Seattle, WA -- (SBWIRE) -- 10/07/2019 -- Supply chain analytics the application of mathematics, predictive modeling, statistics, and machine-learning techniques to find meaningful patterns for shipment and transactional data. Supply chain analytics analyzes data to provide precise forecasting that is in sync with current and future market trends. Moreover, supply chain analytics solution is focused on providing real time analysis for huge data set. Rapid growth of free data set through record management of forecasting, transportation logistics, retail and manufacturing, data or transaction of banks and finance, and business tax are expected to boost growth of the global supply chain analytics market. Moreover, increasing requirement for analysis and management of huge unstructured data set in shorter time span, which is labor intensive is expected to drive the market growth. For instance, machine learning algorithms find applications in warehouses to display an intelligent stock management system for the prediction of resupply requirement in future. Moreover, in finance sector, supply chain analytics are utilized to predict capital costs or the probability of working capital, which assists to target the best suppliers and also provides immediate warning of budget overruns. In transportation industry, supply chain analytics software can forecast the impact of weather on shipments.

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However, concerns regarding data security concern is expected to hinder growth of global supply chain analytics market.

Global Supply Chain Analytics Market Taxonomy

On the basis of component, the global supply chain analytics market is segmented into:
- Services
- Solutions

On the basis of deployment mode, the global supply chain analytics market is segmented into:
- Cloud
- On-Premises

On the basis of end user industry, the global supply chain analytics market is segmented into:
- Retail and Consumer Packaged Goods (CPG)
- Healthcare and Life Sciences
- Manufacturing
- High Tech and Electronics
- Automotive
- Aerospace and Defense

Global Supply chain analytics market is expected to witness significant growth, owing to growing healthcare sector in the near future.

On the basis of regions, the global supply chain analytics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2016, North America held the dominant position and accounted for the largest share in the global global supply chain analytics market. This is owing to wide application of supply chain in healthcare sector. Accuracy is one of the major concerns in the healthcare sector machine learning seems to have resolved the problem. Machine learning has the ability to provide more precise diagnosis and other healthcare services, which in turn, has increased the demand for supply chain analytics in healthcare sector. For instance, diagnosis of diabetic eye disease requires frequent examination of pictures at the back of an eye by the specialist. The features in the image helps to detect sensitivity of disorders, which indicates fluid leakage and bleeding. In 2016, Google developed a deep-learning algorithm, which analyzes images and provides training to the system by using a data set of 128,000 images. Therefore, the system diagnosed the disease with a level of accuracy similar to human ophthalmologists. Moreover, Google's healthcare sector is involved in developing a deep-learning algorithm for early diagnosis of skin cancer and breast cancer.

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Major players operating in the global supply chain analytics market are IBM Corporation, Microstrategy, Oracle Corporation, SAP SE, SAS Institute, INC., Capgemini Inc., Genpact, Kinaxis INC., Tableau Software, and Birst, Inc.

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