Global Supply Chain Analytics Market to Reach USD 13.5 Billion by 2027, Driven by Rising Adoption of Big Data Technologies

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Jul 13, 2023, 19:00 ET

DUBLIN, July 13, 2023 /PRNewswire/ -- The "Global Supply Chain Analytics (SCA) Market by Component, Software (Supplier Performance Analytics, Demand Analysis & Forecasting, Spend & Procurement Analytics), Service, Deployment Mode, Organization Size, Vertical, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global supply chain analytics market is poised for significant growth, with a projected market size of USD 13.5 billion by 2027, representing a robust Compound Annual Growth Rate (CAGR) of 21% during the forecast period. The market's expansion is driven by advancements in technology, enabling businesses to optimize their supply chain operations and enhance decision-making processes.

The automotive segment is expected to dominate the market, holding the largest market size throughout the forecast period. By utilizing supply chain analytics, automakers gain the ability to analyze vast datasets, enabling precise demand estimation and the identification of emerging trends. These insights help automakers make informed decisions, such as anticipating shifts in consumer preferences for specific options or colors, leading to improved production planning and inventory management.

Among the verticals, the pharmaceutical sector is anticipated to register the highest CAGR. Pharmaceutical companies face intense competition and the need to enhance supply chain efficiency. By leveraging supply chain analytics solutions, pharmaceutical firms can accurately predict demand, optimize inventory levels, and align production accordingly. These capabilities enable decision-makers to anticipate potential disruptions and mitigate the risk of shortages, ultimately ensuring a stable supply of critical medications.

The service segment is projected to grow at the highest CAGR during the forecast period. As businesses across various verticals embrace supply chain analytics solutions, the demand for supporting services increases. Managed and professional services play a crucial role post-deployment, facilitating improved return on investment (ROI) and business optimization. Organizations seek these services to simplify processes, maximize resources, and foster growth in the digital economy.

North America is expected to hold the largest market share in the supply chain analytics market. The region's robust infrastructure development, widespread adoption of digital technologies, and the availability of real-time data contribute to its leadership position. With cutting-edge products offered by various vendors, providing analytical dashboards for strategic decision-making, the North American market continues to expand.

Premium Insights

Rising Need for Data-Driven Decision-Making Across Supply Chain Operations to Drive Market
Retail and Consumer Goods Vertical to Continue to Hold the Largest Market Size During the Forecast Period
North America to Hold the Largest Market Share in 2027
Demand Analysis & Forecasting and Retail and Consumer Goods to be Largest Shareholders in the Market in 2027

Market Dynamics

Drivers:

Increasing Need for Greater Supply-Chain and Operational Efficiency
Growing Adoption of IoT in Supply Chains
Rising Adoption of Big Data Technologies
Growing Use of Analytics Technologies

Restraints:

Increasing Concerns of Businesses Regarding Data Security
Rising Cyber Threats Hindering Adoption of SCA Solutions

Opportunities:

Growing Use of Supply Chain Analytics on Cloud
Rising Awareness of Benefits of Supply Chain Management
Increasing Benefits of Using Supply Chain Analytics Software

Challenges:

Lack of Qualified Employees
Reluctance to Switch from Manual Methods to Advanced Reporting Processes
Integration and Analysis of All Data

Case Study Analysis

Mazda Motor Logistics Speeds Visibility Across Supply Chain
Titan International's Journey with Oracle Cloud and Internet of Things
Electrolux Improved Customer Service and Reduced Inventory Management Cost by Using Demand Planning & Optimization Solution of SAS with Oracle Cloud and Internet of Things
Improved Distribution of Products to Target Audiences
EmblemHealth Modernizes Operations in Oracle Cloud
Cloud Automation Helps FedEx Respond to Changes 2x Faster

Companies Mentioned

1010data
AIMMS
Axway
Cloudera
DataFactZ
Dataiku
Domo
Electrolux
EmblemHealth
FedEx
Hum Industrial Technology
IBM
Infor
Intugine Technologies
Logility
Lumachain
Manhattan Associates
Mazda Motor Logistics
MicroStrategy
Oracle
Pafaxe
Qlik
Relex Solutions
Rosslyn Analytics
Salesforce
SAP
SAS Institute
Software AG
SS Supply Chain Solutions (3SC)
TARGIT
The AnyLogic Company
TIBCO Software
Titan International
Voxware
Zebra Technologies

For more information about this report visit https://www.researchandmarkets.com/r/4llrz

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