Supply Chain Analytics Market Expected to Grow till $4.8 Billion by 2019: Report
DALLAS, TX: The supply chain analytics market by solution is expected to grow from $2.5Bn in 2014 to $4.8Bn in 2019 at a compound annual growth rate (CAGR) of 14.6% during the forecast period, says the latest report from MarketsandMarkets.
Due to overflow of enormous amount of data from multiple organizations, the enterprise drives the demand of supply chain analytics solution with increase in requirements of efficient collection, distillation and data analysis. These requirements prompt industrialists to plan their business strategy to gain higher Return on Investment (ROI). The industries now incline more toward forecasting and sale and operations planning that require data analytics to perform with accurate and accessible results with complex algorithms, as reported by Paul Myerson from IndustryWeek.com.
The report is segmented on multiple solutions and services related to supply chain such as supply chain planning and procurement, manufacturing analytics, transportation and logistics analytics and visualization and reporting tool. The market for analytics in the Supply Chain verticals also classified based on several industries including retail, Healthcare, Manufacturing, Automotive, Aerospace and electronics. The research is reported by considering assumptions of market sizing and forecasting exercise of the supply chain analytics market, such as: moderate affect on the market with exchange rate and negligence of market size of hardware tools.
MarketsandMarkets’ reports indicate that the industry should be concerned about security of cloud-based data analytics application and adoption of supply chain analytics solution by eliminating the retardation in deployment for better market growth.