Northbrook, IL 60062 -- (SBWire) -- 07/26/2022 --According to a new market research report published by MarketsandMarkets™, Supply Chain Security Market size is projected to grow from USD 903 million in 2021 to USD 1,227 million by 2026, at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period.
Major driving factors for the supply chain security market include rise in ransom and supply chain attacks, increasing IoT devices in the supply chain, need for enhanced risk prediction and mitigation, and widespread adoption of automation technology across the supply chain.
Browse in-depth TOC on "Supply Chain Security Market by Component (Hardware, Software, and Services), Application (Data Protection, Data Visibility, and Governance), Organization Size, Vertical (FMCG, Healthcare, Retail, and eCommerce), and Region - Global Forecast to 2026"
188- Tables
45- Figures
214- Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=123703201
By component, the services segment to register a higher growth rate during the forecast period
The services segment includes various services that are required to deploy, execute, and maintain the supply chain security software and hardware in an organization. As the adoption of the supply chain security solution increases, the demand for these services is also expected to increase. Supply chain security can be provided through professional security analysts who provide remote assistance and incident response to clients in case of suspicious activities. Professional services include training and education, and support and maintenance. As the adoption of supply chain security increases, the demand for these services is also expected to soar. Supply chain security services ensure 24/7 protection against increasing sophisticated architectures, SOCs manned by security experts and quick incident response services. Supply chain security vendors offer customized subscriptions and professional services to assist end users in easy planning and deployment of supply chain security solutions.
Based on vertical, the retail and eCommerce segment to grow at the highest CAGR during the forecast period
Online retail and e-commerce businesses are largely the targets of cyberattacks. These attacks can lead to poor website performance, site downtime, exposure of sensitive customer data, and lost revenue. The rise in omnichannel retailing, eCommerce, and mobility has made it necessary for retailers to have improved visibility in the entire supply chain and have real-time management of demand. The demand in this vertical varies as customers make rapid and efficient purchases from various channel options available. To ensure seamless operations, the retailers and wholesalers are upgrading traditional supply chain security systems by embracing retail cloud solutions. By adopting supply chain security solutions and services, retailers can gain useful visibility and track inventory throughout the entire lifecycle, ensuring agility and profitability by catering to the high demands of consumers. These solutions offer numerous benefits to the enterprises, including reduced capital and operational expenditure, scalability, improved efficiency, inventory visibility, systems integration, robust security, and accessibility to data.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=123703201
North America to hold the largest market share during the forecast period.
North America has several prominent market players delivering supply chain security solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the supply chain security markets growth. The geographical presence, significant Research and Development (R & D) activities, partnerships, and acquisitions and mergers are the major factors for deploying supply chain security and services.
Market Players
Key and innovative vendors in the supply chain security market include Sensitech (US), ORBCOMM (US), ELPRO (Switzerland), Rotronic (Switzerland), Emerson (US), NXP Semiconductors (Netherlands), Testo (Germany), Qingdao Haier Biomedical (China), Monnit Corporation (US), Berlinger & Co. AG (Switzerland), Signatrol (US), IBM (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Omega Compliance (China), Dickson (US), Hangzhou Zeda Instruments (China), Oceasoft (France), Hanwell Solutions (UK), Controlant (Iceland), Tagbox Solutions (India), FreshSurety (US), Astrona Biotechnologies (US), Safetraces (US), MOST (Sweden), and Tive (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: sales@marketsandmarkets.com
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/supply-chain-security.asp
At 6.3% Growth Rate, Supply Chain Security Market Size Estimated to Reach $1,227 Million by 2026
report categorizes the supply chain security to forecast revenues and analyze trends by Component, Application, Organization Size, Vertical, and Regions.