Analytics
  • Manufacturing Analytics
  • Sales & Operations Analytics
  • Supply Chain Planning and Procurement
  • Visualization & Reporting

Global Supply Chain Analytics Market: End-user Segment Analysis 

  • Transportation & Logistics
  • Manufacturing
  • Retail & Consumer Goods
  • Healthcare
  • Aerospace & Defense
  • Others

Global Supply Chain Analytics Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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