Digital Supply Chain Market Research
Adoption of digital supply chain solutions is being driven by growing demand for end-to-end visibility and real-time data interchange across the supply chain.
PORTLAND, PORTLAND, OR, UNITED STATES, May 19, 2023 /EINPresswire.com/ — The size of the global digital supply chain market was estimated at $3,918.00 million in 2020 and is anticipated to grow at a CAGR of 13.2% to reach $13,679.00 million by 2030.
The desire for dependable, quick, and efficient order execution, the rise in demand for cloud-based supply chain management systems, and the rising use of digital technology designed for industrial use are all having an impact on the global digital supply chain market. However, over the projection period, security issues related to the digital supply chain may somewhat restrain market growth.
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The digital supply chain market is experiencing significant growth and transformation, driven by several key drivers and trends. Firstly, the increasing need for end-to-end visibility and real-time data exchange across the supply chain is propelling the adoption of digital supply chain solutions. Businesses are seeking to optimize their supply chain operations, improve efficiency, and enhance customer satisfaction through better tracking and management of inventory, logistics, and production processes.
Secondly, the rise of e-commerce and the expanding global market are driving the demand for agile and responsive supply chain systems. Digital supply chain solutions enable businesses to adapt to changing market dynamics, handle increased order volumes, and provide faster delivery times. The integration of technologies like Internet of Things (IoT), cloud computing, and big data analytics in the digital supply chain enables real-time monitoring, predictive analytics, and streamlined decision-making.
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Thirdly, the increasing focus on sustainability and ethical practices is influencing the digital supply chain market. Businesses are leveraging digital solutions to track and manage environmental impact, reduce waste, optimize transportation routes, and ensure compliance with regulations. Digital technologies enable better traceability and transparency throughout the supply chain, allowing businesses to meet consumer demands for sustainable and responsible sourcing.
Lastly, the ongoing advancements in emerging technologies are shaping the digital supply chain landscape. Technologies such as artificial intelligence, machine learning, blockchain, and robotic process automation are being integrated into supply chain operations to automate processes, enhance data accuracy, enable predictive maintenance, and improve overall operational efficiency.
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In summary, the digital supply chain market is driven by the need for end-to-end visibility, the growth of e-commerce and global markets, sustainability considerations, and advancements in emerging technologies. These drivers, coupled with the ongoing digital transformation efforts across industries, are reshaping the supply chain landscape and enabling businesses to gain a competitive edge through streamlined operations, improved customer experiences, and enhanced supply chain resilience.
Some of the key Digital supply chain industry players profiled in the report include Cloudera, Inc., IBM Corporation, Infor, MicroStrategy Incorporated, Oracle Corporation, SAP SE, SAS Institute Inc., Software AG, Tableau Software, and TIBCO Software Inc. This study includes digital supply chain market share, trends, digital supply chain market analysis, and future estimations to determine the imminent investment pockets.
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David Correa
Allied Analytics LLP
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