Fort Collins, Colorado, Dec. 11, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Digital Supply Chain Market was valued at USD 4.3 Billion in 2022 and is expected to reach USD 12.1 Billion by 2032 at a CAGR of 10.9%.
In today's fast-paced business environment, companies constantly seek ways to optimize their supply chain operations and gain a competitive edge. The digital supply chain is one such solution that integrates cutting-edge technologies such as the IoT, AI, data analysis, big data, and cloud computing to streamline and improve supply chain operations. Logistics 4.0, also known as smart logistics, is a key component of the digital supply chain.
It encompasses predictive and prescriptive analytics and process integration in the logistics industry. By leveraging these technologies, companies can achieve better visibility and control over their supply chain, enabling them to make more informed decisions and reduce costs. One of the primary uses of IoT in the supply chain is the real-time tracking of materials and products. With IoT-enabled sensors, companies can monitor their products' location, temperature, and condition as they move through the supply chain.
This enhances the quality of service offered to customers and enables companies to make data-driven decisions that can help optimize their supply chain operations. Digital supply chains also provide companies with a cost-effective solution, eliminating the need for manual processes and paperwork. This results in enhanced control, improved transparency, and better supply chain visibility.
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Segmentation Overview:
The global digital supply chain market has been segmented into component, organization size, end-user, and region. Large enterprises currently dominate the digital supply chain market share due to the high implementation cost that smaller enterprises can't afford. A robust supply chain management system is necessary for managing their operations. The FMCG sector holds a significant share in this industry as they deal with perishable products requiring a reliable system to ensure timely deliveries and minimize losses.
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Digital Supply Chain Market Report Highlights:
- The global digital supply chain market growth is anticipated at a CAGR of 10.9% by 2032.
- The demand for digital supply chains is increasing as it enables businesses to predict the estimated time for raw material procurement to final delivery.
- Asia Pacific holds a significant market share due to its growth in various sectors and the increase in the e-commerce market in countries like China and India.
- Some prominent digital supply chain market players include IBM Corporation, Oracle Corporation, Infosys, SAS Institute, SAP SE, Descartes Systems Group, Infor Global Solutions, Blue Yonder, Cloudera Inc., Tibco Software, and others.
Industry Trends and Insights:
- IBM Consulting and Palo Alto Networks will expand their strategic partnership to enhance clients' security postures.
- Oracle has been recognized as a Leader in the 2023 Gartner Magic Quadrant for Strategic Cloud Platform Services.
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Digital Supply Chain Market Segmentation:
By Component: Services and Solutions
By Organization Size: Small and medium enterprises and Large enterprises
By End-User: Healthcare, Manufacturing, FMCG, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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