According to a new market research report published by Credence Research “Global Supply Chain Analytics Market (Software (Spend and Procurement Analytics, Supplier Performance Analytics, Demand Analysis and Forecasting, Inventory Analytics); Services (Managed Services, Professional Services); Deployment Model (On-Premises, Cloud)) Industry Analysis and Forecast, 2019 - 2027”, the global supply chain analytics market is anticipated to grow with a CAGR of more than 15.0% during the forecast period from 2019 to 2027, starting from US$ 4.51 Bn in 2018.
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The global supply chain analytics market is growing at a rapid pace owing to the growing need to improve the prominence on supply chain activities such as shipments, orders, and inventory. Additionally, factors such as restricting the product life cycles, ineffective supplier networks, redundant forecasts, low supply chain visibility, elevated warehousing costs, and changing customer demands have further encouraged the growth of supply chain analytics market during the forecast period. The limited awareness regarding supply chain analytics solutions and its applications in developing and underdeveloped regions and high cost for small and medium scale enterprises are some of the factors restricting the growth of the supply chain analytics market.
Cloud-based models is expected to maintain its market position by continuing as the highly preferred deployment model of supply chain analytics solutions. Increasing adoption of cloud storage across various industrial sectors is primarily contributing to the high growth of this market segment. Based on geography, North America holds the largest market share during the forecast period. The primary factor attributed to the high market size of the North American regions is the increasing amount of data generated by the companies operating in various industries. As digitization is penetrated in almost every industry, companies are also utilizing software solutions that simplify their work process and data management systems. This is also predicted to drive the growth of this market in North America. However, the Asia Pacific market is expected to register significant growth over the forecast period.
Some of the major companies profiled in the report include MicroStrategy Inc., IBM Corporation, Oracle, SAP SE, Tableau Software, Accenture, PeopleSoft Inc., Genpact, SAS Institute Inc., JDA Software Group, among others.
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By Software Segment (2018–2023; US$ Bn)
- Spend and Procurement Analytics
- Supplier Performance Analytics
- Demand Analysis and Forecasting
- Inventory Analytics
By Services Segment (2018–2023; US$ Bn)
- Managed Services
- Professional Services
By Deployment Model Segment (2018–2023; US$ Bn)
By Geography Segment (2019–2027; US$ Bn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America
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