Supply Chain Analytics Market expands as businesses seek data-driven insights for supply chain optimization.

AUSTIN, TEXAS, UNITED STATES, June 19, 2024 /EINPresswire.com/ -- Market Scope and Overview

The Supply Chain Analytics Market, as per the SNS Insider report, reached a value of USD 8.02 billion in 2023. This market is projected to climb to a staggering USD 28.54 billion by 2031, reflecting a steady Compound Annual Growth Rate (CAGR) of 17.2% throughout the forecast period (2024-2031).

The Supply Chain Analytics market is a constantly changing ecosystem by innovation and the ever-growing volume of data generated across various industries. One of the key growth drivers is the integration of blockchain technology. Blockchain's secure and transparent nature helps optimize SCM performance by automating tasks related to inventory and warehouse management. This, in turn, strengthens an organization's IT infrastructure and analytical capabilities. Additionally, blockchain enhances efficiency by reducing disruptions faced by suppliers, manufacturers, and customers. It also improves business productivity and increases data transparency by predicting potential manufacturing and inventory risks. Furthermore, the increasing adoption of Artificial Intelligence (AI) and big data analytics empowers businesses to streamline manufacturing processes and improve demand forecasts. By implementing new SCM strategies, organizations can leverage big data for predictive maintenance of raw materials and enhance demand-driven operations by identifying potential issues within their business operations.

According to the State of European Supply Chains 2023 report, significant investments are expected in supply chain monitoring, tracking, and analytics technologies in the coming years. These investments, estimated at 68% and 37% for monitoring and tracking and analytics technologies respectively, aim to address the ongoing challenge of low labor availability in the region.

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Some of the Key Players Studied in this Report are:

➤ IBM
➤ Cloudera
➤ Software AG
➤ SAS Institute
➤ SAP
➤ MicroStrategy
➤ Tableau
➤ Qlik
➤ Logility
➤ Savi Technology
➤ Oracle
➤ Infor
➤ Antuit
➤ RELEX Solutions
➤ TIBCO
➤ TARGIT
➤ Voxware
➤ The AnyLogic Company
➤ Hum Industrial Technology
➤ SS Supply Chain Solutions
➤ Manhattan Associates
➤ Axway
➤ Datameer
➤ AIMMS
➤ Salesforce
➤ Zebra Technologies
➤ Dataiku
➤ DataFactZ
➤ Others

Recent Developments

➤ In June 2023: Jaguar Land Rover (JLR) partnered with Everstream Analytics, a provider of AI-powered supply chain mapping and risk analytics solutions. This collaboration leverages AI to resolve real-time supply chain challenges, ultimately improving customer experience.

➤ In May 2023: SAP SE joined forces with Microsoft Corporation to develop an AI-powered solution named SAP Business AI. This solution assists customers in expanding their logistics capabilities to proactively address future supply chain disruptions.

➤ In January 2023: SAS partnered with Project44, a supply chain visibility platform provider. This partnership aims to minimize disruptions impacting customer experience by providing real-time visibility into business operations.

Market Segmentation Analysis

➤ By Development Type: The cloud-based segment is anticipated to witness the highest CAGR due to its superior mobility and ease of use compared to on-premise solutions. Cloud-based solutions offer a cost-effective way to analyze and optimize supply chain performance, addressing various challenges faced by organizations.

➤ By Organization Size: Large enterprises currently dominate the market due to their increased spending on advanced technologies like AI and ML to bolster decision-making capabilities, the SME segment is expected to exhibit a significant growth rate. This growth can be attributed to the emergence of cost-effective and scalable analytics solutions specifically designed for SMEs, along with supportive government initiatives.

➤ By Solutions: The inventory analytics segment is projected to experience the fastest growth due to the ever-growing need for data analysis and management. Supply chain analytics solutions help businesses optimize inventory costs through smart demand sensing and enable efficient logistic operations. Procurement analytics, which offers accurate and timely insights for strategic decision-making based on procurement data, is also poised for significant.

➤ By Vertical: The retail & e-commerce segment leads the supply chain analytics market. The emergence of edge computing technologies, the widespread use of smartphones, and the integration of cloud technologies for improved inventory management and procurement functions are all significant drivers for this segment.

Market Segmentation and Sub-Segmentation Included Are:

By Component

➤ Software
➤ Services

By Deployment Mode

➤ Cloud
➤ On-premises

By Solutions

➤ Includes Demand Analysis and Forecasting
➤ Supplier Performance Analytics
➤ Spend and Procurement Analytics
➤ Inventory Analytics
➤ Distribution Analytics

By Organization Size

➤ Large Enterprises
➤ SMEs

By Services

➤ Professional Services
➤ Managed Services

By Vertical

➤ Automotive
➤ Retail & Consumer Goods
➤ F&B Manufacturing
➤ Machinery & Industrial Equipment Manufacturing
➤ Pharmaceutical
➤ Government
➤ Energy & Utilities

Regional Analysis

This dominance can be from a well-established ecosystem of analytics companies and a surge in digitizing supply chain operations post-pandemic. Additionally, the presence of numerous large logistics and manufacturing players in the US and Canada fuels market demand. However, the Asia Pacific region is breathing down North America is the fastest growing, This rapid growth is driven by a rise in AI investments in countries like China and India, along with a growing number of SMEs across various industries adopting supply chain analytics tools to enhance performance and build robust business models.

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Key Takeaways from the Supply Chain Analytics Market Study

➤ The integration of AI, big data, and blockchain is transforming the way businesses manage their supply chains, leading to increased efficiency, transparency, and cost-effectiveness.

➤ Businesses of all sizes are increasingly recognizing the benefits of cloud-based analytics solutions due to their ease of use, scalability, and affordability.

➤ Supply chain analytics empowers businesses to leverage data for informed decision-making, optimizing processes, streamlining operations, and enhancing customer satisfaction.

Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Supply Chain Analytics Market Segmentation, By Component
8.1. Software
8.2. Services

9. Supply Chain Analytics Market Segmentation, By Deployment Mode
9.1. Cloud
9.2. On-premises

10. Supply Chain Analytics Market Segmentation, By Solutions
10.1. Includes Demand Analysis and Forecasting
10.2. Supplier Performance Analytics
10.3. Spend and Procurement Analytics
10.4. Inventory Analytics
10.5. Distribution Analytics

11. Supply Chain Analytics Market Segmentation, By Organization Size
11.1. Large Enterprises
11.2. SMEs

12. Supply Chain Analytics Market Segmentation, By Services
12.1. Professional Services
12.2. Managed Services

13. Supply Chain Analytics Market Segmentation, By Vertical
13.1. Automotive
13.2. Retail & Consumer Goods
13.3. F&B Manufacturing
13.4. Machinery & Industrial Equipment Manufacturing
13.5. Pharmaceutical
13.6. Government
13.7. Energy & Utilities

14. Regional Analysis
14.1. Introduction
14.2. North America
14.3. Europe
14.4. Asia-Pacific
14.5. The Middle East & Africa
14.6. Latin America

15. Company Profile

16. Competitive Landscape
16.1. Competitive Benchmarking
16.2. Market Share Analysis
16.3. Recent Developments

17. USE Cases and Best Practices

18. Conclusion

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