Indoor Farming Market Size Worth $50.3 Billion By 2025

The global indoor farming market size is estimated to reach USD 50.3 billion by 2025, exhibiting a CAGR of 9.19% from 2019 to 2025, according to the new report conducted by Grand View Research, Inc. The increasing demand for food owing to the rising population is expected to drive the growth. Factors such as declining water supply, urbanization, and climate change have contributed to the loss of arable land. This in turn is driving demand for indoor farms to produce food. In addition, challenges, such as rising global temperature and extreme weather conditions, act as a barrier in the traditional farming technique. The European Environment Agency (EEA) has carried out several initiatives to build vertical farms to overcome these challenges and produce food in an environment-friendly way.

Indoor farming increases the crop yield and reduces farming impact on the environment by reducing the distance traveled in the supply chain. It reduces need for the land space required to grow plants compared to traditional farming methods by using growing shelves mounted vertically. Rising consumer awareness regarding consumption of healthy and fresh food is anticipated to positively influence the market for indoor farming over the forecast period. Furthermore, the use of technology, such as LED indoor farming to create nature-like conditions will help farmers meet the expected demand for food supply in near future.

Europe dominated the indoor farming market in 2018 and is anticipated to remain dominant over the coming years, owing to the continuous adoption of advanced technologies such as LED lighting, controlled environment agriculture. Asia Pacific is expected to exhibit the fastest CAGR from 2019 to 2025, owing to the increasing indoor farms in countries such as China and Japan. Increasing adoption of greenhouses and vertical farms is projected to bode well for the regional growth. In addition, the rising demand for pesticide-free, fresh vegetables and fruits is expected to fuel the regional market growth.

The key players operating in the market include Netafim (Israel), Richel Group (France), PRIVA (Netherlands), and Argus Control System Limited (Canada). Companies across the globe, such as Signify Holding and Osram GmbH, are working on developing innovative lighting systems for indoor farming.

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Further key findings from the study suggest:

The greenhouses segment dominated the market in terms of revenue in 2018 as these facilities produce higher yields. Greenhouses offer a stable and highly controlled environment for the cultivation of flowers, vegetables, and fruits
The fruits, vegetables, and herbs segment is estimated to register the fastest CAGR over the forecast period, owing to the increasing food consumption along with growing consumer awareness regarding the importance of healthy eating, especially in regions such as Europe and Asia Pacific
The climate control systems segment is projected to expand at the highest CAGR during the forecast period, as the crop development can be controlled by adjusting and monitoring the concentration of minerals
Some of the key players operating in the indoor farming market include LumiGrow (U.S.), Illumitex (U.S.), Hydrodynamics International (U.S.), and Agrilution (Germany)

Distributed Acoustic Sensing Market Size Worth $775.8 Million By 2025

The global distributed acoustic sensing market size is expected to reach USD 775.8 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to exhibit a CAGR of 11.5% from 2019 to 2025. The use of fiber optic sensors is progressively increasing in the oil and gas industry since they provide a data-rich perspective on micro-seismicity and fracturing process. Also, with the increasing importance of border surveillance, distributed acoustic sensing systems are being highly used in the security and surveillance industry since they provide high-reliability and low-cost surface crossing and tunnel construction detection. Due to the high potential of intrusion detection, the adoption of DAS systems is growing in several asset protection-related applications, such as railways, high-value facility perimeters, and oil and gas pipelines.

The economic benefits of distributed acoustic sensing are anticipated to create growth opportunities for the market in the forthcoming years. The key drivers include the prevention of construction damages and pipeline thefts. DAS systems can perform the early detection of leakages, corrosion, erosion, and malicious third-party intrusion, which offer economic benefits to the industry. Also, they provide real-time monitoring of assets and perimeters, which provides improved security. Therefore, distributed acoustic sensors are used in various end-user industries for long-distance tracking of the acoustic signals generated by external interferences.

