Originally published on Technavio:In-Depth Analysis of the Global Supply Chain Analytics Market (2023-2027)
Introduction:
Technavio offers an exhaustive examination of the Supply Chain Analytics Market, forecasting significant growth with an estimated USD 10,121.6 million expansion at a robust Compound Annual Growth Rate (CAGR) of 20.07% between 2022 and 2027. The market dynamics are influenced by factors such as the increasing emphasis on enhancing business processes, the surge in demand for omnichannel retailing, and the growing need for improved visibility.
Market Dynamics:
Key Driver: The market experiences substantial growth driven by the increasing emphasis on enhancing business processes. Supply chain analytics boosts business productivity through predictive mechanisms and risk-averting models, leading to growth opportunities and reduced errors in products and services. As organizations prioritize integrating supply and demand management, supply chain analytics becomes a crucial priority, resulting in heightened demand among various manufacturing companies.
Significant Trend: A key trend influencing market growth is the escalated use of predictive analytics in the supply chain. Customizable predictive modeling techniques lead to accurate solutions, enhancing overall production efficacy and reducing costs. Predictive analytics facilitates efficient supply chain management by making projections about future events, such as the vendor-managed inventory (VMI) process, optimizing inventory thresholds, and planned deliveries.
Major Challenge: Implementation challenges pose a potential obstacle to market growth. Interconnected global supply chain networks make analytics application complex, with intricate coordination of demand and capacities. This complexity, coupled with evolving B2B standards and incompatible planning and data storage systems, may hinder optimization feasibility, impacting the market negatively.
Market Segmentation:
End-User Segment Growth: The retail segment witnesses significant market share growth during the forecast period. Fueled by the adoption of technologies like big data, IoT, and workflow automation, retailers leverage analytics to enhance competitiveness, optimize operations, and deliver improved services to customers.
Deployment Segment Overview: On-premises supply analytics solutions gain favor for superior system security over cloud-based options. Large enterprises, prioritizing functionality and data security, drive the adoption of on-premises solutions, showcasing growth during the forecast period.
Regional Overview:
North America is poised to contribute 39% to global market growth during the forecast period. Factors such as the strong presence of global retailers, well-established distribution channels, and a competitive retail environment enhance business operations and innovations in the region. The US leads the market in North America, driven by the need for increased operational efficiency, cost reduction, and modernization of logistics and warehouse operations.
Customer Landscape:
The market growth analysis report covers the adoption lifecycle of the market, focusing on penetration rates in different regions. Key purchase criteria and drivers of price sensitivity are highlighted, aiding companies in evaluating and developing growth strategies.
Major Market Companies:
Leading companies employ various strategies, including alliances, partnerships, mergers, acquisitions, and product/service launches. Key market players include.
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The Supply Chain Analytics Market report provides a detailed forecast of market growth globally, regionally, and at the country level from 2017 to 2027. Key drivers, trends, challenges, and emerging market trends such as the increased use of predictive analytics are covered. The report is a valuable resource for stakeholders in diverse industries, emphasizing the significance of analytics solutions to streamline operations and foster growth.
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