The global supply chain analytics market size is expected to reach USD 15.61 billion by 2028 according to a new study conducted by Polaris Market Research. The market is expected to expand at a CAGR of 17.5% from 2021-2028. Key factors projected to boost demand for the global market include increased adoption in sectors such as retail, consumer goods, automotive, manufacturing, and healthcare, among others. Rising government measures in supply chain management to rebuild the global economy from the covid-19 pandemic are driving market expansion globally. Moreover, the increasing presence of global leaders in the market and huge R&D investments are also positively impacting the market growth.
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Key Highlights of Supply Chain Analytics Market
- Based on solutions, manufacturing analytics emerged as the dominant segment and is projected to grow at a rapid rate over the forecast period. The growing healthcare industry and rising government initiatives in the manufacturing industry are fueling the manufacturing segment’s rise in the global supply chain analytics market.
- By deployment, the cloud segment accounted for the majority of the market and is predicted to witness exponential growth in the near future. The analytics in the cloud solution offers a centralized reporting solution as well as assistance with many elements of troubleshooting, use, and optimization. It provides enterprises with improved supply chain outcomes and more detailed reporting.
- In terms of services, the professional service segment registered the higher revenue growth and is expected to take this lead ahead in the coming years. Professional services are required to ensure that the new systems are compatible with the existing ones and to integrate the new with the old in order to avoid data loss or theft.
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North America is likely to hold the greatest market share and dominate the supply chain analytics market, owing to the widespread presence of significant organizations such as Oracle Corporation and IBM Corporation, as well as supply chain analytics solution creation and innovation. Major retail chains in the United States and Canada have already embraced analytics in their supply chain processes, reaping various benefits.
Companies across industries are heavily spending to increase operational and supply chain efficiencies and digitize their business models. The supply chain function’s emphasis has turned to sophisticated planning procedures, such as integrated sales, analytical demand planning, and operations planning, which are among most preferred business processes in many firms. Key players are adopting new growth strategies such as new technology development, product innovation, mergers, and acquisitions to gain market share, and business expansion in the global supply chain analytics market. Market participants such as Aera Technology, Accenture, American Software, Inc, Axway, Antuit Holdings Pte. Ltd., Blue Yonder Group, Inc., Capgemini, Cloudera, Inc., Genpact, Domo, Inc., IBM, Infor, Lockheed Martin Corporation, Kinaxis, Manhattan Associates, Oracle, MICROSTRATEGY, Rosslyn Data Technologies, QlikTech International AB, SAP, Savi Technology, SAS Institute Inc., and Voxware are some of the key players operating in the global market.
- Supply Side: Supply Chain Solutions Company
- Demand Side: Transportation Industry, Manufacturing Sector
- Regulatory Side: Association for Supply Chain Management
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Polaris Market Research has segmented the supply chain analytics market report on the basis of solution, service, deployment, end-use, and region:
Supply Chain Analytics, Solution Outlook (Revenue – USD Billion, 2016 – 2028)
- Planning & Procurement
- Sales & Operations
- Visualization & Reporting
Supply Chain Analytics, Service Outlook (Revenue – USD Billion, 2016 – 2028)
- Support & Maintenance
Supply Chain Analytics, Deployment Outlook (Revenue – USD Billion, 2016 – 2028)
Supply Chain Analytics, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)
- Retail & Consumer Goods
- Aerospace & Defense
- High Technology Products
Supply Chain Analytics, Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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