Supply Chain Analytics Market Growth

WILMINGTON, DE, UNITED STATES, August 21, 2024 /EINPresswire.com/ -- The global supply chain analytics market was valued at $4.53 billion in 2019, and is projected to reach $16.82 billion by 2027, growing at a CAGR of 17.9% from 2020 to 2027.

Asia-Pacific is anticipated to exhibit highest growth rate during the forecast period, owing to rise in investment on Big Data analytics & digitalization. Furthermore, surge in usage of supply chain analytics in the retail & e-commerce industry to analyze demand patterns & forecast, and large presence of manufacturing, retail companies are further boosting the demand of supply chain analytics market.

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Supply chain analytics targets to improve operational efficiency and effectiveness by enabling data-driven decisions at strategic, operational, and tactical levels. It incorporates virtually the complete value chain including sourcing, manufacturing, distribution, and logistics. Supply chain analytics helps in increasing productivity, reducing wastage, inventory forecasting, and to improve customer relationship.

Factors such as rise in adoption of Big Data analytics, increase in use of predictive modeling to deliver optimum performance, big data supporting initiatives taken by government across the world, and upsurge in spending on Big Data infrastructure drive the growth of the global supply chain analytics market. Furthermore, the need to gain competitive advantage is boosting the growth of this market.

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Region wise, the supply chain analytics market size was dominated by North America in 2019. Factors such as presence of leading market vendors developing supply chain analytics in North America and high spending on Big Data technology in this region are the major drivers for the supply chain analytics market growth. In addition, the deployment of supply chain analytics has increased in each stage of the retail process to predict market demands, manage inventory, and reduce operational costs, which is anticipated to significantly contribute toward the market growth.

The key players operating in the global supply chain analytics industry include Oracle, SAP SE, IBM, SAS Institute, MicroStrategy, Tableau, Qlik, Infor Inc., Kinaxis Inc., and Manhattan Associates. This study includes market trends, supply chain analytics market analysis, and future estimations to determine the imminent investment pockets.

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