Pune, India, Oct. 18, 2021 (GLOBE NEWSWIRE) --
The global supply chain analytics market size is anticipated to observe exponential growth rate during the forecast period owing to the need to streamline supply chain management processes through advanced technologies. The COVID-19 pandemic played an important role in creating effective virtual supply chain analytics services. Large-scale companies are adopting these solutions to help them formulate supply chain management and marketing strategies by considering the real-time business scenario.
These solutions help business owners gain accurate insights into their customers’ purchasing behavior and the reasons behind their changing preferences. These insights act as valuable information for businesses and enhance their competitive advantage. Below mentioned is the region-wise view of trends driving the market outlook:
- Asia Pacific (regional market size to be valued at over $2.5 billion):
Manufacturing analytics solutions gain momentum:
The Asia Pacific supply chain analytics market size from manufacturing analytics solutions will expand at 20% CAGR up to 2027. Advanced technologies, such as IoT and AI are being implemented on a large scale across established organizations.
Manufacturing analytics solutions analyze the raw data taken from production processes and adopt the capabilities of various disruptive technologies. These include predictive analytics, big data, and edge computing and help the owners make sound business decisions. Another advantage of using these technologies is that they play a vital role in identifying hidden factors that may hinder the company’s progress and help in maximizing business productivity.
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Managed services lower business costs:
Managed services will witness widespread adoption across the region as many organizations are deploying cloud computing technologies to find effective supply chain analytics solutions. These services reduce a company’s installation and operational costs of implementing additional software and other expensive components. Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) are some of the popular forms of managed services that reduce the burden of managing an extensive supply chain management network.
Companies switch to cloud-based deployment model:
The regional supply chain analytics market share from cloud deployment model will grow at a substantial rate. A major reason behind this is that several renowned enterprises are switching to cloud-based infrastructure to seek better supply chain analytics solutions.
Service providers specializing in the cloud domain offer minimal SaaS subscription fees and prevent organizations from spending heavily on large-scale infrastructure, such as dedicated hardware and software licenses.
- North America (regional industry share to reach a valuation of over $4 billion):
Demand analytics solutions take center stage:
Demand analytics solutions will capture more than 70% share of the regional market by 2027. These solutions help companies efficiently manage the uncertainties associated with demand for products and services. High-end capabilities are used to study the factors affecting these uncertainties and help organizations in advanced demand planning and forecasting.
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Large-scale enterprises adopt supply chain analytics:
The demand for supply chain analytics services will majorly come from large enterprises in the region. These organizations are likely to invest heavily in resources that will play a vital role in strengthening the overall supply chain infrastructure. The solutions will improve the efficiency of workflows in these enterprises and will enable the business owners to keep accurate track of their massive inventory.
U.S. industry share grows considerably:
U.S. supply chain analytics market size will augment and record a strong CAGR of 10% through 2027. The retail sales have shot up as the penetration of e-commerce platforms reached 21.3% in 2020. According to the Census Bureau of the Department of Commerce, e-commerce retail sales grew by more than $90 billion in Q2 of 2020 when compared to Q2 of 2019. Since online shopping is growing at an exponential rate, companies may adopt supply chain analytics solutions.
- Europe (regional market share to become worth over $2.5 billion):
Logistics analytics solutions gain traction:
The Europe supply chain analytics market size from logistics analytics solutions will record more than 10% CAGR up to 2027. Enterprises are focusing on reducing their operational costs and risks inherent in reverse logistics given these solutions analyze large volumes of logistics data. This analysis extracts valuable information about supply chain processes and helps enterprises in taking practical financial decisions. Companies can assess the cost-benefit analysis of various processes and enhance their profitability.
Access sample pages of the report, “Europe Supply Chain Analytics Market Forecasts 2027” in detail along with the table of contents (ToC) @
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Retailers drive UK market forecast:
UK held over 20% share of the regional market in 2020 as the retailers aim to improve their logistics network by using advanced technologies like big data. Supply chain analytics services help retail chains achieve operational efficiency, enhance the customer experience, and offer better ROI to investors through a thorough analysis of customer datasets and providing a variety of practical business solutions.
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