Digital Supply Chain Market Expected to Reach $13.6 Billion by 2030

According to a recent report published by Allied Market Research, titled, “Digital supply chain Market By Component, Enterprise Size, Industry Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030,” The global digital supply chain market size was valued at $3,918.00 million in 2020, and is projected to reach $13,679.00 million by 2030, registering a CAGR of 13.2%.

The global digital supply chain market is impacted by factors such as rise in demand for reliable, fast, and effective order execution; surge in need for cloud-based supply chain management solutions; and increased use of industrial-grade digital technology. However, security concerns associated with digital supply chain may hamper growth of the market to some extent during the forecast period. On the contrary, proliferation of supply chain 4.0 and ongoing trend of digital transformation is opportunistic for growth of the market.

In 2020, on the basis of enterprise size, the large enterprises segment dominated the digital supply chain market, and is expected to maintain its dominance in the upcoming years. Massive volume of data is gathered in large-scale enterprises due to heavy engagement of customer, and it is important for large-scale enterprises to keep this data handy and secure to analyze customer demand. Digitization of supply chain enables large enterprises to monitor information of actual requirement and supply chain activities and make smart and informed decisions rapidly. However, the small- & medium-sized enterprises (SMEs) segment is expected to witness highest growth rate during the forecast period. Shift in focus of SMEs toward the customer satisfaction and rise in adoption of digital supply chain management solutions to obtain insights by analyzing real-time data across SMEs are driving the growth of market.

On the basis of industry vertical, the global digital supply chain market is dominated by retail & consumer goods segment. In the retail sector, the market is driven by increase in complexity of retail supply chain networks over a period of time due to the presence of large number of suppliers & logistics providers, channels, products, and value-added offerings. However, the manufacturing segment is expected to witness highest growth rate during the forecast period. The major shift toward digitization and rise in adoption of planning software, artificial intelligence, and machine learning primarily drives growth of the digital supply chain market in the manufacturing sector.

Post COVID-19, the global digital supply chain market was valued at $3,918.00 million in 2020, and is projected to reach $13,679.00 million by 2030, registering a CAGR of 13.2%.. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has low impact on the growth of the market, as digitization across different industries has increased during unprecedented circumstances. There is huge demand for online shopping in several areas, which requires food & beverage, manufacturing, and logistics companies to increase their investments in automation, including the automation and digitization of supply chains. Thus, fueling the growth of the market.

Key Findings Of The Study

• By component, in 2020 the solution dominated the digital supply chain market size. However, the services segment is expected to exhibit significant growth during Digital supply chain market forecast period.
• Depending on enterprise size, the large enterprises generated the highest revenue in 2020 of Digital supply chain market share.
• According to the industry vertical, the retail & consumer goods generated the highest revenue in 2020. However, the manufacturing segment is expected to exhibit significant growth during the forecast period
• Region wise, the digital supply chain industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

Some of the key Digital supply chain industry players profiled in the report include Cloudera, Inc., IBM Corporation, Infor, MicroStrategy Incorporated, Oracle Corporation, SAP SE, SAS Institute Inc., Software AG, Tableau Software, and TIBCO Software Inc. This study includes digital supply chain market share, trends, digital supply chain market analysis, and future estimations to determine the imminent investment pockets