Rising Cargo Theft Incidences Drive Growth In Supply Chain Security Market Driver: A Major Catalyst in the Evolution of the Supply Chain Security Market in 2025

How Is the Supply Chain Security Market Projected to Grow, and What Is Its Market Size?
Rapid expansion has been observed in the supply chain security market in the past few years. The market size, currently standing at $1.95 billion in 2024, is projected to rise to $2.16 billion in 2025, growing at a compound annual growth rate (CAGR) of 11.3%. The historical growth can be linked to the escalation in cybersecurity threats, strict regulatory norms, disruptions in the supply chain, concerns related to data safety, and the amplified intricacies and susceptibilities in worldwide supply chains.

Anticipations for the supply chain security market size pointed to a robust increase in the upcoming years. The projection is for the market to reach $3.27 billion by 2029, expanding at a compound annual growth rate (CAGR) of 10.9%. The expected growth during the forecast period can be linked to factors such as the prevention of counterfeiting, dedication to sustainability and moral sourcing, as well as resilience planning, escalated use of cloud services, and the fast expansion of E-commerce. Key trends to watch during the forecast period encompass an increasing utilization of blockchain for safe and transparent supply chain management, a rising deployment of IoT devices and sensors, the integration of artificial intelligence and machine learning, alongside the embrace of collaborative security strategies.

What Are the Key Drivers Behind the Growth of the Supply Chain Security Market?
The escalation of cargo theft cases is anticipated to stimulate the progression of supply chain security in the future. The illegal appropriation of goods from transport vehicles, warehouses, or logistics facilities while they are in transit or at rest is referred to as cargo theft. To thwart such thefts, supply chain security recognises weak points, puts preventive strategies in place, reacts quickly to likely perils, guards merchandise, and keeps up the integrity of the supply chain. An example is during November 2023, the National Insurance Crime Bureau, a non-profit entity based in the United States, documented 582 instances of cargo theft throughout America and Canada in the second quarter of 2023. This represented a 57% surge when juxtaposed with the equivalent timeframe in 2022. As a result, the escalating frequency of cargo theft events is fuelling the expansion of the supply chain security market.

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Who Are the Major Industry Players Fueling Supply Chain Security Market Expansion?
Major companies operating in the supply chain security market report are International Business Machines Corporation (IBM); Cisco Systems Inc.; Oracle Corporation; Broadcom Inc.; Google Cloud; NXP Semiconductors N.V.; VMware LLC; Palo Alto Networks Inc.; Fortinet Inc.; F5 Networks Inc.; Check Point Software Technologies Ltd.; CrowdStrike Holdings Inc.; McAfee LLC; Elastic N.V.; Proofpoint Inc.; Zscaler Inc.; SonicWall Inc.; SailPoint Technologies Inc.; Bitdefender S.R.L.; FireEye Inc.; RSA Security LLC; Imperva Inc.; Orbcomm Inc.; Sensitech Inc.; SafeTraces Inc.

Which Key Developments Are Influencing the Supply Chain Security Market?
Leading firms in the supply chain security market, such as Spectra Assure, are introducing innovative solutions aimed at enhancing their competitive positioning. Spectra Assure offers an exceptional level of protection against software supply chain attacks, designed for both software makers and corporate software purchasers. For example, in February 2024, Spectra Assure was launched by ReversingLabs, a network and computer security corporation based in the US. The software uses sophisticated binary analysis combined with AI-powered algorithms to deeply analyze and test each binary code. This approach results in an in-depth comprehension of the software's behavior and potential security threats at machine level. It can accurately identify malware and interference within the software packages, covering parts provided by first, second, and third parties with unparalleled defense against software supply chain attacks for both the producer and the purchaser.

How Is the Segmentation of the Supply Chain Security Market Defined?
The supply chain security market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Security Type: Data Protection, Data Visibility And Governance, Other Security Types
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Vertical: Healthcare And Pharmaceuticals, Retail And E-commerce, Automotive, Transportation And Logistics, Manufacturing, Other Verticals

Subsegments:
1) By Hardware: Security Cameras, RFID And Barcode Scanners, Access Control Systems, GPS Tracking Devices, Alarm Systems
2) By Software: Security Management Software, Risk And Compliance Management Software, Tracking And Monitoring Software, Data Encryption Software, Threat Detection And Response Software
3) By Services: Consulting Services, Integration Services, Managed Security Services, Training And Support Services, Incident Response Services

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What Is the Leading Region in the Supply Chain Security Market?
North America was the largest region in the supply chain security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the supply chain security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Supply Chain Security Global Market Report?

- Market Size Analysis: Analyze the Supply Chain Security Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Supply Chain Security Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Supply Chain Security Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Supply Chain Security Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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