Home > Media & Technology > Next Generation Technologies > Analytics and Business Intelligence > Supply Chain Analytics Market
Supply Chain Analytics Market Analysis
- Report ID: GMI2024
- Published Date: Jan 2023
- Report Format: PDF
Supply Chain Analytics Market Analysis
The supply chain analytics market from retail applications segment is predicted to register over 15% CAGR till 2032. The retail sector is undergoing significant transformation with the integration of technologies, such as IoT and AI. The rise in digital shopping and automation of retail operations will proliferate the demand for supply chain analytics solutions and services. The increasing population, urbanization, and digitization are also contributing to the upsurge in retail business across developed and developing countries.
The market share from the government & defense application segment will witness lucrative expansion during the projected timeline. Big data analytics is gaining substantial demand across government and defense applications, such as the management of multi-tiered supply chains and global supplier networks. Sophisticated supply chain analytics solutions are experiencing high demand due to the growing need for enhanced visibility, cost-saving, and spend aggregation across different operational setups.
The solutions segment held more than 60% share of the supply chain analytics market in 2022. The ongoing digital transformation of the industrial sector is fostering a substantial need for cloud-based analytical solutions. Supply chain analytics solutions are gaining momentum for their actionable intelligence for enabling demand planning, inventory management, and route optimization. The growing need for real-time visibility across the supply chain for mitigating risks, preventing stockouts, and reducing procurement spending will fuel the market growth.
Supply chain analytics solutions further include manufacturing analytics, procurement analytics, logistics analytics, demand planning, inventory analytics, and others. The demand for manufacturing analytics is projected to pick significant pace with the rapid transition to cloud and IoT driven by the ingress of Industry 4.0. The emergence of disruptive technologies, such as edge computing, big data, and predictive analytics will also provide enterprises with actionable insights.
Supply chain analytics market size from large enterprises segment will expand at 15% CAGR during the forecast timeline. Large enterprises often invest large amounts of money into resources and infrastructure due to robust capital backing and high output requirements. The increasing demand for high workflow efficiencies is forcing organizations to reinforce their supply chain infrastructures for ensuring a streamlined and uninterrupted supply of inventory. Furthermore, supply chain analytics solutions allow businesses to maximize productivity and avoid delays in production, and distribution losses. Several industry players are therefore introducing innovative solutions featuring multi-functional capabilities. For instance, in November 2022, Microsoft Corp. launched the Microsoft Supply Chain Platform for users to optimize their supply chain data estate investment safely.
Asia Pacific supply chain analytics market share is expected to grow at 20% CAGR through 2032, owing to the rapid influx of small and medium-sized enterprises (SME). Several countries in the region, such as China and India are creating a promising environment for SME with favorable incentives and hefty funding, further allowing the adoption of modern technologies. For instance, in November 2022, Self-Reliant India Fund (SRIF), backed by the Indian government announced that it has earmarked more than USD 614 million for the growth and development of small businesses. Similar investments encouraging businesses and enterprises to procure the latest technologies for improved output will favour the market expansion across APAC.
Frequently Asked Questions (FAQ) :
Supply Chain Analytics Market Scope
