Artificial Intelligence
Supply Chain Analytics Market to Reach a Valuation of USD 32.18 Bn by 2030 at a Staggering CAGR of 20.32%, Fueled by Surge in Business Data Volume Across Diverse Sectors, Estimates Kings Research
DUBAI, UAE, Sept. 21, 2023 /PRNewswire/ — According to a recent report published by Kings Research, in 2022, the global Supply Chain Analytics Market was worth USD 5.96 billion and is foreseen to reach USD 32.18 billion in revenue by 2030, depicting a 20.32% CAGR between 2023 and 2030. The surge in business data volume across diverse sectors has emerged as a pivotal catalyst driving the expansion of supply chain analytics.
As an increasing number of organizations digitize their operations, data collection has become ubiquitous throughout the entire supply chain process, resulting in a wealth of data available for analysis, fostering insights, and enhancing overall performance. This data encompasses information from suppliers, customers, logistics providers, and a myriad of other sources. Moreover, with the rapid integration of cutting-edge technologies such as IoT and AI, the supply chain’s data generation is poised to perpetuate its exponential growth.
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Competitive Landscape
The key strategy adopted by prominent companies in the global supply chain analytics market for
expanding their customer base revolves around prioritizing product launches. As part of their efforts to expand their business globally and increase their competitiveness, companies are utilizing various strategic measures, such as acquisitions, mergers, partnerships, product introductions, and collaborations.
For instance, in April 2023, SAP SE has recently announced significant developments to supply chain solutions, which provide organizations with data-driven insights into their supply chain operations in order to improve their sustainability and resilience. It incorporates powerful artificial intelligence (AI) into SAP digital manufacturing, provides 3D product and operation views, adheres to sustainable packaging guidelines, and has integrated powerful artificial intelligence (AI) into the SAP digital manufacturing solution.
Prominent companies profiled in the supply chain analytics market include:
OracleQlikTech International ABInforKinaxis Inc.Manhattan AssociatesThe AnyLogic CompanyIBM CorporationSAS Institute Inc.SAP SEMICROSTRATEGY INCORPORATEDTABLEAU SOFTWARE, LLCTIBCOInquire Before Buying This Report: https://www.kingsresearch.com/enquiry/supply-chain-analytics-market-107
Trending Now: Maersk Opens Innovation Center to Accelerate Supply Chain Innovation
Maersk, the world’s largest container shipping company, opened a new innovation center in Copenhagen, Denmark in May 2023. The center is called the Maersk Innovation Center and is designed to accelerate supply chain innovation at an enterprise level. The Maersk Innovation Center will concentrate on four crucial areas to speed up supply chain innovation: sustainability, digitalization, collaboration, and open innovation.
The institute will investigate strategies for improving supply networks’ sustainability, such as cutting waste and emissions. It will also look into how to leverage digital technology to increase supply networks’ effectiveness and transparency. To work together on cutting-edge technologies, the center will assemble partners from all points throughout the supply chain. Additionally, it will analyze fresh perspectives and methods and will promote research and education.
The Global Supply Chain Analytics Market is segmented as:
By Component
SolutionServicesAvailability of Software Solutions Drives Supply Chain Analytics Market Expansion
By component, the solution segment is anticipated to continue its dominance, registering a valuation of USD 24.27 billion by 2030. This segmental growth is due to the widespread availability of software solutions designed to address challenges related to supply chain management. These software solutions can be used by businesses to gain knowledge, improve decision-making, and enhance supply chain efficiency.
Increased demand for supply chain analytics software, combined with the development of new technologies and methodologies to meet the unique requirements of various industries and organizations, has led to the development of these solutions for increasing efficiency and lowering costs. The market for supply chain analytics is anticipated to expand significantly, largely as a result of the widespread adoption of software solutions.
