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The Global “Supply Chain Big Data Analytics Market” has recently been analyzed in a market research report, which segments it based on Regions, Country, Company, and other Segments. Key Players such as [IBM Corporation – Oracle Corporation – Internap Corporation – Packet Inc. (An Equinix Inc. Company) – Scaleway Inc. – Amazon Web Services Inc. – Rackspace Inc. – CenturyLink, Inc. – LightEdge Solutions, Inc.] are currently dominating the global market and have implemented various strategies to increase their market share and strengthen their position in the industry. This report can serve as a valuable resource for stakeholders and other participants in the global Supply Chain Big Data Analytics market to gain a competitive advantage for their business needs.
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Customer-centric
1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Supply Chain Big Data Analytics market?
Certainly. The report has taken into account the impact of both COVID-19 and the Russia-Ukraine war on the Supply Chain Big Data Analytics market. These events have had a significant effect on global supply chains and the pricing of raw materials, and we have addressed their influence in detail throughout the report, particularly in dedicated chapters on the Supply Chain Big Data Analytics industry.
Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this Supply Chain Big Data Analytics Industry.
2.How do you determine the list of the key players included in the report?
To provide a comprehensive analysis of the competitive landscape within an industry, we consider not only prominent global enterprises but also regional small and medium-sized companies that play significant roles and have the potential for growth. Our approach aims to present a complete picture of the key players in the industry.
The Supply Chain Big Data Analytics Market was valued at USD 3.55 billion in 2020 and is anticipated to reach USD 9.28 billion by 2026, growing at a CAGR of 17.3%.
Companies can now access, store, and process a huge amount of data thanks to advances in information technology. It is evident that Big Data has a significant role to play in any industry as organizations are analyzing data sets and identifying key insights to apply to their operations. Companies are incorporating analytics into everything from food and beverage distribution to high technology.
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Key Features
The boundless utilization of computerized innovations has prompted the development of Large Information Investigation (BDA) as a basic business capacity to furnish organizations with better chances to get esteem from an undeniably immense measure of information and gain a telling upper hand.
Due to its complexity and the significant role that LSCM plays in improving overall business performance,
BDA in logistics and supply chain management (LSCM) has attracted a growing amount of attention. In a 2014 Accenture survey, three out of ten respondents had already taken the initiative to implement analytics, and more than one third of those polled said they were having serious conversations about doing so.
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Delays in shipments, rising fuel costs, inconsistent suppliers, and ever-increasing customer expectations are just a few of the most significant obstacles LSCM must overcome in order to avoid supply chain inefficiencies and waste.
Businesses of all sizes, from financial services to automobile manufacturing to healthcare to non-profits, are beginning to realize the power of data. Utilizing Big Data analytics to generate deeper insights in a supply chain is becoming increasingly important. In many omnichannel operations, the retail industry streams a lot of data across its supply chains and at various customer touch points.
As per a study by Softweb Arrangements, retailers who utilize prescient examination have accomplished a 73% expansion in deals, when contrasted with the people who didn’t utilize it. As a result, retailers are personalizing their in-store and online products using Big Data solutions and customer analytics to increase profitability and outperform rivals. While implementing real-time analytics, supply chain management encounters few obstacles.
The retail industry currently holds a significant share of the supply chain big data analytics market. Due to the growing number of data sources generated by the adoption of IoT solutions, beacons, and RFID technologies throughout the supply chain, the retail industry is anticipated to present vast opportunities for growth.
In addition, retailers use IoT devices and solutions to analyze customer data, monitor stock levels, and build stronger relationships with customers. In addition to facilitating improved product tracking throughout the supply chain, each of these technological innovations contributes to a clearer comprehension of customer behavior.
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Retailers, for instance, have installed a network of RFID readers in the roof space of their sales floors. This enables them to read all of the stock that is displayed and provides a more precise visibility into the inventory. American Apparel is using RFID tags and data analytics tools to improve inventory management, and Walmart is using Big Data analytics to improve supply chain management and in-store operations.
However, a lot of this useful information is ignored, resulting in conversion rates of only 2% to 3% overall. As a result, the retail market for supply chain big data analytics is expanding to take advantage of the data’s ability to comprehend, analyze, and generate useful insights.
Which are the driving factors of the Supply Chain Big Data Analytics market?
It is anticipated that the United States will hold a significant share. The manufacturing sector in the United States is working hard to boost productivity and strengthen its manufacturing sector by focusing on improving activities throughout the supply chain. The rise of the e-commerce industry in the United States has increased the need for effective supply chain management.
The e-commerce sector in the United States grew by more than 40% in 2017, according to the US Commerce Department. Big Data is expected to grow significantly as a result, which will benefit supply chain analytics in the nation.
In the North American retail market, e-retailers are making a concerted effort to improve the customer experience by implementing same-day delivery, which can be effectively accomplished through efficient supply chain management. Notably, the Harbert College of Business at Auburn University says that retailers in the United States were expected to increase their investments in supply chain management, particularly in technology upgrades, at the beginning of 2018. This was due to the expansion and rapid growth of the e-commerce industry.
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In addition, startups are attempting to enter the retail industry in the region and are raising funds to improve their operational efficiency through Big Data analytics and other new technologies. For instance, the A.S. Watson group (ASW) announced a partnership with the Toronto-based startup Rubikloud in order to primarily make investments in the growth of capabilities for Big Data.
The former business made an investment of approximately USD 70 million to incorporate visualization and machine learning capabilities to improve customer service and operational effectiveness. Consequently, it is anticipated to drive the country’s supply chain big data analytics market expansion.
Landscape of Competitors There are a number of major players in the supply chain big data analytics market, which is highly competitive. Few of the major players currently hold the majority of the market’s share. These major players with significant market shares are concentrating on expanding their international customer base. In order to increase both their profitability and their share of the market, these businesses are making use of strategic collaborative initiatives.
In order to improve their products’ capabilities, the market players are also acquiring new supply chain big data analytics startups. Deloitte and SAS reached an agreement in July 2018 to address the intricate risk and regulatory calculations on a large scale and transform compliance into an opportunity.”
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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Key Questions Answered in The Report:
- What are the strengths and weaknesses of the key vendors?
- Who are the Leading key gamers and what are their Key Business plans in the close to future?
- What will be the market increase price and measurement in the coming year?
- What are the principal key elements riding the market?
- What are the key market tendencies impacting the increase of the world Market?
- Which are Trending elements influencing the market shares of the pinnacle areas throughout the globe?
- What is the have an effect on of The Russia-Ukraine Crisis on the modern industry?
- Who are the key gamers and what are their strategies in the international Market?
- What are the market opportunities and threats confronted by using the carriers in the world Market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- What are the key consequences of the 5 forces evaluation of the world industry?
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