Pune, India -- (SBWire) -- 05/06/2019 --Our latest research report entitled Supply Chain Analytics Market (by solutions (visualization & reporting, logistics, sales & operations, manufacturing analytics, planning & procurement), development (on-premise, cloud), end user (healthcare, transportation, manufacturing, aerospace & defense)) provides complete and deep insights into the market dynamics and growth of supply chain analytics. Latest information on market risks, industry chain structure supply chain analytics cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential supply chain analytics growth factors. The global supply chain analytics market is projected to grow at a CAGR of 13.12% over the forecast period of 2018-2024.
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Supply Chain Analytics Market: Industry Insights
Supply chain analytics is the application of mathematics, statistics and machine-learning techniques to find meaningful patterns and knowledge in order, shipment and transactional and sensor data. Supply chain analytics helps to improve operational efficiency and effectiveness by enabling data-driven decisions at strategic, operational and tactical levels. Supply chain analytics improves forecasting and efficiency.
Supply Chain Analytics Market: Drivers and Restraints
Consumer awareness is growing regarding the benefits of supply chain analytics solutions, which drives the market. In the manufacturing industry, supply chain analytics helps to make all that inventory, raw materials, and work-in-progress to satisfy more customers, without associated increases in stock levels. Supply chain moves the material more quickly that serve to reduce inventory levels. Supply chain analytics solutions facilitate better and strategic decision making and help organizations in strengthening their market position. Organizations are particularly adopting these solutions owing to their enhanced decision-making capabilities for technology, organizational infrastructure. It optimizes the return on investment which is one of the driving factors of supply chain analytics market. Supply chain analytics data is not secured all the time. It can be hacked, and which is a major loss and disadvantage of supply chain analytics.
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Supply Chain Analytics Market: Segmentation
Supply chain analytics is segmented on the basis of solutions, development, and end user. On the basis of solutions, the market is segmented as visualization & reporting, logistics analytics, sales & operations analytics, manufacturing analytics, and planning & procurement. On the basis of development, the sub-markets include on-premise and cloud. Cloud supply chain analytics has benefits like lower total cost of ownership, improved connectivity, seamless upgrades, and data redundancy. On-premise supply chain analytics has benefits like Better Sense of Control, Deeper Customization Options. On the basis of the end user, the markets segmented as healthcare, transportation, retail & consumer goods, manufacturing, aerospace & defence, and others.
Supply Chain Analytics Market: Regional Insights
By the geographic region, North America has the largest market share of supply chain analytics market. In this region, there are several providers of supply chain analytics solutions. The demand for supply chain analytics is more in this region due to which supply chain analytics market is growing in this region. After North America, Asia-Pacific is the second largest market for supply chain analytics. Demand for supply chain analytics is growing in this region because Small and Medium Enterprises are growing in this region. Awareness about the benefits of supply chain analytics is increasing in this region.
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Supply Chain Analytics Market: Competitive Analysis
The top market players in the supply chain analytics market are Manhattan Associates, Inc., JDA Software Group, Inc., SAS Institute Inc., Oracle Corporation, Maersk Group, Capgemini SA, Tata Consultancy Services Ltd, Accenture PLC, Aera Technology, and Lockheed Martin Corporation among others.
Report Findings
1. Drivers
- Increasing Awareness Among Consumers About the Benefits of Supply Chain Analytics Solutions.
- Increasing Need to Manage a Large Amount of Business Data.
2. Restraints
- The High Cost of Implementation of Supply Chain.
- Growing Concerns Regarding Data Security.
3. Opportunities
- Use of Supply Chain Analytics in Transportation.