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By Deployment
Cloud-basedOn-PremisesRising Adoption of Cloud-based Solutions to Empower Businesses
By deployment, the cloud-based segment is estimated to lead the global supply chain analytics market with a valuation of USD 27.07 billion by 2030. Cloud-based supply chain analytics solutions provide various benefits, such as enhanced precision and the capacity to optimize supply chain performance. Consequently, industries spanning electronic production to logistics are witnessing a rise in the adoption of these solutions. SAP, for instance, offers a suite of cloud-based supply chain analytics solutions, including SAP Integrated Business Planning for Supply Chain and SAP Business Network for Logistics. These tools empower businesses to attain full end-to-end visibility and real-time tracking across the network, spanning manufacturing to the end consumer.Soaring Demand for AI and IoT Retail Industry to Drive Supply Chain Analytics Market Progress
The retail sector and the application of supply chain analytics have been significantly impacted by the combination of AI and IoT technologies. Retailers are utilizing these technologies to enhance every aspect of their supply chains, from purchasing to selling. Businesses operating in the retail industry can gain significant knowledge about supply chain operations, optimize performance, and provide wider access to insights based on data analysis by utilizing the capabilities of AI and IoT. Over time, this strategy may help to further streamline operations, boost efficacy, and bolster profitability. The transformation of the retail industry caused by the development of online shopping has also given rise to new supply chain analytics tools that are specially designed for e-commerce companies.
Retailers now have a wealth of opportunities to organize their supply chains and promote sustainable outcomes due to these developments. Retailers can make sure they are well-equipped to handle the needs of the expanding e-commerce sector by embracing cutting-edge technologies and putting the best practices into effect.
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Mounting Need for Operational Streamlining in North America to Support Supply Chain Analytics Market Proliferation
North America dominated the global supply chain analytics industry and is anticipated to retain its position over the review period, with a valuation of USD 10.69 billion by 2030. This dominance can be attributed to the accelerating need for operational streamlining, cost reduction, and supply chain optimization, prompting widespread adoption of AI and IoT technologies. Healthcare and retail have especially benefited from these innovations.
The retail industry, driven by tech giants and the boom of big data, is harnessing supply chain analytics to gain profound insights, enhance operational efficiency, and bolster profitability. Meanwhile, pharmaceutical and healthcare firms are grappling with the challenges posed by inventory surges, the global supply chain disruptions caused by the COVID-19 pandemic, and the growing adoption of supply chain management solutions. Overall, the north america supply chain analytics market is set to observe continual expansion, with the United States playing a pivotal role in this upward trajectory.
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Key Points from TOC:
Chapter 1 Introduction of The Global Supply Chain Analytics Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
Chapter 2 Executive Summary
Chapter 3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
Chapter 4 Global Supply Chain Analytics Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
Chapter 5 Impact of Russia-Ukraine War
Chapter 6 Global Supply Chain Analytics Market, By Component
Chapter 7 Global Supply Chain Analytics Market, By Deployment
Chapter 8 Global Supply Chain Analytics Market, By Vertical
Chapter 9 Global Supply Chain Analytics Market, By Geography
Chapter 10 North America
Chapter 11 Europe
Chapter 12 Asia Pacific
Chapter 13 Middle East & Africa
Chapter 14 Latin America
Chapter 15 Global Supply Chain Analytics Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
Chapter 16 Company Profiles
16.1 Oracle
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 SAP SE
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 IBM Corporation
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 SAS Institute Inc.
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 MICROSTRATEGY INCORPORATED
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
Continued………
Browse Complete TOC: https://www.kingsresearch.com/toc/supply-chain-analytics-market-107
About Us:
Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions.
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New analyst report recognizes Basware capabilities with the highest scores possible in the Exception Handling, Fraud and Risk Management, and Tax Compliance and Operations criteria.
CHARLOTTE, N.C., July 8, 2024 /PRNewswire/ — Basware, a global leader in AP automation and invoice processing, has been recognized as ‘a Leader’ in The Forrester Wave™: Accounts Payable Invoice Automation, Q3 2024.
CFOs, business leaders and AP (accounts payable) professionals have long sought automated invoice processes. But only recently, with the advent of AI, has there been a significant shift in the space. Companies must offer superior AI capabilities, greater automation, and more comprehensive insights into financial and cash data to attract new customers and retain existing ones.
