Supply Chain Analytics Market Will Generate New Growth Opportunities By 2023

The enterprise adoption of big data analytics in supply chain management is a relatively recent development compared to other business areas, but is fast gaining traction in wide range of industries. The proliferation of unstructured datasets that may influence supply chain management has triggered the demand for Big Data technologies among businesses. Allocating shelf space at retail stores is a case in point where there is pressing demand for making sense of unstructured data for manufactures. Organizations world over are inclined to achieve the top-line growth focus on reducing the materials waste and improving forecast accuracy through machine learning technologies. Smart stock management system for warehouses and distribution centers rely on supply chain analytics and automatically alert restocking requirements. Supported by machine learning technologies, supply chain analytics is opening up promising prospects in inventory management and transportation logistics in industries such as retail, healthcare, consumer packaged goods, electronics, automotive, aerospace, and defense.

Advancements in sensors used in monitoring devices are expected to boost the market in the years to come. Efforts to augment the potential of database management tools are expected to accentuate the growth of the market. The innovative use of Big Data in supply chain management has led to fresh insights and has unlocked exciting prospects in industrial sectors in various developing and developed economies. The growing popularity of cloud-based solutions in supply chain analytics, notably among a growing number of small and medium scale enterprises, bodes well for the market. The staggering rise in manufacturing activities in a number of emerging economies, particularly in Asia Pacific, is expected to open abundant promising opportunities for market players. The rising adoption of supply chain analytics can be attributed to the substantial benefits they offer to end-use industries. The rising industry efforts on product innovations, especially in developed markets, is a notable factor accentuating the growth over the forecast period.

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Supply chain optimization is gaining importance among organizations striving to lift customer experience, attain a stable business growth, and decrease the operational costs. Such organizations are incessantly executing solutions related to supply chain analytics in order to attain top-line progress, enhance productivity, and consolidate their market presence. These solutions are known for minimizing waste of materials, supporting network reconfiguration, enhancing forecast accuracy, elevating the level of services, and reducing inventory. With these benefits being highly acknowledged, the global market for supply chain analytics is anticipated to tread along a strong growth track. Supply chain analytics can also be deployed as on-premise solutions or cloud-based solutions.

The report is an inspection into the expansion of the global supply chain analytics market over the couple of years and for the years ahead. The market research publication further sorts out the causes of the variations in the market on the global and regional basis. It does this so by assessing the aspects and the trends that were predominant over the last few years and also the ones that are anticipated have an effect on the market over the forecast period. The Porter’s five forces analysis has been also been taken into account by the analysts in order to provide a clear outline of the vendor landscape to the reader of the report. Acquisitions, agreements, mergers, and other businesses have also been stressed in the study. The research study further inspects the administration and workflow of the key players and offers information related to their products, marketing strategies, production process, latest developments, and market shares in the past and future years.

The growth of the global supply chain analytics market is mainly driven by the growing awareness among consumers regarding the benefits of supply chain analytics solutions. In the last couple of years, the demand for these type of solutions has risen substantially across industries such as retail, manufacturing, life science, healthcare, electronics, defense, consumer packaged goods, automotive, and aerospace. Furthermore, the burgeoning amount of data produced and processes per day and the pressing requirement for efficient and effective database management tools is likely to lift the demand for supply chain analytics solutions. Nevertheless, issues such as the dearth of visibility of data in real-time, the lack any reliable method in order to streamline the processes with planning and execution, no tractability within the desired network, and uncertainties in the product line are expected to limit the growth of the market for supply chain analytics in the global level. Moreover, the deployment of these solutions is also low among medium and low sized institutions owing to constraints related to budget.

At present, North America accounts for a considerable share in the global supply chain analytics market owing to the presence of numerous leading players in the region. Asia Pacific is also expected to emerge as a promising region for the growth of the market owing to the flourishing manufacturing activities in the region along with growing investments for the purpose of foreign expansion. The rising awareness among organizations regarding the benefits of supply chain analytics is also expected to bode well for the growth of the market in these regions.

Some of the leading players operating in the market are SAS Institute Inc., Oracle Corporation, Sage Clarity LLC, Kinaxis Inc., SAP SE, IBM Corporation, Microstrategy, Genpact Ltd., Capgemini S.A., and Birst Inc.

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