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Location: United States
Supply Chain Analytics Market was valued at US$ 3.23 Bn in 2017 and is expected to reach US$ 10.20 Bn by 2026, at a CAGR of 15.47% during a forecast period.
Supply chain analytics has the power to fully transform business, specifically in the verticals like manufacturing, automotive, fast moving consumer goods, retail, and information technology sectors. Supply chain analytics helps in increasing productivity, reducing wastage, inventory forecasting, and to improve customer relationship.
Global Supply Chain Analytics Market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding supply chain analytics market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in supply chain analytics market.
The major factors driving the supply chain market include improve productivity, lower operational costs, raising the necessity to develop customer satisfaction, and achieve sustainable business growth through the optimized supply chain. Moreover, the capability of supply chain analytics tools to rise automation efficiency and artificial intelligence for driving proactive solutions is estimated to contribute the supply chain analytics market growth. Increasing need to manage a large amount of business data and use derived insights is triggering the demand for supply chain analytics. However, lack of awareness and low visibility of the real-time data is hinder the supply chain analytics market growth. Moreover, supply chain analytics could be a high-cost product for small scale and medium scale enterprises which is another factor hampering growth of the global supply chain market.
The professional segment is expected to lead the supply chain analytics services market over the forecast period. Increasing automation of professional services owing to growing adoption of big data and analytics coupled with surging demand for enhanced mobility among service consultants is composed to escalate the growth of the segment.
Cloud deployment is projected to grow at a higher CAGR during the forecast period. Cloud deployment rises flexibility and allows large-scale customization of products and services for organizations. Cloud-based deployments help in refining cost structures and setting up a control center for coordinating and arranging several components of supply chain.
North America is the largest market share during the forecast period. Enterprises in the North America have developed business intelligence and analytics adoption rate compared to those in other regions. The growing volume of information generated from enterprise applications is mostly driving the market in the region. The market in Asia Pacific is likely to register significant CAGR over the forecast period.