New York, May 16, 2022 (GLOBE NEWSWIRE) — Supply Chain Analytics Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Supply Chain Analytics Market” information by Solution, by Components, by Deployment, by Vertical and Region – Forecast to 2030” market size to reach USD 16.82 billion, growing at a compound annual growth rate of 17.21% by 2030.
Supply Chain Analytics Market Scope:
Supply chain analytics refers to examining information companies draw various applications tied to their supply chains, such as transportation management (including shipping), warehouse management and fulfillment, supply chain execution systems for procurement, order management, and inventory management. It includes extracting crucial data from huge amounts of original information, including shipping, sensing, and transactional data, by utilizing modeling methods and analytical tools to analyze large amounts of data.
Dominant Key Players on Supply Chain Analytics Market Covered are:
- JDA Software Group, Inc.
- IBM Corporation
- Manhattan Associates Inc.
- MicroStrategy, Inc.
- SAS Institute Inc.
- Oracle Corporation
- Tableau Software, Inc.
- Accenture PLC
- SAP SE
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The global supply chain analytics market has registered enormous growth in the last few years. The market’s growth is mainly credited to the growing level of customer knowledge and awareness of the help provided by supply chain analytics. Furthermore, the factors such as fast growth in data production among enterprises, rising consumer understanding, and good supply chain network across the global market are also projected to catalyze the market’s growth over the coming years.
Market USP Exclusively Encompassed:
The global supply chain analytics market has registered enormous growth in the last few years. The market’s growth is mainly credited to the growing necessity to improve company operations. Business processes are crucial in improving a company’s competitive position across the global market. By focusing on mixing supply chain operations across the same country, a domestic supply chain assists organizations in coordinating their business activities more efficiently. Using different risk-averting algorithms and predictive processes, supply chain analytics may assist businesses in boosting their effectiveness. It helps businesses achieve several growth possibilities while also lowering mistakes and failing rates in their goods and services.
Browse In-depth Market Research Report (100 Pages) on Supply Chain Analytics Market:
Given the evidently increasing complexity of the supply chain network, and the increasing demand for genuine analysis of data in the ecosystem, businesses are gradually turning to cloud-based supply chain management solutions. It is mainly with the use of cloud-based analytics solutions that the complete supply chain operations can be analyzed and tracked across both reverse and forward supply chain ecosystems, respectively.
Apart from all the factors that are likely to catalyze the market’s growth, there are certain aspects projected to restrict the market’s growth. The major aspect likely to restrain the market’s growth is the issue of data expectations of private cloud deployment. Furthermore, the monetary limitation among businesses is another major parameter likely to hamper the market’s performance over the coming years. The associated digital environment and the data gathered as an outcome of this connectivity are likely to cause a rise in the amount of data. This huge amount of data is highly vulnerable to cyber breaches. The growing number and sophistication of cybercrimes across the globe are anticipated to impede the market’s growth. Additionally, the scarcity of qualified personnel in the supply chain sector is one of the major challenges market players face worldwide.
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Segmentation of Market Covered in the Research:
The global market for supply chain analytics has been fragmented into various segments based on vertical deployment, components, and regions.
Based on application, the global market for supply chain analytics is split into services &solutions, reporting tools visualization, sales & operations planning, supplier management, and procurement, transportation and logistics, and manufacturing analytics.
The global supply chain analytics market is divided into aerospace & military, manufacturing, automotive & transportation, healthcare, retail, and others based on end-users.
The global supply chain analytics market is analyzed across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
As per the MRFR analysis reports, the North American region is projected to lead the global market for supply chain analytics over the assessment timeframe. The regional market’s growth is attributed primarily to the presence of major companies such as SAS Institute, Oracle Corporation, and IBM Corporation. The countries such as Canada and the United States are considered some of the primary adopters of supply chain analytics and other technological advances across the globe.
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