Global Supply Chain Security Market Expected to Achieve 10.1% CAGR by 2029: Growth Forecast Insights

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How Large Will the Supply Chain Security Market Size By 2025?
The market size of supply chain security has seen swift expansion in the previous years. The market, which was valued at $1.95 billion in 2024 is expected to rise to $2.16 billion in 2025, marking a compound annual growth rate (CAGR) of 11.0%. The upward trend during the historic period is due to factors such as rampant cybersecurity threats, tightening regulatory norms, disruptions in supply chain, concerns surrounding data protection, and the escalating complexity and susceptibilities in global supply chains.

How Big Is the Supply Chain Security Market Size Expected to Grow by 2029?
The market size of supply chain security is predicted to increase substantially in the upcoming years, achieving a worth of $3.17 billion in 2029 with a compound annual growth rate (CAGR) of 10.1%. This future growth can be credited to factors such as counterfeit deterrence, sustainability and ethical procurement, resilience planning, as well as the growing use of cloud services and the swift expansion of e-commerce. An anticipated trend during this forecast period includes the rising implementation of blockchain for safe and transparent supply chain management, augmented usage of IoT devices and sensors, the incorporation of artificial intelligence and machine learning, as well as collaborative security strategies.

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Which Key Market Drivers Powering Supply Chain Security Market Expansion and Growth?
The surge in cargo theft occurrences is projected to spur the expansion of the supply chain security industry. Cargo theft involves the illegal acquisition of goods or commodities from a commercial truck, a warehouse, or a transportation facility, whether in transit or in storage. Supply chain security aims to curb cargo thefts by determining vulnerabilities, implementing precautionary measures, responding promptly to possible threats, protecting goods, and ensuring the integrity of the supply chain. For example, the National Insurance Crime Bureau, a non-profit organization based in the US, reported that there were 582 recorded cargo theft incidents in the United States and Canada in November 2023's second quarter, marking a 57% increase compared to the same period in 2022. Consequently, the escalating occurrences of cargo theft are fueling the growth of the supply chain security market.

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Which Fast-Growing Trends Are Poised to Disrupt the Supply Chain Security Market?
Key players in the supply chain security market, such as ReversingLabs, a network security company based in the US, are innovating with products like Spectra Assure to achieve a competitive advantage. Launched in February 2024, Spectra Assure is a revolutionary security solution designed for software supply chains that offers unrivaled defense against software supply chain invasions for software manufacturers and crucial risk assessment for corporate software purchasers. It utilizes sophisticated binary analysis and AI-led algorithms to thoroughly examine and evaluate binary code, thus providing an intense knowledge of software operation and security risks at the machine level. This all-inclusive approach effectively identifies malware or alterations in software packages, including parts from the first, second, and third parties, offering superior protection against software supply chain threats for all users.

What Are the Emerging Segments in the Supply Chain Security Market?
The supply chain securitymarket 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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Who Are the Global Leaders in the Supply Chain Security Market?
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 are the Top Profitable Regional Markets for the Supply Chain Security Industry?
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.

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