Big Data In Supply Chain Market - Forecast (2024 - 2030)

Big Data In Supply Chain Market Overview

The Market for Big Data In Supply Chain is forecast to reach $3.9billion by 2026, growing at a CAGR of 26.1% from 2021 to 2026 due to rapid increase in consumer and machine data developments. The market will be driven by new channel programs such as E-commerce and social media programs. Big Data is defined as the capture, storage and analysis of large and complex data sets which are generally difficult to be processed or handled traditionally. Big data analytics has the potential to improve demand forecasting, communication and supply chain resources. Big data can be utilized by various analytic procedures in supply chain management for the descriptive, predictive and prescriptive purpose which will help the companies to make more efficient decisions for strategic and operational applications. The organizations have high expectations from big data analytics in their supply chain, the actual use is limited and many firm struggles to unveil its business value.

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Big Data In Supply Chain Market Report Coverage

The report: “Big Data In Supply Chain Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Big Data In Supply Chain Market.

By Type – Solutions, Services

By Data Type – Structured, Unstructured

By Deployment – Cloud, On-Premises, Hybrid

By Analytics– Integrated Business Planning, Optimization of Manufacturing Sources, Strategic Sourcing, Logistics Planning, Customer Interface and Others

By Organization Size – SMEs and Large Enterprises

By Applications – Order Management, Demand Planning, Tactical Supply Planning, Transportation Planning, Warehouse Management and Others??

By End-Use Industry – General Manufacturing, Automotive, Aerospace and Defense, Chemicals, Food and Beverage, Retail, Electronics and Semiconductor, Healthcare and Life Sciences and Others

By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa).

Key Takeaways

• Lot of established companies such as like IBM and DELL offer expanded big data solutions. This factor drives the demand for Big Data Supply Chain.?
• Industry segments such as Energy, retail, manufacturing, and telecommunications are the top growing segments. These segments propels the growth of supply chain data analytics.?
• Emergence of big data analytics drives the demand for Big Data Market with focus On Supply Chain Management.? ? ??

Big Data In Supply Chain Market Segment Analysis - By Applications

The capture, storage, and analysis of big data is implemented on a limited scale by supply chain companies for different purposes. Most of the supply chain companies use more than two systems for management purposes. Few companies have instances of Enterprise Resource Planning (ERP) software installed for various parts of the supply chain. The systems are used for demand planning, order management, price management, production planning, and manufacture execution systems and this is the main reason for usage of Big data in companies. The modern technological platforms such as SaaS products and middleware will allow companies to use real time data. The point of sale devices will scan the product barcode into the files for uploading. This will enable the companies to respond to the events in real time.? Small businesses with these systems can integrate the ordering to manage inventory and save money.

Big Data In Supply Chain Market Segment Analysis - By End Use Industry

The end-use industry segment is dominated by the manufacturing sector which will grow at a CAGR of 30.0% through the forecast period. The manufacturing segment collects massive amounts of data from its supply chain channels and also from the instrumentation or sensor networks on the production floor. Tighter integration and analysis of these databases using big data can be helpful to improve efficiencies of inventory management, sales and distribution process and continuous monitoring of devices. For the manufacturing segment to grow, companies need to realize the cost benefits accrued due to usage of big data. Predictive maintenance of equipment is an immediate segment in this sector ripe for growth.

Big Data In Supply Chain Market Segment Analysis - By Geography?

North America will dominate the Big Data Market at a share of 38.2% in 2020 with focus On Supply Chain Management in coming years. Latin America will record the highest growth during the forecast period, North America’s growth is due to greater concentration of big data solution providers and the use of analytics in SCM (Supply Chain Management).? Scale of operation in other areas such as Asia Pacific, Africa, Middle East, provide many opportunities to big data analytics for supply chain management.

Big Data In Supply Chain Market Drivers

Rising Data Analytics shift to Big Data

Data analytics and information flow has dominated supply chain management practices for several decades in which traditional analytic methods has been applied to support decision making. As the evolution of technology took place they have increasingly enabled supply chain to capture, manage and analyze the data. The advancement of technology and rapid increase in the consumer demand for immediate deliveries, the importance of big data in supply chain management will tend to grow in coming years. The high amount of data collected from different platforms globally has made big data a key application for adoption across the industries. The data generated by supply chain are accelerating rapidly, providing industries with substantial data analytics to make smarted decisions. Big data platforms are allowing professionals to focus on mammoth items rather than monotonous tasks.?