New York – May 19, 2023 – Research Nester’s recent market research analysis on “Supply Chain Analytics Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global supply chain analytics market in terms of market segmentation by deployment, end user, and by region.
Growing demand for real-time visibility to Promote Global Market Share of Supply Chain Analytics
The growth of the market is mainly attributed to the increasing demand for real-time visibility and transparency in supply chain operations. With the advent of e-commerce and omnichannel retail, customers expect faster and more efficient product delivery. This has led to an increased demand for real-time visibility and transparency in supply chain operations, which can be achieved through the use of analytics. It found that global e-commerce sales would reach nearly USD 4.9 trillion by 2021, up from nearly USD 3 trillion in 2019.
Additionally, e-commerce sales grew by nearly 30% globally in 2020, and total sales reached nearly USD 4.3 trillion. In the US, e-commerce sales grew nearly 33% in 2020 to reach nearly USD 792 billion. Mobile commerce (m-commerce) is also on the rise, and global m-commerce sales are documented to be close to USD 3.5 trillion by 2021, compared to USD 2.9 trillion in the year 2020.
Some of the major growth factors and challenges that are associated with the growth of the global supply chain analytics market are:
Growth Drivers:
• Real-time Visibility and Transparency
• Predictive and Prescriptive Analytics
Challenges:
One of the biggest challenges for supply chain analytics is the quality and availability of the data. Inaccurate or incomplete data can lead to inaccurate analysis and ineffective decision-making. Data quality and availability are hence estimated to hamper the market growth.
Access our detailed report at: https://www.researchnester.com/reports/supply-chain-analytics-market/4837
By end user, the global supply chain analytics market is segmented into transportation, healthcare, automotive, energy & utilities, and others. The automotive segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period.
The growth of the segment is attributed to the increasing production rate of electric vehicles around the world and the growing awareness of the world population about the negative impact of traffic emissions on human health and the environment. This is supported by the expected high demand. The International Energy Agency reported that 2021 electric vehicle sales exceeded 2020 sales, nearly doubling to 6.6 million. The automotive industry is vulnerable to supply chain disruptions that can have a significant impact on production and sales.
By region, the Asia Pacific supply chain analytics market is to generate the highest revenue by the end of 2035. The regional growth is mainly due to the growing demand for e-commerce. The rapid growth of e-commerce in the APAC region is driving demand for supply chain analytics solutions.
According to a report, e-commerce retail sales in the APAC region were observed to reach nearly USD 2.3 trillion in the year 2021, accounting for almost 64% of the total global e-commerce sales. The APAC region is home to several countries that are at the forefront of adopting automation and AI technologies, including China, Japan, and South Korea.
This report also provides the existing competitive scenario of some of the key players of the global supply chain analytics market which includes company profiling of Tableau Software, LLC, SAS Institute Inc., Capgemini SE, Genpact Ltd., Accenture plc, and others.
