Ottawa, May 31, 2023 (GLOBE NEWSWIRE) -- As per Precedence Research, the global supply chain analytics market size will reach USD 38.78 billion by 2032. Supply chain analytics (SCA) is the practice of utilizing data and analytics to learn more about the operations and procedures of the supply chain. Real-time data access may be a game-changer when it comes to managing a supply chain. These analytics are used to discover areas where efficiency may be increased by gathering and analyzing data from each stage of the manufacturing and distribution process. This entails keeping track of everything, including workflow procedures, inventory management, financial investments, and the transportation and delivery of goods.
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The demand for greater operational and supply chain efficiency, the rapid expansion of business data across a range of sectors, including manufacturing, retail, and transportation, the influx of funding for government Big Data support initiatives, and the rise in the adoption of Big Data technologies are some of the major drivers of the global market for supply chain analytics.
Regional Snapshot
North America dominated the supply chain analytics market in 2022, the region is expected to maintain its dominance during the forecast period. The rising organizational development in e-commerce, healthcare, automation, and transportation, food, and beverages industries across the region is expected to propel the market’s growth in North America during the forecast period.
Asia Pacific is expected to hold a dominating share of the market in the upcoming period owing to the rising rate of industries. The increase in middle and large-scale organizations in this region and the rising prevalence of startups across the Asia-Pacific region will drive the demand for the supply chain analytics market. Increasing expenditure on Artificial intelligence across the region and rising of the cutting-edge technologies that can serve various industries.
The Middle East and Africa regions are showing steady growth in the supply chain analytics market. The increase in the economies in the region and the increase in the organizational need for the supply chain will increase the demand for the supply chain analytics market in these regions.
Report Highlights
- By solution, the sales and operation segment dominate the market with the highest revenue share in the supply chain analytics market in 2022. The requirement for cost and resource optimization is attributed to the overall growth of the segment.
- By Service, the professional service segment is expected to dominate the market in the forecast period. The increase in the growth of professional services is due to the requirement for data safety and assisting professional services with the latest technologies.
- By Deployment, the cloud segment is significantly increasing in the supply chain analytics market in the anticipated time period. The increase in the cloud segment is attributed to the increase in the adoption of IoT devices and large-scale customization of products and services in the organization.
- By Enterprise, the large enterprise held the largest market size in the supply chain analytics market in 2022. The demand increase is attributed to the increased demand for automation capabilities for automation resources and strong monitoring solutions.
- By End-User, the manufacturing segment is expected to dominate the market in the forecast period. The time availability of the product and providing real-time data across the value chain drive the growth of the market.
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Scope of this report
| Coverage | Details |
| Market Size in 2032 | USD 38.78 Billion |
| CAGR | 18% from 2023 to 2032 |
| North America Market Share | 36% in 2022 |
| Europe Market Share | 29% in 2022 |
| Sales and Operations Segments Share | 26% in 2022 |
| Key Players | Aera Technology, Birst, Inc., Genpact Limited, International Business Machines Corporation, Capgemini SA, Kinaxis, Lockheed Martin Corporation, Maersk Group, JDA Software Group, Inc., Manhattan Associates, Inc., and Others |
Market Dynamics
Drivers
Increase in the adoption of IoT
The continuous expansion of internet of things (IoT) in multiple organizations and rising utilization of social media/multimedia is observed to drive the growth of supply chain analytics market. The rising operations in the industries are expected to grow the data generated by humans and robots will continuously. According to the prediction for the future, there is a gadget that collects, analyzes, and exchanges this data worldwide. A large number of organizations adopt the technologies of big-data analytics to assemble their structured and unstructured databases. All the adoption will tend to the future demand of the supply chain analytics market.
Restraints
Interdepartmental disputes hamper the growth of supply chain analytics market
The Supply chain analytics manages the overall department of the organization like planning, purchasing, manufacturing, distribution, and information technology. The organization needs a strong workforce to handle interdepartmental disputes and resolve them because of this the profitability of the organization is hampered. It can be seen that organizations are giving more attention to information technology rather than the quality and safety of data. The profitability of the organization can be difficult to measure. The higher cost of installation will be the most limiting factor for the supply chain analytics market.
Opportunities
Supply chain analytics integrated by Industrial cloud platforms
Platforms as a service (PaaS), infrastructure as a service (IaaS), and software as a service (SaaS) are all combined into industrial cloud platforms with features tailored to vertical industry use cases. They accomplish it using flexible, composable platforms that are backed by a selection of bundled business capabilities that are industry-specific rather than as preset, singular, vertical SaaS solutions. As a result, they broaden technological innovation tools to also act as a business innovation tool and transform a cloud platform into a business platform, adding value beyond conventional cloud ways.
Challenges
High cost of installation and lower-skilled workforce
Acquisition of this software for supply chain analytics in the enterprise will be costly to acquire and maintain for the small-scale business. The use of the software and maintaining the supply chain analytics will require highly skilled and trained professionals and finding this professionally skilled labor force is difficult. Implementing supply chain analytics will be only implemented where the understanding of the business is fully clear and analyzed. Implementing supply chain analytics in the organization will require significant resources which can be a major challenge for small and medium businesses.
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- Cell and Gene Supply Chain Services Market - The global cell and gene supply chain services market size was valued at USD 1.3 billion in 2022 and is expanding around USD 3.5 billion by 2032 with a CAGR of 10.41% from 2023 to 2032.
Recent Development
- In April 2023, the global supply chain insights and risk analytics company Everstream announced its collaboration with BlueNode. BlueNode provides intermodal logistics data with AI-powered engines that streamline logistics and carbon emission reporting and measurement.
- In April 2023, Vestas the global leader in sustainable energy solutions, comes into a strategic collaboration with Everstream to minimize the risk exposure and increase sustainability in the global value chain.
Market Segmentation
By Solution
- Logistics Analytics
- Manufacturing Analytics
- Planning & Procurement
- Sales & Operations Analytics
- Visualization & Reporting
By Service
- Professional
- Support & Maintenance
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Large Enterprise
- Small & Medium Enterprises
By End-use
- Retail & Consumer Goods
- Healthcare
- Manufacturing
- Transportation
- Aerospace & Defense
- High Technology Products
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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