Supply Chain Analytics Market to Reach a Valuation of USD 32.18 Bn by 2030 at a Staggering CAGR of 20.32%, Fueled by Surge in Business Data Volume Across Diverse Sectors, Estimates Kings Research
DUBAI, UAE, Sept. 21, 2023 /PRNewswire/ -- According to a recent report published by Kings Research, in 2022, the global Supply Chain Analytics Market was worth USD 5.96 billion and is foreseen to reach USD 32.18 billion in revenue by 2030, depicting a 20.32% CAGR between 2023 and 2030. The surge in business data volume across diverse sectors has emerged as a pivotal catalyst driving the expansion of supply chain analytics.
As an increasing number of organizations digitize their operations, data collection has become ubiquitous throughout the entire supply chain process, resulting in a wealth of data available for analysis, fostering insights, and enhancing overall performance. This data encompasses information from suppliers, customers, logistics providers, and a myriad of other sources. Moreover, with the rapid integration of cutting-edge technologies such as IoT and AI, the supply chain's data generation is poised to perpetuate its exponential growth.
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The key strategy adopted by prominent companies in the global supply chain analytics market for
expanding their customer base revolves around prioritizing product launches. As part of their efforts to expand their business globally and increase their competitiveness, companies are utilizing various strategic measures, such as acquisitions, mergers, partnerships, product introductions, and collaborations.
For instance, in April 2023, SAP SE has recently announced significant developments to supply chain solutions, which provide organizations with data-driven insights into their supply chain operations in order to improve their sustainability and resilience. It incorporates powerful artificial intelligence (AI) into SAP digital manufacturing, provides 3D product and operation views, adheres to sustainable packaging guidelines, and has integrated powerful artificial intelligence (AI) into the SAP digital manufacturing solution.
Prominent companies profiled in the supply chain analytics market include:
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Trending Now: Maersk Opens Innovation Center to Accelerate Supply Chain Innovation
Maersk, the world's largest container shipping company, opened a new innovation center in Copenhagen, Denmark in May 2023. The center is called the Maersk Innovation Center and is designed to accelerate supply chain innovation at an enterprise level. The Maersk Innovation Center will concentrate on four crucial areas to speed up supply chain innovation: sustainability, digitalization, collaboration, and open innovation.
The institute will investigate strategies for improving supply networks' sustainability, such as cutting waste and emissions. It will also look into how to leverage digital technology to increase supply networks' effectiveness and transparency. To work together on cutting-edge technologies, the center will assemble partners from all points throughout the supply chain. Additionally, it will analyze fresh perspectives and methods and will promote research and education.
The Global Supply Chain Analytics Market is segmented as:
Availability of Software Solutions Drives Supply Chain Analytics Market Expansion
By component, the solution segment is anticipated to continue its dominance, registering a valuation of USD 24.27 billion by 2030. This segmental growth is due to the widespread availability of software solutions designed to address challenges related to supply chain management. These software solutions can be used by businesses to gain knowledge, improve decision-making, and enhance supply chain efficiency.
Increased demand for supply chain analytics software, combined with the development of new technologies and methodologies to meet the unique requirements of various industries and organizations, has led to the development of these solutions for increasing efficiency and lowering costs. The market for supply chain analytics is anticipated to expand significantly, largely as a result of the widespread adoption of software solutions.
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Rising Adoption of Cloud-based Solutions to Empower Businesses
By deployment, the cloud-based segment is estimated to lead the global supply chain analytics market with a valuation of USD 27.07 billion by 2030. Cloud-based supply chain analytics solutions provide various benefits, such as enhanced precision and the capacity to optimize supply chain performance. Consequently, industries spanning electronic production to logistics are witnessing a rise in the adoption of these solutions. SAP, for instance, offers a suite of cloud-based supply chain analytics solutions, including SAP Integrated Business Planning for Supply Chain and SAP Business Network for Logistics. These tools empower businesses to attain full end-to-end visibility and real-time tracking across the network, spanning manufacturing to the end consumer.
The retail sector and the application of supply chain analytics have been significantly impacted by the combination of AI and IoT technologies. Retailers are utilizing these technologies to enhance every aspect of their supply chains, from purchasing to selling. Businesses operating in the retail industry can gain significant knowledge about supply chain operations, optimize performance, and provide wider access to insights based on data analysis by utilizing the capabilities of AI and IoT. Over time, this strategy may help to further streamline operations, boost efficacy, and bolster profitability. The transformation of the retail industry caused by the development of online shopping has also given rise to new supply chain analytics tools that are specially designed for e-commerce companies.
Retailers now have a wealth of opportunities to organize their supply chains and promote sustainable outcomes due to these developments. Retailers can make sure they are well-equipped to handle the needs of the expanding e-commerce sector by embracing cutting-edge technologies and putting the best practices into effect.
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Mounting Need for Operational Streamlining in North America to Support Supply Chain Analytics Market Proliferation
North America dominated the global supply chain analytics industry and is anticipated to retain its position over the review period, with a valuation of USD 10.69 billion by 2030. This dominance can be attributed to the accelerating need for operational streamlining, cost reduction, and supply chain optimization, prompting widespread adoption of AI and IoT technologies. Healthcare and retail have especially benefited from these innovations.
The retail industry, driven by tech giants and the boom of big data, is harnessing supply chain analytics to gain profound insights, enhance operational efficiency, and bolster profitability. Meanwhile, pharmaceutical and healthcare firms are grappling with the challenges posed by inventory surges, the global supply chain disruptions caused by the COVID-19 pandemic, and the growing adoption of supply chain management solutions. Overall, the north america supply chain analytics market is set to observe continual expansion, with the United States playing a pivotal role in this upward trajectory.
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Key Points from TOC:
Chapter 1 Introduction of The Global Supply Chain Analytics Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Supply Chain Analytics Market Outlook
4.1 Market Evolution
4.3 Market Dynamics
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Supply Chain Analytics Market, By Component
Chapter 7 Global Supply Chain Analytics Market, By Deployment
Chapter 8 Global Supply Chain Analytics Market, By Vertical
Chapter 9 Global Supply Chain Analytics Market, By Geography
Chapter 10 North America
Chapter 11 Europe
Chapter 12 Asia Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Supply Chain Analytics Market Competitive Landscape
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter 16 Company Profiles
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 SAP SE
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 IBM Corporation
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 SAS Institute Inc.
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 MICROSTRATEGY INCORPORATED
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
Browse Complete TOC: https://www.kingsresearch.com/toc/supply-chain-analytics-market-107
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