According to the Forrester report, Basware was named as a leader in its 31-criterion evaluation. The company received the highest scores possible across 16 criteria, including Exception Handling, Fraud and Risk Management, and Tax Compliance and Operations.
The Forrester Wave™ report states:
“Basware heads the pack with a laser focus on automating the last mile of AP processes. As the largest specialist provider of APIA [Accounts Payable Invoice Automation] software, Basware has established itself as an APIA powerhouse with customer obsession, practical innovation, and solid execution. Its pragmatic product roadmap addresses critical client pain points related to compliance and fraud management.”
AP teams have been battling against external forces in recent years, such as macro-economic headwinds, the supply chain crunch, labor market shortages and expanding regulations, putting the squeeze on resources. To alleviate pressures, AP professionals need access to cost and time effective technologies that can manage increasingly complex business operations, support customers and always remain compliant with global regulations.
Nish Makwana, Finance Manager at Specsavers (customer of Basware), commented:
“Being recognized as a leader in the Forrester report confirms the outstanding performance we’ve experienced as a customer of Basware’s AP automation and Statement Matching solutions.”
In recent months, Basware has furthered its commitment to innovation and delivering value to customers and the industry by:
Partnering with Deloitte to remove manual invoice processing and accelerate finance transformationAcquiring UK-based AP Matching to boost statement reconciliationLaunching AP Protect to help protect organizations from the threat of invoice errors and fraud using AIJason Kurtz, CEO at Basware, commented:
“AP teams are tasked with managing thousands of invoices and payments every week, often putting a strain on resources and pushing them to balance speed with compliance. The answer to this challenge? Unified end-to-end APIA solutions. The industry has been calling for enhanced automated solutions to support AP departments, and we’re helping our customers save time and money, while remaining compliant with ever-changing global regulations. We believe that being named a leader sets us apart from our competitors. But we’re just getting started, and the best is yet to come.”
In 2023, Basware experienced one of its most successful financial years in its almost 40-year history. It expanded its market presence and added over 300 customers to its global portfolio of over 1000+ AP customers. During that period, Basware handled over 200 million invoices and $900 billion in invoice spend through its platform.
About Basware
Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That’s why the world’s most efficient AP departments at thousands of companies rely on Basware to handle over 220 million invoices per year. Basware. Now it all just happens.™
For more information visit: https://www.basware.com/en/
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Artificial Intelligence
Cato Networks Named a Leader in the 2024 Gartner Magic Quadrant for Single-Vendor SASE
Cato SASE Cloud Platform continues to shape the enterprise security market
TEL AVIV, Israel, July 8, 2024 /PRNewswire/ — Cato Networks, the SASE leader, today announced that Gartner, Inc. has recognized the company as a Leader in the 2024 Gartner® Magic Quadrant™ for Single-Vendor SASE.
“Cato’s true SASE platform is the antidote to IT complexity that persists in the face of ongoing so-called ‘platformization’ efforts,” said Shlomo Kramer, co-founder and CEO at Cato Networks. “Cato pioneered the SASE market and is shaping its future with best-in-class customer experience and a train of innovations that deliver on SASE’s promise.”
Built from its inception to be a platform, the Cato SASE Cloud combines operational excellence and an elegant customer experience. Cato’s autonomous cloud service offloads IT from the grunt work of extending, upgrading, patching, and scaling security infrastructure while sustaining resiliency and availability. “Platformization” is a portfolio approach to SASE and attempts to integrate multiple acquired products with differing code bases, form factors, policy engines, and data lakes into a single platform – an impossible task that is apparent to anyone familiar with the two approaches.
“We believe this Gartner recognition reflects what our customers experience with Cato every day,” continued Kramer.
As of July 3, 2024, on Gartner Peer Insights™, the Cato SASE Cloud Platform had an overall rating of 4.7 out of 5 for single-vendor SASE and 183 verified reviews – more than 10x of any Leader in the single-vendor SASE Magic Quadrant.
