BANGALORE, India, Dec. 21, 2020 /PRNewswire/ -- Supply Chain Analytics Market is segmented by Component (Software and Services), Deployment (On-premise and Cloud), Enterprise Size (Large Enterprises and Small & Medium-sized Enterprises), and Industry Vertical (Automotive, Food & Beverages, Healthcare & Pharmaceuticals, Manufacturing, Retail & Consumer Goods, Transportation & Logistics, and Others). This report is published on Valuates Reports in the Software Utilities Category. It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2027.
The global supply chain analytics market size was valued at USD 4.53 Billion in 2019 and is projected to reach USD 16.82 Billion by 2027, growing at a CAGR of 17.9% from 2020 to 2027.
Major factors driving the growth of Supply Chain Analytics Market size are, increase in need of improving operational and supply chain efficiencies, the rapid increase in the volume of business data across various sectors such as manufacturing, retail, transportation, the surge in investments for Big Data supporting initiatives by governments, and rise in adoption of Big Data technologies.
This study includes the analytical depiction of the global supply chain analytics market forecast and trends to determine the imminent investment pockets. The report presents information related to key drivers, restraints, and supply chain analytics market opportunities.
TRENDS INFLUENCING THE SUPPLY CHAIN ANALYTICS MARKET SIZE
The COVID-19 outbreak is expected to have a major effect on the supply chain analytics market size. The use of supply chain analytics across different industries to recognize problems across the entire supply chain during the COVID period and to help prepare and adjust the evolving dynamics is expected to fuel market growth. Also, the use of supply chain analytics would allow companies to evaluate business continuity scenarios post-COVID-19.
The market for supply chain analytics tools is expected to develop significantly during the forecast period due to a rise in demand for real-time tracking & supply-demand forecasting. In addition, developments such as Business 4.0 and Logistics 4.0 are expected to create lucrative opportunities for market expansion.
The amount of data collected by the company is increasing due to the growth in data generated by the Internet of Things (IoT), social media, and multimedia. Increasing the need to store, process, and analyze vast quantities of structured as well as unstructured datasets has led many companies and individuals to implement advanced and large data analytics, which is likely to drive the growth of supply chain analytics market size.
Cloud-based supply chain analytics tools for logistics and transport allow businesses to communicate, engage and collaborate with consumers, business partners, and suppliers. It also helps companies develop a stable, efficient, and integrated transport management system that provides customers with real-time information. These advantages offered by Cloud-based supply chain analytics are expected to increase their adoption and thereby fuel the growth of supply chain analytics market size.
North America is expected to hold the largest supply chain analytics market share. This dominance of North America is attributed to the high spending on Big Data analytics and the strong presence of large companies in retail, manufacturing sector suppliers in this region.
Asia-Pacific is expected to exhibit the highest CAGR of 20.8% during 2020-2027. The is due to growing knowledge among companies about the advantages of analytical solutions.
- Supply Chain Analytics Software market is segmented by Type - Cloud Based, Web Based, Application - Large Enterprises, SMEs,by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.
- The global Transportation Predictive Analytics Market size is projected to reach USD 1039.4 Million by 2026, from USD 915.9 Million in 2020, at a CAGR of 12.5%% during 2021-2026. Major factors driving the growth of transportation predictive analytics market size are the increasing data volumes across the transportation sector and various private agencies.
- The global supply chain management market size was valued at USD 15.85 Billion in 2019 and is projected to reach USD 37.41Billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027. The on-premise segment dominated the supply chain management market share in 2019 and is expected to continue this trend during the forecast period. This is attributed to the high adoption of an on-premise supply chain management system is high among the heavily regulated industries where the storage of sensitive information in a public cloud environment is not allowed.
- Transportation Analytics Market is segmented by Type - Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Application - Roadways, Railways, Airways, Waterways, by key players , Region - North America, LAMEA, Middle East, Asia pacific. etc.
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