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Big Data In Supply Chain Market 2028 – Status and Development, Average Product Price and Market Shares of Key Players

IndustryARC

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Big data analytics has the potential to improve demand forecasting, communication and supply chain resources.

HYDERABAD, TELANGANA, INDIA, December 6, 2022 /EINPresswire.com/ -- 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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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.

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Segment Analysis:

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.

Competitive landscape:

The top 5 players in the Big Data In Supply Chain Industry are:

1. Accenture
2. AWS
3. IBM
4. Oracle
5. SAP

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