Market Synopsis
The availability of various supply chain analytics software with multiple features can boost the supply chain analytics market. Market Research future (MRFR), in its latest “Global Market for Supply Chain Analytics Market” states different factors that can impact the growth of the market. The world supply chain analytics market can surge at 17.21% CAGR across the forecast period (2020 to 2030). By 2030, the supply chain analytics market can value at USD 16.82 Billion by 2030. The increase in the generation of data by enterprises can increase consumer awareness and thus, benefit the Supply Chain Analytics Market Forecast. Several industrialists and experts’ state that the integration of artificial intelligence in supply chain analytics solutions could result in an effective growth strategy that can predict all possible outcomes, thus offer a robust action plan to hand inventory. The integration can add a competitive advantage to numerous supply chain analytics dealers. However, increase in cases of data breach in both privacy and public cloud deployments and its monetary constraints can restraint the market growth.
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Market Segment
The supply chain analytics world market study is based on service, industry vertical, deployment, solution, and service.
The service-based segments of the market are support, integration and deployment, maintenance, and consulting. The solution-based segments of the market are sales and operations planning, supply chain planning and procurement, transportation and logistics analytics, manufacturing analytics, and visualization and reporting tools. The sales and operation planning segment can lead the market. It is anticipated to continue be at the forefront across the forecast period.
The deployment- based segments of the market are cloud deployment and on premise deployment. The deployment model segment can gain high stake due to better security and pricing. In case of premise deployment, its high reliability is considered for different solutions. In addition, the better suitability and pricing of cloud model that aid analytics forecast demand for future can support the expansion of the market.
The industry vertical based segments of the market are healthcare, retail, automotive and transportation, manufacturing, aerospace & defense, and others.
The global supply chain analytics market witnesses rapid growth. Sustainability in supply chains offers significant advantages, adapting to support sustainability and protect the planet. With recent covid-led crises, supply chain has garnered much attention due to disturbed consumer goods supplies particularly, personal care products and personal protective equipment.
With the rising demand for maintaining sustainable supply chains, the market is projected to witness a significant revenue rise. According to Market Research Future (MRFR), the global supply chain analytics market would reach exponential heights by 2027, registering a phenomenal CAGR during the forecast period (2020-2027).
Moreover, the spurring rise in the retail market and growing focus on customer satisfaction needs and adoption of technologies are major supply chain analytics market trends. Advances in analytical capabilities and supply chain integration with artificial intelligence provide advantages, such as reduced cost fluctuations and improved sourcing and logistics activities.
Additionally, increasing uptake of IoT platforms that help organizations enhance their business operations increases the supply chain analytics market size. With the growing adoption of supply chain analytics in the rising numbers of BFSI and IT & telecom companies, the market has a positive outlook in the years to come. Similarly, supply chain intelligence and emergency response management technology upgrades foster supply chain analytics market growth.
On the other hand, the connected digital space and the data gathered along with it and data privacy issues associated with public cloud deployments are major factors projected to impede the market growth. Also, monetary constraints among enterprises can restrain market growth.
Global Supply Chain Analytics Market – Competitive Analysis
Numerous players form a competitive landscape in the supply chain analytics market. These players adopt aggressive strategic initiatives such as innovation, mergers & acquisitions, and brand reinforcement. They continuously launch analytics and services in developing economies to take advantage of the economic growth in these regions.
Major Players:
Players active in the global supply chain analytics market include MicroStrategy, Inc., IBM Corporation, Oracle Corporation, SAP SE, Tableau Software, Inc., Accenture PLC, Manhattan Associates Inc., Genpact, SAS Institute Inc., and JDA Software Group, Inc., among others.
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Supply Chain Analytics Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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