Supply chain optimization remains a top priority for organizations trying to cut operational cost, sustain business growth and increase customer satisfaction.
Major factors such as low supply chain visibility, shortening product life cycles, high warehousing costs, inefficient supplier networks, ineffective forecasts, and changing customer demands are making supply chain optimization a challenging task for enterprises.
Deploying supply chain analytics solution help attain top-line growth, enhance profitability and increase market share by receiving key insights that further help end-users make data driven decisions, and provides an integrated view of the supply chain. Such solutions provide executives with a 360 degree visibility into the value chain/supply chain and help reducing inventory cost, accelerating time to market for products, improves sustainability and profitability in the long run.
Supply Chain Analytics Market: Drivers and Restraint
Increasing amount of business data and the need for effective database management tools for converting the same into a valuable asset by varied end-user verticals is accelerating the growth of supply chain analytics market across the globe. Rising awareness regarding potential benefits of supply chain analytics such as high statistical forecasting accuracy, and real-time updates across developed regions are further anticipated to boost the growth of supply chain analytics market during the projection period.
However, lack of awareness regarding supply chain analytics products and services in developing regions is expected to restrain the growth of supply chain analytics market. Furthermore, budgetary constraints amongst enterprises is likely to deter the progression of supply chain analytics market amidst the forecast period 2016-2026.
Supply Chain Analytics Market: Segmentation
Supply chain analytics market is segmented on the basis of type, deployment model, vertical and region. On the basis of type, supply chain analytics market can be segmented into solution and service.
The solution segment can be sub-segmented into supply chain procurement & planning tool, demand, capacity & operations planning tool, manufacturing analytics, inventory planning & optimization analytics tools, transportation & logistics analytics, and scheduling & reporting tools. By service, supply chain analytics market can be further sub-segmented into implementation & integration service, consulting service, support service and managed service.
On the basis on vertical the supply chain analytics market can be segmented into public sector, retail, manufacturing, transportation & logistics, healthcare, and other verticals. Regionally, supply chain analytics market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.
Supply Chain Analytics Market: Regional Outlook
Supply chain analytics market is witnessing robust growth and is expected to witness double digit CAGR during the forecast period. North America was the dominant regional market in 2015 followed by Western Europe.
These two regions combined represented market share of more than 40% in 22015, but are expected to lose their share to some extent to other regions during the forecast period. Asia Pacific is expected to exhibit highest growth rate among all the regions.
Supply Chain Analytics Market: Competition Landscape
The key vendors in the supply chain analytics market include IBM Corporation, Oracle Corporation, SAS Institute Inc., SAP SE, Capgemini SA, Tableau Software Inc., Entercoms Inc., Birst Inc., Demand Solutions Group LLC, Tata Consultancy Services Ltd and Kinaxis Inc. Major vendors operating in the supply chain analytics market enhance their market share by investing significantly on sales channels across the globe.
Furthermore, collaborating with other players in the supply chain analytics market is another strategy followed by major market vendors to gain competitive edge.
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