World News: 08:00 GMT Friday 10th August 2018. [Infoholic Research LLP via Globe Newswire via SPi World News]
Bangalore, Aug. 10, 2018 (GLOBE NEWSWIRE) -- The recently published Infoholic Research study , Infoholic Research forecasts that the US held the largest market share of the supply chain analytics market in 2017 and is expected to dominate the supply chain analytics market during the forecast period. The factors driving the growth of the market in this region includes the advancements in technologies such as IoT, AI, and Bigdata with the increasing adoption of these technologies, increasing spending on supply chain analytics along with increasing fleet management and geolocation trends. The market is also expected to surge because of increasing awareness of supply chain analytics and its benefits for business growth.
Supply chain analytics is implemented across industries to reduce operational cost, enhance business growth, and increase customer satisfaction. Need for better supply chain visibility, reduced warehousing costs, changing customer demands and forecast are expected to bolster the demand for supply chain analytics solutions. Several organizations are implementing solutions to achieve high productivity and enhanced supply chain visibility.
Supply chain analytics helps large enterprises in measuring their operational efficiency across customized key performance indicators (KPIs) and identify customer/partner demand patterns. Small and medium enterprises are increasingly adopting this solution to improve their supply and demand management system as it helps them improve bottom line costs with more emphasis placed on improved forecasting and enabling them to be more responsive to customer needs.
Supply chain analytics will continue to play a vital role in manufacturing industry to better understand the entire supply chain between manufacturer, supplier, wholesaler, retailer and customer. Data collected from suppliers, distributors, customers and the enterprise for different sites of a manufacturing company must be aligned with all the detailed information to provide manufacturers with a complete and real-time analysis to reduce operating costs as well as transportation and logistics costs.
America is the leading region for the Supply Chain Analytics market, followed by Europe and APAC. The market in the APAC region is expected to witness high growth, given the increase in number of startups and SMEs and their readiness to adopt the supply chain analytics solutions. While the adoption of analytics is to promote the growth of their business, smaller organizations also perceive the underlying benefits of supply chain analytics including increased profitability, business expansion, high customer satisfaction, reduced logistics, transportation and warehousing costs. Among the countries covered in the report, the US, India and China are expected to grow at a rapid rate during the forecast period due to the increasing need for real time decisions and demand planning & forecasting.
The report aims to highlight key insights from service providers, verticals, and stakeholders. The report covers the current scenario and the development prospects of the Supply Chain Analytics market during the forecast period 2018–2024. It also provides an in-depth analysis and forecast of the industry covering the following key features:
Ms. Sunanda Ganguli
Infoholic Research LLP
Mobile: +91 829 668 4636
Globe Newswire: 08:00 GMT Friday 10th August 2018
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