The global supply chain analytics market revenue is estimated to exceed US$ 7540.00 million in 2023 to US$ 34,372.85 million by 2032. The global market is expected to grow at a compound annual growth rate (CAGR) of 18.4% during the forecast period from 2024 to 2032.
Supply chain analytics aims to enhance operational efficiency and effectiveness by enabling data-driven decision-making at strategic, operational, and tactical levels. It encompasses the entire value chain, including sourcing, manufacturing, distribution, and logistics. Using this approach, companies can increase productivity, reduce wastage, forecast inventory, and improve customer relations. The global market for supply chain analytics is growing due to the need to improve operational and supply chain efficiencies, the rapid increase in business data volume across various sectors, and the rise in adoption of Big Data technologies.
Market Driving Factor
Rising Adoption of Cloud-Based Supply Chain Analytics
The increasing demand for cloud-based supply chain analytics solutions and a growing understanding of the benefits of supply chain analytics are significant drivers of global market growth. Cloud-based solutions play a crucial role in tracking and analyzing the entire spectrum of supply chain activities, offering characteristics such as ease of use, simple integration, agility, cost-effectiveness, scalability, and planning. These features have garnered substantial traction among supply chain management solution providers, fueling the market demand.
Cloud-based solutions provide immense value to companies seeking visibility across their supply chains due to the sheer volume of data inputs and bespoke outputs. They offer advantages such as lower capital expenditure, reduced IT spending on systems maintenance, high availability, flexibility in scaling, robust IT security, A/B testing, and more. Consequently, these benefits have led to increased adoption of cloud-based supply chain analytics solutions.
The adoption of cloud-based supply chain analytics solutions is likely to continue to rise, driven by the need to improve operational efficiency and supply chain effectiveness and the rapid growth in business data across various industries such as manufacturing, transportation, and retail.
Lack of Skilled IT Professionals
A dearth of proficient IT personnel and the presence of inaccurate data have the potential to impede market expansion. Notably, the shortage of technical workers has been exacerbated over the past two years. A recent study by management consulting company Korn Ferry has projected that by 2030, global talent scarcity will lead to over 85 million unfilled positions. This dilemma stems from a surge in technical roles, outpacing the supply of suitably skilled technical professionals.
Countries like Japan and many European nations have grappled with low birth rates for decades. In the United States, the majority of baby boomers will have exited the workforce by 2030. However, the younger generations may not have had the opportunity or training to fill the high-skilled vacancies left behind.
Another primary factor contributing to the escalating IT talent is the inadequate education in computer science. Taking the US as an example, only about 53% of high schools offer Computer Science classes or programs.
The impact of this talent shortage is so substantial that it casts doubt on the sustained dominance of industry leaders. For instance, although the United States currently holds an undisputed position in the tech sector, the talent shortage could rapidly erode this advantage. In the tech realm alone, the US stands to miss out on an annual revenue of $162 billion unless it addresses the shortfall of high-tech workers.
Integration of Blockchain Technology
The increasing integration of blockchain technology is poised to create lucrative opportunities for market growth. This integration with supply chain analytics tools serves to optimize the performance of the supply chain management (SCM) process by automating inventory and warehouse management tasks, thereby enhancing the IT infrastructure and analytics capabilities of organizations.
The growing adoption of blockchain technology contributes to the efficiency of the SCM process by mitigating disruptions encountered by suppliers, manufacturers, and customers. It also aids in enhancing business productivity and fostering data transparency by predicting manufacturing and inventory risks.
Furthermore, the incorporation of blockchain technology improves accountability, traceability, and coordination during inventory and procurement transactions. Consequently, this integration enhances end-to-end data transparency, propelling the growth of the supply chain analytics market.
The potential benefits of blockchain technology in supply chain operations are substantial. For instance, it offers opportunities for streamlining warehouse management, optimizing inventory policies, and reducing costs for Fast-Moving Consumer Goods (FMCG) companies. Additionally, blockchain technology has the potential to enhance product traceability, improve quality management, and reduce the need for intermediaries, thereby increasing efficiency and reducing costs across the entire supply chain.
By Service
The professional service segment in the supply chain analytics market was the leading revenue generator in 2023. This segment's growth is due to the need for professional services to ensure compatibility between new and existing systems across various departments and integrate new systems with existing ones. The demand for professional services is driven by the analysis and protection of critical data, as well as the need for guidance on emerging technologies, contributing to the segment's increasing market demand globally.
Professional service providers play a crucial role in ensuring existing systems align with new methods to mitigate the risk of data loss or theft. Their specific data presentation regarding rising market demand and analysis and their expertise in safeguarding critical information are essential for the growth of this segment. Additionally, seeking guidance from professionals for developing and analyzing crucial data contributes to the growing market demand for professional services across the globe.
By Deployment
The cloud-based segment is projected to experience the highest compound annual growth rate (CAGR). This growth is due to the enhanced mobility and user-friendly nature of cloud services, which have spurred the aggressive deployment of cloud-based supply chain analytics (SCA) solutions.
The utilization of cloud-based SCA solutions effectively addresses a range of supply chain management issues by analyzing and optimizing supply chain performance. In contrast, organizations employing on-premise SCA solutions create demand for investment in servers and other equipment to manage supply chain operations.
