The market for Supply Chain Analytics Market is expected to reach US$ 4.5Bn By 2027.
The global supply chain analytics market is expected to grow with a CAGR of more than 15.0% during the forecast period from 2019 to 2027, starting from US$4.5Bn in 2018. The increasing number of manufacturing facilities, the growing volume of the business data generated by enterprises, and the managing supplier relationships primarily drive the increasing adoption of supply chain analytics tools. Some of the factors driving the growth of the supply chain analytics market include the need for improvement in productivity and reduced operational costs and the rising necessity to maintain and enhance customer satisfaction. Moreover, a greater need to attain sustainable business development is also increasing the adoption of supply chain analytics tools.
However, lack of awareness and low visibility of the real-time data is impacting the supply chain analytics market growth. Also, supply chain analytics is a high-cost product for small-scale and medium-scale enterprises, which is another factor affecting its adoption rate.
The software segment expected to lead the supply chain analytics services market over the forecast period
By components, the software segment is expected to witness rapid growth in the global supply chain analytics market. As these solutions are largely adopted in various industries, the market size for supply chain analytics software is gradually increasing. Companies are upgrading their existing solutions and are investing in developing new software solutions to smoothen the processes of their clients. Additionally, the cloud-based model of the supply chain analytics market is expected to witness double-digit growth over the forecast period.
North America to Hold the Major Market Share
Geographically, North America held the largest market share in the global supply chain analytics market in 2018. With growing industrial sectors and the penetration of information technology, these industries are generating a huge volume of data. This data needs to be segregated in an efficient manner which drives the demand for supply chain analytics solutions. However, Asia-Pacific is likely to be the fastest-growing regional segment during the forecast period. The increasing adoption of advanced technologies and the expansion of international players in this region are fuelling the growth of this regional segment.
Some of the leading players operating in the supply chain analytics market include MicroStrategy Inc., IBM Corporation, Oracle, SAP SE, Tableau Software, Accenture, PeopleSoft Inc., Genpact, SAS Institute Inc., and JDA Software Group, among others.
This research report presents the analysis of each segment from 2019 to 2027, considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
The global supply chain analytics report provides market size and estimates based on market opportunities and key trends observed in the industry. The report presents a comprehensive assessment of the supply chain analytics market based on software, services, deployment model, and geography. Key segments covered in the report are as follows:
ATTRIBUTE DETAILS
Research Period 2017-2027
The base Year 2018
Forecast Period 2019-2027
Historical Year 2017
Unit USD Billion
Segmentation Software Segment (2018–2023; US$ Bn)
Services Segment (2018–2023; US$ Bn)
Deployment Model Segment (2018–2023; US$ Bn)
Geography Segment (2018–2023; US$ Bn)
The market for Supply Chain Analytics Market is expected to reach US$ 4.5Bn By 2027.
The Supply Chain Analytics Market is expected to see significant CAGR growth over the coming years, at 15.0%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
MicroStrategy Inc., IBM Corporation, Oracle, SAP SE, Tableau Software, Accenture, PeopleSoft Inc., Genpact, SAS Institute Inc., and JDA Software Group are some of the major players in the global market.