IMARC Group's report titled “Supply Chain Analytics Market Report by Component (Software, Services), Deployment Mode (On-premises, Cloud-based), Enterprise Size (Large Enterprises, Small and Medium Enterprises), Industry Vertical (Automotive, Food and Beverages, Healthcare and Pharmaceuticals, Manufacturing, Retail and Consumer Goods, Transportation and Logistics, and Others), and Region 2024-2032”. The global supply chain analytics market size reached US$ 8.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 30.6 Billion by 2032, exhibiting a growth rate (CAGR) of 15.5% during 2024-2032.
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Factors Affecting the Growth of the Supply Chain Analytics Industry:
- Data-Driven Decision Making:
In the digitally interconnected world, data is becoming the lifeblood of business operations. Supply chain analytics leverages advanced analytical techniques to transform raw data from various sources into actionable insights. By harnessing data from sources such as sensors, internet of things (IoT) devices, enterprise systems, and external data feeds, organizations gain a comprehensive view of their supply chain operations. This data-driven approach enables businesses to make informed decisions based on empirical evidence rather than intuition or guesswork. Supply chain analytics empowers companies to optimize inventory levels, streamline production processes, identify cost-saving opportunities, and enhance overall efficiency.
- Demand for Real-Time Visibility:
In the fast-paced business environment, the ability to have real-time visibility into supply chain activities is paramount. Supply chain analytics solutions provide businesses with a holistic view of their end-to-end supply chain processes in real-time. By aggregating and analyzing data from various sources, including suppliers, manufacturers, logistics providers, and customers, organizations can monitor key performance indicators (KPIs), such as inventory levels, order statuses, transportation routes, and production schedules. This real-time visibility enables companies to proactively identify bottlenecks, address disruptions, and optimize resource allocation to meet customer demands efficiently.
- Focus on Cost Optimization:
In an increasingly competitive business landscape, cost optimization remains a top priority for organizations across industries. Supply chain analytics plays a crucial role in helping businesses identify cost-saving opportunities and streamline operations to maximize efficiency and profitability. By analyzing historical data, demand forecasts, supplier performance metrics, and market trends, organizations can identify inefficiencies and areas for improvement within their supply chain processes. Supply chain analytics solutions offer advanced capabilities, such as inventory optimization, demand forecasting, transportation route optimization, and supplier performance analysis, enabling businesses to reduce procurement costs, minimize excess inventory holding costs, and optimize transportation spend.
Major Players in Global Supply Chain Analytics Industry:
- Axway
- Capgemini SE
- International Business Machines Corporation
- Infor Inc (Koch Industries Inc.)
- Kinaxis Inc.
- Manhattan Associates Inc.
- Microstrategy Incorporated
- Oracle Corporation
- QlikTech International AB
- SAP SE
- SAS Institute Inc.
- Tableau Software LLC (Salesforce Inc.)
Supply Chain Analytics Market Report Segmentation:
By Component:
- Software
- Demand Analysis and Forecasting
- Supplier Performance Analytics
- Spend and Procurement Analytics
- Inventory Analytics
- Transportation and Logistics Analytics
- Services
- Professional
- Support and Maintenance
Software represents the largest segment as it empowers organizations to make data-driven decisions by providing actionable insights into various aspects of the supply chain.
By Deployment Mode:
- On-premises
- Cloud-based
On-premises holds the biggest market share due to its capability to offer greater control over data security and compliance compared to cloud-based solutions.
By Enterprise Size:
- Large Enterprises
- Small and Medium Enterprises
Large enterprises represent the leading segment owing to their reliance on supply chain analytics to deal with massive volumes of data generated by numerous supply chain activities across multiple regions and business units.
By Industry Vertical:
- Automotive
- Food and Beverages
- Healthcare and Pharmaceuticals
- Manufacturing
- Retail and Consumer Goods
- Transportation and Logistics
- Others
Manufacturing accounts for the majority of the market share, driven by the rising utilization of supply chain analytics for inventory optimization and predictive maintenance.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the supply chain analytics market is attributed to the growing digitization of various business operations.
Global Supply Chain Analytics Market Trends:
The proliferation of e-commerce platforms and the shift towards omnichannel retailing are transforming expectations and supply chain dynamics. Moreover, people demand seamless shopping experiences, including options for online ordering, in-store pickup, and same-day delivery. Supply chain analytics enables retailers and manufacturers to optimize inventory allocation, fulfillment processes, and transportation routes to meet evolving customer demands effectively. By analyzing customer data, sales trends, and channel performance metrics, businesses can tailor their supply chain strategies to align with omnichannel retailing requirements, improve inventory visibility, and enhance customer satisfaction.
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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