According to market research report "SupplyChain Analytics Market by Component, Software (Supplier Performance Analytics,Demand Analysis and Forecasting, and Inventory Analytics), Services, DeploymentModel, Organization Size, Industry Vertical, and Region - Global Forecast to2025", the Supply ChainAnalytics Market size is expected to grow from USD 3.5 billion in 2020 to USD8.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.8% duringthe forecast period.
The key factors driving the supply chain industry includeincreasing volume and velocity of data, need to enhance operation and supplychain efficiencies, and the advent of AI and machine learning into supply chainmanagement.
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Demand Analysis and Forecasting segment constituted the largest market shareduring the forecast period
The demand analysis and forecasting software is one of the majorsoftware in the supply chain analytics market that helps companies forecast thefuture demands for a product through historical data analysis. Demandforecasting helps the company manage inventory levels during peaks and troughs,thereby ensuring the products are not overstocked or understocked. The demandanalysis and forecasting solution facilitate businesses to boost their servicelevels, shorten cycle times, reduce inventory investment, and minimizeobsolescence.
Services segment to grow at a higher CAGR during the forecastperiod
In component, the services segment is expected to grow at ahigher CAGR during the forecast period. Professional services and managedservices help enterprises in building successful client relationships bycontinuously supporting them through business tenure. Furthermore, theseservices benefit enterprises by maximizing resource usage, improving projectexecution, and streamlining business operations.
Automotive industry vertical to garner the largest market sizeduring the forecast period
The automotive supply chain industry has seen considerablegrowth in the past few decades, due to the shifting market conditions,liberalization, cost pressure, and infusion of trending technologies, such asRadio Frequency Identification (RFID) sensors, IoT, built-in test equipment,entertainment systems, and Global Positioning System (GPS) trackers.
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North America to account for the largest market size during theforecast period
North America is expected to account for the largest market sizein the overall supply chain analytics market during the forecast period. Thisregion houses some of the major vendors of data analytics specialized inoffering supply chain analytics solutions, such as SAS Institute, IBM, Oracle,and Tableau. These players have their headquarters, as well as direct salesoffices in the region. Major retail chains across the US and Canada havealready embraced analytics in its supply chain processes and are gainingnumerous benefits from it.
The Supply ChainAnalytics Market comprises major solution providers, such as SAP (Germany),Oracle (US), IBM (US), SAS Institute (US), Software AG (Germany), MicroStrategy(US), Tableau (US), Qlik (US), TIBCO (US), Cloudera (US), Logility (US), SaviTechnology (US), Infor (US), RELEX Solutions (Finland), TARGIT (Denmark),Voxware (US), The AnyLogic Company(US), Antuit (US), Axway (US), AIMMS(Netherlands), BRIDGEi2i (India), Domo (US), Datameer (US), 1010data(US),Rosslyn Analytics(UK), Blue Yonder (US), Manhattan Associates (US), andDataFactZ (US).
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