The Asia Pacific distributed acoustic sensing market is expected to witness substantial growth over the forecast period, owing to the emerging trends, such as increasing penetration of seismology. According to the U.S. Energy Information Administration, the region accounted for approximately 10% of the world’s crude oil production in 2018. China alone contributed approximately 5% of global crude oil production in the same year. Due to the presence of substantial oil and gas industries, the region is expected to demonstrate significant growth in distributed acoustic sensing shortly.

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Further key findings from the report suggest:

The significant surge in the deployment of optical fiber sensors in oil and gas industries will create a massive potential for the distributed acoustic sensing market
Market players are focusing on providing optical fiber acoustic sensors for wellbores, which offers long-distance data transmission for subsea and downhole
Key market players are considering partnerships and acquisitions of startups providing innovative products to expand their outreach in the market
The key competitors in the market are OptaSense; Halliburton; Schlumberger Limited; Baker Hughes, a GE Company LLC; Future Fibre Technologies; Northrop Grumman Corporation; Fotech Solutions Ltd.; Omnisens; Silixa Ltd; and Ziebel; among others

Active Electronic Components Market Size Worth $495.2 Billion By 2025

The global active electronic components market size is estimated to reach USD 495.2 billion by 2025, registering a CAGR of 9.6% from 2019 to 2025, according to a new study by Grand View Research, Inc. Growing demand for active electronics components for manufacturing smart home appliances such as refrigerators, air conditioners, and washing machines among others, is estimated to boost the market growth. Moreover, the anticipated adoption of active electronic components in networking devices and telecom equipment requisite for developing 5G infrastructure is further expected to elevate the growth.

Wearables such as smartwatches, Virtual Reality (VR) headsets, and fitness bands among others are gaining popularity among consumers. Consumers are increasingly willing to spend a significant amount on health and entertainment, which in turn it has accelerated the demand for wearable devices among consumers worldwide. This is further anticipated to increase the adoption of active electronic components in the coming years. In addition, voluminous patient data coupled with investments made by the governments and private players worldwide for setting up state-of-the-art healthcare facilities has augmented the adoption of high-tech medical equipment and connected devices. Thus, with rising demand for these devices, the demand for active electronic components is expected to surge globally over the forecast period.

Demand for connected cars is fast transforming the automotive industry. This has increased the use of advanced electronics in automotive for multiple applications, such as parking, safety, telematics, and navigation among others. Thus, growing demand for advanced electronics in automotive is expected to drive demand for active electronic components over the forecast period. Also, the rising demand for advanced microcontrollers or modems in order to provide robust connectivity to autonomous cars and other critical applications is further expected to surge the adoption of active electronics components from 2019 to 2025.

With the rising trend of industry 4.0, the adoption of the Internet of Things (IoT) devices in the manufacturing sector is gradually increasing worldwide. Key manufacturers are opting for new technologies to augment their overall productivity and operational efficiency in order to ensure profitability. Therefore, the rising adoption of IoT technology for smart manufacturing applications, such as machine-to-machine communication is estimated to augment the adoption of active electronic components over the forecast period. Furthermore, the escalating trade war between U.S. and China is anticipated to restrict the overall market growth over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/active-electronic-components-market

Further key findings from the report suggest:

The active electronic components market in India is anticipated to register a CAGR of 12.8%, attributed to the rising investments by prominent smartphone manufacturers in view of establish their own manufacturing facilities in the country
The Integrated Circuits (ICs) segment held a market size exceeding USD 80 billion in 2018, attributed to the robust increase in the demand for ICs integrated with state-of-the-art devices such smartphone, laptops, vehicle automation systems, and network devices among others
Significantly growing demand for active electronic components across next-generation devices such as 5G-enabled smartphones, gaming consoles, and other consumer electronics is estimated to fuel the consumer devices segment growth from 2019 to 2025
Several key market players are focusing on mergers and acquisitions in order to strengthen their market presence and expand their product portfolios
Prominent market players include Infineon Technologies AG; NXP Semiconductors NV; Texas Instruments Incorporated; Toshiba Corporation; STMicroelectronics; Semiconductor Components Industries, LLC; Intel Corporation; Maxim Integrated; Renesas Electronics Corporation; Broadcom Inc.; Qualcomm Inc.; Analog Devices, Inc.; Advanced Micro Devices; Microchip Technology Inc.; and Monolithic Power Systems Inc.

