Press release
Global Digital Supply Chain Market: Transforming Operations with Technology 2024-2032
Global Digital Supply Chain Market
According to a new report by Expert Market Research titled "Global Digital Supply Chain Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global digital supply chain market size reached a value of USD 5.44 billion in 2023. Aided by the advancements in technology, increasing demand for real-time visibility and transparency, and the need for enhanced operational efficiency, the market is projected to further grow at a CAGR of 12.9% between 2024 and 2032 to reach a value of USD 16.26 billion by 2032.
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A digital supply chain refers to the integration of digital technologies, data, and processes throughout the entire supply chain ecosystem to optimise operations, enhance visibility, and improve decision-making. It involves the use of digital platforms, software applications, and advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), blockchain, and cloud computing to streamline and automate supply chain activities.
One of the primary drivers of the digital supply chain market growth is the rapid adoption of digital technologies such as the Internet of Things (IoT), artificial intelligence (AI), blockchain, and cloud computing. These technologies enable real-time monitoring, data analytics, predictive maintenance, and automation, empowering businesses to optimize their supply chain processes, reduce costs, and enhance decision-making capabilities.
Read Full Report with Table of Contents - https://www.expertmarketresearch.com/reports/digital-supply-chain-market
As per the digital supply chain market analysis, the increasing complexity of global supply chains and the growing demand for end-to-end visibility and transparency have spurred the adoption of digital supply chain solutions. With supply chains becoming more interconnected and geographically dispersed, companies are turning to digital platforms and solutions to streamline operations, mitigate risks, and improve collaboration with suppliers, partners, and customers.
The proliferation of IoT devices and sensors has enabled unprecedented visibility into supply chain operations and fuelled the digital supply chain market expansion. IoT-enabled tracking and monitoring solutions provide real-time insights into inventory levels, shipment status, temperature, humidity, and other critical parameters, enabling proactive decision-making and risk management. Artificial intelligence and machine learning algorithms are revolutionising supply chain planning and forecasting. AI-powered predictive analytics solutions analyse vast amounts of data to identify patterns, trends, and potential disruptions, helping businesses optimise inventory levels, minimise stockouts, and improve demand forecasting accuracy.
Blockchain technology in the digital supply chain market is transforming supply chain traceability and transparency by providing an immutable record of transactions and data exchanges across the supply chain network. Blockchain-based platforms enable secure and transparent tracking of products from the point of origin to the end consumer, enhancing trust, authenticity, and compliance. Cloud computing has become the backbone of digital supply chain management, offering scalability, flexibility, and accessibility to businesses of all sizes. Cloud-based supply chain platforms enable seamless collaboration, data sharing, and integration across multiple systems and stakeholders, facilitating agile and responsive supply chain operations.
As per the digital supply chain market outlook, robotic process automation is automating repetitive and manual tasks in supply chain operations, such as order processing, inventory management, and invoice processing. RPA solutions improve operational efficiency, reduce errors, and free up human resources to focus on value-added activities, driving productivity and cost savings.
Environmental, social, and governance (ESG) considerations are increasingly shaping supply chain strategies and practices and boosting the digital supply chain market share. Digital supply chain solutions enable companies to track and measure their environmental footprint, optimise transportation routes, reduce waste, and ensure ethical sourcing and labour practices, aligning with sustainability goals and regulatory requirements. Integration of supply chain networks and ecosystems is essential for achieving end-to-end visibility and agility. Digital supply chain platforms facilitate seamless integration with suppliers, logistics providers, manufacturers, and customers, enabling real-time data exchange, collaboration, and decision-making across the entire value chain.
Digital Supply Chain Market Segmentation
The market can be divided based on component, enterprise size, end use, and region.
Market Breakup by Component
Solution
Services
Market Breakup by Enterprise Size
Large Enterprises
Small and Medium-sized Enterprises
Market Breakup by End Use
Manufacturing
Retail and Consumer Goods
Automotive
Food and Beverages
Healthcare and Pharmaceuticals
Transportation and Logistics
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global digital supply chain market. Some of the major players explored in the report by Expert Market Research are as follows:
IBM Corporation
Oracle Corporation
Microsoft Corporation
SAP SE
TIBCO Software Inc.
Infor
Tableau Software, LLC
Blue Yonder Group, Inc.
Körber AG
American Software, Inc.
Others
Detailed Insights from the Report: Key Questions Explored
What was the value of the global digital supply chain market in 2023?
In 2023, the market achieved a notable valuation, approximately USD 5.44 billion.
What growth rate is expected for the market?
The digital supply chain market is anticipated to expand at a compound annual growth rate (CAGR) of 12.9% from 2024 to 2032.
What are the growth projections for the global digital supply chain market from 2024 to 2032?
Looking ahead to the forecast period from 2024 to 2032, the market is estimated to experience significant growth, reaching an estimated value of around USD 16.26 billion by 2032.
What are the primary drivers influencing the market?
Key drivers stimulating market growth include the increasing demand for cloud-based supply chain management solutions and a heightened focus on optimizing business operations while delivering customized experiences to consumers.
What are the prevailing trends affecting the market?
Major trends impacting the market include the ongoing globalization of various industries and the rapid expansion of e-commerce businesses, both of which are expected to drive market growth.
Which regions are significant in the market, according to the report?
The report identifies North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa as the key regional markets contributing to the digital supply chain landscape.
What are the key end-use sectors in the market?
Significant end-use sectors include manufacturing, retail and consumer goods, automotive, food and beverages, healthcare and pharmaceuticals, and transportation and logistics, among others, which extensively utilize digital supply chain solutions.
Who are the major players in the digital supply chain market, as identified in the report?
Leading industry players include IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, TIBCO Software Inc., Infor, Tableau Software, LLC, Blue Yonder Group, Inc., Körber AG, and American Software, Inc., among others. These companies are at the forefront of driving innovation and efficiency in digital supply chain management.
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