Rise in ransom and supply chain attacks amidst the global pandemic, and increasing adoption of automation technology is expected to drive the supply chain security market’s overall growth.

The global supply chain security market size is projected to grow from USD 903 million in 2021 to USD 1,227 million by 2026, at a Compound Annual Growth Rate (CAGR) of 6.3% during the forecast period. Major driving factors for the supply chain security market include rise in ransom and supply chain attacks, increasing IoT devices in the supply chain, need for enhanced risk prediction and mitigation, and widespread adoption of automation technology across the supply chain.

By component, the services segment to register the highest growth rate during the forecast period

The services segment includes various services that are required to deploy, execute, and maintain the supply chain security software and hardware in an organization. As the adoption of the supply chain security solution increases, the demand for these services is also expected to increase. Supply chain security can be provided through professional security analysts who provide remote assistance and incident response to clients in case of suspicious activities. Professional services include training and education, and support and maintenance. As the adoption of the supply chain security increases, the demand for these services is also expected to soar. Supply chain security services ensure 24/7 protection against increasing sophisticated architectures, SOCs manned by security experts, and quick incident response services. Supply chain security vendors offer customized subscriptions and professional services to assist end users in easy planning and deployment of supply chain security solutions.

By organization size, the SME segment to register the highest growth rate during the forecast period

SMEs are the fastest-growing segment in the supply chain security market as cloud-based supply chain solutions and services help in improving business performance, enhancing security, and enhance productivity at an affordable cost. Hence, majority of the SMEs deploy cloud-based supply chain security solutions. SMEs tend to suffer from resource constraints, including financial resources and technical expertise, when it comes to the adoption of the supply chain security solutions and services. They are majorly adopting supply chain security solutions to gain real time visibility of all supply chain assets through their lifecycle. Governments are taking ample initiatives to promote the adoption of supply chain security solutions among SMEs. The COVID-19 pandemic is widely exploited by malicious cyber groups using COVID-19 themes, putting SMEs at the risk of cyber-attacks. Even though SMEs have limited budgets, there are many vendors who have curated supply chain security solutions according to the needs of an SME.

Asia Pacific to register the highest growth rate during the forecast period

Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global supply chain security market during the forecast period. The supply chain security market in APAC is projected to grow at the highest CAGR during the forecast period. APAC countries are increasingly investing in supply chain security projects. The region comprises emerging economies, such as China, Japan, India, and rest of APAC countries. With the proliferation of IoT in the APAC region, security and fraud concerns have risen. Enterprises in the APAC region are embracing supply chain security technologies. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies, political transformation, and the growing digitalization, which is expected to have a significant impact on the business community and drive the supply chain security market growth.

• By Company Type: Tier 1 – 24%, Tier 2 – 20%, and Tier 3 – 56%
• By Designation: C-level – 38%, D-level – 28%, and Others – 34%
• By Region: North America – 65%, Europe – 20%, Asia Pacific – 12%, RoW – 3%

Key and innovative vendors in the supply chain security market include Sensitech (US), ORBCOMM (US), ELPRO (Switzerland), Rotronic (Switzerland), Emerson (US), NXP Semiconductors (Netherlands), Testo (Germany), Qingdao Haier Biomedical (China), Monnit Corporation (US), Berlinger & Co. AG (Switzerland), Signatrol (US), IBM (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Omega Compliance (China), Dickson (US), Hangzhou Zeda Instruments (China), Oceasoft (France), Hanwell Solutions (UK), Controlant (Iceland), Tagbox Solutions (India), FreshSurety (US), Astrona Biotechnologies (US), Safetraces (US), MOST (Sweden), and Tive (US).

Research Coverage

The market study covers the supply chain security market size across segments. It aims at estimating the market size and the growth potential of this market across different segments by component, by security type, by deployment mode, by organization size, by vertical, and by region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the revenue numbers’ closest approximations for the overall supply chain security market and its sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.