GVR Report cover Supply Chain Security Market Size, Share & Trends Report

Supply Chain Security Market Size, Share & Trends Analysis Report By Enterprise Size, By Component (Software), By Vertical (Retail & E-commerce), By Security Type, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68040-085-6
  • Number of Pages: 100
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Report Overview

The global supply chain security market size was evaluated at USD 2.13 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030. The growing number of cyberattack incidents across the supply chain process is expected to drive the demand for the market. The solution enables customers to focus on managing external vendors, transportation, suppliers, and logistics risks. The increasing need for transparency and sustainability is further boosting the growth of the market. However, the high cost associated with deploying security solutions can hamper market growth, majorly across small- and medium-sized enterprises (SMEs). Supply chain cyberattacks refer to the vulnerabilities in software systems, such as piracy, malware attacks, unauthorized access across software, and malicious backdoor attacks.

U.S. supply chain security market size and growth rate, 2023 - 2030

The growing vulnerabilities across the supply chain process could lead to inefficient delivery timelines, uncontrolled expenses, and loss of intellectual assets. These growing system breaches can disrupt, damage, and destroy multiple-level operations. Various SMEs and large enterprises have increased the adoption of security solutions to avoid such system breaches and help protect the process in a more efficient & secure way to overcome any rapid event of a disruption. In addition, many large enterprises are investing heavily in adopting technologies, such as the Internet of Things (IoT), blockchain, and Artificial Intelligence (AI), to enhance the transparency of supply chain activities. The data collected through IoT devices helps end users enhance efficiency, make accurate resource allocations, and reduce data waste.

Furthermore, the AI technology allows vendors real-time monitoring and forecasting of inventory stages ensuring proper flow of products throughout the warehouse. The technology also enhances demand forecasting, risk planning, customer & supplier management, and warehouse & logistics management. Moreover, the blockchain minimizes the involvement of third parties, thereby reducing transaction time and improving transparency across the supply chain activities. However, the high cost of security is one of the major factors hampering the growth of the market. The majority of SMEs have budget constraints to overcome cybersecurity challenges and adopt high-end technology solutions for enhancing the efficiency of the supply chain process. This limited capital requirement can be a major restraint factor for SMEs, including the supply chain security model.

Component Insights

The hardware segment accounted for the largest share of 64.5% of the overall revenue in 2022. Supply chain security has been a growing concern among governments & businesses around the globe, owing to the growing complexity of operations and international trade of goods & services. These complexities have emerged in the threat of cyberattacks as there is a huge involvement of various countries, vendors, and logistics processes. Hardware solutions play a vital role in improving the security of the supply chain process through real-time visibility, monitoring, and traceability capabilities.

The service segment is anticipated to grow at the fastest CAGR of 12.2% during the forecast period. The supply chain security services include a wide range of offerings that enable businesses to detect, assess, and overcome cybersecurity threats during the flow of the process. Security audits & compliance, risk assessment & consulting, and supplier & vendor management are a few of the services promoting the market demand across regions.

Security Type Insights

The data locality & protection segment accounted for the largest market share of 45.1% in 2022 and will remain dominant throughout the forecast years. The growing database associated with supply chain activities has increased the complexity of securing the data sets across various businesses, such as the healthcare and financial sectors. The data locality & protection security type enables businesses to manage & secure data, which is stored, used, exchanged, and managed in compliance with government and industry standards varying depending on the regions in which they operate. The data visibility & governance segment is anticipated to grow at a CAGR of 11.1% during the forecast period.

Data visibility & governance in this market help track different products and goods in transit, providing a clear analysis of the activities and inventory. The growing need to enhance customer service and reduce cost spending through managing inventory in the process, reducing risks, limiting disruption, and updating the status of transit activities has boosted the demand for data visibility & governance.

Enterprise Size Insights

The large enterprise segment accounted for a market share of around 53.3% in 2022. The growth in large enterprises increases the overall complexity of supply chain activity, which involves numerous vendors, suppliers, customers, logistics, and partners. This growing involvement of various parties throughout the process emerges the risk of cyber attacks, thereby introducing additional risks and vulnerabilities. The growing need to manage and mitigate these risks across the supply chain process has fueled the demand for the supply chain security market among large enterprises.

The small- and medium-sized enterprises segment is expected to grow at a CAGR of 11.6% during the forecast period. While small and medium-sized enterprises have smaller supply chain processes as compared to large enterprises, there are still threats of vulnerabilities and risks that can impact the supply chain process, thereby damaging the complete operations of the businesses. The growing need among SMEs to enhance data protection, supplier & customer management, and provide continuous monitoring and incident response has propelled the market demand.

