Supply Chain Analytics Market is Booming Worldwide to Reach $16.82 Billion by 2027 | Growth Business Opportunity

The global supply chain analytics industry was valued at $4.53 billion in 2019, and is projected to reach $16.82 billion by 2027, growing at a CAGR of 17.9% from 2020 to 2027.

Asia-Pacific is anticipated to exhibit highest growth rate during the forecast period, owing to rise in investment on Big Data analytics & digitalization. Furthermore, surge in usage of supply chain analytics in the retail & e-commerce industry to analyze demand patterns & forecast, and large presence of manufacturing, retail companies are further boosting the demand of supply chain analytics market.

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Supply chain analytics is instrumental in enhancing operational efficiency and effectiveness through data-driven decision-making across strategic, operational, and tactical levels. It encompasses the entire value chain, spanning from sourcing and manufacturing to distribution and logistics. By leveraging data analytics, supply chain analytics facilitates improvements in productivity, reduction of wastage, accurate inventory forecasting, and enhanced customer relationship management.

Several key factors are propelling the growth of the global supply chain analytics market. The increasing adoption of Big Data analytics is a significant driver, enabling organizations to extract valuable insights from large volumes of data. Additionally, the use of predictive modeling to optimize performance is on the rise, further fueling market expansion.

Government initiatives worldwide to support big data initiatives are also contributing to market growth. Moreover, the growing investment in big data infrastructure underscores the importance of data analytics in driving operational excellence within supply chains.

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Furthermore, organizations are increasingly recognizing the need to gain a competitive advantage in the market, driving greater adoption of supply chain analytics solutions. By harnessing data analytics capabilities, businesses can streamline their operations, reduce costs, and enhance customer satisfaction, thereby gaining a competitive edge.

The convergence of factors such as the proliferation of Big Data analytics, government support, and the pursuit of competitive advantage is driving robust growth in the global supply chain analytics market. As organizations continue to prioritize data-driven decision-making and operational optimization, the demand for supply chain analytics solutions is expected to remain strong.

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Region wise, the supply chain analytics market size was dominated by North America in 2019. Factors such as presence of leading market vendors developing supply chain analytics in North America and high spending on Big Data technology in this region are the major drivers for the supply chain analytics market growth. In addition, the deployment of supply chain analytics has increased in each stage of the retail process to predict market demands, manage inventory, and reduce operational costs, which is anticipated to significantly contribute toward the market growth.

The key players operating in the global supply chain analytics industry include Oracle, SAP SE, IBM, SAS Institute, MicroStrategy, Tableau, Qlik, Infor Inc., Kinaxis Inc., and Manhattan Associates.

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