By Christine Kern, contributing writer
A report by Markets and Markets finds the supply chain analytics market will reach a net worth of approximately $4.8 billion by 2019.
The report, Supply Chain Analytics Market by Solution — Worldwide Forecast and Analysis to 2019, provides information regarding current growth trends and future growth potential across the supply chain analytics market, and anticipates the market to grow at a healthy CAGR of 14.6 percent by 2019. The emerging markets like Asia Pacific and the Middle East are expected to witness the strongest growth over the next few years.
The supply chain analytics market is broadly segmented in three ways. First, it’s divided by type of solution: supply chain planning and procurement, sales and operations planning (S&OP), manufacturing analytics, transportation and logistics analytics, and visualization and reporting tools. The market can also be described by type of service — professional and support and maintenance service — or by type of deployment model — on premises or on-demand (cloud-based). The market is also segmented by type of vertical (retail and consumer packaged goods (CPG), health care and life sciences, manufacturing, automotive, aerospace and defense, high tech and electronics) and by global region.
According to the report, the rapid rise in Big Data across various industrial verticals is driving the global market, increasing data generation, forecasting accuracy, and awareness regarding the benefits of the supply chain analytics solutions.
Yet, concerns over security of industry-specific data in cloud-based data analytics applications, and the lag in the deployment/adoption of supply chain analytics solutions are challenges that need to be addressed.
The forecast period for market research report is 2014-2019 with 2013 considered as the base year. Sixty-six market data and 52 figures are spread through the 149 pages of the report.