Supply Chain Analytics Market Size To Surpass US$ 18.29 Billion by 2028, CAGR of 17.60%

IMARC Group, a leading market research company, has recently releases report titled "Supply Chain Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global supply chain analytics market size reached US$ 6.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.29 Billion by 2028, exhibiting a growth rate (CAGR) of 17.60% during 2023-2028.

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Factors Affecting the Growth of the Supply Chain Analytics Industry:

• Rising Consumer Expectations:

Consumers are expecting faster and more reliable deliveries of products. Supply chain analytics helps companies optimize their logistics and transportation networks to meet these demands efficiently. By analyzing historical data and real-time information, businesses can route shipments more effectively, reducing delivery times. In addition, people are preferring personalized experiences, and this extends to their supply chain interactions. Supply chain analytics allows companies to collect and analyze data on consumer preferences and behaviors. This data can be used to tailor product offerings, packaging, and delivery options, enhancing the overall user experience.

• Technological Advancements:

The proliferation of Internet of Things (IoT) devices is revolutionizing supply chain management. IoT sensors are used to collect real-time data on everything from inventory levels to the condition of goods in transit. Supply chain analytics leverages this data for better visibility and decision-making. Moreover, artificial intelligence (AI) and machine learning (ML) algorithms are employed to analyze vast datasets and extract actionable insights. These technologies enable predictive analytics, helping businesses anticipate demand, identify bottlenecks, and optimize routes. AI-driven chatbots and virtual assistants also enhance consumer service and query resolution in the supply chain.

• Data Availability:

With the availability of data, advanced analytics techniques can be applied. Machine learning (ML) and predictive analytics models can process large datasets to identify patterns, trends, and anomalies. These insights can be used to optimize inventory management, demand forecasting, and logistics. In addition, historical data, often stored in company databases, provides a valuable resource for supply chain analysis. By analyzing past performance, companies can identify areas for improvement, optimize processes, and make more accurate forecasts, which is bolstering the growth of the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Axway
• Capgemini SE
• International Business Machines Corporation
• Infor Inc (Koch Industries Inc.)
• Kinaxis Inc.
• Manhattan Associates Inc.
• Microstrategy Incorporated
• Oracle Corporation
• QlikTech International AB
• SAP SE
• SAS Institute Inc.
• Tableau Software LLC (Salesforce Inc.)

Supply Chain Analytics Market Report Segmentation:

By Component:

• Software
o Demand Analysis and Forecasting
o Supplier Performance Analytics
o Spend and Procurement Analytics
o Inventory Analytics
o Transportation and Logistics Analytics
• Services
o Professional
o Support and Maintenance

Software represents the largest segment as it forms the core of supply chain analytics solutions, enabling data analysis, modeling, and decision support.

By Deployment Mode:

• On-premises
• Cloud-based

On-premises account for the majority of the market share due to the preference of organizations to have full control over their analytics infrastructure and data security.

By Enterprise Size:

• Large Enterprises
• Small and Medium Enterprises
Large enterprises exhibit a clear dominance in the market on account of their more extensive and complex supply chains that require robust analytics solutions to manage effectively.

By Industry Vertical:

• Automotive
• Food and Beverages
• Healthcare and Pharmaceuticals
• Manufacturing
• Retail and Consumer Goods
• Transportation and Logistics
• Others

Manufacturing holds the biggest market share, driven by the rising need for supply chain optimization in manufacturing to reduce costs, improve production efficiency, and ensure timely product delivery.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America enjoys the leading position in the supply chain analytics market, which can be attributed to its high adoption of advanced technologies and a well-developed logistics and supply chain infrastructure.

Global Supply Chain Analytics Market Trends:

Demand forecasting and predictive analytics are gaining traction as companies are seeking to optimize inventory levels, reduce stockouts, and improve overall supply chain efficiency.

Companies are also integrating sustainability and environmental, social, and governance (ESG) factors into their supply chain analytics to reduce carbon footprints, improve ethical sourcing, and enhance their brand reputation.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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This release was published on openPR.