According to a new report by BCC Research the supply chain analytics market is expected to see a compound annual growth rate (CAGR) of 15.8 per cent through 2024, when it could be worth $13.5 billion
“Supply chain analytics solutions are used across a wide range of industries, including retail and consumer goods, industrial and automation, transportation and logistics, energy and utilities, healthcare, and others. Among these industries, the industrial and manufacturing sector is expected to hold the majority share of the market during the forecast period. The revolution of industry 4.0 is characterised by the creation of advanced factories that can implement and integrate various state-of-the-art technologies such as the industrial internet of things (IoT), data analytics, additive manufacturing, 3D printing and cyber-physical systems,” writes analyst Aneesh Kumar.
- The industrial and manufacturing segment of the global supply chain analytics market is expected to grow from (USD) $1.3 billion in 2019 to (USD) $2.8 billion in 2024 at a CAGR of 16.4 per cent
- The retail and consumer goods segment of the global supply chain analytics market is expected to grow from (USD) $1.2 billion in 2019 to (USD) $2.5 billion in 2024 at a CAGR of 16.2 per cent