Pune, India, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The global supply chain risk management market size is set to grow at an impressive rate owing to the increasing necessity for the decentralization of the global supply chain amid COVID-19, observes Fortune Business Insights™ in an upcoming report, titled, Supply Chain Risk Management Market Forecast, 2022-2029.” The demand for SCRM solutions is increasing amid the popular realization that no business is risk free. They have been utilized among industries as a provision against various risk factors including global trade wars, raw material shortages, rapidly changing technologies, safety recalls, and others.
Industry Developments-
Tokyo Shoko Research, Ltd., a Japan-based credit report agency, signed an agreement with Ariba Inc. to empower its supply risk mitigation platform. The agreement will help Ariba to augment its SAP supplier risk solution by accessing the data of 8.4 million Japanese companies.
Avetta, LLC launched its supply chain risk management platform, which is estimated to improve the safety and compliance of clients by offering customized analytical dashboards
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Businesses across the world are seeking recovery due to the growing challenges amid the COVID-19 pandemic, such as restrictions on working capacity and partial lockdowns. The complete shutdown of production units worldwide has negatively affected the global supply chain network, due to which, various projects have been delayed. At Fortune Business Insights, we are delivering comprehensive market reports that will help you find solutions to various challenges that have occurred due to the crisis.
Drivers & Restraints-
Increasing Requirement for Decentralization of Global Supply Chain Risk Management Market
to Drive Growth
China being the manufacturing factory of the world, the COVID-19 outbreak in the country has severely affected the global supply chain. Prominent multinational enterprises are focusing on decentralizing the supply chain by shifting their production units from China to other parts of the world. For instance, according to Business Today, in August 2020, assembly partners of major companies, such as Samsung and Apple, planned on shifting their manufacturing units to India. This is estimated to propel the demand for supply chain risk management market across the globe.
In addition, rising consequences from the trade war between the U.S. and China are expected to further increase the number of enterprises shifting their manufacturing units out of China, further propelling the adoption of SCRM globally. These factors enhancing the global demand are anticipated to drive the growth of the global supply chain risk management market. However, the lack of awareness among companies regarding SCRM is projected to restrain growth.
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Regional Insights-
Increasing Adoption of SCRM Solutions in U.S. to Aid Growth in North America
North America is estimated to showcase positive growth in the global supply chain risk management market. Various departments of the government in the U.S. are increasingly adopting SCRM solutions, which are expected to drive their demand in the region. For instance, the Cyber Security and Infrastructure Security Agency (CISA) is coming together with the government and industry partners to make SCRM solutions an integrated aspect of cybersecurity.
The market in Asia Pacific is set to experience significant growth in the forecast timeframe. Developing countries including India, Australia, and Singapore are focusing on establishing robust supply chain networks across the globe, which is estimated to drive the growth of the supply chain risk management in the region.
Market Segmentation:
| Segmentation | By Component
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By Risk Type
| |
By Industry
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By Geography
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Competitive Landscape-
Offering Custom Solutions to Help Key Players Expand their Businesses Internationally
Key players operating in the global supply chain risk management market are offering industry specific and custom risk management solutions in order to expand their businesses worldwide. For instance, in February 2019, BROWZ LLC and Avetta, LLC collaborated to provide SCRM solutions to their customers through the Software as a Service (SaaS) platform.
Highlights of the Report:
The report provides a detailed evaluation of the market size by highlighting information on different aspects including drivers, restraints, opportunities, and threats. It includes a list of companies and a detailed analysis of their financial positions, product portfolios, and growth strategies. In addition, the core competencies of key players and their market share to anticipate the degree of competition were thoroughly studied.
Companies Profiled in Supply Chain Risk Management Market
- Ariba Inc.
- Cura Software Solutions
- GEP
- LogicManager, Inc.
- Marsh B.V.
- MetricStream Inc.
- DHL International GmbH
- CAMELOT Management Consultants AG
- The Anylogic Company
- Coupa Software Inc.
- Others
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