Supply Chain Risk Management Witness High Growth Owing To Increasing Demand For Supply Chain Visibility and Risk Mitigation Solutions

Poonam

Supply Chain Risk Management Witness High Growth Owing To Increasing Demand For Supply Chain Visibility and Risk Mitigation Solutions

The Supply Chain Risk Management market is estimated to be valued at US$ 2.22 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Supply chain risk management includes products and solutions that help enterprises identify, assess, and minimize risks across the supply chain. Key products include risk identification software, risk monitoring solutions, analytics and reporting tools, and vendor management software. These solutions help businesses achieve supply chain visibility, mitigate disruptions, and ensure continuous operations.

Market Dynamics:

Increasing investment in digital transformation initiatives by enterprises is expected to drive the market growth over the forecast period. Digital technologies such as Internet of Things (IoT), analytics, cloud computing are enabling real-time visibility and monitoring of supply chain networks. Furthermore, growing geopolitical tensions and trade wars have increased unpredictability in global supply chains. This has boosted the demand for advanced risk management solutions that help protect supply chains from disruptions. Additionally, the outbreak of COVID-19 pandemic severely impacted global supply chains and highlighted the need for robust risk management.

SWOT Analysis

Strength: Supply chain risk management offers end-to-end visibility across the supply chain. It helps in proactive monitoring of the supply chain and enables early detection of issues. Supply chain risk management solutions provide real-time notifications to resolve issues before they impact business continuity.

Weakness: Implementation of supply chain risk management solutions requires high initial investments and involves additional maintenance costs. Data integration is a challenge for organizations having legacy systems in place across different business units.

Opportunity: Rising disruptions in global supply chains due to geo-political tensions and health pandemics have increased the need for robust supply chain risk management. Growing adoption of IoT, AI and blockchain technologies present an opportunity to develop advanced predictive analytics capabilities in supply chain risk management.

Threats: Stringent government regulations around data privacy and security pose compliance challenges. Significant supply chain disruptions and global economic slowdowns threaten continuity of operations.

Key Takeaways:

The global Supply Chain Risk Management Market Share is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing disruptions in global supply chains. Issues including trade wars, health pandemics and natural calamities have highlighted the need for end-to-end visibility and proactive monitoring of supply chain networks.

Regional analysis: North America dominated the supply chain risk management market in 2023, owing to stringent regulations around supply chain security. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to the expansion of manufacturing industries and establishment of global supply chain hubs in countries including China, India and Southeast Asian nations.

Key players operating in the Supply Chain Risk Management market are IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (the Netherlands), Testo (Germany), ORBCOMM (US), Sensitech (US), ELPRO (Switzerland), Rotronic (Switzerland), Monnit (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Dickson (US), Signatrol (UK), Hanwell Solutions (UK), Controlant (Iceland), Roambee (US), Omega Compliance (Hong Kong), Tagbox Solutions (India), C2A Security (Israel), SafeTraces (US), Tive (US), Altana (US), FourKites (US).

Poonam

Market Supply Chain Risk Management is Estimated To Witness High Growth Owing To Increased Supply Chain Complexity & Regulatory

Poonam 2023-10-27

The Supply Chain Risk Management Market is estimated to be valued at US$ 2. Modern supply chain risk management platforms leverage technologies such as artificial intelligence and blockchain to gain real-time insights into the global supply network. SWOT Analysis Strength: - Supply chain risk management solutions help identify potential issues proactively and prevent disruptions. Weakness: - High initial investment and maintenance costs of supply chain risk management solutions may not be affordable for small businesses. Threats: - Cyber threats can potentially exploit any vulnerabilities in supply chain risk management systems.

Supply Chain Risk Management Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Advanced Technologies and Growing Focus on Supply Chain Resilience

Yashvi Gadhiya 2023-08-17

The global Supply Chain Risk Management Market is estimated to be valued at USD 2. Key products associated with this market include supply chain risk assessment tools, risk analytics software, and supply chain visibility solutions. Firstly, the increasing adoption of advanced technologies such as cloud computing, artificial intelligence (AI), and blockchain in supply chain management is driving market growth. Lack of awareness and understanding of the importance of supply chain risk management among organizations. The region has a high concentration of key players and is witnessing increased investments in supply chain risk management solutions.

Beyond Traditional Approaches: Innovations in Supply Chain Risk Management

Larry Paige 2023-06-30

Traditional approaches focused on reactive measures, but advancements in technology and data analytics have paved the way for more proactive and dynamic risk management strategies. One significant innovation is the use of artificial intelligence (AI) and machine learning algorithms to analyze vast amounts of supply chain data in real-time. By providing a transparent and immutable ledger, blockchain enables secure and traceable transactions, reducing the risk of fraud, counterfeiting, and supply chain disruptions. Moreover, cloud computing enables seamless collaboration and information sharing across the supply chain, improving communication and response time during risk events. Embracing innovations in supply chain risk management empowers organizations to proactively identify, assess, and mitigate risks, resulting in a more resilient and efficient supply chain.

The Rise Of Supply Chain Risk Management Market Will Drive Growth Owing To Rising Trade Protectionism

Leena Shedmake 2024-02-09

The supply chain risk management market caters to supply chain security and risk mitigation solutions such as risk identification, planning and simulation. The global supply chain risk management market is estimated to be valued at US$ 2. They provide end-to-end supply chain risk management solutions to help businesses mitigate risks. This underscored the importance of identifying potential risks and implementing mitigation plans in advance through supply chain risk management solutions. In terms of geographical concentration, North America dominates the supply chain risk management market in terms of value currently.

The global Supply Chain Risk Management Market Growth Accelerated by Adoption of Advanced Technologies

naufan003 2024-01-11

The global Supply Chain Risk Management Market is estimated to be valued at US$ 2. With digital transformation gaining rapid traction across industries, investments in emerging technologies in the supply chain space are expected to significantly drive the demand for supply chain risk management solutions over the forecast period. Segment Analysis The global supply chain risk management market is segmented on the basis of component, deployed mode, organization size, vertical, and region. Key Takeaways The Global Supply Chain Risk Management Market Size is expected to witness high growth in the coming years. The global Supply Chain Risk Management Market is estimated to be valued at US$ 2. Key players: Key players operating in the supply chain risk management market are Rise, GEP, Avetta, DHL Resilience360, Epicor, Ivalua, Dassault Systèmes, and IBM.

Supply Chain Risk Management: A Necessary Approach for Business Resilience

Purvaja 2024-02-21

Understanding Supply Chain Risks A supply chain consists of various suppliers, manufacturers, transporters, warehouses and customers linked together to source, produce and distribute products and services. Recent Supply Chain Risk Management disruptions due to fires in chemical warehouses highlight this risk. Approaches for Mitigating Supply Chain Risks Understanding potential risks across the supply chain is only the first step. With the evolution of digital tools, disruption monitoring and risk prediction are becoming smarter to propel evidence-based risk management. Get more insights on this topic: Supply Chain Risk Management

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