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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