The global supply chain analytics market was valued at USD 4.46 billion in 2020 and is expected to grow at a CAGR of 17.5% during the forecast period. The rapid growth of the business data among diverse industries such as retail, manufacturing, transportation, etc., coupled with the increasing market demand for cloud-based SCA solutions, is driving the market growth. Additionally, supply chain analytics assists in inventory forecasting, growing productivity, decreasing the wastage of resources and enhancing customer relationships. Moreover, the advent of technologies and the rising awareness regarding the availability of supply chain analytics tools are creating lucrative supply chain analytics market growth across the globe.
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The widespread COVID-19 impacts the global economy in various ways and challenges various enterprises to sustain their business activities in the worldwide market. This pandemic strengthens the market demand of the source cable solutions for supporting their business. The implementation of SCA aids organizations in classifying tasks that need products or times and immediate attention, which is likely to run out shortly. SCA players are actively participating in the source chain analytics market and providing solutions to diminish the negative impact of the pandemic, which consequently manages the gaps between demand and supply effectively. Thus, the outbreak of the COVID-19 pandemic has positively impacted the supply chain analytics market.
The rising penetration of the cloud-based supply chain is fueling the source chain analytics market growth around the world. The usage of cloud-based solutions assists in tracking and analyzing the whole activities of the supply chain in the supply chain analytics market ecosystem. In addition, the significant characteristics of the cloud are its ease to use and simple integration, agility, cost-effectiveness, scalability, and planning. These factors gain huge traction among the supply chain management solution provider, which fuels the market demand.
Furthermore, in various sectors, organizations are investing in digitalizing their business models and enhancing their operational & supply chain efficiencies that foster the market of supply chain analytics. Besides, the shifting focuses on advanced planning processes that include operations planning & integrated sales leads to the growing adoption of the SCA. Thus, the increasing requirement for estimating demand & supply and the real-time analysis by both SMEs and large enterprises creates the increasing penetration of the market of supply chain analytics in the upcoming scenario.
The market is primarily segmented on the basis of solution, service, deployment, end-use, and region.
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The professional service segment in the supply series analytics market is the leading segment in terms of revenue generation in the year 2020. The professional service providers present specific data regarding the rising market demand or analysis and protect critical information. Professional service is essential for ensuring existing systems align with the new methods for evading the chances of data loss or theft. In addition, acquiring the guidance of professionals regarding developing technologies and for the analysis and safeguarding of crucial data leads to the growing market demand of the segment across the globe.
The support and maintenance segment is estimated to show the highest CAGR in the upcoming years. Third-party aids in diminishing cost while giving the proficiency of well-trained and skilled support. The execution of the supply chain analytics solutions embraces some considerable factors such as maintaining and repairing the system during damages, understanding the procedure of the software, frequently updating data, and importing and exporting data faultlessly.
Evading the consideration of these factors may create a reduction in the output. Therefore, the adoption of the service and maintenance segment increases the organization's productivity, which fosters segment growth in the foreseen period.
Geographically, North America is the most significant contributor in terms of revenue and dominates the overall global source chain analytics market. The companies are showing a higher significance towards the visual representation because of the complex nature of business operations. This facilitates easy analysis of the present state of the company's supply chain from a data perspective and allocates the ability of strategic decision-making.
Moreover, the leading manufacturers in the region already select supply chain analytics and companies launching upgraded products, leading to the region's growth. For instance, in September 2020, Oracle Corp. introduced its updated Oracle Fusion Cloud Supply Chain & Manufacturing (Oracle Cloud SCM). This assists the organization in creating flexible and agile supply chains that propel innovation and development.
Moreover, Asia Pacific is projected to grow at the highest pace across the globe in the upcoming years. The growing awareness regarding the benefits of analytics solutions and rising manufacturing activities in the region contribute to regional growth. In addition, the rising adoption of the latest technologies and increasing expenditures are coupled with the booming number of Small and Medium-sized Enterprises (SMEs). Thus, these factors are gaining significant prominence across the region in the near future.
Key global market players operating in the market are Accenture, Aera Technology, American Software, Inc, Antuit Holdings Pte. Ltd., Axway, Blue Yonder Group, Inc., BRIDGEi2i Analytics Solutions, Capgemini, Cloudera, Inc., Domo, Inc., Genpact, IBM, Infor, Kinaxis, Lockheed Martin Corporation, Manhattan Associates, MICROSTRATEGY, Oracle, QlikTech International AB, Rosslyn Data Technologies, SAP, SAS Institute Inc., Savi Technology, and Voxware
Market size value in 2020
USD 4.46 billion
Revenue forecast in 2028
USD 15.61 billion
17.5% from 2021 - 2028
2016 - 2019
2021 - 2028
Revenue in USD million/billion and CAGR from 2021 to 2028
By Solution, By Service, By Deployment, By End-User, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Accenture, Aera Technology, American Software, Inc, Antuit Holdings Pte. Ltd., Axway, Blue Yonder Group, Inc., BRIDGEi2i Analytics Solutions, Capgemini, Cloudera, Inc., Domo, Inc., Genpact, IBM, Infor, Kinaxis, Lockheed Martin Corporation, Manhattan Associates, MICROSTRATEGY, Oracle, QlikTech International AB, Rosslyn Data Technologies, SAP, SAS Institute Inc., Savi Technology, and Voxware