Pune, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Supply Chain Analytics Market Analysis:
The rising demand for supply chain analytics solutions stems from the need for enhanced visibility and efficiency within supply chains. Companies are increasingly adopting these technologies to streamline their operations, cut costs, and improve customer satisfaction. Bridging together supply chain and analytics enable businesses to work more efficiently with a clear view of orders, deliveries, and stocks. This visibility enables organizations to respond quickly when demand and supply change, optimizing inventory management and minimizing excess stock. Advanced analytics tools have become more relevant with the rising complexity of global supply chains and evolving consumer needs. Industries such as manufacturing, retail and others who have large set of data that has needs better management are using these tools to help them make informed decisions. In June 2023, for example,-Jaguar Land Rover (JLR) signed up with Everstream Analytics to improve their supply chain management.
“As per the SNS Insider Research, The Supply Chain Analytics Market size was valued at US$ 8.02 billion in 2023 and is anticipated to reach US$ 33.45 billion by 2032, growing at a robust CAGR of 17.2% from 2024 to 2032.”
According to a 2024 National Retail Federation (NRF) report, US retailers leveraging supply chain analytics have realized an average return on investment (ROI) of around 25%. Additionally, a U.S. Data Management Institute report noted a 28% increase in data managed by these systems, reflecting the growing intricacy of supply chains. The widespread adoption of mobile-based solutions is further driving market growth. However, challenges such as unethical practices and cyber threats present risks, underscoring the need for robust security measures.
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Major Players Analysis Listed in this Report are:
The key players 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, and other players
Supply Chain Analytics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 8.02 Bn |
| Market Size by 2032 | US$ 33.45 Bn |
| CAGR | CAGR of 17.2% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The expansion of e-commerce increases the need for efficient supply chain management and data optimization. • Cloud platforms offer advanced analytics with lower upfront costs, driving widespread adoption. |
Recent Developments
- SAS's partnership with Project44 in January 2023 focused on providing real-time visibility to reduce disruptions and enhance customer experience.
- 3SC's launch of the SCAI platform in November 2022 aims to synchronize supply chain operations and boost business efficiency.
- The collaboration between Project44 and SAS in January 2023 combined extensive real-time transportation data with advanced supply chain planning capabilities, further improving global supply chain visibility and accuracy.
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Segment Analysis
By Service
In 2023, the professional services segment accounted for more than 59% of market share. This dominance is due to the critical role of professional services in ensuring compatibility between new systems and existing ones, which helps prevent data loss and theft. The increasing demand for secure and effective analysis of critical data drives the need for skilled professionals in this segment. However, the scarcity of skilled professionals poses a challenge, as organizations require experts to interpret trends and make informed decisions.
By Deployment
Cloud segment has accounted for over 60% market share in 2023. This is mainly due to the emergence of IoT devices and heavier reliance on data management in cloud platforms. Cloud deployment ensures improved customisation, scalability and flexibility for organisations. This drives the growth of this segment by using a solution to enhance data safety & risk analysis and other benefits executed through supply chain analytics solutions offered in cloud.
Supply Chain Analytics Market Key Segmentation:
By Solution
- Logistics Analytics
- Manufacturing Analytics
- Sales & Operations Analytics
- Planning & Procurement
- Visualization & Reporting
By Enterprise Size
- Large Enterprise
- Small & Medium Enterprises
By Service
- Professional
- Support & Maintenance
By Deployment
- Cloud
- On-premise
By End-use
- Retail & Consumer Goods
- Healthcare
- Aerospace & Defence
- Manufacturing
- Transportation
- High Technology Products
- Others
Regional Development
In 2023, North America accounted for 35% of the global supply chain analytics market. The region's focus on visualizing operational data is driven by the complexity of its industrial processes. States such as California, New York, and Texas are at the forefront of adopting advanced supply chain analytics solutions. This leadership is attributed to their substantial industrial bases and technological advancements. These states leverage sophisticated analytics to manage and optimize their complex supply chains, reflecting their significant role in the market. The emphasis on detailed operational insights helps these states handle intricate processes and improve overall efficiency within their industries.
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Key Takeaways
- Supply chain analytics is gaining traction across various industries for improving visibility, reducing expenses and increasing customer satisfaction through better operational efficiencies powered by increasingly integrated advanced technologies.
- North America is leading the market with largest deployment of supply chain analytics solutions due to advanced manufacturing and digitalization trends in industrial processes.
- The professional services segment has the highest market share because it is essential for system compatibility and data security, while deployment-wise, cloud dominates as it offers agility as well as scalability.
- The report aims to provide a comprehensive analysis of the supply chain analytics market, highlighting growth trends, key drivers, regional insights, and technological advancements. It offers valuable insights for stakeholders to understand market dynamics and make informed decisions.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Adoption Rates of Emerging Technologies
5.2 Network Infrastructure Expansion, by Region
5.3 Cybersecurity Incidents, by Region (2020-2023)
5.4 Cloud Services Usage, by Region
6. Competitive Landscape
7. Supply Chain Analytics Market Segmentation, by Solution
8. Supply Chain Analytics Market Segmentation, by Enterprise Size
9. Supply Chain Analytics Market Segmentation, By Service
10. Supply Chain Analytics Market Segmentation, By Deployment
11. Supply Chain Analytics Market Segmentation, By End-use
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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