Dublin, May 02, 2023 (GLOBE NEWSWIRE) -- The "Supply Chain Risk Management Market by Component, End-use Industry, Enterprise Size, Deployment: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The Supply Chain Risk Management Market is likely to experience a significant growth rate of 9.2% from 2021-2031 owing to a rise in demand for sustainable supply chain management solutions and services
Key Market Players
- DHL International GmbH
- AnyLogistix
- EXIGER
- SAP Arbia
- CURA
- JAGGAER
- LogicManager, Inc.
- Avetta, LLC
- Marsh LLC
- MetricSream
The main goal of supply chain management services is to increase the entire performance and effectiveness of designing, manufacturing, and distributing electronics products. This is done by applying strategic drivers, business tools, and processes. The process through which companies undertake deliberate actions to detect, evaluate, and reduce risks within their end-to-end supply chain is called supply chain risk management. Its supply chain is susceptible to both internal and external threats.
Key factors driving the growth of the supply chain risk management market include government initiatives in supply chain management. Governments utilize supply chain risk management to control risks in the world's supply chains. In addition, it aids with supplier selection, sourcing, and other tasks. When deciding on transportation and distribution strategies, the government should take security and safety into account.
Governments must also take the required actions to implement sustainable procurement practices in order to enhance capability and support environmental protection. For instance, in August 2022, Exiger, a leading global risk and compliance SaaS company, announced that they have been awarded a "first of its kind" contract by the U.S. General Services Administration (GSA) as a trusted partner to deliver a supply chain risk management (SCRM) and third-party risk management (TPRM) enhanced capability made available to the entire U.S. Federal Government.
The multi-year, $74.5 million, contract award builds on Exiger's SCRM work with the Department of Defense (DoD) that has been tested and proven across multiple scenarios. GSA is now expected to expand access to Exiger's SCRM solutions and allow all government agencies to share risk insights and consistently manage supplier risk and health across the U.S. Federal Government enterprise.
In addition, the growth of supply chain management is a priority for many governments. Owing to the implementation of a government plan, the Indian logistics sector has experienced substantial growth.
Initiatives by key players for supply chain risk management solutions are expected to drive the growth of the market during the forecast period. For instance, in March 2022, CURA launched Cura Quants, an updated quantitative modeling solution designed to integrate with its existing Enterprise GRC Platform. It helps in right direction for Supply chain risk management solutions.
In the last few years, the adoption of supply chain management software has notably increased, which has resulted in the adoption of supply chain management services including supply chain risk management services across different industry verticals, as it assures effective functioning of platforms and software. Increase in the adoption of supply & demand centered policies and rapid ongoing advancement in the supply chain risk management software are expected to boost the demand for different services in the upcoming years.
Moreover, there is an increase in the adoption of consulting services among the organizations to create and manage high-performing and resilient supply chains according to their specific requirements, which drive sustained and profitable growth, which fuels the growth of the market. In addition, the adoption of these services in industry verticals facilitates a complete view of business goals, ensures rapid implementation of software, maximizes the value of existing installation by optimizing it, and minimizes the deployment cost & risks, which fuel the growth of the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the supply chain risk management market analysis from 2021 to 2031 to identify the prevailing supply chain risk management market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the supply chain risk management market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global supply chain risk management market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Solution
- Services
By End Use Industry
- Retail and Consumer Goods
- Healthcare and Pharmaceuticals
- Manufacturing
- Food and Beverages
- Transportation and Logistics
- Automotive
- Other
By Enterprise Size
- Large Enterprise
- Small and Medium Enterprise
By Deployment
- On Premise
- Cloud
For more information about this report visit https://www.researchandmarkets.com/r/dmruf2
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