December 09, 2020
According to the business intelligence report titled ‘Global Supply Chain Analytics Market Size study, by Software (Supplier Performance Analytics, Demand Analysis and Forecasting, and Inventory Analytics), by Deployment Model (On-premises, Cloud), Organization Size (Large Enterprises, SMEs), Industry Vertical (Automotive, Retail and consumer goods, F&B manufacturing, Machinery and industrial equipment manufacturing, Pharmaceuticals, Government, Energy and utilities) and Regional Forecasts 2020-2027’ available with Market Study Report LLC, global supply chain analytics market accounted for USD 3 billion in the year 2019 and is estimated to record a noteworthy CAGR of 20.1% during 2020-2027.
Industry experts claim that rising product adoption for enhancement of operational efficiency and data driven decision making coupled with increasing velocity and volume of data are propelling the growth of global supply chain analytics market.
Escalating demand for advanced communication techniques, growing awareness among organizations regarding supply chain analytics tools, and rising adoption of cloud-based solutions are further fueling the industry growth.
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Furthermore, acquisitions, mergers, product launches, and other strategic alliances by industry partakers along with emergence of advanced technologies such as Machine Learning (ML) and Artificial Intelligence (AI) are stimulating the global supply chain analytics market scenario. However, growing concerns regarding data security will hamper the market expansion during the stipulated timeframe.
Based on software type, the overall market is fragmented into inventory analytics, demand analysis & forecasting, and supplier performance analytics. With regards to deployment model, worldwide supply chain analytics industry is split into cloud, and on-premises.
Speaking of size, the market is divided into SMEs (small & medium scale enterprises), and large enterprises. The end-user terrain of global supply chain analytics industry comprises of energy & utilities, government, pharmaceuticals, machinery & industrial equipment manufacturing, F&B manufacturing, retail & consumer goods, and automotive.
From a regional point of view, North America accounts for a majority of the global supply chain analytics market share currently, on account of flourishing cloud infrastructure along with rising adoption of cloud-based analytics.
Alternatively, supply chain analytics market in Asia-Pacific is estimated to register the highest CAGR through 2027. High concentration of industry players coupled with rising disposable income are fostering the expansion of the regional market
Leading players that influence the global supply chain analytics industry trends are Cloudera Inc., TIBCO Software Inc., Qlik, Tableau Software, MicroStrategy Incorporated, Software AG, SAS Institute, IBM Corporation, Oracle Corporation, and SAP SE among others.