Global Supply Chain Security Market Growth, Key Players, Covid-19 Impact Analysis and Forecasts to 2026

PUNE, MAHARASHTRA, INDIA, September 27, 2021 / — The adoption of supply chain solutions in many industries has increased the demand for these services in the last few months. As a result, as per the research report, the global supply chain security market will experience a growth at a CAGR of 6.3% and is estimated to grow from USD 903 million in 2021 to USD 1,227 million during the forecast period.

The supply chain security market is thriving, and the research report states that the vital factor behind the sudden rise in the supply chain market is an extreme rivalry. Immediate response services, 24/7 protection against rising sophisticated architectures, SOCs manned by experts are vital supply chain security services.

Pandemic led to a rise in demand for supply chain solutions during the estimated period.
The Covid- 19 pandemic has impacted every segment of businesses and individuals. Furthermore, in this pandemic, the dependency on online training and business has increased, leading to the threat of cyberattacks. Supply chain security is provided through professional security analysts, which helps to avoid and protect such cyberattacks.

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Supply chain security suppliers offer personalized subscriptions and professional services to guide users in deploying supply chain security solutions and easy planning. It also includes services like training and education, support, and maintaining the company’s software and hardware supply chain security.

Online business to grow at the highest CAGR.

The advent of Online and e-commerce businesses on a large scale has mainly been targets of cyberattacks. Mostly these attacks are due to poor website performance, customer data, and lost revenue. The increasing demand for e-commerce, retailing, and mobility has made it mandatory for retailers to have top-notch visibility in the entire supply chain and conduct seamless operations.

Adopting supply chain security solutions and services can provide vital visibility and help track the entire process that ensures profitability and agility by catering to the high demands of customers. To safeguard and run seamless business operations, the wholesalers and retailers update supply chain security systems by embedding retail cloud solutions. These solutions benefit businesses from scalability, improved efficiency, expenditure, integrations, robust security, data accessibility, and reduced capital.

Adoption of supply chain among small and medium enterprises

Small and medium enterprises (SMEs) are vigorously adopting Cloud-based supply chain solutions that help to boost the supply chain market. These supply chain solution services help improve business performance, enhance security, and intensify productivity at an economical cost.

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Government and official authorities are also taking the great initiative to promote supply chain security solutions among small and medium enterprises. Unfortunately, the covid 19 pandemic has increased the risk of cyberattacks of SMEs as they don’t have robust security solutions to protect their business. However, many vendors have created supply chain security solutions as per the requirement of the enterprises.

Asia Pacific region to witness highest growth rate during estimated Period.

The supply chain market Asia Pacific region is estimated to grow at the highest CAGR during the forecasted period. This is because APAC has gained and witnessed the dynamic adoption of new supply chain technologies. Countries in APAC regions include emerging economies such as India, China, Japan, and the rest of the region. These countries are predominantly investing in supply chain projects, which boosts the supply chain market by 2026.

The expansion of IoT in the APAC region has increased fraud and security concerns. In addition, businesses operating in this region are adopting supply chain technologies that provide robust security and low fraud risk. Organizations operating in this region would benefit from flexible financial conditions, growing digitalization, industrialization policies, the political transformation that affects the business community, and boost supply chain market growth in upcoming years.

• By Company Type: Tier 1 – 24%, Tier 2 – 20%, and Tier 3 – 56%
• By Designation: C-level – 38%, D-level – 28%, and Others – 34%
• By Region: North America – 65%, Europe – 20%, Asia Pacific – 12%, RoW – 3%

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The research report includes market dynamics, potential, and key players that includes ELPRO (Switzerland), Rotronic (Switzerland), Emerson (US), Sensitech (US), ORBCOMM (US), Testo (Germany), Qingdao Haier Biomedical (China), Monnit Corporation (US), Berlinger & Co. AG (Switzerland), Signatrol (US), IBM (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Omega Compliance (China), Dickson (US), Hangzhou Zeda Instruments (China), Oceasoft (France), Hanwell Solutions (UK), Controlant (Iceland), Tagbox Solutions (India), FreshSurety (US), Astrona Biotechnologies (US), Safetraces (US), MOST (Sweden), and Tive (US).

Research Coverage

The research study provides extensive coverage of the supply chain security market size across all industries and businesses. In addition, it offers detailed insights into market size and growth depending upon various segments like security type, component, organization size, region, vertical, and deployment mode.

The research report also provides an in-depth analysis of key players in the market, including their company profiles, business offerings, recent development, market strategies, and critical observation related to the product.

Ganesh Pardeshi
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