The global supply chain analytics market size is expected to reach USD 15.61 billion by 2028 according to a new study by Polaris Market Research. The report “Supply Chain Analytics Market Share, Size, Trends, Industry Analysis Report, By Solution (Logistics Analytics, Manufacturing Analytics, Planning & Procurement, Sales & Operations Analytics, Visualization & Reporting); By Service; By Deployment (Cloud, On-premise); By End-use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The prominent factors such as growing needs for strategic decision-making regarding technology implementation and the arrival of technologies such as AI and machine learning (ML) flourish the industry growth. In addition, the growing awareness regarding the forecasting accuracy & minimization of wastage, consequential combination of business data, and optimization of the supply chain is the assistance provided by the supply chain analytics (SCA) solutions. Thus, it creates the noteworthy development of the industry around the world.
Moreover, increasing marketing strategies by the companies for expanding their business operations and geographical footprints also propel the industry demand. For instance, Icon Integration was acquired by Accenture PLC in February 2020. The acquisition is made with the aim of presents SAP digital source series solutions and Business Intelligence for developing company reach in New Zealand and Australia.
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The increasing penetration of big data technologies across the globe is a major driving factor that fuels industry growth. The growing trend of multimedia & social media, and the Internet of Things (IoT) has formed a remarkable data flow. Moreover, it is projected that by 2027 there will be 41 billion IoT devices will be available in the global industry. These IoT devices help an individual to collect, analyze and share information among various industries.
Market participants such as Aera Technology, Accenture, American Software, Inc, Axway, Antuit Holdings Pte. Ltd., Blue Yonder Group, Inc., Capgemini, Cloudera, Inc., Genpact, Domo, Inc., IBM, Infor, Lockheed Martin Corporation, Kinaxis, Manhattan Associates, Oracle, MICROSTRATEGY, Rosslyn Data Technologies, QlikTech International AB, SAP, Savi Technology, SAS Institute Inc., and Voxware are some of the key players operating in the global market.
Numerous market competitors are launching products & solutions for intensifying their business operations around the world. For instance, in February 2021, Inferess, a London-based firm, launched AI-driven supply chain solutions. The company influences natural language processing and machine learning to produce more real-time data than existing sources reliant on manual processes.
Polaris Market Research has segmented the supply chain analytics market report on the basis of solution, service, deployment, end-use, and region:
Supply Chain Analytics, Solution Outlook (Revenue – USD Billion, 2016 – 2028)
- Planning & Procurement
- Sales & Operations
- Visualization & Reporting
Supply Chain Analytics, Service Outlook (Revenue – USD Billion, 2016 – 2028)
- Support & Maintenance
Supply Chain Analytics, Deployment Outlook (Revenue – USD Billion, 2016 – 2028)
Supply Chain Analytics, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)
- Retail & Consumer Goods
- Aerospace & Defense
- High Technology Products
Supply Chain Analytics, Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa