Latest News- Supply Chain Analytics Market: Cloud-based is expected to lead the Deployment segment during 2024-2028

The Supply Chain Analytics Market is being driven by Increased need to improve business processes

The Supply Chain Analytics Market is expected to grow at a CAGR of 19.28% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10.38 billion. In today's business landscape, the application of advanced big data analytics techniques has revolutionized various industries by enabling accurate forecasting of customer buying behavior and patterns. Predictive modeling, a key component of supply chain analytics, allows for customized solutions based on data points, enhancing production efficiency and reducing costs. By making projections about future relevant events, predictive analytics plays a crucial role in optimizing supply chain management. One such application is the vendor-managed inventory (VMI) process, where suppliers are guided by predefined inventory thresholds set by customers, ensuring just-in-time inventory management and minimizing stockouts or overstocking. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Cloud-based
  • On-premises
• End-user
  • Retail
  • Manufacturing
  • Transportation
  • Healthcare
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased need to improve business processes
• Rising e-commerce and omnichannel retailing
• Increasing need to improve supply chain visibility

However, the market also witnesses some limitations, which are as follows:

• Concerns associated with implementation of supply chain analytics
• System integration and complexity issues in the supply chain network
• Lack of analytics professionals

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Market Scope in Supply Chain Analytics Market Research Report

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Research Analysis Overview

The Supply Chain Analytics (SCA) market is witnessing significant growth due to the adoption of flexible and customized solutions, driven by digitization. Logistics and cost optimization are key focus areas, with cost-efficient solutions, network design, automation, and transportation management leading the way. Customer loyalty is enhanced through improved visibility, performance metrics, and cost reduction. Security breaches and disruptions are addressed through consulting and innovation. Sustainability, demand planning, and resilience are also crucial, with cost savings achieved through inventory transactions, optimization, and management software. CRM systems, warehouse automation, training, and logistics management further contribute to the market's growth. Procurement optimization and inventory optimization are essential components of the SCA landscape, mitigating disruptions and enabling data-driven decision making. Sustainability initiatives, such as training and logistics management, are also important factors.

Market Research Overview

The Supply Chain Analytics Market is a segment of the larger Global Application Software Market, which falls under the IT Software Market umbrella. This market comprises businesses specializing in the development and production of software applications for streamlined supply chain operations. Key challenges include managing product supply points, addressing elevated warehousing costs, mitigating data loss, and ensuring customer satisfaction. Technavio's classification includes enterprise and technical software, as well as cloud-based solutions, while excluding companies producing interactive home entertainment software or system software focused on database management.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Email: media@technavio.com
Website: www.technavio.com/