Sound Recognition Market Worth $4.42 Billion By 2025

The global sound recognition market size is expected to reach USD 4.42 billion by 2025, exhibiting a CAGR of 75.8% over the forecast period, according to a new report published by Grand View Research, Inc. Sound recognition runs on inexpensive microcontrollers that result in a low bill of materials, thereby providing an economical solution. It is highly flexible since it can detect various sounds and allows users to add their sound event classifiers, thereby providing easy customization of sound event. Thus, high flexibility and low cost are expected to propel the market growth.

Sound recognition technology is used for various purposes, such as music recognition and speech recognition among others. Increasing adoption across applications such as for monitoring and surveillance system for automatic alarm detection and rising use in smart safety solutions are the factors expected to drive the market growth. Other factors, such as increasing adoption of advanced technologies including Artificial Intelligence (AI), machine learning, Internet of Things (IoT), and others, are anticipated to further drive the adoption of sound recognition in the forthcoming years.

The artificial intelligence-based sound recognition technology is expected to register a high CAGR over the forecast period. This is due to increasing involvement of market vendors in developing sound recognizing products integrated with intelligent technology to provide customers with ease and flexibility. In the application segment, the automotive section is expected to gain moderate traction. This is due to factors such as integration of sound recognition technology in autonomous cars to recognize sounds inside and outside the car and improve safety.

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https://www.grandviewresearch.com/industry-analysis/sound-recognition-market

Further key findings from the report suggest:

Increasing adoption of sound recognition technology for emergency vehicle detection condition monitoring and wear detection, amongst others are factors driving growth of the automotive segment
Benefits such as high efficiency due to edge processing and high control and awareness with the help of real-time analytics are driving the sound recognition market growth
Vendors in the Europe market are gaining a competitive edge in the market by receiving substantial investments from companies such as Cambridge Innovation Capital plc and IQ Capital for enhancing their exiting sound recognition technology
Wavio, OtoSense, abilisense, Reality AI, and Audio Analytic Ltd. are some of the key plyayers operating in the market

LiDAR Services Market Size Worth $2.6 Billion By 2025

The global LiDAR services market size is expected to reach USD 2.6 billion by 2025, registering a CAGR of 14.5% from 2019 to 2025, according to a new study by Grand View Research, Inc. LiDAR services find prominent applications in the automotive industry. Further, favorable government policies regarding self-driven vehicles and advanced driver-assistance systems (ADAS) are fueling market growth.

The use of LiDAR services in autonomous vehicles is one of the major factors driving the market. Furthermore, increasing automobile production across developed and developing economies, along with the growing demand for technologically advanced electronic safety systems in vehicles, are the major factors positively impacting market growth. The implementation of stringent carbon emission norms are driving demand for next-generation technologies, such as advanced driving systems. This, in turn, is likely to drive demand for LiDAR services over the forecast period. Further, LiDAR sensors are also used for security, surveillance, and logistics in industrial automation. The extensive use of sensors in the automotive and industrial automation industry is anticipated to positively influence the market over the forecast period.

The market is anticipated to be driven by growing 3D imaging technology. The growing use of 3D imaging enabled devices, such as the robotic vision system, medical imaging device, and the 3D X-ray imaging device, are expected to boost the growth of the market. Besides, the implementation of LiDAR services in 3D imaging is expected to boost its demand in the healthcare industry.

North America held largest market share in 2018, followed by Asia Pacific and Europe. The Asia Pacific regional market is expected to witness robust growth over the forecast period, owing to the increasing awareness regarding the benefits of the techonology in the automotive and industrial automation industry. Moreover, the rise in demand can be attributed to the growth in adoption of ADAS in autonomous cars in China, Japan, South Korea, and Singapore.

