Digital Supply Chain Market Size: Embracing Innovation for Streamlined Operations and Global Success | CAGR of 13.2%
Digital supply chain market is driven by need for end-to-end visibility, real-time analytics, adoption of IoT and focus on sustainability and ethical practices.
PORTLAND, OREGON, UNITED STATES, July 5, 2023/EINPresswire.com/ — The global digital supply chain market was worth $3,918.00 million in 2020 and is expected to grow to $13,679.00 million by 2030, at a CAGR of 13.2%. Digital Supply Chain Market Trends indicate the growing adoption of advanced analytics, internet of things (IoT) technologies, supply chain digitization, and a focus on sustainability and ethical practices.
Factors influencing the worldwide digital supply chain market include rising demand for dependable, rapid, and effective order execution; increased demand for cloud-based supply chain management systems; and greater use of industrial-grade digital technologies. However, security issues associated with the digital supply chain may limit market growth during the projection period. On the contrary, the spread of supply chain 4.0 and the ongoing trend of digital transformation is opportunistic for market growth.
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The integration of advanced analytics and predictive technologies in the digital supply chain is revolutionizing decision-making processes. Real-time data analytics, artificial intelligence (AI), and machine learning (ML) algorithms enable organizations to gain actionable insights, anticipate demand fluctuations, optimize inventory levels, and enhance supply chain responsiveness.
The adoption of IoT devices and connected technologies is transforming supply chain operations. IoT sensors, RFID tags, and smart devices provide real-time visibility into inventory, assets, and logistics, enabling organizations to track and monitor goods throughout the supply chain. This trend improves supply chain traceability, reduces lead times, enhances operational efficiency, and enables proactive issue resolution.
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The digitization and automation of supply chain processes are gaining momentum. Technologies such as robotic process automation (RPA), blockchain, and cloud-based platforms streamline manual tasks, facilitate seamless data sharing and collaboration, and improve supply chain transparency and agility. This trend enables organizations to achieve end-to-end visibility, reduce errors, optimize workflows, and drive operational efficiency.
With increasing consumer demands for sustainability and transparency, the digital supply chain market is seeing a focus on sustainability and ethical practices. Organizations are incorporating digital solutions to monitor and ensure responsible sourcing, ethical production, and environmental compliance across the supply chain. This trend addresses sustainability concerns, enhances brand reputation, and meets evolving customer expectations.
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Some of the key Digital supply chain industry players profiled in the report include Cloudera, Inc., IBM Corporation, Infor, MicroStrategy Incorporated, Oracle Corporation, SAP SE, SAS Institute Inc., Software AG, Tableau Software, and TIBCO Software Inc. This study includes digital supply chain market share, trends, digital supply chain market analysis, and future estimations to determine the imminent investment pockets.
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David Correa
Allied Analytics LLP
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