Supply Chain Analytics Market – Data and Key Challenges

24 August 2023

The supply chain analytics market size is expected to grow by USD 10,121 million in the next five years. As per the latest report, the market will progress at a CAGR of 20% from 2022 to 2027. The increased use of predictive analytics in the supply chain is a major trend in the market. Global imports were at USD 25,050 billion in 2022 while exports were at USD 24,487 billion. Let’s have an in-depth data analysis of the global supply chain market.

Key Challenges of the Global Market

 The following factors are expected to restrict the market growth during the forecast period:

            ·         Implementation challenges may restrict supply chain analytics market growth.

            ·         Coordination between buyers and suppliers is complex.

            ·         Supply chain process involves critical variables difficult to achieve.

            ·         Companies have their own data storage systems that may not be compatible.

Supply Chain Market – Import Commodity Analysis

Global imports totaled USD 25,050 billion in 2022. Mineral fuels & oils, electrical machinery & equipment, machinery, mechanical appliances, etc., vehicles other than railway or tramway, pharmaceutical products, and pearls & precious stones were the biggest import categories. Here is a data visualization to understand the values of these commodities reported in 2022.

Supply Chain Market – Export Commodity Analysis

Global exports totaled USD 24,487 billion in 2022. Mineral fuels & oils, electrical machinery & equipment, machinery, mechanical appliances, etc., vehicles other than railway or tramway, pharmaceutical products, and pearls & precious stones were the biggest export categories. Here is a data visualization to understand the values of these commodities reported in 2022.

Supply Chain Market – Import Country Analysis

The United States of America and China are the biggest importing countries that together imported goods worth USD 6,090 billion in 2022. Here is the list of the world’s top 10 import countries with their trade values recorded in 2022.

Supply Chain Market – Export Country Analysis

China and the United States of America are the largest economies in the world. In 2022, China exported goods worth USD 3,593 billion and the United States exported products worth USD 2,062 billion. Here are the world’s top 10 export countries with their trade values reported in 2022.

The increased need to improve business processes is a key factor driving market growth. The various predictive mechanisms and hedging models are used to improve business productivity through supply channel analytics. It helps companies gain growth opportunities and reduce defects and failure rates in products and services.