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https://www.grandviewresearch.com/industry-analysis/lidar-services-market

Further key findings from the report suggest:

The GIS service segment is estimated to gain high traction in the market. As this involves advanced terrestrial laser scanning systems for data acquisition in 3-dimensional point clouds
The modelling segment is further sub segmented as city modelling and others. The city modelling segment is expected to account for maximum share in the market
The significant adoption of LiDAR in Unmanned Aerial Vehicles (UAVs) has led to the growth of the market
Increasing adoption of LiDAR mapping across different applications namely corridor mapping delivers sustainable growth opportunities for market
Maintaining operational costs is a major focus area of the suppliers in the market. As availability of low-cost services in the market creates major concern for the prominent suppliers
The emergence of a considerable number of substitutes, such as HTC Corporation, and Sony Corporation, introducing low-cost automotive imaging LiDAR sensors, is expected to challenge market growth
The key participants in the LiDAR services market are namely Fugro; GeoDigital; Harris Geospatial Solutions, Inc.; Hexagon; Kucera International; Quanergy Systems, Inc.; Quantum Spatial; and Surdex Corporation.

Smart Ticketing Market Size Worth $33.7 Billion By 2026

The global smart ticketing market size is expected to reach USD 33.7 billion by 2026, registering a CAGR of 14.9% from 2019 to 2026, according to a new report by Grand View Research, Inc. Increase in demand for smart ticketing solutions in the travel and tourism industry owing to its ease of use and convenience, and growing reliance on online transactions are expected to drive the market over the forecast period. In addition, upsurge in intelligent transportation systems across the globe is further fueling the market growth.

Smart transit systems allow passengers affordable access to rapid transit systems, also known as metro or subway. These systems store a ticket electronically on a microchip, which is embedded onto a smart card. This allows passengers to load or credit it in advance for their travel, reducing the time spent in queues and speeding up the boarding process. Public transportation authorities across the globe are emphasizing on implementing these systems to reduce traffic in congested city areas and to deliver solutions that are environment-friendly. Numerous public transportation agencies are promoting the use of these solutions as they are easy to use, reliable, and more secure as compared to traditional magnetic stripe cards or tickets. These solutions are also highly durable and have a longer life span than their traditional paper counterparts.

Continuous innovations take place in this field with the view to improving customer experience. For instance, the South Western Rail in U.K. launched Tap2Go, which removes the need for customers to buy a ticket before their journey. Passengers touch their card at the gates and validators at the start and end of their journey. The system then calculates the best fare and the payment is deducted from their account the day after their travel. It is also linked to PayPal to make transactions easier.

These solutions offer high operational efficiency and increased security against fraud, which, in turn, is expected to contribute to the market growth over the forecast period. Moreover, these solutions require low maintenance compared to systems that use magnetic stripe technology. Furthermore, these smart solutions allow quick payment transactions and offer passengers with flexible travel options such as part-time season passes or carnets. This is subsequently expected to drive the demand for these solutions over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/smart-ticketing-market

Further key findings from the report suggest:

The software component segment is expected to witness significant growth over the forecast period owing to increased demand for payment gateways and other connected systems such as cards through servers and smartphones
An e-ticket offers various advantages such as flexibility, security, and convenience for both transport agencies and travelers, which would encourage them to adopt these solutions
Smart card systems enable transport service providers to reduce cash flows and implement flexible tariffs. These systems provide the added benefit of convenience as the fare payment can easily be made at the customer’s point of entry into the transit system; for example, at the subway gate or before boarding a bus. As a result, smart card systems are widely adopted by transport service providers across the globe
The sports and entertainment segment is expected to register the highest growth rate over the forecast period. Increase in adoption of verified e-tickets procured from authentic apps on mobile devices helps lessen fraudulent activities and resale of tickets online or outside an event venue at inflated prices
The growth of the Europe market is attributed to the thriving tourism industry, continuous innovations of these systems and their adoption in urban areas, and simplified technology ecosystem in the region. In U.K. for instance, the National Rail has incorporated a range of technologies such as platform and ticket validators at their train stations that enable the use of these systems
Smart ticketing market key players include CPI Card Group Inc.; Cubic Corporation; Confidex Ltd.; Gemalto NV; Giesecke & Devrient GmbH; Infineon Technologies AG; and NXP Semiconductors.

