Supply Chain Analytics Market to grow at a CAGR of 20.07% from 2022 to 2027| Increased Need to Improve Business Processes to Influence Market Growth - Technavio
The supply chain analytics market size is expected to grow by USD 10,121.6 million during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 20.07% from 2022 to 2027, according to Technavio. The increased use of predictive analytics in the supply chain is a major trend in the market. Predictive modeling technology can be customized for groups of customers or for single customers. The result is a precise and efficient solution that reduces costs while improving overall production efficiency. In addition, it helps in the efficient management of the supply chain and focuses on forecasting relevant future events. Hence, the benefits of predictive analytics are expected to drive market growth during the forecast period.
Supply Chain Analytics Market 2023-2027: Scope
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our supply chain analytics market report covers the following areas:
- Supply Chain Analytics Market size
- Supply Chain Analytics Market trends
- Supply Chain Analytics Market industry analysis
- Supply Chain Analytics Market Five forces analysis
- Supply Chain Analytics Market competitive landscape
Supply Chain Analytics Market 2023-2027: Segmentation
Supply Chain Analytics Market is segmented as below:
- North America
- Middle East and Africa
- South America
The market share growth by the retail segment will be significant during the forecast period. This is due to the emergence of technologies such as big data, IoT, and workflow automation. to remain competitive in the market companies are using supply chain analysis. Analytics solutions facilitate content collaboration between companies, retailers, suppliers, wholesalers, and end users. Additionally, the introduction of supply chain analytics will enable retailers to simplify their operations and provide improved service to their customers. Hence, these factors are expected to drive segment growth during the forecast period.
What's New? -
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial
Supply Chain Analytics Market 2023-2027: Market Dynamics
The increased need to improve business processes is a key factor driving market growth. The various predictive mechanisms and hedging models are used to improve business productivity through supply channel analytics. It helps companies gain growth opportunities and reduce defects and failure rates in products and services. Additionally, it helps organizations get an overview of the entire supply chain, measure its performance through customized key performance indicators (KPIs), and identify demand patterns. Hence, these factors are expected to drive market growth during the forecast period.
The implementation challenges may restrict the supply chain analytics market growth. Coordinating demand and capacity between suppliers and customers is complex. Additionally, supply chain processes involve many critical variables, making optimization difficult to achieve. Companies have their own planning and data storage systems that may not be compatible with end-to-end processes and full data visibility. This complexity in SCM software solutions has increased in recent years. Thus. These factors are expected to restrict market growth during the forecast period.
Supply Chain Analytics Market 2023-2027: Company Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. American Software Inc., Antuit Inc., Axway Software SA, Cloudera Inc., Datameer Inc., Infor Inc., International Business Machines Corp., Manhattan Associates Inc., MicroStrategy Inc., Oracle Corp., QlikTech International AB, RELEX Oy, SAP SE, SAS Institute Inc., Savi Technology Inc., Software AG, Tableau Software LLC, TARGIT AS, TIBCO Software Inc., and Voxware Inc. are some of the major market participants.
- Antuit - The company offers advanced supply chain analytics, which uses artificial intelligence to fill in the gaps.
- Cloudera Inc - The company offers supply chain analytics through which we learn about trends in the retail, manufacturing, and supply chain industries, and how decision-makers can apply new data sources and technologies.
- Datameer Inc. - The company offers supply chain analytics which involves making data-driven decisions to improve operational and tactical efficiency between company touchpoints.
Supply Chain Analytics Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist supply chain analytics market growth during the next five years
- Estimation of the supply chain analytics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the supply chain analytics market
- Analysis of the market's competitive landscape and detailed information on companies
- Comprehensive details of factors that will challenge the growth of supply chain analytics market companies