Supply Chain Analytics Market Projected To Reach USD 22.46 Billion By 2030

 San Francisco, 27 Dec 2023: The Report Supply Chain Analytics Market Size, Share & Trends Analysis Report By Solution (Manufacturing, Logistics Analytics), By Deployment (On-premise, Cloud), By Service, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030

The global supply chain analytics market size is projected to reach USD 22.46 billion by 2030, according to a new study by Grand View Research, Inc.The market is anticipated to register a CAGR of 17.8% from 2023 to 2030. Supply chain analytics (SCA) is becoming popular as the demand for managing vast volumes of company data and its insights for strategic applications grows. As the demand for automation technologies and investment from technology developers increases, so does the demand for cognitive computing and AI. The growing awareness among businesses of the advantages of SCA in terms of improved visibility across the whole supply chain is fueling demand for analytics solutions.

The increased availability of cloud-based SCA solutions has triggered their demand among small & medium enterprises (SMEs) owing to benefits such as easy deployment, shorter implementation window, effective use of IT resources, and flexibility & mobility offered by these solutions. Another notable trend in the market is the increased demand for risk analytics solutions across all industries. Risk analytics solutions address multiple issues associated with the supply chain by analyzing scenarios and sensitivity, stochastic optimization, and risk mitigation.

The supply chain industry is evolving rapidly. Even in challenging circumstances, modern technology and tools such as blockchain and Artificial Intelligence (AI) generative tools can assist business owners to improve their supply chain cycle and compete better in the market. To rapidly discover problems and identify errors, several organizations use blockchain technology to consolidate all operations and data onto a single platform. For instance, in June 2023, International Business Machines Corporation partnered with Adobe, a computer software company, to provide brands with an improved content supply chain using the capabilities of next-generation AI. Adobe clients will benefit from a streamlined generative AI landscape due to the integration of Adobe's generative AI models with the comprehensive technical experience of IBM consulting services, including technology innovation, design, and strategy.

Improved effectiveness of business outcomes and cost-effectiveness of supply chain management resulting from the adoption of SCA is also expected to encourage the adoption of SCA solutions in several end-use applications. Demand is expected to remain robust in retail, consumer, healthcare, and manufacturing industries. Furthermore, the market's capacity to offer effective and efficient administration of end-to-end business processes is anticipated to drive its expansion over the forecast period. 

Access Research Report of Supply Chain Analytics Market @ https://www.grandviewresearch.com/industry-analysis/the-global-supply-chain-analytics-market

Supply Chain Analytics Market Report Highlights

• In terms of solution, the sales & operations analytics segment held the largest market share in 2022 exceeding 28%. This growth can be attributed to the growing emerging trend of use of machine learning in SCA solutions. It dissects and aggregates data and produces predictive, descriptive, and prescriptive insights. These insights enable supply chain managers to make better decisions
• In terms of service, the professional segment dominated the market in 2022 with a revenue share of over 60% and is expected to retain its dominance over the forecast period. The segment's growth is predicted to be driven by the increasing automation of professional services due to the adoption of big data and analytics, as well as the growing desire for improved mobility among service consultants
• In terms of deployment, the cloud segment is anticipated to register the fastest CAGR of 19.1% from 2023 to 2030. Cloud-based solutions enable businesses to access data from linked devices at any time, allowing for further customization and the use of analytical tools across numerous business channels
• In terms of enterprise size, the large enterprise segment held the largest market share in 2022 at over 59%. This growth can be attributed to the need to manage large amounts of data that must be effectively managed in local offices and overseas
• In terms of end-use, the high-technology products segment is anticipated to register the fastest CAGR of 20.6% from 2023 to 2030. This growth can be attributed to the increasing demand for high-technology products, which are complex to move and demand better visibility & tracking
• In terms of region, the North America region dominated the global market in 2022 with a revenue share of over 37%. Due to the region's huge number of SCA service providers, the regional market is expected to maintain its dominance over the forecast period

Supply Chain Analytics Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 7.15 billion
Revenue forecast in 2030	USD 22.46 billion
Growth rate	CAGR of 17.8% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

List of Key Players in the Supply Chain Analytics Market

• Accenture PLC
• Aera Technology
• Birst, Inc.
• Capgemini SA
• Genpact Limited
• International Business Machines Corporation
• JDA Software Group, Inc.
• Kinaxis
• Lockheed Martin Corporation
• Maersk Group
• Manhattan Associates, Inc.

Access Press Release of Supply Chain Analytics Market @ https://www.grandviewresearch.com/press-release/supply-chain-analytics-market-analysis