Supply Chain Analytics Market Worth $7.1 Billion by 2023 - Exclusive Report by MarketsandMarkets

CHICAGO, January 21, 2019 /PRNewswire/ --

According to a new market research report "Supply Chain Analytics Market by Software (Supplier Performance Analytics, Demand Analysis and Forecasting, and Inventory Analytics), Services, Deployment Model, Organization Size, Industry Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets, the Supply Chain Analytics Market size is expected to grow from USD 3.6 billion in 2018 to USD 7.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.6% during the forecast period.

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The key factors driving the supply chain market include increasing volume and velocity of data, need to enhance operational and supply chain efficiencies, and advent of AI and machine learning into supply chain management.

Browse and in-depth TOC on "Supply Chain Analytics Market"  

71   - Tables 

45   - Figures  

163 - Pages  

Inventory analytics segment constituted the largest market share in 2018 

Today, the organizations are more concerned about inventory levels, which is inclining them toward inventory analytics solutions to determine the minimum inventory targets across the entire supply chain network. The inventory analytics software enables organizations to monitor inventory levels to enhance sales performance, improve cost exposure, maintain optimum inventory, and increase turnover through inventory level reduction.

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Services segment to grow at a higher CAGR during the forecast period 

Based on component, the Supply Chain Analytics Market is segmented into software and services. The services segment is expected to grow at a higher CAGR during the forecast period. Professional services and managed services help enterprises in building successful client relationships by continuously supporting them through the business tenure. Furthermore, these services benefit enterprises by maximizing resource usage, improving project execution, and streamlining business operations. The need for services, such as support and maintenance, would also grow, as the adoption of supply chain analytics software increases.