Supply Chain Analytics Market size worth USD 25.1 Billion, Globally, by 2031 at 19.20% CAGR: Verified Market Research®

The report provides an in-depth analysis of the global Supply Chain Analytics Market, including its growth prospects, market trends, and market challenges.

LEWES, DELAWARE, UNITED STATES, July 18, 2024 /EINPresswire.com/ -- The Global Supply Chain Analytics Market is projected to grow at a CAGR of 19.20% from 2024 to 2031, according to a new report published by Verified Market Research^®. The report reveals that the market was valued at USD 6.95 Billion in 2024 and is expected to reach USD 25.1 Billion by the end of the forecast period.

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Global Supply Chain Analytics Market Gains Momentum: Market Drivers, Outlook, and Key Players
The global Supply Chain Analytics Market is experiencing robust growth, driven by several key factors. Chief among these is the widespread adoption of Internet of Things (IoT) devices across various industry verticals, including automotive, manufacturing, and healthcare. The surge in IoT device usage has generated massive datasets, compelling organizations to implement advanced analytics solutions to optimize their supply chains.

Additionally, the escalating global usage of high-speed internet connectivity and smartphones has significantly bolstered the e-commerce sector, fueling the demand for analytics solutions within the market.

Market Drivers and Trends
1. Technological Advancements and IoT Proliferation: The adoption of IoT devices has transformed supply chain operations, enabling real-time tracking, enhanced visibility, and improved decision-making processes. The integration of advanced analytics with IoT-generated data is driving efficiencies and reducing operational costs.
2. Growth of E-commerce: The expansion of the e-commerce sector, propelled by high-speed internet and smartphone penetration, has increased the complexity of supply chains. This has necessitated the implementation of sophisticated analytics solutions to manage inventory, demand forecasting, and logistics more effectively.
3. Emerging Market Players in the Cold Chain Monitoring Market: New entrants are focusing on technological innovations to enhance cold chain monitoring, ensuring the integrity of temperature-sensitive products throughout the supply chain.
4. Technological Innovations Transforming Cold Chain Monitoring: Innovations in sensor technology, data analytics, and IoT are revolutionizing cold chain monitoring, providing real-time data and predictive insights to prevent spoilage and ensure product quality.
5. The Importance of Cold Chain Monitoring in the Pharmaceutical Industry: The pharmaceutical sector and cold chain monitoring is critical for maintaining the efficacy and safety of temperature-sensitive drugs and vaccines. Advanced monitoring solutions are essential for compliance with stringent regulatory requirements.

Market Outlook
The evolution of the Supply Chain Analytics Market is closely tied to technological advancements, IoT proliferation, and the growing dependence on mobile applications. Despite challenges such as data privacy concerns and integration complexities, innovative solutions and strategic investments are poised to enhance adoption rates, particularly among Small and Medium Enterprises (SMEs).

Regional Insights
North America continues to lead the Supply Chain Analytics Market, driven by the early adoption of advanced technologies and the presence of major market players. However, global collaborations and tailored approaches are pivotal in unlocking the full potential of supply chain analytics across diverse industries. Emerging markets in Asia-Pacific and Europe are also witnessing significant growth, supported by increasing investments in digital infrastructure and the growing recognition of the benefits of analytics-driven supply chain management.

Supply Chain Analytics Market Key Players:

Prominent players in the Supply Chain Analytics Market include Birst Inc., Capgemini, Genpact, IBM Corporation, Kinaxis Inc., MicroStrategy, Oracle Corporation, SAP SE, SAS Institute Inc., and Tableau Software.

The global Supply Chain Analytics Market is poised for continued growth, fueled by technological advancements and innovative solutions. As industry leaders collaborate and invest strategically, the market is set to witness further expansion, overcoming challenges and creating new opportunities for businesses worldwide.

Global Supply Chain Analytics Market Segment Analysis

Based on the research, Verified Market Research^® has segmented the global Supply Chain Analytics Market into Deployment Model, Service, Application, Component, And Geography.

• Supply Chain Analytics Market, by Deployment Model
o On-premise
o Cloud-based

• Supply Chain Analytics Market, by Service
o Managed Services
o Professional Services

• Supply Chain Analytics Market, by Application
o Healthcare and life sciences
o Manufacturing
o Automotive
o Retail and Consumer Packaged Goods
o High Technology Products
o Aerospace and Defense
o Others

• Supply Chain Analytics Market, by Component
o Sales & Operation Planning
o Manufacturing Analytics
o Transportation & Logistics
o Others

• Supply Chain Analytics Market, by Geography
o North America
 U.S
 Canada
 Mexico
o Europe
 Germany
 France
 U.K
 Rest of Europe
o Asia Pacific
 China
 Japan
 India
 Rest of Asia Pacific
o ROW
 Middle East & Africa
 Latin America

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