Market Synopsis
The availability of various supply chain analytics software with multiple features can boost the supply chain analytics market 2020. Market Research future (MRFR), in its latest “Global Supply Chain Analytics Market” states different factors that can impact the growth of the market. The world supply chain analytics market can surge at 13.7% CAGR across the forecast period (2017 to 2023). By 2023, the supply chain analytics market can value at USD 8,890.4 Mn. The increase in the generation of data by enterprises can increase consumer awareness and thus, benefit the supply chain analytics market. Several industrialists and experts’ state that the integration of artificial intelligence in supply chain analytics solutions could result in an effective growth strategy that can predict all possible outcomes, thus offer a robust action plan to hand inventory. The integration can add a competitive advantage to numerous supply chain analytics dealers. However, increase in cases of data breach in both privacy and public cloud deployments and its monetary constraints can restraint the market growth.
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Regional Analysis
The supply chain analytics market in North America is expected to secure the largest share of the global market. The high presence of reputed players, such as IBM Corporation, Oracle Corporation, and SAS Institute can explain the rise of the supply chain analytics market in the region. In North America, the US accounted for the highest share of the regional market. It is due to the presence of advanced supply chain analytics solutions. Europe can secure the second-largest share of the world market. The high adoption mobile-based services can bolster the supply chain analytics market in EU. In Asia Pacific, the supply chain analytics market is likely to register high CAGR of about 16.4% in the review period. The adoption of latest technologies that enable easy access to distributed transport network can prompt APAC market growth. In the Middle East and Africa, the supply chain analytics market can achieve a considerable market growth due to the rise in crucial players focusing on investing in supply chain analytics solutions diversification.
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