Cato Expands the Scope of Single-Vendor SASE
Gartner defines single-vendor secure access service edge (SASE) offerings as those that deliver multiple converged-network and security-as-a-service capabilities, such as software-defined WAN, secure web gateway, cloud access security broker, network firewalling and zero trust network access. These offerings use a cloud-centric architecture and are delivered by one vendor.1
The Cato SASE Cloud Platform extends beyond the original definition of SASE to deliver world-class performance and empower IT teams to eliminate threats and troubleshoot network incidents faster. Cato owns and manages the global cloud network, delivering an exceptional SASE experience to any enterprise worldwide. Functionally, Cato extends beyond threat prevention of the original SASE scope with SASE-managed endpoint protection (EPP/EDR) and SASE-based extended detection and response (XDR), the first AI-driven networking and security incident detection and response platform.
To experience Cato yourself, visit us at https://www.catonetworks.com.
1Gartner, Magic Quadrant for Single-Vendor SASE, Andrew Lerner, Jonathan Forest, Neil McDonald, Charlie Winckless, 3 July 2024
GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant and PEER INSIGHTS are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences with the vendors listed on the platform, should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
Resources
Read the Cato blog, “With Great Leadership Comes Great Responsibility”Picture of Shlomo KramerCato Networks’ LogoAbout Cato NetworksCato Networks is the SASE leader, delivering enterprise security and networking in a single cloud platform. With Cato, organizations replace costly and rigid legacy infrastructure with an open and modular SASE architecture based on SD-WAN, a purpose-built global cloud network, and an embedded cloud-native security stack.
Want to learn why thousands of organizations secure their future with Cato? Visit us at www.catonetworks.com.
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Expanding Messaging Capabilities for Businesses
SAN FRANCISCO and STOCKHOLM, July 8, 2024 /PRNewswire/ — Sinch (Sinch AB (publ) – XSTO: SINCH), which is pioneering the way the world communicates through its Customer Communications Cloud, today introduced the Sinch Omnichannel Connector on Salesforce AppExchange. This innovative solution enhances conversational marketing opportunities and customer experiences by offering Salesforce Marketing Cloud customers advanced one-way and two-way messaging capabilities. The solution is now available on Salesforce AppExchange.
The Sinch Omnichannel Connector seamlessly integrates with the Salesforce ecosystem, empowering businesses to elevate their marketing strategies by reaching and engaging customers across their preferred channels. This new offering expands the reach of Salesforce Marketing Cloud platform features, providing a comprehensive suite of omnichannel messaging capabilities. Businesses can now connect with customers through one-way and two-way messaging across 13 diverse channels, including platforms like RCS, Kakao Talk, Viper, and Instagram. This expands Salesforce’s native channels of SMS, MMS, Email, WhatsApp, and LINE, providing a comprehensive communication solution.
“With the Sinch Omnichannel Connector, businesses can enhance their customer communications, personalize engagements, and maximize the return on their marketing investments,” said Jonathan Campbell, Senior Director, Messaging Products at Sinch. “Salesforce Marketing Cloud users can now leverage a broader spectrum of messaging channels through Sinch, beyond those directly supported by Salesforce, to optimize their marketing strategies and elevate customer engagement.”
To get started, Salesforce Marketing Cloud users simply need to have an existing account and onboard the Conversation API through the Sinch Dashboard. From there, they can easily activate the channels of their choice, tailoring their messaging strategy to suit their unique business needs.
Sinch has partnered with Salesforce since 2014 when Salesforce expanded its SMS offering into international markets. Sinch is a strategic supplier for Salesforce’s global SMS delivery and provides enterprise-grade messaging solutions that support Salesforce and its global customer base.
For more information visit Sinch Omnichannel Connector
Salesforce, AppExchange, Marketing Cloud and others are among the trademarks of Salesforce, Inc.
CONTACT:
For further information, please contact:
Janet LennonDirector of Global Communications [email protected]
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