Industries Study Report: Supply Chain Solutions Industry

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A Guide to the Supply Chain Solutions Industry Vendor Landscape

Supply Chain Solutions Industry Data Book - Supply Chain Analytics, Procurement as a Service and Vendor Risk Management Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Supply Chain Solutions Industry was valued at USD 20.45 billion in 2022 and is anticipated to increase at a significant CAGR of 15.0% from 2023 to 2030.

Grand View Research’s supply chain solutions industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Supply Chain Analytics Market Insights

The global supply chain analytics market size was estimated at USD 6.13 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2030. The supply chain analytics (SCA) market is growing in demand due to increased awareness of the benefits of SCA solutions, such as forecasting accuracy, supply chain optimization, waste minimization, and meaningful synthesis of business data. The increasing number of small & medium enterprises and their increasing expenditure on implementing analytics to hold a strong position in the market and compete against other market players are expected to boost the market growth over the forecast period.

SCA helps organizations get a broader view of supply chain activities, allowing them to efficiently manage any issues that may impact the profitability or sustainability of the business. Mobile-based solutions help companies track inefficient supplier networks, elevated warehousing costs, and incorrect forecasts, among others. Analytics solutions also play a pivotal role in analyzing business operations that may help improve inventory management and subsequently help reduce associated cost components that may hinder business growth. In recent times, a surge in the adoption of mobile-based solutions is expected to create avenues for industry growth.

Unethical activities and increasing incidences of cyber threats could raise concerns among businesses and may challenge the adoption of SCA solutions to a certain extent. Although the prospects of tech inclusion in supply chain operations look bright, industry incumbents are still concerned about possible security/data breaches. These concerns may be unfavorable for future growth. However, by selling secure products, SCA solution providers have been working tirelessly to reduce the effect of these breaches. These initiatives may help the market grow at a healthy rate in the coming years.

Order your copy of the Free Sample of “Supply Chain Solutions Industry Data Book - Supply Chain Analytics, Procurement as a Service And Vendor Risk Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Procurement as a Service Market Insights

The global procurement as a service market size was valued at USD 6.15 billion in 2022 and is expected to register a growth of 11.1% from 2023 to 2030. As firms increasingly rely on digitization to carry out their sourcing and procurement tasks while keeping track of company payments and purchases, procurement as a service is gaining popularity throughout the globe. Following the COVID-19 pandemic, the uptake of digitization in automating essential business operations like sourcing and procurement is receiving attention. This is anticipated to support the procurement growth as a service market throughout the projection period.

Sustainable procurement and supplier relationship management can become more proactive and effective with technology integration; this is expected to enable the economy of scale and boost corporate profitability. As a provider of procurement services, it is crucial to ensure that the newest technologies are used to help businesses anticipate greater accuracy regarding procurement and sourcing. Over the projected period, it is expected to maintain market demand for procurement as a service.

Service providers saw the shortcoming of the procurement service owing to the current epidemic, which has caused traditional procurement strategies to fail to scale and become unsustainable. The importance of global procurement services providing organizations has changed in light of this new status quo, moving away from negotiating service contracts and toward exclusive business alliances and strategic arrangements to guarantee both long- and short-term business. Similar to the supply side, business understanding of procurement procedures and services has grown significantly during the past few years. Custom service offers have evolved into a differentiator for service providers, promoting the expansion of procurement as a service industry.

Go through the table of content of Supply Chain Solutions Industry Data Book to get a better understanding of the Coverage & Scope of the study

Supply Chain Solutions Industry Data Book Competitive Landscape

The companies are adopting several growth strategies, such as partnerships, mergers & acquisitions, and product launches, to stay afloat in the competitive industry.

Key players operating in the Supply Chain Solutions Industry are:

Genpact
Accenture plc
International Business Machines Corporation
HCL Technologies Ltd.
WNS (Holdings) Ltd.