Automotive Electric Fuel Pumps Market Worth $18.44 Billion By 2025

The global automotive electric fuel pumps market size is estimated to reach a value of USD 18.44 billion by 2025, progressing at a CAGR of 5.0% from 2019 to 2025, according to a new study by Grand View Research, Inc. An automotive electric fuel pump is used to pump fuel from tanks to injectors, which further sprays fuel into engine with high pressure. Surging demand for high fuel-efficient pumps to reduce the overall fuel consumption in vehicles along with rise in global vehicle production and sales is anticipated to propel the market over the forecast period.

An electric fuel pump is widely used in vehicles, owing to its numerous benefits such as high product reliability, power output, and fuel efficiency as compared to mechanical fuel pumps. The adoption of automotive electric fuel pumps among original equipment manufacturers (OEMs) in modern vehicles has increased significantly as the product ensures accurate injection pressure and flow of fuel to engine. Moreover, stringent government regulations to produce fuel-efficient and low carbon emission vehicles are expected to create remarkable growth opportunities for the market during the forecast period.

Prominent market players such as Robert Bosch GmbH, Denso Corporation, Delphi Automotive, and Continental AG are increasingly focusing on partnership agreements with automobile manufacturers to supply electric fuel pumps to enhance their overall market presence and profitability. Besides, a few key market players are expanding their production facilities in developing countries to avail the product at affordable costs to OEMs and aftermarket consumers. For instance, in 2013, Continental AG started its new production plants for fuel pumps in India to supply the products to its key clients such as Volkswagen Group.

Despite numerous product benefits, increasing production of counterfeit products, coupled with rapidly growing adoption of electric vehicles, is likely to hinder the growth of the automotive electric fuel pumps market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/automotive-electric-fuel-pumps-market

Further key findings from the report suggest:

The passenger car segment is poised to dominate the market in terms of revenue throughout the forecast period. Increasing personnel mobility requirements and soaring need for fuel efficient passenger vehicles can contribute to the growth of the segment
Turbine style electric fuel pumps held the leading revenue share in the market in 2018 as they offer higher operational efficiency, lower noise emission, and can deliver accurate pressure measure, driving higher performance of vehicles
Macroeconomic condition and regulation such as mining ban in India may affect the demand of heavy commercial vehicles (HCVs). Increasing demand for LCVs, particularly in rural areas, is anticipated to unfold new growth opportunities for the segment
The Asia Pacific automotive electric fuel pumps market is estimated to experience the highest growth in terms of value during the forecast period. Rising demand for passenger vehicles in developing countries such as India, China, and Korea is escalating the growth of the segment
According to Valeo Group, the number of vehicles produced in China has doubled since 2007, with more than 23 million vehicle productions in 2014, which accounted for 27.0% of the global production
The key industry participants include Denso Corporation, Delphi Automotive PLC, Continental AG, General Motors Company, Pricol Limited, and Robert Bosch. Other prominent vendors include Visteon Corporation, Federal-Mogul Corporation, Daewha Fuel Pump Ind., Ltd., and ACDelco.

Video Management Software Market Worth $4.79 Billion By 2025

According to a report published by Grand View Research, the growing adoption of video surveillance and monitoring tools for applications such as building security, traffic control, and cross-border activities is a key driver for market growth.

According to a report, “Video Management Software Market Size, Share & Trends Analysis Report By Technology, By Deployment (On-Premise, Cloud), By Solution, By End Use, By Region, And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global video management software market size is expected to reach USD 4.79 billion by 2025, growing at a CAGR of 18.8% from 2019 to 2025. The growing adoption of video surveillance and monitoring software for applications such as facility protection, traffic management, and cross-border activities is the key driver contributing to the market growth. The software is majorly used for the unified management of multimedia content including collection & storage, playback, and streaming functionalities.

