Westford, USA, April 26, 2022 (GLOBE NEWSWIRE) -- The COVID-19 pandemic has had a long-term impact on markets around the world, requiring corporate leaders to act and continue operations. The pandemic highlighted the significance of supply chain solutions for long-term economic viability. During these uncertain times, supply chain analytics-enabled organizations to identify processes that required immediate attention or products/items that were likely to run out soon, allowing them to better manage the demand-supply gap.
Furthermore, market SCA vendors are actively working and offering solutions to mitigate the negative effects of the pandemic on global supply chains. For instance, in June 2021, Infosys Limited developed a personalized medicine solution for the pharmaceutical industry. The solution combines SAP C/4HANA suite, SAP S/4HANA, SCI platform, and SAP Analytics Cloud solutions to assist pharmaceutical companies in meeting regulatory and business requirements while providing personalized patient experiences. In addition, SAP SE announced additional offerings and access to the company's technologies in April 2021 to assist enterprises in confronting and navigating the COVID-19 pandemic. The free offerings include Qualtrics Supply Continuity Pulse and Planning as a Service with the SAP Integrated Business Planning for Supply Chain solution. SCA provides organizations with a broader view of supply chain activities, allowing them to more effectively manage any issues that may impact the business's profitability or sustainability.
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Mobile-based solutions assist businesses in tracking inefficient supplier networks, increased warehousing costs, and incorrect forecasts, among other things. Analytics solutions are also important in analysing business operations, which can help improve inventory management and, as a result, help reduce associated cost components that can stymie business growth. A recent surge in the adoption of mobile-based solutions is expected to open up new opportunities for the industry's growth.
Read the market research report, " Global Supply Chain Analytics Market is segmented By Software (Supplier Performance Analytics, Demand Analysis & Forecasting, and Inventory Analytics), By Services (Professional, Support & Maintenance), By Deployment Model (Cloud, On-premises) & By Region- Forecast and Analysis 2021-2027” by SkyQuest
Rising data flow rates, combined with the ongoing need for a unified cost-cutting solution, are expected to drive demand for advanced analytics solutions across industry verticals. Big data has emerged as a critical component in developing business development strategies. Furthermore, one of the primary concerns of businesses is cost-cutting and resource-saving, which can be accomplished through appropriate supply chain optimization. As a result, the use of data improves the analytical power of such analytical solutions and provides businesses with valuable insights into the root causes of lost productivity and velocity. These insights also provide improved visibility into supply chain performance, allowing businesses to control the flow of their resources and target their improvement initiatives. Cost containment, transportation network design, route optimization, inventory optimization, risk management, customer collaboration, and global integration are all benefits of supply chain analytics for companies. Furthermore, the widespread use of IoT devices in industries such as automotive, healthcare, and manufacturing has resulted in the generation of massive amounts of data, prompting a surge in the adoption of such solutions in supply chains.
North America dominated the global supply chain analytics market in 2021, accounting for more than 38% of the total revenue. Because of the complexity of corporate processes, North American industrial organizations are putting a greater emphasis on the visual display of operational data. This enables businesses to quickly assess the current data-driven health of their supply chain, allowing for better strategic decision-making. The European regional market is expected to grow at a promising rate over the forecast period. The European Commission's Single Market Strategy allows commodities, services, people, and capital to move freely throughout the EU. It broadens the geographical market for European businesses and expands the acceptance and deployment of SCA solutions.
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SAP SE, Oracle Corporation, Accenture PLC, and Aera Technology are the leading vendors offering unified software solutions to address the various needs of a supply chain. The trend of optimizing the delivery mechanism from point of production to point of consumption has prompted businesses to implement unified advanced analytics software. The advancement of supply chain solutions through the use of big data and predictive analytics, as well as the use of interactive software solutions and functional dashboards, encourages market participants to create advanced supply chain analytics solutions.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
SkyQuest has segmented the global Supply Chain Analytics market based on Component Software, Services, Deployment Mode, And Region:
- Supply Chain Analytics Software Outlook (Revenue, USD Million, 2021 - 2027)
- Demand analysis and forecasting
- Supplier performance analytics
- Spend and procurement analytics
- Inventory analytics
- Transportation and logistics analytics
- Supply Chain Analytics Services Outlook (Revenue, USD Million, 2021 - 2027)
- Professional
- Support & Maintenance
- Supply Chain Analytics Deployment Mode Outlook (Revenue, USD Million, 2021 - 2027)
- On-premises
- Cloud
- Supply Chain Analytics Regional Outlook (Revenue, USD Million, 2021 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Central & South America
- Brazil
- Rest of CSA
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
- North America
List of Key Players of the Supply Chain Analytics Market
- SAP (Germany)
- Oracle (US)
- IBM (US)
- SAS Institute (US)
- Software AG (Germany)
- MicroStrategy (US)
- Tableau (US)
- Qlik (US)
- TIBCO (US)
- Cloudera (US)
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