North America Supply Chain Analytics Market size surpassed USD 1 billion in 2019 and is expected to register a lucrative growth of over 12% from 2020 to 2026.
The industry growth is attributed to the rising demand for advanced analytics solutions and development of integrated supply chain solutions. The growing emphasis on applying cognitive technologies into supply chain processes is contributing to technology developments in the region. In addition, the widespread presence of supply chain analytics solution providers will also contribute to the regional market expansion. The advanced visualization capabilities of supply chain analytics solutions enable enterprises to visualize the workflows in accordance with the distance & depth. The enterprise-wide demand for increased sales and lowered costs will fuel the market revenue.
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The manufacturing analytics solution segment is projected to witness over 15% CAGR between 2020 and 2026. The need to collect and analyze large volume datasets from manufacturing processes using advanced technologies will enable the demand for manufacturing analytics software solutions. The rising transition to cloud technologies and the adoption of IoTs with Industry 4.0 are driving enterprises to adopt analytics solutions to manage & monitor the data generated.
The demand for supply chain analytics solutions from large enterprises is expected to increase significantly over the forecast timeline. Large enterprises invest significant resources to strengthen their supply chain infrastructure and to ensure efficiency throughout workflows. Supply chain analytics solutions ensure an uninterrupted supply of inventory throughout the supply chain to avoid production or distribution losses. Several enterprises are emphasizing on advanced supply chain analytics solutions to ensure resilient supply chain operations.
The on-premise deployment segment is anticipated to witness steady growth in the North America supply chain analytics industry till 2026. On-premise architecture is not intended to connect with cloud gateway services and it is utilized in companies that host their applications in-house rather than utilizing cloud applications. The on-premise supply chain architecture has better recovery & backup functionality in the case of unforeseeable circumstances. With the advent of cognitive technologies and cloud-based solutions, the demand for supply chain analytics solutions for on-premise deployment has decreased considerably.
In North America, the automotive application segment is set to observe around 14% growth rate through 2026. The industry has witnessed several technological transformations along with the emergence of automation and robotics into the processes. The entire automotive value chain is dispersed across geographies to procure components and address customer demands. The need to ensure efficiency across distribution channels and visibility into supplier networks will fuel the demand for supply chain analytics solutions.
The U.S. dominated 75% market share in 2019. The widespread presence of technology enterprises, such as IBM Corporation and Oracle Corporation, is contributing to the U.S. market expansion. Companies in the U.S. are focusing on the development of integrated solutions. For instance, in February 2021, Redwood Logistics entered a partnership with Blue Yonder Group Inc. for the development of integrated platforms. Under the partnership, Blue Yonder integrated its dynamic price delivery services with Redwood’s supply chain iPaaS platform.
The North American supply chain analytics market has witnessed several new product developments and portfolio innovations. For instance, in September 2020, Oracle Corporation launched the latest iteration of its Oracle Fusion Cloud Supply Chain & Manufacturing solution in the market. The company added logistics digital assistance, AI-powered planning advisor, product procurement, and revenue management capabilities. This launch helped the company to address the demand from enterprises to resolve complexities that arose due to the COVID-19 crisis.
Some of the leading companies operating in the market include Antuiti.ai, Axway Inc., Blue Yonder Group Inc., IBM Corporation, Manhattan Associates Inc., Oracle Corporation, Sage Clarity Systems, SAP SE, SAS Institute Inc., SAVI Technology, Tableau Software LLC, and TIBCO Software.