The global digital supply chain market grows due to rising demand for fast order execution, cloud-based solutions, and advanced industrial digital tech.

WILMINGTON, DE, UNITED STATES, November 26, 2024 /EINPresswire.com/ -- A Digital Supply Chain (DSC) refers to the integration of digital technologies, data analytics, and advanced systems into traditional supply chain processes to enhance visibility, efficiency, and agility. Unlike traditional supply chains that rely heavily on manual processes and isolated systems, a digital supply chain leverages interconnected tools and real-time data to optimize operations across the entire supply chain network.

As per the report, the global digital supply chain market size was pegged at $ 3.91 billion in 2020, and is expected to reach $ 13.67 billion by 2030, growing at a CAGR of 13.2% from 2021 to 2030.

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Increase in demand for reliable, fast, and effective order execution, rise in demand for cloud-based supply chain management solutions, and the improved use of industrial-grade digital technology drive the growth of the global digital supply chain market. However, security concerns associated with the digital supply chain among the people hinder market growth. On the contrary, the ongoing digital transformation trend and proliferation of supply chain 4.0 are expected to open lucrative opportunities for the market players in the coming years.

Covid-19 scenario

1. The outbreak of the covid-19 pandemic has significantly stimulated the growth of the global digital supply chain market as there was increased inclination toward digitization.

2. The demand for online shopping has increased in several areas, including manufacturing, food & beverage, and logistics companies to increase their investments in automation of operations and supply chains, thus fueling the market growth.

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By region, the global digital supply chain industry across North America dominated in 2020, accounting for more than two-fifths of the market, due to increased investment in emerging technologies such as artificial intelligence (AI), robotics & automation, Internet of Things (IoT), 5G networking, augmented & virtual reality (AR/VR), digital twin, autonomous cars, and drones which in turn drives the growth of digital supply chain market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 16.1% during the forecast period, owing to strong economic growth and ongoing development in services sector, due to which the business enterprises are investing in the digital supply chain solution to sustain their growth and improve productivity.

Asia-Pacific is expected to observe highest growth rate during the forecast period. Strong economic growth along with the ongoing development in the services sector has driven business enterprises to invest heavily in digital supply chain solutions to sustain their growth and improve productivity. In addition, factors such as rise in cloud deployment among small & medium-sized businesses and the ongoing modernization of manufacturing & construction industries drive heavy investment in digital supply chain in emerging countries such as India, China, and Australia.

Based on 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 the complexity of retail supply chain networks over some 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 the highest growth rate during the forecast period. The major shift toward digitization and rise in the adoption of planning software, artificial intelligence, and machine learning primarily drive the growth of the digital supply chain market in the manufacturing sector.

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By organization size, the small and medium enterprise segment would showcase the highest CAGR of 14.1% from 2021 to 2030, due to a surge in the adoption of digital supply chain management solutions in SMEs, to obtain insights by analyzing real-time data. However, the large enterprise segment held the largest share in 2020, contributing to nearly three-fifths of the market, and is expected to maintain its dominance in the forecast period. Large-scale enterprises need to keep huge amounts of data handy and secure to analyze customer demand, this drives the growth of the segment.

By component, the solution segment held the largest share in 2020, accounting for more than three-fifths of the global digital supply chain market, and is expected to dominate the market during the forecast period. The demand is due to rise in the adoption of supply chain visibility and event management solution, which is an important part of digital supply chain. However, the services segment is estimated to register the highest CAGR of 14.8% during the forecast period, owing to rise in the adoption of supply chain management solutions which has resulted in demand for supply chain management services across different industry verticals.

Major market players

IBM Corporation
MicroStrategy Incorporated
SAP SE
TIBCO Software Inc.
Cloudera, Inc.
Oracle Corporation
Infor
SAS Institute Inc.
Tableau Software
Software AG

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