Supply Chain Analytics Market - Business-Opportunities and Growing Rapidly with Significant Trends by 2030

An increase in the need for improving operational and supply chain efficiencies, a rise in adoption of Big Data technologies, and supporting initiatives by transportation & logistics for Big Data projects fuel the growth of the global supply chain analytics market.

On the other hand, inaccuracies in data and a lack of skilled IT staff hamper the market growth. Moreover, growth in awareness of benefits associated with supply chain analytics and a rise in demand for cloud-based supply chain analytics solutions are expected to usher in a plethora of opportunities in the coming years.

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Based on component, the software segment held the highest market share in 2019, accounting for nearly two-thirds of the total share of the global supply chain analytics market, and is expected to maintain its dominant share during the forecast period.

This is attributed to the advantages offered by supply chain analytics solution such as reduced inventory costs using smart demand sensing, increased responsive transport logistics, new sales & operations execution (S&OE) workflows, optimization of work plans and more.

However, the services segment is expected to witness the highest CAGR of 17.9% from 2020 to 2027, owing to its adoption to ensure effective functioning of software and platforms throughout the predictive analysis process.

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Based on industry vertical, the retail and consumer goods segment contributed to the highest market share in 2019, accounting for more than one-fourth of the total share of the global supply chain analytics market, and is projected to maintain its leadership status by 2027.

This is due to high demand for advanced solutions to manage the supplier network, Omni-channel sales, and risk management in supply chain of retail companies.

However, the automotive segment is expected to grow at the highest CAGR of 24.9% during the forecast period, owing to increased adoption of automation & following Industry 4.0 trend, especially in Europe.

The global supply chain analytics market across North America, contributed to the highest share in terms of revenue, holding around two-fifths of the total market share in 2019. Growth in e-commerce along with rising government funding to support big data projects in the U.S. drives the market in this province.

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However, the Asia-Pacific region is estimated to manifest the fastest CAGR of 20.8% from 2020 to 2027, owing to the increase in adoption of advanced analytics across multiple industries and the growing use of supply chain analytics to gain a competitive edge in the business as well as for meeting customer expectations propel the market growth in the region.

The key players operating in the global supply chain analytics market analysis include Oracle, SAP SE, IBM, SAS Institute, Microstrategy, Tableau, Qlik, Infor Inc., Kinaxis Inc., and Manhattan Associates.

Impact of Covid-19 on Supply Chain Analytics Market:

• The demand for supply chain analytics has increased across various industries during the Covid-19 outbreak.

• In addition, the demand for supply chain analytics is expected to hike post-pandemic as well, owing to the fact that it would enable the companies to examine business continuity scenarios.

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