Supply Chain Security Market Expansion 2024-2033: Growth Drivers and Dynamics

Supply Chain Security Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The supply chain security market size has grown rapidly in recent years. It will grow from $1.76 billion in 2023 to $1.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to increased cybersecurity threats, stringent regulatory requirements, supply chain disruptions, data protection concerns, increased complexity and vulnerabilities in global supply chains.

The supply chain security market size is expected to see rapid growth in the next few years. It will grow to $2.95 billion in 2028 at a compound annual growth rate (CAGR) of 11%. The growth in the forecast period can be attributed to counterfeit prevention, sustainability and ethical sourcing, and resilience planning, increasing adoption of cloud services, rapid growth of E-commerce. Major trends in the forecast period include increasing adoption of blockchain for secure and transparent supply chain management, growing use of IoT devices and sensors, adoption of artificial intelligence and machine learning and collaborative security approaches.

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Scope Of Supply Chain Security Market

The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Supply Chain Security Market Overview

Market Drivers –

The rising incidences of cargo theft are expected to propel the growth of the supply chain security going forward. Cargo theft is the unlawful taking of products or commodities from a commercial truck, warehouse, or transportation facility while in motion or being stored. Supply chain security prevents cargo thefts by identifying vulnerabilities, implementing preventive measures, responding swiftly to potential threats, safeguarding goods, and maintaining supply chain integrity. For instance, in November 2023, according to the National Insurance Crime Bureau, a US-based non-profit organization, there were 582 recorded cargo theft incidents across the United States and Canada in the second quarter of 2023, which was a 57% rise compared to the corresponding period in 2022. Therefore, the rising incidences of cargo theft are driving the growth of the supply chain security market.

Market Trends –

Major companies operating in the supply chain security market are developing innovative products such as Spectra Assure to gain a competitive edge. Spectra Assure is a supply chain security solution that provides unparalleled protection against software supply chain attacks for software producers and critical risk analysis for enterprise software buyers. For instance, in February 2024, ReversingLabs, a US-based computer and network security company, launched Spectra Assure. Spectra Assure harnesses advanced, complex binary analysis and AI-driven algorithms to dissect and evaluate binary code thoroughly, offering a profound understanding of software behavior and security threats at the machine level. This comprehensive method accurately detects malware and tampering within software packages, encompassing components from first, second, and third parties, and provides unmatched defense against software supply chain attacks for producers and buyers alike.

The supply chain security market covered in this report is segmented –

1) By Component: Hardware, Software, Services

2) By Security Type: Data Protection, Data Visibility And Governance, Other Security Types

3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises

4) By Vertical: Healthcare And Pharmaceuticals, Retail And E-commerce, Automotive, Transportation And Logistics, Manufacturing, Other Verticals

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Regional Insights –

North America was the largest region in the supply chain security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the supply chain security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the supply chain security market report are <b>International Business Machines Corporation (IBM); Cisco Systems Inc.; Oracle Corporation; Broadcom Inc.; Google Cloud; NXP Semiconductors N.V.; VMware LLC; Palo Alto Networks Inc.; Fortinet  Inc.; F5 Networks Inc.; Check Point Software Technologies Ltd.; CrowdStrike Holdings Inc.; McAfee LLC; Elastic N.V.; Proofpoint Inc.; Zscaler Inc.; SonicWall Inc.; SailPoint Technologies Inc.; Bitdefender S.R.L.; FireEye Inc.; RSA Security LLC; Imperva Inc.; Orbcomm Inc.; Sensitech Inc.; SafeTraces Inc. </b>

Table of Contents

1. Executive Summary
2. Supply Chain Security Market Report Structure
3. Supply Chain Security Market Trends And Strategies
4. Supply Chain Security Market – Macro Economic Scenario
5. Supply Chain Security Market Size And Growth

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27. Supply Chain Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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