The market is anticipated to witness significant growth owing to increasing awareness of the benefits offered by VMS and growing investments in city surveillance as part of the smart city projects. Moreover, the increasing adoption of High-Efficiency Video Coding (HEVC), also known as H.265 video compression standard, coupled with the rising trend of integrating VMS with emerging technologies such as built-in intelligence and deep learning for video analytics is expected to boost the video management software market growth. A unified VMS enables customers to merge analog and IP videos and offers a cost-effective approach to businesses for expanding and improving their surveillance capabilities.

VMS can be integrated with multiple digital cameras depending on the requirements of the customer. With the growing adoption of Closed-Circuit Television (CCTV) cameras and Internet Protocol (IP) network cameras in the security and surveillance market, the demand for VMS is also anticipated to witness significant growth over the forecast period. The software enables customers to enhance situational awareness and monitoring capabilities. High-resolution videos and imagery can also be used by government law enforcement agencies to identify, track, and arrest criminals.

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https://www.grandviewresearch.com/industry-analysis/video-management-software-market

Video Management Software Market Report Highlights

On the basis of technology, the hybrid video management software market segment dominated the market in 2018 led by the widespread introduction of traditional video monitoring systems by governments and companies to boost defense.
The IP-based video management software segment is expected to witness the fastest growth over the forecast period due to the rising trend of replacing conventional analog video monitoring and surveillance systems with IP-based cameras.
Based on the solution, the data integration segment dominated the market in 2018 owing to the wide-scale adoption in video surveillance and monitoring solutions.
The video analytics solution is anticipated to emerge as the fastest-growing segment over the forecast period. Video analytics plays a critical role in solutions such as traffic monitoring & management, transportation & logistics, and retail customer analytics.
On the basis of deployment, the on-premise segment enables users to integrate multiple cameras installed on a site and deploy the software at their workstations or servers within the facility. This segment dominated the market in 2018.
The cloud-based video management software segment is expected to witness high growth over the forecast period owing to the increasing use of cloud-based solutions by small, medium as well as large enterprises.
North America dominated the video management software market and can be attributed to the presence of key industry players and increased adoption of high-end IP-based monitoring and surveillance systems in the region.
The Asia Pacific is projected to emerge as the fastest-growing market for video management software owing to the rising adoption of cloud-based video management software in emerging markets such as China and India.

Big Data as a Service Market Size Worth $51.9 Billion By 2025

The global big data as a service (BDaaS) market is estimated to reach USD 51.9 billion by 2025, registering a CAGR of 38.7% over the forecast period, according to a new study by Grand View Research, Inc. The combination of big data analytics technologies and cloud computing platforms has led to the development of Big Data as a Service or BDaaS. BDaaS offers analyses of large and complex datasets over the Internet or as cloud-hosted services. The increasing requirement of structured data for analyses, which helps organizations achieve targets, coupled with the growing number of social media platforms and users accessing accessible multimedia content on the Internet, such as videos, audio, and text, are anticipated to drive the market growth over the forecast period.

Data-Driven Decision Making (DDDM) helps in addressing the problem of unstructured data analysis and enables organizations to make more informed decisions with transparency and accountability. It also offers increased capacity to scale changes and flexibility in modeling change scenarios, among others. For instance, Google has created a People Analytics Department that supports the organization in making decisions with fact-based data. In this department, Google has created a group called Information Lab, which includes social scientists who conduct innovative research that has changed the organizational practice within the company.

The growing adoption of social media analytics in BDaaS to monitor consumer preferences and offer personalization insights is anticipated to propel market growth over the forecast period. Moreover, the increasing importance of sentiment analysis has also encouraged enterprises to integrate social media into their business processes. This has resulted in a large amount of data being stored by organizations, which in turn, is expected to propel market growth over the forecast period.

