The Global Supply Chain Analytics Market revenue to reach of $9.43 Billion by 2024
Supply Chain Analytics market is expected to grow at a CAGR of 17.72% during the forecast period 2018–2024
Bangalore, India, May, 2018: The recently published Infoholic Research study “Supply Chain Analytics – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2024”, Infoholic Research forecasts that the US held the largest market share of the supply chain analytics market in 2017 and is expected to dominate the supply chain analytics market during the forecast period. The factors driving the growth of the market in this region includes the advancements in technologies such as IoT, AI, and Bigdata with the increasing adoption of these technologies, increasing spending on supply chain analytics along with increasing fleet management and geolocation trends. The market is also expected to surge because of increasing awareness of supply chain analytics and its benefits for business growth.
Supply chain analytics is implemented across industries to reduce operational cost, enhance business growth, and increase customer satisfaction. Need for better supply chain visibility, reduced warehousing costs, changing customer demands and forecast are expected to bolster the demand for supply chain analytics solutions. Several organizations are implementing solutions to achieve high productivity and enhanced supply chain visibility.
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Supply chain analytics helps large enterprises in measuring their operational efficiency across customized key performance indicators (KPIs) and identify customer/partner demand patterns. Small and medium enterprises are increasingly adopting this solution to improve their supply and demand management system as it helps them improve bottom line costs with more emphasis placed on improved forecasting and enabling them to be more responsive to customer needs.
“Increased globalization, economic uncertainty, and faster product lifecycles have made today’s supply chains much more complex to manage. With the rising volume of business data and the need to improve productivity, reduce operational cost and to uplift customer satisfaction many enterprises are adopting the supply chain analytics, Supply chain analytics provides end to end visibility in supply chain process which helps in better understanding the customers’ requirements and expectations. With the real-time analytics supply as well as demand side can be balanced which results in increasing revenue.”–Sonam Chawla, Research Analyst at Infoholic Research
Supply chain analytics will continue to play a vital role in manufacturing industry to better understand the entire supply chain between manufacturer, supplier, wholesaler, retailer and customer. Data collected from suppliers, distributors, customers and the enterprise for different sites of a manufacturing company must be aligned with all the detailed information to provide manufacturers with a complete and real-time analysis to reduce operating costs as well as transportation and logistics costs.
America is the leading region for the Supply Chain Analytics market, followed by Europe and APAC. The market in the APAC region is expected to witness high growth, given the increase in number of startups and SMEs and their readiness to adopt the supply chain analytics solutions. While the adoption of analytics is to promote the growth of their business, smaller organizations also perceive the underlying benefits of supply chain analytics including increased profitability, business expansion, high customer satisfaction, reduced logistics, transportation and warehousing costs. Among the countries covered in the report, the US, India and China are expected to grow at a rapid rate during the forecast period due to the increasing need for real time decisions and demand planning & forecasting.
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The report aims to highlight key insights from service providers, verticals, and stakeholders. The report covers the current scenario and the development prospects of the Supply Chain Analytics market during the forecast period 2018–2024. It also provides an in-depth analysis and forecast of the industry covering the following key features:
- The report not only highlights the challenges associated with the supply chain analytics market, but it also brings in the major vendors investing in this space to alleviate these challenges.
- The report is analyzed based on Solution, Service, Deployment, Enterprise Size, End User and regions.
- The report covers the evolution of smart features, advantages, and importance of the technology in terms of future perspective.
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2018–2024).
- The report contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies and competitive landscape, which includes vendor assessment.
- The report covers an analysis of countries such as the US, Canada, UK, Germany, GCC countries, South Africa, India, China, and Japan.