According to a recent study from Global Market Insights, the supply chain analytics market is set to grow from its current market value of more than $4 billion to over $10 billion by 2027, gaining remarkable traction over the 2020-2026 period.
This demand can be attributed to the need for enhanced quality and optimized performance of production, especially when enhanced customer service and effective resource utilization is pivotal.
- Automotive applications are likely to rise at a CAGR of around 18% up to 2027, primarily driven by the increasing need for enhancing the global distribution network.
- The energy and utilities sector is projected to grow at CAGR of nearly 17% over the next few years.
- Latin America is estimated to grow at a healthy 18% CAGR over 2020-2027.