Cloud deployment to dominate the Predictive Analytics and Maintenance In Supply Chain Market through 2026
Increasing efforts to reduce
the downtime and other operational costs and the growing competition among
market players is expected to drive the demand for global predictive analytics
and maintenance in supply chain market in forecast period.
According to TechSci Research report, “Global
Predictive Analytics And Maintenance In Supply Chain Market By Component
(Solutions, Services (Managed Services, Professional Services)) By Deployment
(On-Premises, Cloud) By Application (Inventory Management, Predictive
Maintenance, Predictive Route Planning, Demand Forecasting, Others) By
Organisation Size (Large Enterprises, SMEs) By End-Use Industry (Retail,
Manufacturing, Aviation, Healthcare, Energy and Power, Others) By Company, By
Region, Forecast & Opportunities, 2026”, the global predictive
analytics and maintenance in supply chain market are expected to witness
significant growth in the forecast period. In predictive analytics and
maintenance in supply chain, the structured and unstructured data is analyzed
to predict the market uncertainties Surge in the use of emerging technologies
to gain informed insights and the need of organizations to lower the cost and
time. The management of the asset of an organization is a crucial step that is
required in all the verticals. Organizations are using predictive analytics
technology in the supply chain for various works including supply chain design,
inventory management, demand forecasting, predictive route planning, predictive
maintenance, amongst others to optimize the flow in the supply chain.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected several
countries adversely. Coronavirus-affected patients started suffering from
shortness of breath along with coughing and sneezing. Leading authorities
around the globe imposed lockdown restrictions and released a set of
precautionary measures to contain the spread of novel coronavirus. Companies
provided the facility of work from home to employees and started taking
conference meetings and calls with the help of online platforms. The use of
e-commerce websites and mobile applications witnessed strong growth during this
period. The restrictions imposed on the import and export activities adversely
impacted the predictive analysis and maintenance in supply chain market growth
during this period.
However, lack of skilled professionals may restrain
the growth of the global predictive analytics and maintenance in supply chain
market growth.
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Global
predictive analytics and maintenance in supply chain market are segmented into
component, deployment, application, end-use industry, regional distribution,
and company. Based on the application, the market can be divided into inventory
management, predictive maintenance, predictive route planning, demand
forecasting, and others. The predictive maintenance segment is expected to
witness growth in the forecast period, 2022-2026. Organizations are using
advanced technologies such as artificial intelligence and machine learning
technology to achieve speed, precision over the traditional business tools and
aids in maintaining the supply chain smoothly. With the help of predictive
maintenance, enterprises can make smart decisions and can eliminate the
occurrence of wastage of time and resources to a greater extent. Artificial
intelligence IoT solutions enable organizations to predict the occurrence of
equipment failure ahead of time and thereby assist the organizations to prepare
themselves accordingly.
IBM
Corporation, Microsoft Corporation, SAP SE, General Electric Company, Schneider
Electric SE, Google LLC, Oracle Corporation, Hewlett Packard Enterprises Co.,
SAS Institute Inc., TIBCO Software Inc., Siemens AG, Robert Bosch GmbH, Cisco
Systems, Inc., Dell, Inc., Intel Corporation are the leading players operating
in global predictive analytics and maintenance in supply chain market. Service
Providers are increasingly focusing on research and development process to fuel
higher growth in the market. To meet evolving customer demand with respect to
better efficiency and durability, several predictive analytics and maintenance
in supply chain providers are coming up with their technologically advanced
offerings.
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“The
growing advancements in information technologies and improved computational
efficiencies are accelerating the implementation of big data analytics and
blockchain technology for efficiently tracking the supply chain. The rise in
the requirements for the analysis of customer behavior analysis and the adoption
of demand forecasting facilities by the market players to keep themselves
prepared for any change uncertainty in the market is expected to propel the
predictive analytics and maintenance in supply chain market growth till 2026” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Predictive
Analytics And Maintenance In Supply Chain Market By Component (Solutions,
Services (Managed Services, Professional Services)) By Deployment (On-Premises,
Cloud) By Application (Inventory Management, Predictive Maintenance, Predictive
Route Planning, Demand Forecasting, Others) By Organisation Size (Large
Enterprises, SMEs) By End-Use Industry (Retail, Manufacturing, Aviation, Healthcare,
Energy and Power, Others) By Company, By Region, Forecast & Opportunities,
2026” has evaluated the future growth potential of global predictive
analytics and maintenance in supply chain market and provided statistics & information
on market size, shares, structure and future market growth. The report intends
to provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
of global predictive analytics and maintenance in supply chain market
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