Upcoming Trends And Drivers Of The Supply Chain Security Market

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, June 24, 2024 /EINPresswire.com/ -- Supply chain security involves protecting assets, processes, and infrastructure within supply chains from risks and vulnerabilities that could jeopardize their integrity and reliability. It encompasses measures to ensure the secure flow of goods, information, and resources from sourcing to delivery, crucial for maintaining operational continuity and mitigating threats.

Market Size and Growth
The supply chain security market has experienced rapid growth, projected to increase from $1.76 billion in 2023 to $1.95 billion in 2024, achieving a compound annual growth rate (CAGR) of 10.8%. This growth is driven by escalating cybersecurity threats, stringent regulatory requirements, and increasing complexities in global supply chains.

The market is expected to continue expanding, reaching $2.95 billion by 2028, with a CAGR of 11%. Factors contributing to this growth include the need for counterfeit prevention, sustainability initiatives, and resilience planning, alongside the rapid adoption of cloud services and the exponential growth of e-commerce.

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Supply Chain Security Market Major Players and Market Trends
Key players such as IBM, Cisco Systems, and Oracle Corporation are focusing on innovative solutions to enhance supply chain security. For instance, solutions like Spectra Assure by ReversingLabs are leveraging advanced technologies to provide robust protection against software supply chain attacks and enhance risk analysis for enterprise software buyers.

Key Trends Shaping the Market
Emerging trends in the supply chain security market include the adoption of blockchain for transparent supply chain management, increased use of IoT devices and sensors for real-time monitoring, and the integration of artificial intelligence and machine learning for predictive analytics. Collaborative security approaches are also gaining traction to address evolving threats effectively.

Supply Chain Security Market Segments
The supply chain security market is segmented based on:
• Component: Hardware, Software, Services
• Security Type: Data Protection, Data Visibility And Governance, Other Security Types
• Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
• Vertical: Healthcare And Pharmaceuticals, Retail And E-commerce, Automotive, Transportation And Logistics, Manufacturing, Other Verticals

Regional Insights: North America Leads, Asia-Pacific Shows Fastest Growth
North America held the largest share of the supply chain security market in 2023, driven by technological advancements and stringent regulatory frameworks. Asia-Pacific is anticipated to witness the highest growth rate during the forecast period, supported by increasing investments in cybersecurity and digital transformation across various industries.

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Supply Chain Security Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Supply Chain Security Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on supply chain security market size, supply chain security market drivers and trends, supply chain security market major players, competitors' revenues, market positioning, and market growth across geographies. The supply chain security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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