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  September 8th, 2023 | Written by

Supply Chain Analytics Market is expected to cross USD 30 Bn by 2032 

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The Supply Chain Analytics Market is set to grow from its current market value of more than $6 billion to over $ 30 billion by 2030; as reported in the latest study by Global Market Insights, Inc.

Supply Chain Analytics Market is anticipated to grow considerably through 2032 owing to the rising demand for supply chain analytics software and solutions. Product merits such as data visualization, stream processing, social media integration, natural language processing, location intelligence, and the supply chain’s digital twin are slated to increase its adoption during the next decade.

Overall, the supply chain analytics market is segmented in terms of component, solution, service, organization size, deployment model, application, and region.

Based on components, the service segment is anticipated to demonstrate sturdy growth. The rising emergence of managed services across diverse industry verticals is anticipated to drive segmental expansion.

In terms of solutions, the procurement analytics segment is projected to exhibit a 20% market share by 2032. Procurement analytics assist organizations in optimizing working capital, identifying price variance by division or geography, identifying any variance from the agreed KPIs and defined process, understanding the existing supplier base’s performance, and identifying opportunities to integrate further.

Based on service, the managed service segment was valued at over USD 600 million in 2022. The managed services help in product development, supply chain planning, sourcing and procurement, manufacturing strategy and operations, logistics and distribution, sustainability, and supply chain monitoring and control.

Considering the organization size, the SME segment held a 25% market share in 2022. The segment is expected to grow considerably in the next ten years, owing to the shifted focus of SMEs to manage their supply chain operations by leveraging cost-effective solutions and limiting capital expenditure.

Based on the deployment model, the cloud deployment model is anticipated to experience robust growth through 2032. Cloud-based deployment models help enterprises opt for monthly SaaS subscription fees and avoid large capital expenditures on hardware and software licenses. Besides, big data and artificial intelligence are also transforming the supply chain by offering real-time tracking technologies.

In terms of application, the manufacturing segment is slated to grow considerably through 2032. Since supply chain management assists the manufacturing industry in saving time, reducing distribution, production, purchasing, and overall supply chain cost, improving product quality, meeting deadlines, and supporting the company’s infrastructure, they are being increasingly adapted across various industries.

Regionally, the Europe supply chain analytics market is anticipated to hold a 20% market share during 2023-2032. The presence of leading e-commerce companies in the European economies that have put pressure on sales channels for faster delivery and optimum supply chain management will augment the regional market growth.