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2022
Digital Supply Chain Market

Digital Supply Chain Market by Component, (Solution and Services), Organization Size (Large Enterprises and Small- & Medium-sized Enterprises), and Industry Vertical (Retail & Consumer Goods, Healthcare & Pharmaceuticals, Manufacturing, Food & Beverages, Transportation & Logistics, Automotive, and Other), and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030

A02055
Pages: 274
Jan 2022 | 13357 Views
Author(s) : Vikas Gaikwad and Rachita Rake
Tables: 116
Charts: 72
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Digital Supply Chain Market Statistics: 2030

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%. Major growth drivers of the market include 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.

The COVID-19 pandemic has significantly fostered growth rate of the market owing to the increased shift towards digitization. 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 digital supply chain market growth.

On the basis of component, the solution segment dominated the global digital supply chain market in 2020, and is expected to continue this trend during the forecast period. Increase in the adoption of supply chain visibility and event management solution, which is an important part of digital supply chain is creating lucrative opportunities for the market. Supply chain visibility and event management helps organizations in managing events in different departments and define important aspects of the entire supply chain. However, the services segment is anticipated to witness highest growth rate during the forecast period. In the past few years, the adoption of supply chain management solutions has notably increased, which has resulted in the adoption of services associated with the supply chain management across different industry verticals, as it assures effective functioning of platforms, solutions, and software. 

Digital-Supply-Chain--Market

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By organization size, the global digital supply chain market share was dominated by the large enterprises segment in 2020, 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 surge in the adoption of digital supply chain management solutions to obtain insights by analyzing real-time data across SMEs are driving the growth of digital supply chain market.

North America dominated the digital supply chain industry. The increased investment in emerging technologies such as Internet of Things (IoT), artificial intelligence (AI), augmented & virtual reality (AR/VR), 5G networking, digital twin, robotics & automation, autonomous cars, and drones is fueling growth of the digital supply chain market in this region.  However, Asia-Pacific is expected to witness highest growth rate during the forecast period. This is attributed to strong economic growth along with the ongoing development in the services sector, which has driven business enterprises to invest heavily in digital supply chain solution to sustain their growth and improve productivity. In addition, factors such as surge in smartphone penetration, rise in cloud deployment among small & medium businesses, and ongoing modernization of manufacturing & construction industries drive heavy investment in digital supply chain in the emerging countries such as India, China, and Australia. 

The report focuses on the growth prospects, restraints, and global digital supply chain market share. The study provides Porter’s five forces analysis of the global digital supply chain market forecast to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the global digital supply chain market trends.

Segment review

The global digital supply chain market is segmented on the basis of component, organization size, and industry vertical. Depending on component, the market is divided into solution and services. On the basis of organization size, it is bifurcated into large enterprises and small and medium enterprises. By industry vertical, the market is fragmented into retail & consumer goods, healthcare & pharmaceuticals, manufacturing, food & beverages, transportation & logistics, automotive, and other. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 impact analysis

Post COVID-19, 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 current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 pandemic has significantly fostered growth rate of the market owing to the increased shift towards digitization. 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 digital supply chain market growth.

Owing to this outbreak, number of industries are affected and maintaining the complex supply chain networks would be difficult for them, which is expected to drive the demand for digital supply chain. For instance, according to a survey conducted by "Institute for Supply Chain Management Organization" in March 2020, almost 75% of the companies reported global supply chain disruptions in one form or other due to the corona virus related transportation restrictions and it is further expected to increase in the upcoming few weeks.

Digital Supply Chain Market
By Component

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Services segment is projected as one of the most lucrative segments.

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Top impacting factors    

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. furthermore, security concerns associated with digital supply chain affect the market growth. In addition, proliferation of Supply Chain 4.0 and ongoing trend of digital transformation influences the market growth. However, each of these factors is anticipated to have a definite impact on the growth of the global market during the forecast period.

Increased use of industrial-grade digital technology 

Various businesses across the world are shifting their focus on reducing maintenance and upgrading efficiency of various industrial operation solutions via effective integration of data from digitally connected devices and networking equipment to get real-time product movement across the supply chain. Organizations in various industrial sectors are investing heavily to digitalize and upgrade their supply chains. For instance, in October 2021, SAP launched SAP Carbon Footprint Analytics, the new product which helps to track emission of greenhouse gases in the supply chain of various organizations. 

Digital Supply Chain Market
By organization size

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Small and medium enterprises segment is projected as one of the most lucrative segments.

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The market of digital supply chain is expected to grow at a significant rate during the forecast period, due to surge in demand for real-time forecasting and monitoring of supply and demand of products. 

Ongoing trend of digital transformation 

The integration of latest digital technologies make it possible for enterprises to comprehensively transform the way that their supply chains operate. Rise has been witnessed in the trend of digital transformation among enterprises, which results in employment of analytics, robotics, artificial intelligence, the Internet of Things, and other advanced technologies to process and collect information automatically and support decision making as well as other activities or automate them altogether. This has pushed the demand for supply chain digital transformation to improve service, agility, cost, and inventory levels and to enhance the supply chain’s performance. Hence, ongoing trend of digital transformation is opportunistic for growth of the digital supply chain industry.

Digital Supply Chain Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America is projected as one of the most significant region.

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Key Benefits For Stakeholders

  • This study includes the global digital supply chain market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and global digital supply chain market opportunity.
  • The global digital supply chain market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
  • The Porter’s five forces analysis illustrates the potency of buyers & suppliers in global digital supply chain industry.

Key Market Segments

  • By Component
    • Solution
    • Service
  • BY Organization Size
    • Large Enterprises
    • Small- & Medium-sized enterprises
  • By Industry Vertical
    • Retail & Consumer Goods
    • Healthcare & Pharmaceuticals
    • Manufacturing
    • Food & Beverages
    • Transportation & Logistics
    • Automotive
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Russia
      • Italy
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa
  • By Key Market Players
    • Cloudera, Inc.
    • IBM Corporation
    • Infor
    • MicroStrategy Incorporated
    • Oracle Corporation
    • SAP SE
    • SAS Institute Inc.
    • Software AG
    • Tableau Software
    • TIBCO Software Inc.
 

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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 primarily drive growth of the digital supply chain market. Rise in need to improve supply chain visibility and the desire for better transparency of inventory, orders, and shipment information have fueled need for digitization of supply chain. In addition, increase in trend of digital commerce is anticipated to drive investment in supply chain analytics along with rise in need for faster decision-making. Investment in smart machines and IoT and associated supply chain management software is further expected to provide lucrative opportunities for the market.

Moreover, ongoing modernization of supply chain network in number of organizations is expected to offer lucrative opportunities for the market. Supply chain operations are under pressure to adopt new business models and digital technologies to excel in an increasingly complex and volatile world. Thus, leaders in the organization are innovating and investing in new processes and technologies to help their companies remain relevant in their markets.

The degree of concentration will remain the same during the forecast period. Strategic partnerships among market participants such as logistics service providers, warehouse service providers, and transportation service providers are providing digital supply chain solution vendors with more opportunities for introducing new products and expanding their market foothold. Key players are further embracing different strategies such as collaboration, partnership, and product development to stay competitive in market and provide advanced solutions. For instance, in July 2020, Maersk launched Maersk Flow, a digital supply chain management platform that offers the customers as well as their partners with everything they need to control their supply chain. Maersk Flow will help small- and medium-sized businesses in the management of the complexity of their supply chains.

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