The global supply chain analytics market
size is expected to reach USD 9,875.2 million by 2025, registering a CAGR of
16.4% from 2019 to 2025. The growing need to manage a large amount of business
data and use derived insights is triggering the demand for supply chain
analytics. The increasing awareness among enterprises regarding the benefits
offered by supply chain analytics is instrumental in accelerating the demand
for analytic solutions in order to improve perceptibility levels across the
entire supply chain enablers.
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Supply chain analytics solutions can
help enterprises achieve growth, enhance profitability, and increase market
shares by utilizing the derived insights for making strategic decisions. These
solutions can also offer a holistic view of the supply chain and help in
enhancing sustainability, reducing inventory cost, and accelerating the
time-to-market for products in the long run.
Factors such as shortening product life
cycles, low supply chain visibility, ineffective supplier networks, elevated
warehousing costs, redundant forecasts, and fluctuating customer demands are
also necessitating supply chain optimization, thereby driving the growth of the
market.
Improved outcomes and cost-effectiveness
of the supply chain management resulting from the adoption of supply chain
analytics is expected to encourage the adoption of supply chain analytics
solutions in various end-use applications, such as retail & consumer goods,
healthcare, manufacturing, among others. The ability of supply chain analytics
to enable effective and efficient management of end-to-end supply processes is
expected to propel the growth of the supply chain analytics solution over the
forecast period.
Further
key findings from the study suggest:
• The sales & operations analytics
segment generated the highest revenue in 2018 owing to the growing use of
machine learning in supply chain analytics solution to dissect and aggregate
data and produce predictive, descriptive, and prescriptive insights.
• The professional segment is dominate
the market and maintain its dominance over the forecast period. The growing
automation of professional services due to the adoption of big data and
analytics coupled with the increasing demand for improved mobility among
service consultants is expected to propel the growth of the segment.
• Cloud deployment is anticipated to
register the highest CAGR of 17.9% from 2019 to 2025. The cloud-based solutions
allow businesses to access data across connected devices at any point which
increase scope for customization and enable implementation of analytical tool
across multiple business channel.
• The large enterprise segment dominated
the market in 2018 and is expected to maintain its dominance over the forecast
period. This dominance can be attributed to rising demand for robust monitoring
solutions and automation capabilities for resource allocation and strategic
decision-making.
• The high technology product segment is
expected to grow at the highest CAGR of 19.7% over the forecast period. This
growth can be attributed to increasing demand for advanced technology products
and increasing import and export of high technology products worldwide.
• North America is expected to continue
its dominance the market over the forecast period leveraging the presence of a
large number of supply chain analytics service providers in the region.
• Accenture PLC, Aera Technology, Birst,
Inc., Capgemini SA, Genpact Limited, IBM, JDA Software Group, Inc., Kinaxis,
Lockheed Martin Corporation, Maersk Group, and Manhattan Associates, Inc. are
some of the key market incumbents of the supply chain analytics market
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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