Supply Chain Solutions Industry | Forecast 2030
Supply Chain Solutions Industry Data Book Covers Supply Chain Analytics, Procurement as a Service And Vendor Risk Management Markets.
The global supply chain solutions industry size was estimated at USD 20.42 billion in 2022. The market is expected to expand at a CAGR of 15.0% CAGR (2023-2030).
Grand View Research’s supply chain solutions industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
The supply chain solutions market is expected to grow owing to a rise in the volume of business data across industries and companies seeking logistics and supply chain technology-driven products. For instance, in November 2022, Corbus partnered with GIS International, a procurement service provider to provide their clients with supply chain management that is more effective and efficient. The firms' complementary supply chain and procurement services will be based on GIS' integrated supply chain and supplier relationships capabilities in Europe and Corbus' procurement and sourcing expertise in the U.S. and India.
supply chain analytics market Insights
The global supply chain analytics market was valued at USD 6.12 billion in 2022 and is anticipated to expand at a CAGR of 17.8% from 2023 to 2030.
The sales & operations analytics segment captured a market share exceeding 25% in 2022. The need to optimize resource utilization and cost are vital considerations contributing to the overall segment growth in 2022. The client benefits from a flexible and customized supply chain analytics solution that adapts to dynamic requirements while cost-efficiency. This is expected to aid the growth of the sales & operations segment over the forecast period.
Based on service segment type professional service type has registered the highest market share of over 60% in 2022. To avoid data loss or theft, professional services must ensure that the new systems are compatible with the existing systems of numerous departments and integrate the new systems with the existing ones, increasing segment growth. Increased demand for professional services for the analysis and preservation of important data and professional assistance on emerging technologies.
Based on deployment type the cloud segment illustrated the highest market share of more than 60% in 2022. Technological proliferation has led to the large-scale adoption of IoT devices and has subsequently increased OEM customers’ dependence on cloud-based platforms. Cloud deployment increases flexibility and allows the large-scale customization of products and services for organizations.
The large enterprise segment held the highest market share of over 55% in 2022. The increased demand for strong monitoring solutions and automation capabilities for resource allocation and strategic decision-making boosted segment growth in 2022.
The manufacturing segment held the highest market share of over 20% in 2022. Supply chain analytics solutions can help in improving performance as they provide access to real-time data across the value chain and reflect the updates made to any region or any process throughout the organization in real-time.
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Procurement As A Service Market Insights
The global procurement as a service market size was valued at USD 6.15 billion in 2022 and is expected to register a growth of 11.1% from 2023 to 2030.
The strategic sourcing segment accounts for the largest market share of over 30% in 2022. The advancement of technology has made strategic sourcing and supply management more effective, enabling businesses to reduce costs and boost profitability. The market will be driven in the upcoming years by the growing demand to develop procurement functions within firms with the help of technologies.
The large enterprises segment captured a major market share of over 70% in 2022. Large companies will continue to engage in these services to manage complex contractual agreements and bag agreements, thereby taking a substantial piece of the total revenue share. These services are preferred by big businesses because they reduce operating expenses while removing business complexity.
The manufacturing industry accounts for the largest market share of over 24% in 2022. Managing supply chains with shorter lead times will contribute largely to the segment growth. Manufacturing will continue to be the highest demand driver for procurement as a service market till 2030. The services in the manufacturing sector will focus on improving supply chain dynamics in relation to direct inputs and raw materials.
Vendor Risk Management Market Insights
The global vendor risk management market size was valued at USD 7.27 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.
The financial control segment accounted for the largest revenue share of over 20.0% in 2021. The large share of this segment is attributed to enterprises' growing interest in managing financial risks associated with vendor management. Due to the COVID-19 crisis, financial control became the utmost important issue concerning vendor management for several companies in the world.
The cloud-based deployment segment accounted for the largest revenue share of over 85.0% in 2021. The large share of this segment is mainly attributed to the growing advantages it offers to the enterprises in terms of scalability, self-solution, low maintenance, and elasticity at affordable prices.
The large enterprises segment accounted for the largest revenue share of over 50.0% in 2021. The large share of this segment is primarily attributed to the improved collaboration, flexibility, lower operating expenses, and a faster time to market. Furthermore, the growing need among large organizations to manage dispersed supply chains and vendors across the world is fueling the segment growth.
The manufacturing segment accounted for the largest revenue share of over 20.0% in 2021. The large share of this segment is primarily attributed to the growing demand for vendor risk management solutions to efficiently manage the increased risks associated with vendors in terms of finance, compliance, and quality. In addition, increasing digital transformation in the industry enables organizations to adopt advanced solutions, including vendor risk management, to streamline business operations and reduce risks.
Supply Chain Solutions Market – Global Industry Segmentation
Supply Chain Solutions Industry, By Type
- Supply Chain Analytics
- Procurement as a Service
- Vendor Risk Management
Supply Chain Solutions Industry, By Deployment
- Cloud
- On-premises
Supply Chain Solutions Industry, By Enterprise size
- Large Enterprise
- Small & Medium Enterprise
Supply Chain Solutions Industry, By End- Use
- Retail & E-commerce
- Healthcare
- Automotive
- Transportation & Logistics
- Food & Beverages
- Manufacturing
- Others
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Supply Chain Solutions Industry Data Book Regional Outlook
- North America
- S.
- Canada
- Europe
- K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
Supply Chain Solutions Industry Data Book Competitive Landscape
The companies are adopting several growth strategies, such as partnerships, mergers & acquisitions, and product launches, to stay afloat in the competitive industry.
Key players operating in the supply chain solutions industry are –
- Genpact
- Accenture
- International Business Machines Corporation
- HCL Technologies Ltd.
- WNS (Holdings) Ltd.
- Optive Security, Inc.
- Infor
- Kinaxis
- JDA Software Group, Inc.
- Aera Technology
Go through the table of content of Supply Chain Solutions Industry Data Book to get a better understanding of the Coverage & Scope of the study
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
