Supply Chain Visibility Solutions Market Report Overview
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The global supply chain visibility solutions market size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.
Supply chain visibility solutions refer to the use of technology to provide real-time information and insights into the movement of goods and services across the supply chain. These solutions enable businesses to monitor their supply chain activities and gain better control over their operations. They also provide enhanced transparency and collaboration between suppliers, manufacturers, distributors, and retailers. With supply chain visibility solutions, businesses can track inventory levels, delivery times, and product quality, which enables them to make more informed decisions and respond quickly to any issues that may arise.
One of the key benefits of supply chain visibility solutions is that they help businesses reduce costs by improving efficiency and productivity. By providing real-time data on inventory levels, businesses can optimize their supply chain operations, reduce the risk of stock outs, and eliminate waste.
COVID-19 Impact: Pandemic Increased the Market Demand
The Covid-19 pandemic has had a significant impact on the global economy and the supply chain industry, including the supply chain visibility solutions market growth. One of the most significant impacts of Covid-19 on the supply chain visibility solutions market is the increased demand for end-to-end supply chain visibility solutions. The pandemic has highlighted the importance of having complete visibility into supply chain operations, from raw material sourcing to the final delivery of products. This has led to a growing demand for comprehensive supply chain visibility solutions that provide real-time tracking and monitoring of all aspects of the supply chain. Moreover, the pandemic has led to a surge in e-commerce sales as more consumers have shifted to online shopping due to the lockdowns and social distancing measures. This has resulted in increased demand for supply chain visibility solutions that can provide real-time tracking and monitoring of e-commerce orders and deliveries.
Latest Trends
"Adoption of Block Chain Technology is expected to fuel the growth in the market"
Block chain is a decentralized digital ledger that records transactions in a secure and transparent manner. Each block of data is added to the chain and is cryptographically linked to the previous block, making it virtually impossible to alter or delete any of the information stored in the block chain. In the supply chain industry, block chain technology can be used to track the movement of goods from the point of origin to the final delivery. By using block chain, businesses can ensure that the data they are receiving about their supply chain operations is accurate and tamper-proof. Block chain can also provide transparency into the movement of goods, making it easier to identify any delays, disruptions, or other issues that may arise. Another benefit of block chain technology in the supply chain industry is that it can help prevent counterfeiting and ensure product authenticity. By using block chain, businesses can create a digital record of the product’s origin, manufacturing, and distribution history. This can help ensure that the product is genuine and has not been tampered with or counterfeited.
Supply Chain Visibility Solutions Market Segmentation
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- By Type Analysis
According to type, the market can be segmented on premise and cloud-based.
On premise is expected to be the top part of type segmentation.
- By Application Analysis
Based on application, the market can be divided into small and medium-sized enterprises (SMES) and large enterprises.
Small and medium-sized enterprises (SMES) are expected to be the top part of application segmentation.
Driving Factors
"Increasing demand for real-time visibility to foster the market growth"
The growing complexity of global supply chains has made it increasingly difficult for businesses to track the movement of goods and ensure timely delivery. This has led to a growing demand for real-time visibility solutions that provide accurate and timely information about the movement of goods across the supply chain. Real-time visibility solutions enable businesses to monitor shipments, identify potential disruptions, and take proactive measures to mitigate risks. One of the key drivers of this trend is the growth of just-in-time (JIT) manufacturing, where businesses rely on timely and accurate delivery of goods to maintain their production schedules. In such scenarios, real-time visibility solutions can be invaluable in ensuring that the right products are delivered to the right place at the right time.
"Growing adoption of E-commerce to result in the expansion of the market"
The rapid growth of e-commerce has led to increased demand for supply chain visibility solutions that can track and monitor e-commerce orders and deliveries. With more consumers shopping online, businesses are looking for solutions that can provide real-time tracking and monitoring of e-commerce orders, ensuring timely deliveries and reducing the risk of lost or delayed shipments.
E-commerce supply chains are typically more complex than traditional supply chains, involving multiple fulfilment centres, carriers, and last-mile delivery partners. This makes it challenging for businesses to track and monitor e-commerce orders effectively, particularly in real-time. Supply chain visibility solutions that can provide end-to-end tracking of e-commerce orders can help businesses overcome these challenges and ensure timely and accurate deliveries.
Restraining Factors
"Data privacy and security concerns to hamper the market growth"
Data privacy and security concerns are becoming increasingly important for businesses across all industries, and the supply chain visibility market is no exception. With the growing amount of data being collected and shared across supply chain networks, there is a risk of sensitive information being exposed or stolen by cyber threats. This could include data on shipments, inventory levels, customer information, and more. As a result, businesses need to ensure that their supply chain visibility solutions comply with data privacy regulations and implement robust security measures to protect their data. Failure to do so can not only lead to financial losses but can also damage a business's reputation and erode customer trust.
Supply Chain Visibility Solutions Market Regional Insights
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"Asia-Pacific to lead the market owing to the increasing adoption of e-commerce. "
Asia-Pacific (APAC) region is expected to show the highest expansion in the supply chain visibility solutions market share. This growth can be attributed to several factors, including the increasing adoption of e-commerce and the growth of manufacturing and retail industries in countries such as China and India. Additionally, the increasing focus on supply chain optimization and the need for real-time visibility to manage complex supply chain networks are expected to drive demand for these solutions in the region.
Key Industry Players
"Key players are employing advanced technologies in order to stimulate further growth of the market."
All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.
List of Market Players Profiled
- SAP: Walldorf, Germany
- Oracle: Redwood City, California, USA
- IBM: Armonk, New York, USA
- Infor Nexus: New York, USA
- Sage: Newcastle upon Tyne, UK
- Zetes: Brussels, Belgium
- Descartes: Waterloo, Ontario, Canada
- MP Objects: Amsterdam, Netherlands
- FourKites: Chicago, Illinois, USA
- BluJay: Cary, North Carolina, USA
- project44: Chicago, Illinois, USA
- Specright: Irvine, California, USA
- Software AG: Darmstadt, Germany
- CoEnterprise: New York, USA
Report Coverage
This report examines an understanding of the supply chain visibility solutions market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
Frequently Asked Questions
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What is the leading region in the supply chain visibility solutions market?
Asia-Pacific region has shown the largest growth in the supply chain visibility solutions market.
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Which are the driving factors of the supply chain visibility solutions market?
Increasing demand for real-time visibility and growing adoption of E-commerce.
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Which are the top companies operating in the supply chain visibility solutions market?
SAP, Oracle, IBM, Infor Nexus, Sage, Zetes, Descartes, MP Objects, FourKites, BluJay, project44, Specright, Software AG, CoEnterprise