The supply chain analytics market is expected to grow from USD 3.6 billion in 2018 to USD 7.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period. Factors that drive the market growth are increasing volume and velocity of data, need to enhance operational and supply chain efficiencies, and advent of AI and machine learning into supply chain management.
The supply chain analytics market comprises major solution providers, such as SAP (Germany), Oracle (US), IBM (US), SAS Institute (US), Software AG (Germany), MicroStrategy (US), Tableau (US), Qlik (US), TIBCO (US), Cloudera (US), Logility (US), Savi Technology (US),Infor (US), RELEX Solutions (Finland), TARGIT (Denmark), Voxware (US), The AnyLogic Company (US), Antuit (US), Axway (US), AIMMS (Netherlands), BRIDGEi2i (India), Domo (US), Datameer (US), 1010data(US), Rosslyn Analytics(UK).
The study includes in-depth competitive analysis of these key players in the supply chain analytics market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations have been the most dominating strategies adopted by the major players from 2016 to 2018, which helped them innovate on their offerings and broaden their customer base.
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Oracle is among the leaders in the supply chain analytics market with a global presence. The company has a balanced growth strategy in the market, including significant product launches diversifying Oracle’s supply chain analytics product portfolio and increasing the company’s market reach. For instance, in May 2018, Oracle launched new AI cloud applications for supply chain managers to discover patterns and gain insights on product issues. The strong network of channel partners and distributors has strengthened the reach of the company across the world. In the past few years, the company has strengthened its cloud-based portfolio and launched several of its products on cloud catering to the requirements of SaaS-based businesses. Furthermore, the company invests a significant amount of its revenue in R&D.
Similarly, IBM provides a wide range of supply chain analytics solutions that enables users to proactively predict, assess, and mitigate risks. IBM offers Watson Order Optimizer with the capabilities of IBM Cognos Supply Chain Procurement Performance Analytics dedicated to the supply chain department of myriad industries. Furthermore, in October 2018, the company released Watson Supply Chain Insights that offers real-time data about supply chain operations to supply chain officers. The company has been continuously investing in R&D to focus on high-growth strategic opportunities and expand its market presence. Moreover, a strong cloud footprint also enables the company to deliver its analytics solutions efficiently through cloud. Headquartered in New York, US, the company has additional offices in North America, Middle East and Africa (MEA), Europe, and APAC.
Supply Chain Analytics Market by Software (Supplier Performance Analytics, Demand Analysis and Forecasting, and Inventory Analytics), Services, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023
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