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Supply Chain Analytics Market : Worldwide Study on Top Players | Antuit.ai, Axway, Inc., Blue Yonder Group, Inc., Bridgei2i Analytics Solutions Private Limited, Capgemini SE, DataFactZ, Halo BI (Logility Inc.), IBM Corporation
System Integration Market
Growing need to effectively manage supply chain operations and critical data while also optimizing large volumes of data has instigated the adoption of modern and high-end analytical tools for addressing the need to a great extent. Rising need for multi-enterprise engagement and comprehensive visibility across supply chain is complementing the product demand of analytical tools for supply chain management. This is estimated to provide lucrative growth opportunities for supply chain analytics market over the ensuing years.
According to Global Market Insights, Inc., supply chain analytics market size is estimated to surpass USD 10.0 billion by 2027.
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Increasing demand for supply chain analytics tools in various enterprises has urged major manufacturers to develop technologically advanced solutions to effectively serve the consumer demand and gain a strong presence in the market. Citing an instance, in 2020, Tecsys, Inc. announced the launch of an advanced integrated analytics tool especially for easing the retail supply chain operations. The company reportedly integrated Microsoft’s BI tool into its order management analytics platform which enabled it to provide cloud-based access to huge volume of data generated by retailers and companies. Apparently, this launch helped the company serve large enterprises and expand its business.
How are the companies operating in supply chain analytics market contributing to its growth?
Business players operating in the global market are laying emphasis on new product development along with strategies such as mergers and acquisitions to gain strong market presence. For instance, in 2019, Holisol Logistics in partnership with Cogneau Systems, launched an Artificial Intelligence based platform- 'Verdis' (Virtual Data ScientistTM) focusing on supply chain functions. According to the companies, this system has been designed for enabling businesses to tap into the power of data through data science techniques. Such initiatives are providing lucrative opportunities for the industry growth.
What are the factors propelling the growth of inventory analytics solution segment across supply chain analytics industry?
Inventory analytics solutions are becoming highly popular across various industries on account of their excellent capabilities including tracking of inventory turnover and warehouse & transport equipment. Companies can utilize this solution for managing their key performance indicators along with optimizing the real-time visibility and inventory costs. Besides, ongoing modernization activities within the supply chains is fostering the demand for inventory analytics solutions. Given that, inventory analytics solution segment is projected to record a lucrative growth rate of around 13.0% through 2027.
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Why is the large enterprise segment gaining immense popularity across supply chain analytics market?
Various large enterprises with production facilities and customer base spread around the globe find extensive usage of supply chain analytics tools for obtaining remote visibility throughout the entire supply chain. These enterprises can leverage the analytics tools for reducing the impact of disruptions as well as prevent their occurrence before time. Remote visibility and administration abilities are fueling their demand in such enterprises due to which large enterprise segment is estimated to record a substantial CAGR of over 15.0% through 2027.
How will the on-premise deployment segment fare across the overall supply chain analytics industry?
Several benefits associated with on-premise deployment of supply chain analytics tools, such as higher security, effective backup & recovery functions and affordability, are largely contributing to the growth of business space. On-premise supply chain analytics solutions and services also eliminate the need to connect cloud gateways which helps to curb cyber threats. Companies can easily connect a specific supply chain analytics platform with their existing ERP systems which is significantly fostering their demand. With increasing adoption of this deployment method, on-premise segment across supply chain analytics market is expected to secure an appreciable share of more than 60.0% by 2027.
How will the increasing transport and logistics applications augment the growth of supply chain analytics market?
Application of supply chain analytics solutions in transport and logistics sector has increased enormously over the last few years and is expected to increase further over the upcoming years. This can be credited to the usability of tools in transport and logistics companies as they help in cutting overhead costs and enhancing the overall efficiency as they maintain sales and operations as well as fleet efficiencies. In addition, these solutions offer a centralized view of the entire logistics and transport operations which further allows enterprises to make proactive decisions for ensuring the business efficiencies.
What makes Asia Pacific a strong growth avenue for supply chain analytics market?
Expanding retail, logistics and infrastructure sectors across several APAC countries is one of the prominent factors contributing to the growth of regional supply chain analytics industry. In addition to this, public and private companies in the region are showing higher inclination towards analytics solutions in order to address the severe impact of supply chain disruptions. For instance, in 2020, the National Economic and Development Authority of the Philippines announced the deployment of supply chain analytics tools for monitoring and resolving supply chain disruption issues caused by coronavirus pandemic. This enabled the authority to effectively manage the supply chain operations through in-depth real-time visibility. Considering the increasing product adoption, supply chain analytics market in Asia Pacific is anticipated to observe a robust CAGR of over 20.0% through 2027.
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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