Supply Chain Analytics Market Size, Share, Growth Analysis, By Component(Software, Demand Analysis and Forecasting, Demand and Supply Planning [S&OP Process Management, Supply Chain Risk Management), By Service(Managed Services, Professional Services [Consulting Services, Support and Maintenance Services, Deployment and Integration Services]), By Deployment Mode(On-premises, Cloud), By Organization Size(Small and Medium-sized Enterprises, Large Enterprises), By Vertical(Retail and Consumer Goods, Automotive, Pharmaceutical, Food & Beverage Manufacturing), By Region - Industry Forecast 2024-2031

Supply Chain Analytics Market Drivers

Rising Complexity of Global Supply Chains 

• Supply chains around the world are becoming increasingly complex owing to the implementation of new mandates for supply chains. Companies need to deploy advanced technologies and solutions to streamline their supply chain operations and processes thereby driving up the demand for supply chain analytics as well.  

Adoption of Data-driven Decision-Making 

• Increasing digitization of supply chain and logistics industry has led to high demand for meaningful insights from the data generated in these industries. The use of supply chain analytics to develop meaningful insights from data and promote better decision-making is expected to bolster market growth over the coming years.  

Supply Chain Analytics Market Restraints

High Costs of Implementation

• Implementing supply chain analytics solutions and systems requires substantial capital investment as it requires infrastructure and skilled w workforce as well. These high costs make it adoption of supply chain analytics difficult for small and medium enterprises, thereby slowing down market development potential as well.

Absence of Skilled Workforce 

• Supply chain analytics deals with the use of advanced technologies and systems, which require professionals with expertise in the same. There is a lack of such workforce around the world as supply chain analytics uses very advanced technologies such as artificial intelligence and machine learning.