The Latest Global Supply Chain Industry Statistics Explained
The value of the global supply chain market was $15.85 billion in 2020.
The statistic indicates that the total value of the global supply chain market was $15.85 billion in 2020. This figure represents the sum of all economic activities related to the flow of goods and services, information, and finances within the global supply chain industry during that year. The size of the market reflects the scale and significance of supply chain operations on a global scale, demonstrating the vast network of activities involved in sourcing, producing, and delivering products and services to meet consumer demand worldwide. This statistic serves as a valuable insight into the economic impact and importance of the supply chain industry in facilitating global trade and commerce.
The global supply chain analytics market size is expected to reach $16.83 billion by 2027.
The statistic indicates that the global supply chain analytics market is projected to grow and reach a value of $16.83 billion by the year 2027. This growth in market size suggests an increasing demand for analytics solutions and tools that cater to supply chain management processes across various industries worldwide. Supply chain analytics play a crucial role in optimizing operations, enhancing efficiency, reducing costs, and improving decision-making within supply chains. The projected market size signifies a growing recognition of the importance of data-driven insights and advanced analytics in managing and improving the complex networks of suppliers, manufacturers, distributors, and customers that make up modern global supply chains.
Global spending on blockchain solutions in the supply chain was predicted to reach $335 million in 2020.
This statistic indicates the projected total expenditure on blockchain technology solutions specifically targeted for supply chain management worldwide in the year 2020, estimated to amount to $335 million. This suggests a growing interest and investment in utilizing blockchain technology to enhance transparency, efficiency, and security within supply chains across various industries. The increasing adoption of blockchain in supply chain management is likely driven by the potential to streamline processes, reduce fraud, and optimize tracking and traceability of goods through a decentralized and tamper-resistant system. The figure serves as a benchmark for the scale of financial commitment and prioritization of blockchain solutions within the supply chain sector during the specified time period.
More than 65% of businesses consider environmental, social, and corporate governance in their supply chain management.
This statistic indicates that a significant majority of businesses, specifically more than 65%, prioritize environmental, social, and corporate governance factors when managing their supply chains. This demonstrates a growing trend towards sustainability and ethical practices within the business world. By considering these aspects in supply chain management, companies are likely making efforts to reduce their environmental impact, enhance social responsibility, and ensure ethical business practices throughout their operations. This statistic suggests that an increasing number of businesses are recognizing the importance of integrating sustainability and ethical considerations into their supply chain strategies to create a more responsible and resilient business model.
E-commerce transactions are predicted to represent more than 24% of global retail sales by 2023.
The statistic indicates that e-commerce transactions, which involve buying and selling goods or services online, are forecasted to account for over 24% of total retail sales worldwide by the year 2023. This suggests a significant increase in the proportion of retail sales conducted through online platforms compared to traditional brick-and-mortar stores. The prediction reflects the growing trend of consumers turning to the convenience and accessibility of e-commerce for their shopping needs, driven by factors such as technological advancements, changing consumer preferences, and the impact of global events like the COVID-19 pandemic. This statistic highlights the continued shift towards digital shopping channels and underscores the importance for businesses to adapt and invest in their e-commerce capabilities to remain competitive in the evolving retail landscape.
85% of global supply chains experienced some form of disruption in 2020.
The statistic stating that 85% of global supply chains experienced some form of disruption in 2020 highlights the widespread impact of the COVID-19 pandemic on global trade and logistics. The disruptions may include delays in production, transportation, and distribution, as well as shortages of materials and goods due to lockdowns, travel restrictions, and fluctuating consumer demand. These disruptions have led to significant challenges for companies across industries in managing inventory, meeting customer demands, and overall supply chain resilience. The statistic underscores the necessity for organizations to adapt and strengthen their supply chain strategies to enhance flexibility, visibility, and risk mitigation in the face of unforeseen events.
The global digital supply chain market is projected to grow from USD 11.2 billion in 2020 to USD 23.2 billion by 2025.
The statistic indicates a significant projected growth in the global digital supply chain market from USD 11.2 billion in 2020 to USD 23.2 billion by 2025. This growth is a clear indicator of the increasing adoption and importance of digital technologies within supply chain management. The doubling of the market size over a five-year period suggests a strong demand for digital solutions to optimize and streamline supply chain operations across industries. This growth trend may be driven by factors such as the need for improved efficiency, visibility, and agility in supply chain processes, as well as advancements in technologies like artificial intelligence, Internet of Things, and blockchain that can transform how supply chains are managed and operated.
The number of warehousing and storage establishments in the U.S. increased by 6.8% in 2019.
The statistic stating that the number of warehousing and storage establishments in the U.S. increased by 6.8% in 2019 indicates a notable growth trend in this industry over the specified time period. This increase could stem from several factors such as the expanding e-commerce market, globalization of supply chains, or increased demand for storage services due to growth in various sectors. This growth rate suggests a positive outlook for the warehousing and storage industry, potentially reflecting a healthy economic environment and providing opportunities for employment and investment within this sector. Tracking such statistics can provide valuable insights into the overall health and performance of the economy and specific industries.
Approximately 90% of companies fail to routinely measure supply chain risk performance.
The statistic stating that approximately 90% of companies fail to routinely measure supply chain risk performance highlights a significant gap in risk management practices within the business world. By neglecting to monitor and assess supply chain risk factors on a regular basis, these companies are leaving themselves vulnerable to disruptions and inefficiencies that can have far-reaching consequences. This lack of proactive risk measurement hinders their ability to identify and mitigate potential threats, optimize operational processes, and ultimately protect their bottom line. Incorporating regular assessments of supply chain risk performance is crucial for companies to enhance their resilience, improve decision-making, and maintain a competitive edge in today’s dynamic and unpredictable business environment.
