The global supply chain analytics market size is expected to grow from USD 3.5 billion in 2020 to USD 8.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.8% during the forecast period. Factors that drive the market growth are increasing volume and velocity of data, need to enhance operation and supply chain efficiencies, and the advent of AI and machine learning into supply chain management.
Demand Analysis and Forecasting segment constituted the largest market share during the forecast period
The demand analysis and forecasting software is one of the major software in the supply chain analytics market that helps companies forecast the future demands for a product through historical data analysis. Demand forecasting helps the company manage inventory levels during peaks and troughs, thereby ensuring the products are not overstocked or understocked. The demand analysis and forecasting solution facilitate businesses to boost their service levels, shorten cycle times, reduce inventory investment, and minimize obsolescence.
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Services segment to grow at a higher CAGR during the forecast period
In component, the services segment is expected to grow at a higher CAGR during the forecast period. Professional services and managed services help enterprises in building successful client relationships by continuously supporting them through business tenure. Furthermore, these services benefit enterprises by maximizing resource usage, improving project execution, and streamlining business operations.
The supply chain analytics market comprises major solution providers, such as SAP (Germany), Oracle (US), IBM (US), SAS Institute (US), Software AG (Germany), MicroStrategy (US), Tableau (US), Qlik (US), TIBCO (US), Cloudera (US), Logility (US), Savi Technology (US), Infor (US), RELEX Solutions (Finland), TARGIT (Denmark), Voxware (US), The AnyLogic Company (US), Antuit (US), Axway (US), AIMMS (Netherlands), BRIDGEi2i (India), Domo (US), Datameer (US), 1010data(US), Rosslyn Analytics(UK), Blue Yonder (US), Manhattan Associates (US), and DataFactZ (US).
The study includes an in-depth competitive analysis of these key players in the supply chain analytics market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgrades; and partnerships, agreements, and collaborations have been the most dominating strategies adopted by the major players from 2018 to 2020, which helped them innovate on their offerings and broaden their customer base.
Oracle is among the leaders in the supply chain analytics market with a global presence. The company has a balanced growth strategy in the market, including significant product launches diversifying Oracle’s supply chain analytics product portfolio, and increasing the company’s market reach. Oracle offers different products for supply chain analytics such as Procurement and Spend Analytics, Supplier Performance Analytics, Inventory Analytics, and PeopleSoft Supply Chain Analytics. For instance, in May 2018, Oracle launched new AI cloud applications for supply chain managers to discover patterns and gain insights on product issues. The strong network of channel partners and distributors has strengthened the reach of the company across the world. In the past few years, the company has increased its cloud-based portfolio and launched several of its products on cloud catering to the requirements of SaaS-based businesses. Furthermore, the company invests a significant amount of its revenue in R&D.;
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Similarly, IBM provides a wide range of supply chain analytics solutions that enable users to predict, assess, and mitigate risks proactively. IBM offers Watson Order Optimizer with the capabilities of IBM Cognos Supply Chain Procurement Performance Analytics dedicated to the supply chain department of myriad industries. IBM offers three products for supply chain analytics, namely IBM Watson Supply Chain Insights, IBM Watson Order Optimizer, and IBM Cognos Supply Chain Performance Procurement Analytics. Furthermore, in October 2018, the company released Watson Supply Chain Insights that offers real-time data about supply chain operations to supply chain officers. The company has been continuously investing in R&D; to focus on high-growth strategic opportunities and expand its market presence. Moreover, a strong cloud footprint also enables the company to deliver its analytics solutions efficiently through the cloud. Headquartered in New York, US, the company has additional offices in North America, the Middle East and Africa (MEA), Europe, and APAC.
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