Vertical Insights

The manufacturing segment accounted for the largest market share of 24.2% in 2022. The growing importance among the manufacturing industries to enhance the supply chain activities and secure them against potential vulnerabilities has emerged the need for the market. The industry relies on complex supply chain processes as the manufacturing process involves the development of critical products and solutions suitable for different application areas. Supply chain security enables the industry to protect the product development lifecycle by encouraging secure hardware and software development practices among suppliers.

Global supply chain security market share and size, 2022

Therefore, it has become vital for all manufacturing industries to implement secured operations and offer guidelines to mitigate future risks across the supply chain process, thereby boosting the market's growth. The healthcare & life sciences segment is anticipated to grow at a CAGR of 13.2% during the forecast period. The manufacturing process of healthcare & life sciences products and services involves complex supply chain activities, given the critical nature of the pharmaceutical, patient insights, and medical data. As the healthcare & life science sector is expected to grow, there is an increasing demand for prioritizing security to enhance the safety of patient data and maintain the integrity of products and services. Thus, the healthcare & life science segment is expected to boost the market demand.

Regional Insights

North America held the major share of 33.5% of the target market in 2022. The market in North America is driven by the increasing cyberattacks and the need for data security across various SMEs and large-scaleenterprises. For instance, the cyberattack on SolarWinds, Network Management System is one of the biggest cybersecurity incidents in the past few years. The U.S. is expected to hold the largest share of the market during this period due to the high adoption of security solutions and the presence of major supply chain security vendors in the region. North America is dominated by several key players, including NXP Semiconductors N.V., Oracle Corp., and International Business Machines Corporation.

Supply Chain Security Market Trends, by Region, 2023 - 2030

These companies offer various security solutions that help organizations perform effective supply chain activities and secure their data from cyber threats.Asia Pacific is anticipated to register the fastest CAGR of 13.1% from 2023 to 2030. Asia Pacific has seen a rapid increase in the technology adoption supporting security services, along with the growth in government initiatives to support cybersecurity compliances to protect data from threats, resulting in the need for supply chain security solutions. Moreover, the demand for security solutions across SMEs is expected to boost the growth of the Asia Pacific market as organizations look for scalable and cost-effective solutions. The healthcare, transportation, manufacturing, and retail sectors are expected to be the major end-users of supply chain security solutions in the Asia Pacific region due to the high demand among vendors to protect their data and enhance process transparency.

Key Companies & Market Share Insights

Industry players utilize a variety of inorganic growth tactics, such as partnerships, regular mergers, and acquisitions, to broaden their product offering. In February 2022, Oracle Corporation launched new logistic capabilities within Oracle Fusion SCM. These new capabilities enable the customers to reduce risks, navigate disruptions, minimize costs, and enhance customer experience. Some of the prominent players in the global supply chain security market include:

  • Altana

  • Dickson, Inc.

  • ELPRO-BUCHS AG

  • Emerson Electric Co.

  • International Business Machines Corporation

  • Hanwell Solutions

  • Monnit Corporation

  • NXP Semiconductors N.V.

  • Oracle Corporation

  • ORBCOMM

  • Rotronic Instrument Corp.

  • SafeTraces

  • Sensitech Inc.

  • Tagbox Solutions

  • Testo SE & Co. KGaA

Supply Chain Security Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 2.35 billion

Revenue forecast in 2030

USD 4.9 billion

Growth rate

CAGR of 11.1% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD billion, and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments covered

Component, security type, enterprise size, vertical, region

Regional scope

North America; Europe; Asia Pacific; Middle East & Africa; Latin America

Country scope

U.S.; Canada; Germany; UK; France; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Mexico; Argentina; U.A.E.; Saudi Arabia; South Africa

Key companies profiled

Altana; Dickson, Inc.; ELPRO-BUCHS AG; Emerson Electric Co.; International Business Machines Corp.; Hanwell Solutions; Monnit Corp.; NXP Semiconductors N.V.; Oracle Corp.; ORBCOMM, Rotronic Instrument Corp.; SafeTraces; Sensitech Inc.; Tagbox Solutions; Testo SE & Co. KGaA

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Supply Chain Security Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global supply chain security market report based on component, security type, enterprise size, vertical, and region:

  • Component Outlook (Revenue, USD Billion, 2018 - 2030)

    • Hardware

    • Software

    • Services

  • Security Type Outlook (Revenue, USD Billion, 2018 - 2030)

    • Data Locality & Protection

    • Data Visibility & Governance

    • Others

  • Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

    • Small & Medium-sized Enterprises

    • Large Enterprises

  • Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

    • Healthcare & Pharmaceuticals

    • Retail & E-commerce

    • Automotive

    • Transportation And Logistics

    • Manufacturing

    • Others

  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • U.A.E

      • Saudi Arabia

      • South Africa

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