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Supply Chain Solutions Industry: In Terms of Service, The Professional Segment Dominated the Market in 2022

Supply Chain Solutions Industry Data Book - Supply Chain Analytics, Procurement as a Service, and Vendor Risk Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Access the Global Supply Chain Solutions Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Supply Chain Analytics Market Report Highlights

The global Supply Chain Analytics Market size was estimated at USD 6.13 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2030.

In terms of solution, the sales & operations analytics segment held the largest market share in 2022 exceeding 28%. This growth can be attributed to the growing emerging trend of use of machine learning in SCA solutions. It dissects and aggregates data and produces predictive, descriptive, and prescriptive insights. These insights enable supply chain managers to make better decisions
In terms of service, the professional segment dominated the market in 2022 with a revenue share of over 60% and is expected to retain its dominance over the forecast period. The segment's growth is predicted to be driven by the increasing automation of professional services due to the adoption of big data and analytics, as well as the growing desire for improved mobility among service consultants
In terms of deployment, the cloud segment is anticipated to register the fastest CAGR of 19.1% from 2023 to 2030. Cloud-based solutions enable businesses to access data from linked devices at any time, allowing for further customization and the use of analytical tools across numerous business channels
In terms of enterprise size, the large enterprise segment held the largest market share in 2022 at over 59%. This growth can be attributed to the need to manage large amounts of data that must be effectively managed in local offices and overseas
In terms of end-use, the high-technology products segment is anticipated to register the fastest CAGR of 20.6% from 2023 to 2030. This growth can be attributed to the increasing demand for high-technology products, which are complex to move and demand better visibility & tracking
In terms of region, the North America region dominated the global market in 2022 with a revenue share of over 37%. Due to the region's huge number of SCA service providers, the regional market is expected to maintain its dominance over the forecast period

Procurement as a Service Market Report Highlights

The global Procurement as a Service Market size was estimated at USD 6.15 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030.

The contract management segment is projected to grow considerably, with the fastest CAGR over the forecast period. The growth of this segment is majorly attributed to the increasing demand from businesses for service-level agreements and vendor management optimization to streamline the procurement process.
The small & mid-sized enterprises segment is expected to register the highest CAGR from 2023 to 2030. This growth can be attributed to a rising number of start-ups and small enterprises that are using procurement as a service approach to managing specific supply chain operations.
The IT & telecom segment is anticipated to register significant growth over the forecast period. The increasing use of technology to handle company operations and enterprises' growing reliance on outsourcing business operations are projected to drive segment growth.
The Asia Pacific region is anticipated to dominate the market growth over the forecast period. Growing instances of digital transformation and an increase in the number of small companies engaged in using enhanced procurement services are expected to drive regional growth.

Order your copy of Free Sample of “Supply Chain Solutions Industry Data Book - Supply Chain Analytics, Procurement as a Service And Vendor Risk Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Vendor Risk Management Market Report Highlights

The global Vendor Risk Management Market size was estimated at USD 8.18 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 15.1% from 2023 to 2030.

The financial control solution segment is expected to register the highest CAGR over the forecast period owing to the increasing interest of companies in eliminating financial risks associated with vendors to enhance profitability
The small and medium enterprise size segment is anticipated to emerge as the fastest-growing segment over the forecast period owing to the increased number of start-ups demanding advanced vendor risk management solutions and growing government support to SMEs in enhancing their businesses
The cloud deployment segment is anticipated to emerge as the fastest-growing segment over the forecast period owing to the growth of cloud and industrialized services and a decrease in traditional Data Center Outsourcing (DCO). Moreover, edge computing has emerged as one of the most important drivers likely to accelerate the demand for the adoption of hybrid cloud models across organizations worldwide
The healthcare end-use segment is expected to register the highest growth rate from 2022 to 2030 owing to the growing adoption of modernized tools for providing personalized healthcare services to patients
Asia Pacific is expected to emerge as the fastest-growing region over the forecast period owing to the increasing focus of SMEs and large enterprises to enhance their digital initiatives. The growth in the IT services industry in markets such as India, China, and other South Asian regions is also expected to propel the regional market growth over the forecast period