June 17, 2024
Supply Chain Risk Management Market
Ict

The Global Supply Chain Risk Management Market Is Bolster By Digital Transformation

The supply chain risk management market involves solutions that help organizations identify potential threats and vulnerabilities within the supply chain and take necessary actions to mitigate risks. Supply chain risks can occur at various stages including supplier failure, manufacturing delays, shipping issues, demand fluctuations, regulatory changes and geopolitical troubles. Supply chain risk management solutions help establish resilient and adaptable supply networks by enabling visibility across processes, monitoring disruptions and automating responses.

The Global Supply Chain Risk Management Market is estimated to be valued at US$ 2.56 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2030.

Key Takeaways


Key players operating in the supply chain risk management are Avetta, SAP, Curvature, DHL Resilience360, Epicor Software, GEP, LogicManager, Marsh, Software AG and The AnyLogic Company. Key players are focusing on strengthening their product portfolios and expanding their global footprints to capitalize on the growing demand for supply chain resilience.

The growing demand in the market can be attributed to increasing supply chain complexities amid rising geopolitical tensions and global trade disruptions. Organizations across industries are investing heavily in digital technologies to gain real-time visibility and strengthen risk monitoring capabilities. Automation of risk identification and mitigation processes is aiding end-to-end supply chain optimization.

Global expansion of the supply chain risk management market is being driven by increasing adoption in emerging economies of Asia Pacific and Latin America. Focus on developing local supply networks and shifting production capacities to these regions is propelling investments in risk analytics solutions. Favorable government initiatives supporting digital transformation of industries are also fueling the regional market growth.

Market Key Trends

The increasing adoption of artificial intelligence and machine learning capabilities is one of the key trends in the supply chain risk management market. AI-powered predictive analytics can autonomously analyze historical and real-time risk data to identify patterns and forecast disruptions with high accuracy. Several leading vendors are integrating AI/ML modules in their offerings to provide highly customized risk insights. This is helping organizations proactively redesign supply chain strategies and achieve long-term resilience.

Porter’s Analysis

Threat of new entrants: The Supply Chain Risk Management Market Demand involves high costs for technology adoption and implementation, posing medium threat of new entrants.

Bargaining power of buyers: Large enterprises have high bargaining power as buyers due to their ability to demand customized solutions at lower costs. However, small and medium enterprises have moderate bargaining power.

Bargaining power of suppliers: Major technology providers like Oracle, SAP and IBM have strong market presence and hold medium bargaining power over buyers.

Threat of new substitutes: No direct substitutes are available for supply chain risk management solutions. Alternatives like SCM software have medium threat.

Competitive rivalry: Fierce competition exists between major players due to their wide product & service portfolios targeting various end-use sectors.

Geographical Regions
North America currently holds the highest market share in terms of value. Growing regulatory compliances, adoption of advanced technologies by organizations, and awareness about supply chain risk are driving growth.

Asia Pacific is expected to witness the fastest growth over the forecast period. Increasing digitalization of supply chain operations, adoption of cloud-based solutions, and growing domestic consumption in emerging economies are fueling the regional market.

Geographical Regions
The United States currently holds the highest market share in terms of value for supply chain risk management. Strong regulations for supply chain transparency and risk monitoring are propelling organizations to adopt advanced solutions.

China is expected to showcase the fastest growth over the forecast period. Rapid industrialization, government initiatives towards Digital China, and expansion of local and overseas operations of Chinese companies are augmenting the regional market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it