DUBLIN--(BUSINESS WIRE)--The "Supply Chain Security Market by Hardware (IoT Sensors, RFID Tags & Readers, GPS Trackers), Software (Risk Management, Threat Intelligence, Blockchain-Based Solutions), Security Type (Data Locality & Protection, Fraud Prevention) - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global supply chain security market size is estimated to grow from USD 2.52 Billion in 2024 to USD 5.14 Billion by 2030 at a compound annual growth rate (CAGR) of 12.6% during the forecast period.
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the supply chain security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The increasing need for robust, scalable, and cost-effective solutions to address vulnerabilities, ensure transparency, and prevent disruptions is driving the Supply Chain Security Market. The rapid digitalization of supply chains and adoption of cloud-based platforms have further strengthened the requirement for advanced security measures.
Certain challenges prevailing in the market such as high implementation costs, integration complexities, and a lack of awareness, third-party dependencies and limited expertise are overcome by customized solutions, education initiatives, and cost-effective innovation is driving the growth in this market. Higher focus on data visibility, compliance, and risk management ensures that businesses have secure, efficient, and resilient supply chains for the changing landscape of global operations.
The study includes an in-depth competitive analysis of the key players in the supply chain security market, their company profiles, recent developments, and key market strategies.
Major vendors in the supply chain security market include IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (Netherlands), Testo (Germany), Orbcomm (US), Sensitech (US), Elpro (Switzerland), Rotronic (Switzerland), Berlinger & CO. (Switzerland), Monnit (US), Cold Chain Technolgies (US), Logtag Recorders (New Zealand), Dickson (US), Signatrol (UK), Hanwell Solutions (UK), Controlant (Iceland), Roambee (US), Omega Compliance (China), Tagbox Solutions (India), C2A Security (Israel), Safetraces (US), Tive (US), Altana AI (US), Fourkites (US).
By offering, Hardware components accounts for a larger market size during the forecast period
The Hardware segment is expected to hold the largest market size in supply chain security during the forecast period. This is because it has a critical role in facilitating physical and digital security solutions. Hardware pieces, such as RFID tags, sensors, IoT gadgets, GPS systems, and biometric systems, present real-time tracking, monitoring, and authentication for any assets to ensure the supply chains' security and integrity. Together these devices are critical in collecting data across multiple touchpoints, increasing visibility, and identifying vulnerabilities.
Additionally, the increasing adoption of IoT and smart tracking in various industrial segments, including logistics and manufacturing and health-care units, boosts the demand for effective hardware systems. It supports the secure handling of commodities in the physical realm and its resistance to counterfeit can curb unapproved access and handle unauthorised changes, and also infrastructure, investment in smart warehouses, along with advanced transportation, pushes forward hardware growth as more end-to-end supply chain activities shift across geographies and continents.
By region, Asia-Pacific accounts for the highest CAGR during the forecast period.
Major drivers in Asia-Pacific region in supply chain security market are the rapid industrialization, economic growth, and growing trade activities. Major countries including China, India, Japan, and South Korea have emerged as hubs for manufacturing and logistics. Such giant-scale operations have prompted advanced security solutions in managing these large-scale activities. Similarly, the region has fast adopted technology for Industry 4.0, including IoT, AI, and blockchain, where traceability, efficiency, and security in supply chains is being enhanced.
Governments are also implementing tighter regulations on traceability as well as cybersecurity in fields such as pharmaceuticals, automobiles, and electronics with an intention to fight counterfeiting and unauthorized distribution. Together, it has accelerated the need for developing secure logistics networks e-commerce. Similarly, Technological developments are driven by investment in infrastructures, from smart warehouse systems to transportation systems. Digitalization, regulatiory compliance, and dependency on global trade create the facilitative environment for growth in the Asia-Pacific supply chain security.
The report provides insights on the following pointers:
- Analysis of key drivers (Growing data volumes growing data volumes are driving supply chain security, Rising incidences of cyberattacks across supply chains, Growing need for supply chain transparency, Upsurge and innovation in advanced technologies, Regulatory compliance and stringent government mandates); Restraints (Budgetary constraints among small and emerging startups in developing economies, Shortage of skilled professionals); Opportunities (Rapid growth in the e-commerce sector, Advancing risk prediction and management in supply chains, Increasing IoT devices in the supply chain) and Challenges (Limited awareness about supply chain security among organizations, Third-Party Risks and Insider Threats).
- Product Development/Innovation: Detailed insights on upcoming technologies, research development activities, new products, and service launches in the supply chain security market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the supply chain security market across varied regions.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the supply chain security market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (Netherlands), Testo (Germany), Orbcomm (US), Sensitech (US), Elpro (Switzerland), Rotronic (Switzerland), Berlinger & CO. (Switzerland) among others, in the supply chain security market strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 338 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $2.52 Billion |
| Forecasted Market Value (USD) by 2030 | $5.14 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Companies Featured
- IBM
- Emerson
- Oracle
- Nxp Semiconductors
- Testo
- Orbcomm
- Sensitech
- Elpro
- Rotronic
- Berlinger & Co. AG
- Monnit
- Cold Chain Technologies
- Logtag Recorders
- Dickson
- Signatrol
- Hanwell Solutions
- Controlant
- Roambee
- Omega Compliance
- Tagbox Solutions
- C2A Security
- Safetraces
- Tive
- Altana AI
- Fourkites
For more information about this report visit https://www.researchandmarkets.com/r/pvccaa
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