75% of businesses aim to increase their supply chain sustainability over the next five years.
The statistic ‘75% of businesses aim to increase their supply chain sustainability over the next five years’ indicates that a significant majority of businesses are prioritizing sustainability initiatives within their supply chains. This implies a growing awareness and recognition of the importance of sustainability practices in business operations. By aiming to improve sustainability in their supply chains, these businesses are likely seeking to reduce environmental impact, enhance operational efficiency, and meet the evolving expectations of consumers and stakeholders for more responsible business practices. The statistic suggests a shift towards a more sustainable and socially responsible approach to business operations, highlighting the increasing importance of sustainability as a key strategic focus area for organizations in the coming years.
More than half of supply chain companies are planning to upgrade from manual to automated systems by 2023.
The statistic asserts that a majority of supply chain companies, specifically more than half, are intending to transition from relying on manual processes to implementing automated systems by the year 2023. This indicates a clear trend and shift towards leveraging technology to streamline and enhance their supply chain operations. Moving to automated systems can bring about numerous benefits such as increased efficiency, accuracy, and cost-effectiveness, enabling companies to better meet the demands of an ever-evolving market landscape. Therefore, this statistic highlights the ongoing digital transformation within the supply chain industry as organizations strive to stay competitive and adapt to the demands of the modern business environment.
Asia-Pacific is expected to have the highest CAGR in Supply Chain Analytics markets during 2020-2027.
This statistic suggests that the Asia-Pacific region is forecasted to experience the highest Compound Annual Growth Rate (CAGR) in the Supply Chain Analytics market between 2020 and 2027. This projection indicates that the adoption and implementation of supply chain analytics solutions in the Asia-Pacific region are likely to grow significantly faster compared to other regions during this period. Factors such as increasing awareness of the benefits of supply chain analytics, technological advancements, and a growing focus on optimizing supply chain operations and capabilities in the region may contribute to the higher CAGR. This trend highlights the emerging importance and potential opportunities for businesses and industries in the Asia-Pacific region to leverage supply chain analytics for improving efficiency, decision-making, and overall performance in their supply chain operations.
The global supply chain management market was worth $15.2 billion in 2020.
The statistic stating that the global supply chain management market was worth $15.2 billion in 2020 indicates the total value of all goods and services related to supply chain management solutions and technologies globally during that year. This figure reflects the substantial investment made by businesses and organizations in enhancing and optimizing their supply chain operations to improve efficiency, reduce costs, and mitigate risks. The significant market size highlights the critical importance of supply chain management in the modern business environment, where companies are increasingly focusing on streamlining their operations and responding to dynamic market conditions to gain a competitive edge.
73% of businesses report experiencing a detrimental supply chain disruption in the past year.
The statistic ‘73% of businesses report experiencing a detrimental supply chain disruption in the past year’ indicates that a significant majority of businesses have encountered challenges in their supply chains that have had negative impacts on their operations within the past year. This high percentage suggests that supply chain disruptions are a prevalent issue that many businesses are grappling with. Such disruptions could include delays in receiving goods, shortages of key components, transportation disruptions, or other factors that impede the smooth flow of goods and materials through the supply chain. This statistic underscores the importance for businesses to assess and potentially strengthen their supply chain resilience in order to mitigate the risks associated with disruptions and ensure continuity in their operations.
The global logistics market size is expected to reach $12.256 trillion by 2022.
The statistic that the global logistics market size is expected to reach $12.256 trillion by 2022 indicates the projected total value of goods and services related to the transportation, storage, and distribution of products worldwide. This forecast suggests a substantial growth in the logistics sector, driven by factors such as increasing globalization, e-commerce expansion, and advancements in technology leading to more efficient supply chain management. The significant rise in market size highlights the crucial role of logistics in supporting global trade and economic development, with opportunities for businesses to capitalize on emerging trends and market demands to achieve strategic growth and competitiveness in the logistics industry.
It is estimated that the global supply chain analytics market will grow at a CAGR of 15.8% from 2021 to 2028.
This statistic indicates that the global supply chain analytics market is expected to experience a Compound Annual Growth Rate (CAGR) of 15.8% between 2021 and 2028. This implies a steady and significant annual growth in the market size over the specified period. Such growth rate suggests a rapidly expanding market demand for analytics solutions that can help optimize and improve various aspects of supply chain operations across industries worldwide. Factors such as increasing adoption of advanced technologies, rising importance of data-driven decision-making, and the need for enhanced efficiency and agility in supply chain management are likely to be driving forces behind this projected growth trajectory.
The pharmaceutical supply chain market is expected to reach a value of $2.7 trillion by 2026.
The statistic reveals that there is a significant growth trend projected for the pharmaceutical supply chain market, with an expected value of $2.7 trillion by the year 2026. This suggests a substantial increase in the overall size and economic activity within the pharmaceutical supply chain sector. Factors driving this growth may include advancements in technology, increased demand for pharmaceutical products globally, regulatory changes, and evolving healthcare needs. The projected value indicates the substantial economic impact and opportunities within the pharmaceutical supply chain industry, highlighting the importance of efficient and effective management of the supply chain to meet the growing demand for pharmaceutical products worldwide.
Conclusion
By analyzing the various statistics and trends within the global supply chain industry, it is clear that this sector plays a crucial role in driving economies and connecting businesses worldwide. From the impacts of technological advancements to the challenges brought on by global events, it is evident that supply chains are dynamic and ever-evolving. Understanding and leveraging these statistics can help businesses navigate the complexities of supply chain management and stay competitive in today’s rapidly changing marketplace.
References
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