DELRAY BEACH, Fla., Jan. 14, 2025 /PRNewswire/ -- The global Supply Chain Security Market will grow to USD 5.14 billion by 2030 from USD 2.52 billion in 2024, at a CAGR of 12.6% during 2024- 2030, according to a new report by MarketsandMarkets.
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2018-2030 |
Base year considered | 2023 |
Forecast period | 2024-2030 |
Forecast units | Value (USD Billion) |
Segments Covered | By Offering, Security Type, Organization Size, Application Areas, and Region. |
Geographies covered | North America, Europe, Asia Pacific, Middle East and Africa, Latin America |
Companies covered | 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). |
The major drivers of the market growth of the Supply Chain Security Market are the rising frequency of cyberattacks, data breaches, and disruptions across global supply chains. For instance, we have observed that industries such as logistics, manufacturing, pharmaceuticals, and retail are experiencing growing threats to data integrity and operational continuity. In addition to this, adoption of blockchain technology for supply chain security is growing due to its decentralized, transparent, and tamper-proof ledger capabilities. This facilitates real-time tracking, authentication of the goods, and anomaly detection against security risks.
With blockchain and IoT integration, companies can assure traceability of shipments, prevent unauthorized access, and enhance network visibility. Further, advanced technologies such as AI and predictive analytics enable advanced proactive identification of vulnerabilities thus reducing downtime and financial loss. For example, a smart system in modern warehouse supports automated risk management and ensures strict data localization and privacy regulations. Also, advanced digital infrastructure in urban areas enhances adoption thereby ensuring secure streamlined operations.
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Based on the organization size, SMEs are expected to grow at the highest CAGR during the forecast period
Small and Medium-sized Enterprises (SMEs) are likely to register the highest CAGR during the forecast period due to higher adoption of digital solution and growing exposure to security threats. The greater incorporation of SMEs in the global supply chains imposes increased pressure on them to comply with regulations, protect sensitive information, and handle emerging problems such as cyberattacks, counterfeiting, and disruptions. Apart from this, affordable cloud-based solutions and cheaper security technologies have made it possible for SMEs to use highly complex solutions such as real-time monitoring, threat detection, and end-to-end visibility without having to make hefty infrastructure investments. SMEs have begun using technologies such as IoT, blockchain, and AI-driven analytics for maximum efficiency and low exposure to risk. Additionally, priorities like logistics security, data governance and traceability, have all gained precedence in a modern world highly reliant on ecommerce and foreign trade. Further, government encouragement towards the SME digitalisation encourages SMEs to adopt supply chain security solutions so that they can compete effectively in international competitions.
By Security type, Data Locality & Protection will grow at the highest market size during the forecast period.
With a rise in data sovereignty concerns, regulatory compliance, and cybersecurity risks, the data locality & protection segment will dominate the Supply Chain Security Market. Since organisations are increasingly adopting supply chains globally, governments are implementing stronger laws on data localisation, where sensitive data should be within the national borders. The need to safeguard against data breaches, observe regulations such as GDPR and CCPA, and also protect intellectual property makes a case for this change. With the increasing cyberattacks against supply chains, the flow of information across interlinked systems requires advanced protection. Businesses also employ cloud solutions with local infrastructure to reduce latency and provide security. All these factors drive the demand for robust data locality and protection strategies, hence making it the segment with largest market size.
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By region, North America will grow at the highest market size during the forecast period.
North America is expected to grow at the highest market size in the Supply Chain Security Market during the forecast period because of its advanced technological infrastructure, stringent regulatory framework, and increasing cybersecurity threats. The region houses major economies like the United States and Canada, which are at the forefront of adopting cutting-edge technologies such as IoT, blockchain, and AI for supply chain visibility and security. This also includes North America, whose strict compliance requirements, CISA regulations, and the NIST Cybersecurity Framework propel organisations to invest heavily in solutions for supply chain security.
The increasing number of cyberattacks, especially ransomware, and breaches in critical supply chain networks have led industries in healthcare, manufacturing, and retail to enhance their defenses. Furthermore, government initiatives in the form of Biden's Executive Order on Supply Chain Resilience heighten supply chain security. With vigorous adoption of cloud-based solutions, increasing digitalization, and vendor presence, North America is expected to lead this market.
Top Key Companies in Supply Chain Security Market:
The report profiles key players such as IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (Netherlands), Testo (Germany), Orbcomm (US), Sensitech (US), Elpro (Switzerland), Rotronic (Switzerland), Berlinger & CO. (Switzerland).
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