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(Wireless-NewsWire.Com, July 27, 2023 ) The region's supply chain analytics market is expanding as a result of the fast-paced infrastructure development, widespread acceptance of digital technologies, and rise in real-time data in supply chain organisations. The expansion of the supply chain analytics market in the area is attributed to the cutting-edge products provided by different vendors that concentrate on supplying dashboards for analysis to make strategic business choices.
The global Supply Chain Analytics Market size is projected to grow from USD 5.2 billion in 2022 to USD 13.5 billion by 2027, at a CAGR of 21.0% during the forecast period, according to report published by MarketsandMarkets.
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Cloud segment to account for higher CAGR during the forecast period
The supply chain analytics market is bifurcated on the basis of cloud and on-premises. The market size of the cloud deployment mode is estimated to be larger and projected to have a higher CAGR during the forecast period. Due to its flexibility, scalability, and affordability, the cloud deployment approach is being adopted more quickly than the on-premises strategy. It gives an organization greater control over the server, infrastructure, and systems, allowing them to be set up to meet specific business needs. The cloud deployment strategy offers improved performance, more control, and fewer dangers. It also offers characteristics that are user-friendly, versatile, and economical. These solutions are easier to set up physically, need less upkeep, and are always accessible from anywhere at any time.
SMEs segment to account for higher CAGR during the forecast period
The supply chain analytics market is bifurcated on the basis of large enterprises and SMEs. The CAGR of the SMEs is estimated to be highest during the forecast period. Due to its flexibility, scalability, and lower costs, the supply chain analytics market for SMEs is predicted to grow. Supply chain analytics products and services would generate income for SMEs, produce the necessary results, and boost operational effectiveness. But still SMEs have three major obstacles, including finance, expertise, and scalability.
APAC to hold higher CAGR during the forecast period
Due to the expansion of e-commerce and real-time customer analytics, data is becoming an essential part of the supply chain ecosystem. There is a need for security since the amount of data is expanding so quickly. Organizations and governments are concentrating on a strong defence architecture in response to the rising incidence of cyberattacks and a developing cyberwar in the area. As Industry 4.0 and digital technologies develop, data is offering businesses a competitive edge, helping to address a number of supply chain sector challenges. Organizations may link and monitor every stage of the supply chain process, freely share data between departments, and get insights to improve efficiency and decision-making by implementing a digital supply chain strategy.
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Market Players
Major vendors in the global supply chain analytics market are SAP (Germany), Oracle (US), IBM (US), SAS Institute (US), Software AG (Germany), MicroStrategy (US), Tableau (US), Qlik (US), TIBCO (US), Cloudera (US), Logility (US), Savi Technology (US), Infor (US), RELEX Solutions (Finland), TARGIT(Denmark), Voxware (US), The AnyLogic Company (US), Antuit (US), Axway (US), AIMMS (Netherlands), BRIDGEi2i (India), Domo (US), Datameer (US), 1010data(US), Rosslyn Analytics(UK), Manhattan Associates (US), Salesforce (US), Zebra Technologies (US), Dataiku (US), Intugine Technologies (India), Lumachain (Australia), Hum Industrial Technology (US), Pafaxe (UK), SS Supply Chain Solutions (US), and DataFactZ (US).
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