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Verified Market Research Forecasts Supply Chain Analytics CAGR at 13.22%

October 1, 2021

According to Verified Market Research, the Global Supply Chain Analytics Market size was valued at USD 5.06 Billion in 2020 and is projected to reach USD 13.68 Billion by 2028, growing at a CAGR of 13.22 % from 2021 to 2028.

Global Supply Chain Analytics Market Overview

Analytics is the ability to make data-driven decisions based on a summary of relevant often using visualization in the form of graphs, charts, trusted data and other mean. Supply chain generate huge amount of data and supply chain analytics helps to make sense of all the available data by covering patterns and generating insights.

Supply chain analytics offers advantages such as accurate forecast, risk management, planning and scheduling, order optimization, inventory management, and real-time supply chain execution in end-use industries. Rising consumer and government preferences for artificial intelligence boosting the demand for supply chain analytics in the market.

Rising government initiatives in the supply chain management to recover the global economy from the covid-19 pandemic driving the growth of the supply chain analytics market across the globe. For instance, in April 2021, Japan, India, and Australia have launched a supply chain resilience initiative in the Indo-pacific region. This initiative aims to support the utilization of digital technology, attract FDI, and reduce dependency on China to have sustainable, balanced growth in the region.

Furthermore, the international labor organization (ILO) provides guidelines to governments, private enterprises in the framework of focusing on foreign direct investment (FDI) and trade through the global supply chain to make economic stability across the globe.

Key Developments in Supply Chain Analytics Market

Key players are adopting new growth strategies such as new technology development, product innovation, mergers, and acquisitions to gain market share, and business expansion in the global supply chain analytics market.

In April 2020, Capgemini SA (France) acquired WhiteSky Labs (Australia) information technology and Services Company to focuses on expanding its business in the Asia Pacific region for digital transformation. With this acquisition Capgemini SA enabling their customers to unlock their data across cloud apps and devices to make smarter and faster decisions to save time and cost.

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