The Supply Chain Analytics Market was currently valued at USD 8.71 billion in the year 2022 registering a CAGR of 21.7% over the forecast period, 2023-2030.
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The global supply chain is useful for the maintenance and development of the future economy, it is useful for the day-to-day necessities like food and fuel to luxurious goods, supply chain analytics uses data analytics to enhance and support the supply chain management. Due to the large and complex organizational type supply chain maintains the big data of information to understand the requirements trends efficiencies and insightful development. It can be helpful in the maintenance, operations, and optimization of the supply chain. The growth of the e-commerce industries will help to drive the supply chain market and due to the higher demand and inventory, the supply chain analytics market will grow significantly.
Supply chain analytics refers to the tools and processes used to combine and analyze data from multiple systems to gain insights into the procurement, processing, and distribution of goods.
Supply chain automation can bring efficiency, streamline processes, and connect data across different channels. Technologies such as artificial intelligence, robotic process automation, digital process automation, and machine learning bring agility to many supply chain operations.
Segmentation:
The Supply Chain Analytics Market is Segmented
By Solution
By Service
Deployment
Enterprise Size
Geography
The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
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Drivers:
Rapidly growing adoption in manufacturing industries
The supply chain analytics market can be driven by the high adoption of the service in various manufacturing industries and organizations for better decision-making processes. Supply chain analytics provide better and more efficient supply chain management by delivering the real-time data of the organization according to the current requirements of the consumers from the organization. It reduced the manufacturing cost of the product and reduced the time of production. As supply chain analytics deals with the planning of product material, sourcing, production, and distribution it is useful for planning these factors and increasing the profitability of the manufacturer.
The deployment of artificial intelligence in supply chain analytics Artificial Intelligence has gained abundant popularity over the years. In modern supply chain analytics, AI is one of the prominent factors for better service and increasing the profitability of the organization. The AI supply chain analytics works with a smart machine that can solve the task of problem-solving in several departments of the organization. Smart industry manufacturing is fully automated and works by the IIOT (Industrial Internet of Things) can operate the overall supply chain without and manual operating system. AI which is used by the organization will be more efficient in machine-made data flowing out of IoT devices. It has better connectivity for the effective decision-making process.
Restraints:
Uncertainty in data and future prediction
While there are many benefits to supply chain analytics like it collects data forecasting for the profitability of the business, giving solutions to the supply chain management, etc. there are some limitations in supply chain analytics though the data is streamlined according to the analytics sometimes it is hard to humans to understand it. Another problem with supply chain analytics is that the organization can not only rely on the data collected by the supply chain analytics for-profit and decision-making process, but sometimes data is of low quality and hamper the decision-making and growth of the organization.
Segmental Analysis:
By Solution, Logistics Analytics Segment is Expected to Witness High Growth Over the Forecast Period.
Logistics analytics is a term used to describe analytical procedures conducted by organizations to analyze and coordinate the logistical function and supply chain to ensure the smooth running of operations in a timely, and cost-effective manner. The logistics analytics conducts a detailed cost-benefit analysis to improve profitability and simplify the supply chain while increasing operational capacity planning.
Cloud Based Deployment System Segment is Expected to Witness Significant Growth Over the Forecast Period
Cloud computing is the provision of computing resources and services from the internet (“the cloud”) on an on-demand basis as opposed to using one’s own server infrastructure and hardware. Cloud computing makes it possible to use vast data storage, powerful servers, high bandwidth networking, remote databases, and software over the internet at exponentially lower costs.
North America Region is Expected To Witness Highest Growth Over the Forecast Period
North America held the largest share of the supply chain analytics market due to the rising utilization of supply chain-related services for profitability and improvement purposes is observed as a significant factor in supporting the market’s development throughout the predicted timeframe. Infrastructural development, rapid adoption of advanced services, and the presence of major key players in the region are a few other factors to fuel the market’s growth in the upcoming period. Moreover, the rising demand for real-time insights and inventory from multiple organizations is propelling the market’s growth. In addition, the increasing investments in start-ups that require data analytics services with minimal IT investments will supplement the market’s growth in the region. The market’s growth is driven by the penetration of data analytics services in the retail sector of North America. Furthermore, the recent developments in the new product are further driving the growth of the market in the region. For instance, in May 2023, powered by eBPF Technology, Aqua Security, the pioneer in cloud-native security announced pipeline integrity scanning preventing software supply chain attacks and assuring CI/CD pipeline integrity.
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Competitive Landscape:
The Supply Chain Analytics Market is highly competitive due to the presence of many market players working globally and regionally. Some of the market players working in this market segment are:
Recent Developments:
1) In May 2023, At Gartner Supply Chain Symposium 2023, Everstream Analytics, the company working in global supply chain insights and risk insights announced the launch of Everstream Connect. The new platform works with the end-to-end supply chain risk management platform and connects to deliver intelligent mapping and visibility into the logistics network flow.
2) In April 2023, the company named Project 44 works in the field of supply chain visibility platforms announced the launch of GPT, a brand new AI technology for the company that put the power of generative AI into the hands of the industry.
Q1. What is the current Supply Chain Analytics Market size?
The Supply Chain Analytics Market was currently valued at USD 8.71 billion.
Q2. What is the Growth Rate of the Supply Chain Analytics Market?
Supply Chain Analytics Market is expected to grow at a CAGR of 21.7% over the forecast period.
Q3. What segments are covered in the Supply Chain Analytics Market Report?
By Solution, By Service, Deployment, Enterprise size % Geography are the segments covered by the report.
Q4. What are the Growth Drivers of the Supply Chain Analytics Market ?
Rapidly growing adoption in manufacturing industries are the growth drivers of the supply chain analytics market.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
