MON DEC 30 2024-theGBJournal| New report by Allied Market Research estimates the global digital supply chain market will reach $13.67billion by 2030, growing at a CAGR of 13.2% from 2021 to 2030. As per the report, the global digital supply chain industry was pegged at $3.91billion in 2020.
Increase in demand for reliable, fast, and effective order execution, rise in demand for cloud-based supply chain management solutions, and improved use of industrial-grade digital technology will drive the growth of the global digital supply chain market, the report said.
However, security concerns associated with the digital supply chain among the people hinder the market growth. On the contrary, the ongoing digital transformation trend and proliferation of supply chain 4.0 are expected to open lucrative opportunities for the market players in the coming years.
The digital supply chain market refers to the integration of digital technologies, such as IoT, AI, blockchain, and analytics, to enhance supply chain operations.
It focuses on improving efficiency, transparency, agility, and decision-making through real-time data exchange, automation, and connectivity across the entire supply chain network.
Asia-Pacific is expected to observe highest growth rate during the forecast period. Strong economic growth along with the ongoing development in the services sector has driven business enterprises to invest heavily in digital supply chain solution to sustain their growth and improve productivity.
In addition, factors such as rise in cloud deployment among small & medium sized businesses and ongoing modernization of manufacturing & construction industries drive heavy investment in digital supply chain in the emerging countries such as India, China, and Australia.
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