The global supply chain risk management market was valued at US$ 1078.9 million in 2017, and is projected to reach US$ 3237.1 million by 2026, exhibiting a CAGR of 13.4% over the forecast period, according to Global Supply Chain Risk Management Market Report, by Solution (Supplier Risk Management Solutions, Sustainable Procurement Solutions, and Logistic Management Solutions), by Services (Managed Services, Consulting Services, and Training Services), by Platform (Dashboard and Reporting, Surveys and Self-Assessment, Workflow and Notification, and Risk Identification), by End-use Industry (Government, Manufacturing, Pharmaceuticals, Oil and Gas, Transportation and Logistics, and Food and Beverages), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
Supply chain risk management is implementation of strategies to manage risk in the supply chain based on risk assessment for reducing vulnerability and ensuring continuity. A Supply chain risk management platform involves the identification and mitigation of all types of risks. Supply chain risk management platform involves four process: identification, assessment, controlling, and monitoring of the supply chain risks.
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Browse 60 market data tables* and 40 figures* on "Global Supply Chain Risk Management Market” - Global forecast to 2026.
Key Trends and Analysis of the Global Supply Chain Risk Management Market:
- Among solution type, sustainable procurement solution segment is expected to witness the highest growth rate during the forecast period. This is owing to increasing demand from manufacturing companies for managing the procurement risks such as low quality of supplied raw material, rising costs, delay in supplying material, sustainability, and lack of expertise.
- Among platform type, risk identification platform segment is expected to witness the highest growth rate over the forecast period. This is owing to increasing demand for risk identification platform for measuring or accessing the effective allocation of resources, the probability of success of new product introductions, and market conditions. Moreover, risk identification platform calculates the risk associated with each area and activities in the supply chain and indicates degree of risk associated in targeted area or process.
Key Takeaways of the Market:
- North America holds dominant position in the global supply chain risk management market and is expected to witness the highest growth over the forecast period. Increasing utilization of supply chain risk management platform by the government agencies of major economies of the region is the major factor contributing to growth of North America supply chain risk management market. Based on ’ estimations, North America supply chain risk management industry is estimated to be valued at US$ 457.73 billion in 2018, and it is projected to witness a CAGR of 12.5% during the forecast period. This is owing to increasing demand for supply chain risk management platform in different end-use industries such as manufacturing, logistics and transport, pharmaceuticals, oil and gas, and food & beverages and increasing demand for supply chain risk management platform from the government sector.
- The U.S. holds dominant position in North U.S. supply chain risk management market. The country is expected to witness the highest CAGR during the forecast period, owing to increasing adoption of supply chain risk management platform from the U.S. Government. For instance, the U.S. Department of Defense (DoD) and other government agencies are focusing on implementing supply chain risk management solutions to counter threats to supply chains in the country. Moreover, the U.S. government initiated Federal Acquisition Supply Chain Security Act of 2018 (FASCSA) to start use of supply chain risk management solutions in all its federal agencies.
- Some of the major players operating in the global supply chain risk management market include, Avetta, LLC, Cura Software Solutions, DHL International GmbH, GEP, LogicManager, Inc., Marsh LLC, MetricStream Inc., SZ DJI Technology Co. Ltd., SAP Ariba Inc., Software AG, and The AnyLogic Company, and others.