Supply Chain Risk Management Market Size Was Valued at USD 3.46 Billion in 2023, and is Projected to Reach USD 7.68 Billion by 2032, Growing at a CAGR of 9.26% From 2024-2032.
The SCRM Market is becoming more popular as companies are starting to understand the significance of reducing risks within their supply chains. As supply chains become increasingly complex and intertwined worldwide, companies encounter various risks, such as natural disasters, political conflicts, cyberattacks, and supplier bankruptcies. SCRM solutions aid organizations in detecting, evaluating, and addressing these risks using continual monitoring, predictive analysis, and risk reduction approaches. Increasingly, industries such as manufacturing, retail, and healthcare are fueling the market due to a rising need for transparency, resilience, and sustainability in supply chains. The COVID-19 crisis exposed weaknesses in worldwide supply chains, ultimately speeding up the implementation of risk management techniques and plans. Large corporations with intricate supply chains make North America and Europe the main players in the market, while Asia-Pacific is becoming a significant growth region due to its strong manufacturing foundation. Some major hurdles are the expensive implementation of SCRM solutions and the requirement for improved data integration. Nevertheless, market growth is anticipated to be driven in the future by the growing significance of strong supply chains amidst global uncertainties.
Players Covered in Supply Chain Risk Management Market are:
Resilinc (United States), Avetta (United States), Riskex (United Kingdom), Dhl Resilience360 (Germany), Oracle Corporation (United States), Sap Se (Germany), Sas Institute Inc. (United States), Kinaxis Inc. (Canada), Everstream Analytics (Canada), Cloudleaf (United States), Quantzig (United States), Logicmanager (United States), Anaplan Inc. (United States), Infor (United States), Coupa Software Inc. (United States), Ibm Corporation (United States), Qad Inc. (United States), Savi Technology (United States), E2open (United States), Amber Road (United States), Fourkites (United States), Jda Software (United States) And Other Major Players
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The global Supply Chain Risk Management market research investigates the market in-depth and offers a comprehensive analysis of the major growth determinants, Supply Chain Risk Management market share, current trends, key players, and their future predictions. In addition, market demand and supply, each geographical region's growth rate, and market potential are all included in the Supply Chain Risk Management Market study. Raw materials, marketing channels, client surveys, industry trends and proposals, CAGR status, product scope, Supply Chain Risk Management market trends, major leading countries/regions, market risk, and market driving force are all included in the market research. The market prediction was based on a thorough market investigation completed by several industry experts.
Drivers in the Supply Chain Risk Management Market:
The main factor driving the supply chain risk management market is the rising complexity of global supply chains and the increasing recognition of vulnerabilities to disruptions like natural disasters, geopolitical tensions, and cyberattacks. Companies are focusing on implementing risk management strategies to guarantee the uninterrupted operation of their supply chains and minimize potential monetary setbacks. The COVID-19 pandemic revealed how delicate global supply chains are, increasing the need for proactive risk management strategies. Furthermore, the emergence of digital supply chains and the integration of technologies such as artificial intelligence (AI) and blockchain have resulted in new obstacles, leading to the need for extensive risk management protocols.
Segmentation Analysis of the Supply Chain Risk Management Market
Supply Chain Risk Management Market Segmented based on component, enterprise size, deployment, and end-use industry.
By Component
- Solution
- Services
By Deployment
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprise
- Small and Medium Enterprise
By End Use Industry
- Retail and Consumer Goods
- Healthcare and Pharmaceuticals
- Manufacturing
- Food and Beverages
- Transportation and Logistics
- Automotive
Opportunities in the Supply Chain Risk Management Market:
Companies that provide advanced supply chain risk management solutions have great opportunities, especially if they use AI, predictive analytics, and real-time data to predict and reduce risks. The rising usage of cloud-based supply chain platforms offers companies an opportunity to create integrated risk management solutions that offer complete visibility throughout the process. With a focus on sustainability in businesses, there is an opportunity to provide solutions that tackle environmental and social risks in the supply chain. Entering into developing markets, where the modernization of supply chains is speeding up, presents additional growth potential for providers of risk management.
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By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Reasons to Purchase this Market Report:
- Market forecast analysis through recent trends and SWOT analysis
- Supply Chain Risk Management Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
- Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
- Supply Chain Risk Management Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
- Competitive environment related to the Supply Chain Risk Management market share for key players, along with new projects and strategies that players have adopted over the past five years
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