Key market players are focusing on mergers & acquisitions to enhance their regional presence and target new customers across the globe. However, increasing privacy concerns coupled with the rapidly rising purchase costs and costs for installation, deployment, and maintenance may hamper the market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/big-data-as-a-service-bdaas-market

Big Data Market Report Highlights:

The global market is anticipated to witness substantial growth owing to the increasing requirement of structured data for analysis and long-term data retention over the forecast period
The hybrid cloud segment is expected to register a CAGR exceeding 40% over the forecast period owing to benefits it provides in terms of cost efficiency, scalability, flexibility, and security
Hadoop-as-a-Service emerged as the dominant segment in 2018 owing to the large number of companies frequently accessing virtual storage and analysis of data on the cloud across the globe
North America captured a significant share in the global BDaaS market owing to the increasing government funding to support big data projects in the U.S. and high penetration of e-commerce in the region
The APAC market is estimated to showcase significant growth over the forecast period owing to the high rate of penetration of smartphones and internet users in Brazil and Mexico
Key market players operating in the Big Data as a Service market, including Amazon Inc., IBM Corporation, and Dell Inc., are focused on expanding their market presence and targeting new customers through mergers and acquisitions.

Supply Chain Analytics Market Size Worth $9,875.2 Million By 2025

The global supply chain analytics market size is expected to reach USD 9,875.2 million by 2025, registering a CAGR of 16.4% from 2019 to 2025, according to a new study by Grand View Research, Inc. The growing need to manage a large amount of business data and use derived insights is triggering the demand for supply chain analytics. The increasing awareness among enterprises regarding the benefits offered by supply chain analytics is instrumental in accelerating the demand for analytic solutions in order to improve perceptibility levels across the entire supply chain enablers.

Supply chain analytics solutions can help enterprises achieve growth, enhance profitability, and increase market shares by utilizing the derived insights for making strategic decisions. These solutions can also offer a holistic view of the supply chain and help in enhancing sustainability, reducing inventory cost, and accelerating the time-to-market for products in the long run.

Factors such as shortening product life cycles, low supply chain visibility, ineffective supplier networks, elevated warehousing costs, redundant forecasts, and fluctuating customer demands are also necessitating supply chain optimization, thereby driving the growth of the market.

Improved outcomes and cost-effectiveness of the supply chain management resulting from the adoption of supply chain analytics is expected to encourage the adoption of supply chain analytics solutions in various end-use applications, such as retail & consumer goods, healthcare, manufacturing, among others. The ability of supply chain analytics to enable effective and efficient management of end-to-end supply processes is expected to propel the growth of the supply chain analytics solution over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/the-global-supply-chain-analytics-market

Further key findings from the study suggest:

The sales & operations analytics segment generated the highest revenue in 2018 owing to the growing use of machine learning in supply chain analytics solution to dissect and aggregate data and produce predictive, descriptive, and prescriptive insights.
The professional segment is dominate the market and maintain its dominance over the forecast period. The growing automation of professional services due to the adoption of big data and analytics coupled with the increasing demand for improved mobility among service consultants is expected to propel the growth of the segment.
Cloud deployment is anticipated to register the highest CAGR of 17.9% from 2019 to 2025. The cloud-based solutions allow businesses to access data across connected devices at any point which increase scope for customization and enable implementation of analytical tool across multiple business channel.
The large enterprise segment dominated the market in 2018 and is expected to maintain its dominance over the forecast period. This dominance can be attributed to rising demand for robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making.
The high technology product segment is expected to grow at the highest CAGR of 19.7% over the forecast period. This growth can be attributed to increasing demand for advanced technology products and increasing import and export of high technology products worldwide.
North America is expected to continue its dominance the market over the forecast period leveraging the presence of a large number of supply chain analytics service providers in the region.
Accenture PLC, Aera Technology, Birst, Inc., Capgemini SA, Genpact Limited, IBM, JDA Software Group, Inc., Kinaxis, Lockheed Martin Corporation, Maersk Group, and Manhattan Associates, Inc. are some of the key market incumbents of the supply chain analytics market