Supply Chain Risk Management Market : Food and Beverages, Transportation and Logistics, Automotive Forecast, 2021-2031

The supply chain risk management market was valued at $2.9 billion in 2021, and is estimated to reach $6.9 billion by 2031, growing at a CAGR of 9.2% from 2022 to 2031.

Initiatives and developments by government and industry players across the country are anticipated to drive the growth of the SCRM market during the forecast period. For instance, in January 2022, U.S. Government and industry members of the Information and Communications Technology (ICT) and Supply Chain Risk Management (SCRM) Task Force announced new members and mapped out the Task Force's 2022 work plan.

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Co-chaired by the Cybersecurity and Infrastructure Security Agency (CISA) and the Information Technology and Communications Sector Coordinating Councils, the Task Force is a public-private partnership focused on identifying and addressing unique challenges impacting global ICT supply chains. The three new governmental partners include the Small Business Administration (SBA), the National Association of State Procurement Officials, and the National Association of State Chief Information Officers who announced to develop actionable solutions to enhance ICT supply chain resilience. In addition, they announced two additional areas of focus to address ICT supply chain risk related to promoting software assurance and the utility of Software Bill of Materials across the ICT community.

Furthermore, companies serving the U.S. marketplace are expected to continue to benefit from strong incentives to firms relocating their operations or production to Mexico over the next five years, however labor issues and security-related dangers could linger. In response to recent supply chain shocks such as the Russia-Ukraine conflict and China's dynamic COVID-19 containment policy, businesses are increasingly looking to nearshore, or relocating their operations closer to their primary destination markets. These businesses are well-positioned to profit from this trend, which favors Mexico.

COVID-19 Impact Analysis :

The global increase in COVID-19 cases is slowing down the economy. Developed nations are most affected by this pandemic. However, as social distancing laws are becoming stricter, it is anticipated that the adoption of collaborative software applications, security measures, big data, and AI (Artificial Intelligence) is expected to rise in the next few years. Various end users are using supplier risk management strategies to reduce supply chain hazards that could result from COVID-19.

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KEY FINDINGS OF THE STUDY :

By component, the services segment is anticipated to exhibit significant growth in during the forecast period.

By end use industry, the Transportation and logistics segment is anticipated to exhibit significant growth during the forecast period.

By enterprise size, the Small and Medium Enterprise segment is anticipated to exhibit significant growth during the forecast period.

By deployment, the Cloud segment is anticipated to exhibit significant growth during the forecast period.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

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Key players operating in the global supply chain risk management market include AnyLogistix, Avetta LLC, CURA, DHL International GmbH, EXIGER, JAGGAER, LogicManager, Inc., Marsh LLC, MetricSream, and SAP Arbia.

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