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The global supply chain analytics market is estimated to grow by USD 10,121.6 million at a Compound annual growth rate (CAGR) of 20.07% between 2022 and 2027. The growth of the market depends on several factors, including the increased need to improve business processes, the rising demand for omnichannel retailing, and the growing need to improve visibility.
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The increased need to improve business processes is notably driving the market growth. Supply chain analytics enhances business productivity by using several predictive mechanisms and risk-averting models. It helps companies obtain growth opportunities and reduce errors and failure rates in products and services. Thus, supply chain analytics has become a priority for several industrial organizations, which is driving its demand among various manufacturing companies.
A domestic coordinates business functions in an organization by focusing on integrating supply and demand management in the same country. It also includes the tracking and coordination of the flow of components from the source to the destination. Supply chain analytics helps organizations gain a holistic view of the entire chain, measure its performance via customized key performance indicators (KPIs), and identify demand patterns. Companies invest in technologies that help forecast the demand for products in the future. Thus, the growing demand for optimizing and increasing investments in technology are likely to boost the growth of the market during the forecast period.
The increased use of predictive analytics in the supply chain is a key trend influencing the market growth. Predictive modeling techniques can be customized for a group of customers or an individual customer. This leads to accurate and efficient solutions, which improves the overall efficacy of production while reducing costs.
Predictive analytics helps in the efficient management of the supply chain. It is focused on making projections about relevant events in the future. For example, the vendor-managed inventory (VMI) process is a predictive analytics approach, wherein the customer defines the inventory thresholds. After planning the production and transport of the goods, the supplier informs the customer about the planned delivery. This helps suppliers to manage their inventory effectively and efficiently. Thus, the benefits of predictive analytics are expected to support the market trends during the forecast period.
The implementation challenges may impede the market growth. Supply chain networks are becoming interconnected at a global level, which makes the application of analytics difficult. The coordination of demand and capacities between suppliers and customers is complex. In addition, the process involves many key variables, which makes optimization less feasible. Companies have their own planning and data storage systems, which can be incompatible with end-to-end processes and the full transparency of data. Supply chains have become complex over the last few years, as many suppliers have customers across the world. The B2B standards are also evolving, which causes SCM software vendors to support different business processes within a customer. This has increased the complexity of SCM software solutions, which will negatively affect the market over the forecast period.
The market share growth by the retail segment will be significant during the forecast period. The retail segment is in the growth phase, with the emergence of technologies such as big data, IoT, and workflow automation. Vendors in this segment are adopting analytics to stay competitive in the market.
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The retail segment showed a gradual increase in the market share of USD 1,282.44 million in 2017 and continued to grow by 2021. The use of analytics is expected to increase during the forecast period, as digital content is being generated across various platforms. The use of analytics solutions helps in content collaboration between vendors, retail stores, suppliers, wholesalers, and end-consumers. Supply chain analytics helps in delivery management, order details management, product sourcing, and vendor management. The adoption enables the retail industry to simplify operations and provide improved services to customers. Thus, the demand is increasing in the retail sector.
On-premises supply analytics solutions are favored for their superior system security over cloud-based options. They are deployed with robust IT infrastructure directly on organizations' premises, providing control over networking systems and data. Vendors like SAP, Oracle, and Infor offer such solutions for planning, warehouse management, and transportation management. Large enterprises, prioritizing functionality and data security, drive the adoption of on-premises solutions, leading to the segment's growth during the forecast period.
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North America is estimated to account for 39% of the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the market in North America is driven by factors such as the strong presence of global retailers and providers. Hence, there is high supply and demand in the region. The region has well-established distribution channels for all types of retail companies. The retail industry provides a competitive environment that enables strong business operations and innovations that intensify efficiency and reliability. The US is a leading country in the market in North America. The need to increase operational efficiency, reduce the cost of maintaining in enterprises, and modernize logistics and warehouse operations is driving the demand in the US.
The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Antuit - The company offers advanced supply chain analytics, which uses artificial intelligence to fill in the gaps.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Supply Chain Analytics Market witnesses dynamic growth fueled by diverse industries, from automotive to technology, leveraging analytics solutions to streamline operations. Accenture PLC and EINR AS lead in providing advanced analytics services, integrating SAP capabilities and mobile-based solutions to meet the evolving needs of logistics solution providers and OEM customers. Amidst growing cyber threats and data breaches, companies prioritize investments in sales & operations analytics, logistics analytics, and planning & procurement segments, supported by professional services and robust support & maintenance offerings. Cloud-based solutions gain traction, with IoT devices enhancing real-time insights. While large enterprises drive adoption, small & medium enterprises (SMEs) increasingly recognize the value, particularly in regions like Asia Pacific, Middle East & Africa (MEA), and Mexico, fostering a vibrant ecosystem for analytics providers like Snowflake with its Manufacturing Data Cloud.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Supply Chain Analytics Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.07% |
Market growth 2023-2027 |
USD 10121.6 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.09 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 39% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
American Software Inc., Antuit Inc., Axway Software SA, Cloudera Inc., Datameer Inc., Infor Inc., International Business Machines Corp., Manhattan Associates Inc., MicroStrategy Inc., Oracle Corp., QlikTech international AB, RELEX Oy, SAP SE, SAS Institute Inc., Savi Technology Inc., Software AG, Tableau Software LLC, TARGIT AS, TIBCO Software Inc., and Voxware Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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