Supply Chain Analytics Market to be Worth USD 8.89 Billion by 2023

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Supply Chain Analytics Market Research Report.

The global supply chain analytics market size is expected to touch USD 8.89 billion by 2023 owing to numerous benefits of supply chain analytics such as real-time updates and precise predictions. Market Research Future’s (MRFR) latest study reveals that the market is predicted a 13.7 % CAGR during the forecast period (2017–2023). Generation of data by enterprises and advent of cloud are factors expected to drive market growth. Technological advances such as Internet of Things (IoT), big data, and cognitive computing can lead to its adoption by various enterprises. Lack of data privacy regulations can impede market growth.

Global Market for Supply Chain Analytics – Segmental Analysis

MRFR’s report offers a detailed segmental analysis of the market based on component, deployment, and vertical. By component, the market has been segmented into solution and services. The solution segment is anticipated to exhibit a 12.19% CAGR over the forecast period. Supply chain management assists logistics firms in catering to market demands amid changing policies and unpredictable climatic conditions. The services segment is touted to showcase a 15.88% CAGR till 2023.

By deployment, the market is segmented into on cloud and on-premise. The on cloud segment is anticipated to capture a large market share by 2023 owing to advantages of cloud solutions. Benefits of cloud such as scalability, efficiency, and reduction of errors are projected to spur its rapid implementation by various supply chain firms. In addition, cloud technology can integrate with existing systems and assist in decision making.

By vertical, the market is segmented into aerospace and defense, automotive and transportation, retail, healthcare, manufacturing, and others. The retail segment is touted to exhibit a 16% CAGR during the forecast period. Supply chain analytics provide firms in the retail sector with valuable insights to improve product delivery. In addition, vendor management and product sourcing are metrics which can be tracked through the software. Analytics play a huge role in improving efficiency and curtailing unnecessary expenses. Nearly 64% of organizations have integrated cloud in their processes to attain data rapidly from suppliers. The manufacturing application segment is projected to display a 12.9% CAGR during the forecast period.

Access Report @ https://www.marketresearchfuture.com/reports/supply-chain-analytics-market-5512

Regional Outlook

The supply chain analytics market, on the basis of region, is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

Europe is expected to dominate the market, followed by North America by 2023. Government policies in the European Union which favor the use of technology to ease operational and production expenses can drive the Europe supply chain analytics market. The North America market was valued at USD 1582.7 million in 2017. It can exhibit a 12.9% CAGR over the forecast period owing to various firms implementing cloud technology in their processes to scale their operations.  The APAC market is projected a steady growth rate owing to the emergence of various small and medium businesses (SMBs).

Global Market for Supply Chain Analytics – Competitive Dashboard

Some of the key players profiled in the market report are Genpact, Accenture PLC, Tableau Software, Inc., JDA Software Group, Inc., Manhattan Associates Inc., SAS Institute Inc., IBM Corporation, Oracle Corporation, SAP SE, and MicroStrategy, Inc. Investments in warehouses and partnerships among players are strategies witnessed in the market. Development of technologies such as blockchain, artificial intelligence, and IoT can disrupt the supply value chain and streamline processes.