Supply Chain Analytics Market Valued at $4.32 Billion in 2022, Expected to Grow at 15% CAGR

The global Supply Chain Analytics Market size was USD 4.32 billion in 2022 and is anticipated to grow at a rapid revenue CAGR of 15% during the forecast period.

The rise in demand for real-time visibility and efficient operations of the supply chain is a key factor driving the growth of market revenue. The adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and big data analytics for decision-making efficiency, supply chain visibility enhancement, and risk management and forecasting is increasing the adoption of supply chain analytics.

In sectors such as manufacturing, healthcare, and retail, where supply chain delays can result in lost sales, disgruntled clients, and legal repercussions, this is critical. Companies can now gain real-time visibility into their supply chain operations and detect potential risks before they occur through the use of advanced analytics technologies such as predictive analytics, prescriptive analytics, and descriptive analytics.

The internationalization of businesses and the growth of e-commerce have made supply chain operations more complex. Sophisticated analytics solutions can assist firms in optimizing their supply chain operations by enhancing their relationships with suppliers and customers, streamlining lead times, and managing inventory more effectively. This can lead to greater customer satisfaction, increased profitability, and reduced costs.

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Segments Covered in the Report

The supply chain analytics market can be categorized by various factors, including solution outlook, service outlook, deployment outlook, enterprise size outlook, and end-use outlook.

Solution Outlook: The market can be segmented into different solution outlooks, including logistics analytics, manufacturing analytics, planning & procurement, sales & operations analytics, and visualization & reporting.

Service Outlook: The supply chain analytics market can also be segmented by service outlook, including professional services and support & maintenance services.

Deployment Outlook: The deployment outlook of the market includes two main categories: cloud-based and on-premise solutions.

Enterprise Size Outlook: The market can be segmented by enterprise size outlook, which includes large enterprises and small & medium enterprises (SMEs).

End-use Outlook: Finally, the supply chain analytics market can be segmented by end-use outlook, including retail & consumer goods, healthcare, manufacturing, transportation, aerospace & defense, high technology products, and others.

Strategic development:

On 20 January 2022, IBM announced the acquisition of MyInvenio, a process mining software provider that helps organizations optimize their supply chain operations. With this acquisition, IBM aims to enhance its supply chain analytics capabilities and help its customers improve supply chain efficiencies.

On 30 November 2021, SAP announced the launch of its integrated supply chain planning platform, which enables customers to optimize their supply chain operations by incorporating real-time information and advanced analytics. This platform provides end-to-end visibility and allows businesses to identify and address supply chain disruptions quickly.

On 1 March 2021, Oracle Corporation announced the launch of its new AI-powered supply chain management platform. This platform uses advanced analytics and ML to optimize supply chain operations and enable businesses to respond quickly to changes in demand and supply.

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Competitive Landscape:

The global supply chain analytics market is highly competitive and includes several major players. Some of the major companies operating in the market, as reported in the global supply chain analytics market report, include IBM Corporation, SAP SE, Oracle Corporation, SAS Institute Inc., Cisco Systems, Inc., Tableau Software, Inc., Microsoft Corporation, Teradata Corporation, Cloudera, Inc., and Qlik Technologies Inc.

IBM Corporation, one of the largest technology companies in the world, offers a range of supply chain analytics solutions, including Watson Supply Chain Insights and IBM Sterling Supply Chain Suite. SAP SE, a leading software company, provides supply chain planning and execution solutions that help businesses optimize their supply chain operations. Oracle Corporation offers supply chain management solutions that use advanced analytics and machine learning to provide real-time insights into supply chain operations.

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