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Supply Chain Security Market Trends

Report ID: GMI5498
Published Date: Sep 2024
Report Format: PDF

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Supply Chain Security Market Trends

The adoption of advanced technologies like artificial intelligence and blockchain is increasingly shaping the security landscape of supply chains. Businesses are focusing on integrating real-time monitoring and predictive analytics to enhance threat detection and response. Additionally, there is a growing emphasis on compliance with stringent regulations and improving transparency to address vulnerabilities. These technological advancements and regulatory pressures are driving investments in more robust and adaptable security solutions across diverse industries.

For instance, in March 2024, Oracle introduced new capabilities under its Smart Operations initiative, designed to boost the efficiency of global supply chain operations. Integrated within the Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) suite, this initiative utilizes advanced technologies like artificial intelligence (AI) to enhance productivity, quality, and operational visibility.

Furthermore, the rise of digital transformation is accelerating the shift towards cloud-based security solutions. Organizations are leveraging cloud platforms for scalable and flexible security management, enabling real-time visibility and rapid response to threats. This trend is complemented by increased collaboration with third-party security providers to ensure comprehensive protection and compliance across global supply chains.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of supply chain security reached USD 2.1 billion in 2023 and will grow at a 10% CAGR between 2024 and 2032, fueled by increasing global trade and the need to protect complex supply networks from cyber threats and physical risks.

The large enterprises segment captured 72% share in 2023, driven by their extensive and intricate supply chains, which require advanced security measures to protect against various threats.

North America market achieved 38% share in 2023, attributed to its extensive and complex supply networks, high levels of digitalization, and significant investments in security technologies.

Major players operating in the industry are IBM Corporation, ORBCOMM, Oracle Corporation, Tive, Roambee, Sensitech, and LogTag Recorders, among others.