Supply Chain Analytics Market Business Overview, Upcoming Trends and Top Company Analysis Forecast 2021-2030 | IBM, MicroStrategy, Oracle, Tableau Software

(New York, United States) supply chain analytics market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, and product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the supply chain analytics market by region.

The global supply chain analytics market is expected to reach approximately USD 8.89 billion by 2023 registering a 13.7% CAGR during the forecast period 2017-2023.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market supply chain analytics.

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Market Scenario
The supply chain functions have become one of the critical components for businesses to provide goods and/or services with enhanced customer satisfaction. It focuses on predicting customer demands, improving the overall efficiency of the supply chain processes, and enhancing the response time for consumer needs. Supply chain analytics are statistical tools and modeling techniques used to obtain meaningful patterns from the available raw data, such as transaction and shipment data. Additionally, the growing amount of data gathered from industries, such as customer behaviors in retail, patient records in healthcare, and logistics and transportation, are encouraging enterprises to adopt various solutions plying in the supply chain analytics market. Also, rising consumer awareness with respect to the benefits of supply chain analytics is likely to influence the market significantly.

Supply chain management has become a powerful and critical component in the operations of different industry verticals, particularly the retail, pharmaceutical, and healthcare sectors. This component has been greatly influenced by globalization, which allows numerous manufacturing units, suppliers, and distributors to deliver their products and services worldwide with enhanced quality and performance. To provide services with enhanced quality, the market has witnessed augmented levels of data generation. Furthermore, with the emergence of internet penetration, adoption of cloud computing, and industry 4.0, the supply chain is facing a tremendous increase in the amount of data.

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The rise in IoT enabled smart devices such as RFID sensor tags and barcodes help in the automation of supply chains. Thus, the adoption of IoT technology has facilitated the generation of significant amounts of data. This comprises unstructured data which helps the enterprises lower the operational and capital expenditures with the help of predictive and optimization models. Furthermore, most of the industrialists and experts recognize that integration of artificial intelligence with supply chain analytics could be an effective growth strategy in predicting the possible outcomes and offering a pro-active action plan in handling inventory management. This integration is expected to act as a competitive advantage for implementing supply chain analytics in reducing cost fluctuations by improving sourcing and logistics activities.
However, lack of data privacy in public cloud deployment and monetary constraints among enterprise are likely to hinder the growth of supply chain analytics market during the forecast period.
The global supply chain analytics market is expected to reach approximately USD 8.89 billion by 2023 registering a 13.7% CAGR during the forecast period 2017-2023.

Key Players
Some of the key players of Supply Chain Analytics market include IBM Corporation (US), MicroStrategy, Inc. (US), Oracle Corporation (US), Tableau Software, Inc. (US), SAP SE (France), Accenture PLC (Ireland), Genpact (US), SAS Institute Inc. (US), Manhattan Associates, (US), and JDA Software Group, Inc. (US).

Key Findings
> The global supply chain analytics market is expected to reach USD 8.89 billion by 2023.
> By component, the solution segment is expected to grow at a significant rate in the global supply chain analytics market during the forecast period.
> By solution, the supply chain planning and procurement segment is expected to hold the largest market share and is presumed to remain the highest market share over the next few years.
> By services, the managed services segment is likely to be the fastest growing segment during the assessment period.
> The cloud sub-segment of supply chain analytics market is expected to dominate the market during the forecast period and is also expected to be the fastest growing sub-segment from 2018 to 2023.
> By vertical, the retail segment is expected to be largest contributor during the forecast period and also projected to be the fastest growing segment during the next few years.
> Geographically, North America has been projected to hold the largest market share whereas Asia-Pacific is likely to be the fastest growing market in the supply chain analytics market.

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Segmentation
The supply chain analytics market is segmented by component, deployment, and vertical.

Based on component, the supply chain analytics market is sub-segmented into solution and services. The solution segment is further divided into supply chain planning and procurement, transportation and logistics, sales and operation planning, manufacturing analytics, and visualization and reporting tools. Based on services, the supply chain analytics market is segmented into professional services and managed services.

By deployment, the market is categorized into on-premises and cloud. Based on the industry vertical, the market is categorized into retail, manufacturing, healthcare, automotive and transportation, aerospace and defense, and others.

Regional Analysis
Geographically, the supply chain analytics market is segmented into North America, Asia-Pacific, Europe, and the rest of the world.
North America dominated the supply chain analytics market in 2017 and gained a 39% market share in 2017. The presence of solution providers such as IBM Corporation, Oracle, and Tableau Software, Inc and highly skilled and technical expertise are some of the major factors for the dominance of North America in the market. The US is the leading the market whereas Canada is expected to witness significant growth over the assessment period. However, countries in the Asia-Pacific region such as China, Japan, and Taiwan are hubs electronics and semiconductor manufacturers; this may lead to an increase in the adoption of supply chain analytics software solutions for better inventory management. Due to this, Asia-Pacific is expected to be the fastest growing market during the forecast period

Target Audience
> Retail Vendors
> Local/Government Agencies
> Supply Chain Analytics Services Providers
> Cloud Service Providers
> IT Providers
> Value-added Resellers
> Cloud Infrastructure Agencies
> Research Firms
> Software Vendors

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What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

Factors Influencing

The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.

Regional Analysis

Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.

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