The region's supply chain analytics market is expanding as a result of the fast-paced infrastructure development, widespread acceptance of digital technologies, and rise in real-time data in supply chain organisations. The region's supply chain analytics market is growing because of the state-of-the-art offerings from various suppliers who specialize in providing dashboards for analysis to make calculated business decisions.
The global Supply Chain Analytics Market size is projected to grow from USD 5.2 billion in 2022 to USD 13.5 billion by 2027, at a CAGR of 21.0% during the forecast period, according to report published by MarketsandMarkets.
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The market for supply chain analytics is divided into two segments: cloud and on-premises. Over the course of the projection period, the cloud deployment mode is expected to witness a higher CAGR and a larger market size. In comparison to the on-premises strategy, the cloud deployment option is being adopted more swiftly because of its cost, scalability, and flexibility. It provides an organization more control over the systems, infrastructure, and server, enabling them to be configured to satisfy particular business requirements. The cloud deployment approach provides better control, reduced risks, and enhanced performance. It also has features that are affordable, adaptable, and user-friendly. These solutions require less maintenance, are always accessible from anywhere at any time, and are simpler to physically set up.
The supply chain analytics market share is divided into two segments: major organizations and SMEs. Over the course of the projection period, the SMEs' CAGR is anticipated to be at its greatest. It is anticipated that the supply chain analytics market for SMEs will expand because of its affordability, scalability, and flexibility. Products and services related to supply chain analytics would increase operational effectiveness, create revenue for SMEs, and yield the required outcomes. SMEs still face three main challenges, though: funding, knowledge, and scalability.
Due to the expansion of e-commerce and real-time customer analytics, data is becoming an essential part of the supply chain ecosystem. There is a need for security since the amount of data is expanding so quickly. Organizations and governments are concentrating on a strong defence architecture in response to the rising incidence of cyberattacks and a developing cyberwar in the area. As Industry 4.0 and digital technologies develop, data is offering businesses a competitive edge, helping to address a number of supply chain sector challenges. Organizations may link and monitor every stage of the supply chain process, freely share data between departments, and get insights to improve efficiency and decision-making by implementing a digital supply chain strategy.
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Market Players
Major vendors in the global supply chain analytics market are SAP (Germany), Oracle (US), IBM (US), SAS Institute (US), Software AG (Germany), MicroStrategy (US), Tableau (US), Qlik (US), TIBCO (US), Cloudera (US), Logility (US), Savi Technology (US), Infor (US), RELEX Solutions (Finland), TARGIT(Denmark), Voxware (US), The AnyLogic Company (US), Antuit (US), Axway (US), AIMMS (Netherlands), BRIDGEi2i (India), Domo (US), Datameer (US), 1010data(US), Rosslyn Analytics(UK), Manhattan Associates (US), Salesforce (US), Zebra Technologies (US), Dataiku (US), Intugine Technologies (India), Lumachain (Australia), Hum Industrial Technology (US), Pafaxe (UK), SS Supply Chain Solutions (US), and DataFactZ (US).
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