Supply Chain Analytics Market Research Report and Industry Analysis 2023

The supply chain functions have become one of the critical components for businesses to provide goods and/or services with enhanced customer satisfaction. It focuses on predicting customer demands, improving the overall efficiency of the supply chain processes, and enhancing the response time for consumer needs. Supply chain analytics are statistical tools and modeling techniques used to obtain meaningful patterns from the available raw data, such as transaction and shipment data.

Additionally, the growing amount of data gathered from industries, such as customer behaviors in retail, patient records in healthcare, and logistics and transportation, are encouraging enterprises to adopt various solutions plying in the supply chain analytics market. Also, rising consumer awareness with respect to the benefits of supply chain analytics is likely to influence the market significantly.
The global supply chain analytics market is expected to reach approximately USD 8.89 billion by 2023 registering a 13.7% CAGR during the forecast period 2017–2023.

Supply chain management has become a powerful and critical component in the operations of different industry verticals, particularly the retail, pharmaceutical, and healthcare sectors. This component has been greatly influenced by globalization, which allows numerous manufacturing units, suppliers, and distributors to deliver their products and services worldwide with enhanced quality and performance. To provide services with enhanced quality, the market has witnessed augmented levels of data generation. Furthermore, with the emergence of internet penetration, adoption of cloud computing, and industry 4.0, the supply chain is facing a tremendous increase in the amount of data.

The rise in IoT enabled smart devices such as RFID sensor tags and barcodes help in the automation of supply chains. Thus, the adoption of IoT technology has facilitated the generation of significant amounts of data. This comprises unstructured data which helps the enterprises lower the operational and capital expenditures with the help of predictive and optimization models. Furthermore, most of the industrialists and experts recognize that integration of artificial intelligence with supply chain analytics could be an effective growth strategy in predicting the possible outcomes and offering a pro-active action plan in handling inventory management. This integration is expected to act as a competitive advantage for implementing supply chain analytics in reducing cost fluctuations by improving sourcing and logistics activities. However, lack of data privacy in public cloud deployment and monetary constraints among enterprise are likely to hinder the growth of supply chain analytics market during the forecast period.

Key Players

Some of the key players of Supply Chain Analytics market include IBM Corporation (US), MicroStrategy, Inc. (US), Oracle Corporation (US), Tableau Software, Inc. (US), SAP SE (France), Accenture PLC (Ireland), Genpact (US), SAS Institute Inc. (US), Manhattan Associates, (US), and JDA Software Group, Inc. (US).

Key Findings

• The global supply chain analytics market is expected to reach USD 8.89 billion by 2023.
• By component, the solution segment is expected to grow at a significant rate in the global supply chain analytics market during the forecast period.
• By solution, the supply chain planning and procurement segment are expected to hold the largest market share and is presumed to remain the highest market share over the next few years.
• By services, the managed services segment is likely to be the fastest growing segment during the assessment period.
• The cloud sub-segment of supply chain analytics market is expected to dominate the market during the forecast period and is also expected to be the fastest growing sub-segment from 2018 to 2023.
• By vertical, the retail segment is expected to be the largest contributor during the forecast period and also projected to be the fastest growing segment during the next few years.
• Geographically, North America has been projected to hold the largest market share whereas Asia-Pacific is likely to be the fastest growing market in the supply chain analytics market.

Segmentation

The supply chain analytics market is segmented by component, deployment, and vertical.
Based on the component, the supply chain analytics market is sub-segmented into solution and services. The solution segment is further divided into supply chain planning and procurement, transportation and logistics, sales and operation planning, manufacturing analytics, and visualization and reporting tools. Based on services, the supply chain analytics market is segmented into professional services and managed services.
By deployment, the market is categorized into on-premises and cloud. Based on the industry vertical, the market is categorized into retail, manufacturing, healthcare, automotive and transportation, aerospace and defense, and others.
Regional Analysis

Geographically, the supply chain analytics market is segmented into North America, Asia-Pacific, Europe, and the rest of the world.

North America dominated the supply chain analytics market in 2017 and gained a 39% market share in 2017. The presence of solution providers such as IBM Corporation, Oracle, and Tableau Software, Inc and highly skilled and technical expertise are some of the major factors for the dominance of North America in the market.

The US is the leading the market whereas Canada is expected to witness significant growth over the assessment period. However, countries in the Asia-Pacific region such as China, Japan, and Taiwan are hubs electronics and semiconductor manufacturers; this may lead to an increase in the adoption of supply chain analytics software solutions for better inventory management. Due to this, Asia-Pacific is expected to be the fastest growing market during the forecast period.

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