DUBLIN–(BUSINESS WIRE)–The “Global Supply Chain Analytics Market, By Software, By Services, By Deployment Model, & By Region – Forecast and Analysis 2022 – 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Supply Chain Analytics Market was valued at USD 4.18 Billion in 2021, and it is expected to reach a value of USD 15.98 Billion by 2028, at a CAGR of more than 21.12% over the forecast period (2022 – 2028).
The supply chain analytics (SCA) market is seeing rising demand as a result of greater awareness of the benefits of SCA solutions such as forecasting accuracy, supply chain optimization, waste minimization, and meaningful synthesis of business data. The growing number of small and medium-sized businesses, as well as their increased investment on applying analytics in order to maintain a strong market position and compete with other market players, are likely to drive market expansion throughout the forecast period.
Top-down and bottom-up approaches were used to estimate and validate the size of the global supply chain analytics market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Aspects covered in this report
The global supply chain analytics market is segmented based on Software: Supplier Performance Analytics, Demand Analysis and Forecasting, and Inventory Analytics. By Services the market is segmented into: Professional, Support & Maintenance. By Deployment Model the market is categorized into Cloud, On-premises. Based on region it is categorized into: North America, Europe, Asia-Pacific, Latin America, and MEA.
- Rising data volumes, along with the ongoing need for a unified cost-cutting solution, are projected to drive demand for advanced analytics solutions across business verticals. Big data has emerged as a critical component in developing corporate growth plans. Furthermore, one of the key concerns of businesses is cost-cutting and resource-saving, which may be accomplished through appropriate supply chain optimization. As a result, the utilization of data improves the analytical capacity of such analytical solutions and offers businesses with useful insights into the core causes of lost productivity and velocity. These data also provide improved visibility into supply chain performance, allowing businesses to govern the flow of their resources and target their improvement projects.
- With the rising complexity and demand for real-time data analysis across the supply chain ecosystem, enterprises are gravitating toward cloud-based supply chain analytics solutions. The usage of cloud-based analytics solutions primarily aids in the tracking and analysis of overall supply chain activities throughout the forward and backward supply chain ecosystems. Furthermore, cloud advantages such as cost-effectiveness, agility, simplicity of use and integration, planning, and scalability are attracting a wide range of supply chain management system providers.
Key Market Trends
- Machine-generated and human-generated data are growing at a rate that is ten times faster than traditional commercial data. Furthermore, by 2027, the worldwide industry is predicted to have 41 billion IoT devices that will gather, analyze, and exchange this data. The growing need to store, process, and analyze huge volumes of structured and unstructured datasets has prompted many businesses and people to adopt advanced and big data analytics.
- The advent of concepts like Industry 4.0 and Logistics 4.0 is likely to provide up attractive potential for market expansion. Industry 4.0 is a contemporary trend in manufacturing technology that combines traditional manufacturing and industrial methods with technologies such as cyber-physical systems, the Internet of Things (IoT), cloud computing, and cognitive computing.
- Sas Institute
- Software AG
- Micro Strategy
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