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Increasing Vvolume and Vvelocity of Ddata is to driveing the growth of the market
MarketsandMarkets estimates the global supply chain analytics market to grow from USD 3.6 billion in 2018 to USD 7.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period. The demand need offor precise demand forecasting and analysis tools and adequate efficiencies across the total supply chain process is propelling the growth of the supply chain and analytics market. However, the lack of skilled personnel would limit the growth of the market.
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Need to analyze demand patterns, develop effective production plans, and improvise forecast accuracy would to drive the adoption of demand analysis and forecasting software solutions
Supply chain analytics software helps business organizations to collect, distill, and analyze the massive generated data generated by them. Due to burgeoning of data across industries, these software helps companies interpret and translate the unstructured data into informational insights. Demand analysis and forecasting is one of the major software in the supply chain analytics market that helps companies forecast the future demands for a product through historical data analysis. Demand forecasting helps the company manage inventory levels during peaks and troughs, thereby ensuring the products are not over-stocked or understocked. The demand analysis and forecasting solution facilitates businesses to boost their service levels, shorten cycle times, reduce inventory investment, and minimize obsolescence.
Cloud- based supply chain analytics software are to gaining traction owing to improved agility, scalability, and security
The supply chain analytics software can be deployed on-premises as well as on cloud, as per the business requirement. Cloud-based deployment benefits organizations with increased scalability, speed, 24/7 services, and improved IT security. Owing to an increasing number of applications being deployed over cloud, there is a shift from traditional on-premises supply chain software to cloud-based supply chain software across enterprises of all sizes. On-premises deployment allows organizations to control all the systems and data, but organizations also have to pay the cost for hardware, software, and other resources used for its maintenance. It also restricts the storage capacity that is needed to maintain new functionalities and technologies.
Supply chain analytics market in APAC (Asia Pacific) is projected to grow at the highest CAGR during the forecast period
The high growth of the supply chain market in Asia Pacific (APAC) is attributed to the flexible economic conditions, industrialization and globalization-motivated policies of governments, and the expanding digitalization in the region. Being the home region for technologically advanced countriescountries such as China, India, Japan, South Korea, and Singapore, which are considered as technologically advanced countries, the growth prospect of deploying for advanced supply chain analytics solutions in this region looks sharp. Moreover, the growing traction of the manufacturing industry vertical across China and India and the rising eCommerce across the APAC region isare expected to offer unprecedented opportunities to the supply chain analytics software vendors to sell their solutions in the region.
In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the TV analytics market.
- By Company: – Tier 1–22%, Tier 2–30%, and Tier 3–48%
- By Designation: – C-Level–30%, Director Level–45%, and Others–25%
- By Region: – North America–42%, Europe–26%, APAC–20%, and RoW–1512%
The supply chain analytics market comprises major solution providers, such as IBM (US), SAP SE (Germany), SAS Institute (US), Oracle (US), Infor (US), MicroStrategy (US), Tableau (US), Voxware (US), TIBCO Software (US), Qlik (US), TARGIT (Denmark), AIMMS (Netherlands), Axway (US), Software AG (Germany), Savi TechnologyAVI (US), Antuit (US), Relex Solutions (Finland), BRIDGEi2i (India), The Anylogic Ccompany (US), Logility (US), Domo (US), Datameer (US), 1010data (US), Cloudera (US), and Rosslyn Analytics (England). The study includes in-depth competitive analysis of these key players in the supply chain analytics market with their company profiles, recent developments, and key market strategies.
- The supply chain analytics market revenue is primarily classified into revenues from software and services.
- The Ssoftware revenue is associated with software and platform offerings, while the services’ revenue is associated with managed and professional services.
- The professional services comprise support and maintenance, and consulting.
- The market is also segmented on the basis of software, service, , technology types, organization size, deployment model, vertical, and regions.
Key benefits of the report
- The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall supply chain analytics market and the subsegments.
- This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with the information on the key market drivers, restraints, challenges, and opportunities.