Supply Chain Analytics Market size is poised to reach USD 72 Billion by the end of 2035, growing at a CAGR of 22.8% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of Supply Chain Analytics was USD 6 Billion. The reason behind the growth is impelled by the growing e-commerce sector. Online shopping has gained immense popularity and with that consumer expectations are also evolving. Therefore, with the rise of e-commerce and omnichannel retail, customers expect faster and more efficient delivery of products.
Currently, more than 20% of people worldwide shop online, and by 2021, retail eCommerce sales may reach over USD 4 trillion.
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~22.8% |
|
Base Year Market Size (2022) |
~ USD 6 Billion |
|
Forecast Year Market Size (2035) |
~ USD 72 Billion |
|
Regional Scope |
|
Growth Drivers
Challenges
End-User (Automotive, Energy & Utilities, Transportation, Healthcare)
The automotive segment is estimated to hold 35% share of the global supply chain analytics market in the coming years owing to the growing automotive sector. The automotive industry is vulnerable to supply chain disruptions, which can have a significant impact on production and revenue.
According to a report, supply chain disruptions cost the automotive sector nearly USD 56 billion in the year 2020.
Deployment (On-Premise, Cloud)
The cloud segment is set to garner a notable share of roughly 60% shortly led by cost efficiency and scalability of cloud services. Cloud-based supply analytics can be more cost-efficient than traditional on-premises solutions. With cloud-based solutions, companies can avoid the upfront cost of hardware, and software and instead pay for services on a subscription basis. This can make supply chain analytics more accessible to smaller companies and those with limited budgets.
Cloud-based supply chain analytics solutions can be easily scaled up or down as needed providing companies with greater flexibility and agility. This is particularly important in the context of rapidly changing supply chain dynamics, where companies need to be able to adapt quickly to new market conditions. Cloud-based supply chain analytics solutions can offer improved data security compared to on-premises solutions.
Our in-depth analysis of the global market includes the following segments:
|
Deployment |
|
|
End-User |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this Report
APAC Market Forecast
Supply chain analytics market in Asia Pacific is predicted to account for the largest share of 35% by 2035 impelled by the growing promotion of digital transformation. Governments in the region are increasingly focused on promoting digital transformation in their economies, which includes the adoption of supply chain analytics solutions.
For instance, the Singapore government has launched several initiatives to promote the adoption of Industry 4.0 technologies in the country.
North American Statistics
The North America supply chain analytics market is estimated to be the second largest, during the forecast timeframe led by growing focus on sustainability. Market players in North America are increasingly focused on sustainability in their supply chains, with many investing in solutions to reduce waste and carbon emissions.
European Market Analysis
Also, the market in the Europe, is poised to hold significant share by the end of 2035 driven by stringent regulatory compliance. For instance, under a new proposed rule, companies with headquarters in the EU are subjected to strict supply chain due diligence requirements, which would be relevant to both EU and non-EU enterprises. Further, to adhere to these regulations there is an increase in demand for supply chain analytics in the region
Author Credits: Abhishek Verma, Hetal Singh
Ans: Ans: Growing e-commerce sector and the growing focus on corporate social responsibility (CSR) initiatives are the major factors driving the growth of the market.
Ans: Ans: The market size of Supply Chain Analytics is anticipated to attain a CAGR of 22.80% over the forecast period, i.e., 2023 – 2035.
Ans: Ans: The major players in the market are IBM Corporation, Oracle Corporation, Kinaxis Inc., Micro Strategy Inc., Tableau Software, LLC, SAS Institute Inc., Capgemini SE, Genpact Ltd., Accenture plc., Hitachi, Ltd., Fujitsu Limited.
Ans: Ans: The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?