Supply Chain Analytics Market Worth $22.46 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, March 22, 2022 /PRNewswire/ -- The global supply chain analytics market size is expected to reach USD 22.46 billion by 2030, registering a CAGR of 17.6% from 2022 to 2030, according to a new study by Grand View Research, Inc. Supply chain analytics is becoming popular as the demand for managing vast volumes of company data and its insights for strategic applications grows. As the demand for automation technologies and investment from technology developers grows, so does the demand for cognitive computing and Artificial Intelligence (AI). The growing awareness among businesses about the advantages of Supply Chain Analytics (SCA) in terms of improved visibility across the whole supply chain is fueling the demand for analytics solutions.
The increased availability of cloud-based SCA solutions has triggered their demand among small & medium enterprises owing to benefits such as easy deployment, shorter implementation window, effective use of IT resources, and flexibility & mobility offered by these solutions. Another notable trend in the market is the increased demand for risk analytics solutions across all industries. Risk analytics solutions address multiple issues associated with the supply chain by analyzing scenario and sensitivity, stochastic optimization, and risk mitigation.
Key Insights & Findings from the report:
Request a free sample copy or view report summary: "Supply Chain Analytics Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Supply Chain Analytics Market Growth & Trends
SCA solutions enable enterprises to achive growth, enhance profitability, and increase market share by utilizing the derived insights in making strategic decisions. Improved visibility across the supply chain can help organizations enhance sustainability, reduce inventory cost, and accelerate the time-to-market for products in the long run. Factors such as shortening product life cycles, low visibility in traditional supply chains, ineffective supplier networks, elevated warehousing costs, redundant forecasts, and fluctuating customer demands necessitate supply chain optimization, thereby driving the growth of the market.
The outbreak of the COVID-19 pandemic is expected to have an adverse short-term impact on the market. The pandemic has compelled several manufacturing companies to temporarily halt manufacturing operations to comply with the new government regulations. Revenue streams have been directly affected due to the pandemic, as supply chain and trade disruptions have adversely affected the overall operations. However, for supply chain management technology vendors, the crisis is expected to provide a significant opportunity to increase their revenue shares, by offering advanced technology-based supply chain solutions. Customer enterprises across the globe need to identify how supply chain analytics solutions can better prepare them for demand fluctuations, challenging conditions, and macroeconomic instability post the crisis.
Improved effectiveness of business outcomes and cost-effectiveness of supply chain management resulting from the adoption of supply chain analytics is also expected to encourage the adoption of supply chain analytics solutions in several end-use applications. The demand is expected to remain robust in retail and consumer products, healthcare, and manufacturing industries. Furthermore, the capacity of the market to offer effective and efficient administration of end-to-end business processes is likely to drive its expansion over the forecast period.
Supply Chain Analytics Market Segmentation
Grand View Research has segmented the global supply chain analytics market based on solution, service, deployment, enterprise size, end use, and region:
Supply Chain Analytics Solution Outlook (Revenue, USD Million, 2017 - 2030)
Supply Chain Analytics Service Outlook (Revenue, USD Million, 2017 - 2030)
Supply Chain Analytics Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Supply Chain Analytics Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
Supply Chain Analytics End-use Outlook (Revenue, USD Million, 2017 - 2030)
Supply Chain Analytics Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in the Supply Chain Analytics Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.