According to a report, “ Supply Chain Analytics Market Size, Share, & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2019 - 2025 ”, published by Grand View Research, Inc., The supply chain analytics held a market share of USD 3.4 billion in 2018 and is anticipated to attain a CAGR of 16.4% over the forecast period of (2019 – 2025). Supply chain analytics help in data analysis in real time and thus help the organizations and enterprises improve decision making, optimality, and efficiency. With the help of these analytics solutions, companies can forecast planning of stocks, shipping transport, estimate warehouse capacity, and other. These analytics also help companies determine and estimate the planning of stocks, available shipping transport, warehouse capacity, etc.
Various benefits offered by these solutions include business data management and forecasting accuracy that are driving the growth of the market. Industries that find applications of these solutions include transportation, manufacturing, retail, and healthcare, among others. These companies are using these solution to convert raw data into meaningful insights.
Owing to enhanced decision-making capabilities, companies are particularly adopting these solutions to enhance their organizational infrastructure, technology, enterprise resource management, and strategic alliances. Supply chain analytics solutions help companies in leveraging growth, accelerating the procured insights, optimizing the return on investment, facilitate better strategic decision making, and strengthening their market position.
Moreover, increasing adoption of mobile-based solutions are leading to new opportunities for the players in the market. Elevated warehousing costs, inefficient supplier networks, and incorrect forecasts are some of the major drivers of the industry.
Data security poses a major concern, which is expected to restrict the growth of the market over the forecast period. Unethical hacking activities and Man-in-the-Middle (MITM) attacks are some of the common cyber threats. In order to counter the threats from unauthorized entities and hackers, companies are inclined to focus on data prevention by isolating critical machines from external networks.
North America held a significant share of the market in terms of revenue in 2018 due to several supply chain analytics solutions providers in the region.
Asia Pacific is anticipated to grow considerably over the forecast period on account of increasing awareness regarding the advantages of analytics solutions among enterprises. Moreover, rapidly growing small & mid-size businesses (SMBs), usage of latest technologies, and increasing expenditure on its implementation to expand their businesses is contributing to the market growth.
Leading companies in the market are investing in sales channels to enhance their existing market shares. The companies are also inclined to enter into strategic partnerships with industry vendors, which is helping them strengthen their presence in the industry. Companies are largely investing in R&D in order to develop cost-effective and secure supply chain analytics solutions.
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Supply chain analytics solutions can help enterprises achieve growth, enhance profitability, and increase market shares by utilizing the derived insights for making strategic decisions. These solutions can also offer a holistic view of the supply chain and help in enhancing sustainability, reducing inventory cost, and accelerating the time-to-market for products in the long run.
Factors such as shortening product life cycles, low supply chain visibility, ineffective supplier networks, elevated warehousing costs, redundant forecasts, and fluctuating customer demands are also necessitating supply chain optimization, thereby driving the growth of the market.
Improved outcomes and cost-effectiveness of the supply chain management resulting from the adoption of supply chain analytics is expected to encourage the adoption of supply chain analytics solutions in various end-use applications, such as retail & consumer goods, healthcare, manufacturing, among others. The ability of supply chain analytics to enable effective and efficient management of end-to-end supply processes is expected to propel the growth of the supply chain analytics solution over the forecast period.
Further key findings from the study suggest:
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The sales & operations analytics segment generated the highest revenue in 2018 owing to the growing use of machine learning in supply chain analytics solution to dissect and aggregate data and produce predictive, descriptive, and prescriptive insights.
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The professional segment is dominate the market and maintain its dominance over the forecast period. The growing automation of professional services due to the adoption of big data and analytics coupled with the increasing demand for improved mobility among service consultants is expected to propel the growth of the segment.
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Cloud deployment is anticipated to register the highest CAGR of 17.9% from 2019 to 2025. The cloud-based solutions allow businesses to access data across connected devices at any point which increase scope for customization and enable implementation of analytical tool across multiple business channel.
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The large enterprise segment dominated the market in 2018 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to rising demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making.
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The high technology product segment is expected to grow at the highest CAGR of 19.7% over the forecast period. This growth can be attributed to increasing demand for advanced technology products and increasing import and export of high technology products worldwide.
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North America is expected to continue its dominance the market over the forecast period leveraging the presence of a large number of supply chain analytics service providers in the region.
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Accenture PLC, Aera Technology, Birst, Inc., Capgemini SA, Genpact Limited, IBM, JDA Software Group, Inc., Kinaxis, Lockheed Martin Corporation, Maersk Group, and Manhattan Associates, Inc. are some of the key market incumbents of the supply chain analytics market
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End-use Insights
Organizing an efficient supply chain is turning out to be imperative as the online retail industry continues to expand and retailers thrive to ensure seamless convenience for buyers. This is expected to propel the growth of the market over the forecast period. The growing e-commerce industry coupled with integration of big data and machine learning into supply chain analytics is increasing the efficiency of supply chain. This is expected to propel the growth of the retail & consumer goods segment over the forecast period.
Manufacturing companies are under pressure to ensure product availability and timely delivery while retaining their margins at a time when the rising demand shows no signs of abating. Supply chain analytics solutions can help in improving performance as they provide access to real-time data across the value chain and also reflect the updates made to any region or any process throughout the organization in real time.
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Grand View Research has segmented the global supply chain analytics market based on solution, service, deployment, enterprise size, end-use, and regions:
Solution Outlook (Revenue, USD Million; 2014 - 2025)
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Logistics Analytics
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Manufacturing Analytics
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Planning & Procurement
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Sales & Operations Analytics
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Visualization & Reporting
Service Outlook (Revenue, USD Million; 2014 - 2025)
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Professional
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Support & Maintenance
Deployment Outlook (Revenue, USD Million; 2014 - 2025)
- Cloud
- On-premise
Enterprise Size Outlook (Revenue, USD Million; 2014 - 2025)
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Large Enterprise
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Small & Medium Enterprises
End-use Outlook (Revenue, USD Million; 2014 - 2025)
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Retail & Consumer Goods
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Healthcare
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Manufacturing
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Transportation
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Aerospace & Defense
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High Technology Products
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Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
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North America
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U.S.
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Canada
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Europe
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U.K.
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Germany
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Asia Pacific
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China
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India
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Japan
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Latin America
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Brazil
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Middle East & Africa (MEA)
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