As a result, the demand for cloud-based solutions is expected to surpass that for on-premises solutions during the forecast period, reflecting the industry's preference for the scalability, flexibility, and accessibility offered by cloud-based SCA solutions.
By End-User
The manufacturing segment dominated the market in 2023. Within the manufacturing sector, SCA solutions offer the potential to enhance performance by providing real-time access to data across the value chain, reflecting updates made in any region or process throughout the organization.
Additionally, the increasing customer demand and the necessity to ensure product availability and timely delivery are driving the demand for improvements in supply chain efficiency. For example, in April 2023, Snowflake, a data cloud company, introduced the Manufacturing Data Cloud tailored for the automotive, technology, and industrial sectors.
This innovation enables manufacturers to collaborate with suppliers, partners, and customers, thereby enhancing supply chain performance and advancing smart manufacturing initiatives.
North America emerged as the dominant force in the global supply chain analytics market in 2023 and is projected to maintain its leading position in the forecast period. This growth is due to the substantial presence of supply chain analytics companies in the region. The increased investment in digitalizing supply chain management (SCM) operations to address the challenges faced during the pandemic and to drive the demand for supply chain analytics (SCA) solutions has contributed to this dominance.
Furthermore, the prevalence of large logistics and manufacturing enterprises in countries such as the US and Canada has bolstered the market demand during the forecast period. In the United States, companies and governments are actively focused on enhancing manufacturing businesses by boosting productivity and strengthening operations across the supply chain within the manufacturing industry.
The expansion of e-commerce in the United States has also led to an increased demand for effective supply chain management. According to the US Commerce Department, the country's e-commerce business experienced a growth of 10.8% in the third quarter of the previous year, with online orders accounting for over 20.6% of all retail dollars spent.
The global supply chain analytics market segmentation focuses on Solution, Service, Deployment, End-User, and Region.
By Solution
By Service
By Deployment
By End-User
By Region
1 INTRODUCTION OF GLOBAL SUPPLY CHAIN ANALYTICS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SUPPLY CHAIN ANALYTICS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SUPPLY CHAIN ANALYTICS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SUPPLY CHAIN ANALYTICS MARKET, BY SOLUTION
5.1 OVERVIEW
5.2 LOGISTICS
5.3 MANUFACTURING
5.4 PLANNING & PROCUREMENT
5.5 SALES & OPERATIONS
5.6 VISUALIZATION & REPORTING
6 GLOBAL SUPPLY CHAIN ANALYTICS MARKET, BY SERVICE
6.1 OVERVIEW
6.2 PROFESSIONAL
6.3 SUPPORT & MAINTENANCE
7 GLOBAL SUPPLY CHAIN ANALYTICS MARKET, BY DEPLOYMENT
7.1 OVERVIEW
7.2 CLOUD
7.3 ON-PREMISE
8 GLOBAL SUPPLY CHAIN ANALYTICS MARKET, BY END-USER
8.1 OVERVIEW
8.2 RETAIL & CONSUMER GOODS
8.3 HEALTHCARE
8.4 MANUFACTURING
8.5 TRANSPORTATION
8.6 AEROSPACE & DEFENSE
8.7 HIGH TECHNOLOGY PRODUCTS
8.8 OTHERS
9 GLOBAL SUPPLY CHAIN ANALYTICS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL SUPPLY CHAIN ANALYTICS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 ACCENTURE
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 AERA TECHNOLOGY
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 AMERICAN SOFTWARE, INC
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 ANTUIT HOLDINGS PTE. LTD.
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 AXWAY
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 BLUE YONDER GROUP, INC.
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 BRIDGEI2I ANALYTICS SOLUTIONS
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 CAPGEMINI
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 CLOUDERA, INC.
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 DOMO, INC.
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 GENPACT
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 IBM
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 INFOR
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 KINAXIS
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 LOCKHEED MARTIN CORPORATION
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 MANHATTAN ASSOCIATES
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 MICROSTRATEGY
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.18 ORACLE
10.18.1 OVERVIEW
10.18.2 FINANCIAL PERFORMANCE
10.18.3 PRODUCT OUTLOOK
10.18.4 KEY DEVELOPMENTS
10.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.19 QLIKTECH INTERNATIONAL AB
10.19.1 OVERVIEW
10.19.2 FINANCIAL PERFORMANCE
10.19.3 PRODUCT OUTLOOK
10.19.4 KEY DEVELOPMENTS
10.19.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.20 ROSSLYN DATA TECHNOLOGIES
10.20.1 OVERVIEW
10.20.2 FINANCIAL PERFORMANCE
10.20.3 PRODUCT OUTLOOK
10.20.4 KEY DEVELOPMENTS
10.20.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.21 SAP
10.21.1 OVERVIEW
10.21.2 FINANCIAL PERFORMANCE
10.21.3 PRODUCT OUTLOOK
10.21.4 KEY DEVELOPMENTS
10.21.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.22 SAVI TECHNOLOGY
10.22.1 OVERVIEW
10.22.2 FINANCIAL PERFORMANCE
10.22.3 PRODUCT OUTLOOK
10.22.4 KEY DEVELOPMENTS
10.22.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.23 VOXWARE
10.23.1 OVERVIEW
10.23.2 FINANCIAL PERFORMANCE
10.23.3 PRODUCT OUTLOOK
10.23.4 KEY DEVELOPMENTS
10.23.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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