The global supply chain analytics market is slated to witness substantial growth over the coming years, mainly driven by the massive volume of data generated across retail, manufacturing, transportation, healthcare, and numerous other industry verticals. In terms of the applications, the industry is segmented into transportation & logistics, retail, manufacturing, automotive, government, healthcare, and energy & utilities, among others.
On the basis of component, the market is bifurcated into solutions and services. The different types supply chain analytics solutions include demand planning, inventory analytics, procurement analytics, manufacturing analytics, and logistics analytics. It is estimated that the adoption of demand planning solutions will grow at a robust 16% CAGR through 2027, with the increasing need for efficient management of demand uncertainty.
The demand for manufacturing analytics solutions over 2020-2027 is likely to grow at a healthy CAGR of 19%. This demand can be attributed to the need for enhanced quality and optimized performance of production. Meanwhile, the logistics analytics solutions segment will grow at a 15% CAGR over the same period, driven by the need for enhanced customer service and effective resource utilization.
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The services segment of supply chain analytics industry includes managed and professional services. The demand for professional services is expected to increase at a CAGR of approximately 17% across the timeframe.
The adoption of supply chain analytics solutions across the manufacturing sector will grow at a steady 16% CAGR over 2020-2027, with the growing demand for enhanced operational efficiency and machine utilization. Through the same forecast period, the government & defense application segment is anticipated to expand at a notable 17% CAGR. The growth can be contributed to the widespread adoption of mission critical operations and workflows in the sector.
The supply chain analytics industry share from automotive applications is likely to rise at a CAGR of around 18% up to 2027, primarily driven by the increasing need for enhancing the global distribution network. The increasing automotive production across the globe will provide supply chain analytics solutions providers with favorable opportunities.
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Meanwhile, the demand for supply chain analytics services across energy & utilities sector is projected to grow at CAGR of nearly 17% over the next few years. These solutions and services are used to support operational workforces across geographically dispersed locations.
From a regional standpoint, the supply chain analytics market in Latin America is estimated to grow at a healthy 18% CAGR over 2020-2027. The regional trends can be associated with increasing investments in the supply chain sector.
Meanwhile, the Middle East & Africa supply chain analytics industry share is projected to expand at a CAGR of about 19% up to 2027. Favorable government initiatives and investments for large-scale infrastructure development projects will continue to support the regional market expansion.