Supply Chain Risk Management Market Size Was Valued at USD 3.46 Billion in 2023, and is Projected to Reach USD 7.68 Billion by 2032, Growing at a CAGR of 9.26% From 2024-2032.
Supply chain risk management, or SCRM, is "the implementation of strategies to manage both everyday and exceptional risks along the supply chain based on continuous risk assessment with the objective of reducing vulnerability and ensuring continuity." To advance the business strategy within the underlying sectors, analyze and determine the best risk utilization appropriate to sourcing operations. Then, design and codify a sourcing risk appetite statement. Create a flexible and efficient cross-functional governance structure with the primary goal of assisting in risk-based decision-making. This framework will act as a risk oversight and advisory role.
Putting in place a strong supply chain risk management (SCRM) strategy is essential to overcoming these obstacles. By using this strategic strategy, businesses can strengthen their resilience to deal with uncertainty and continue operating their businesses as usual. Organizations can reduce costs, enhance quality, and increase customer satisfaction by being proactive in their preparation and able to either prevent or manage disruptions. Additionally, SCRM is essential in assisting businesses in upholding legal requirements, protecting their reputation as a brand, and advancing sustainability.
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Leading players involved in the Supply Chain Risk Management Market include:
Resilinc (United States), Avetta (United States), Riskex (United Kingdom), DHL Resilience360 (Germany), Oracle Corporation (United States), SAP SE (Germany), SAS Institute Inc. (United States), Kinaxis Inc. (Canada), Everstream Analytics (Canada), Cloudleaf (United States), Quantzig (United States), LogicManager (United States), Anaplan Inc. (United States), Infor (United States), Coupa Software Inc. (United States), IBM Corporation (United States), QAD Inc. (United States), Savi Technology (United States), E2open (United States), Amber Road (United States), FourKites (United States), JDA Software (United States) and Other Major Players.
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Supply Chain Risk Management Market Segmentation
By Component
· Solution
· Services
By Deployment
· On-Premise
· Cloud
By Enterprise Size
· Large Enterprise
· Small and Medium Enterprise
By End Use Industry
· Retail and Consumer Goods
· Healthcare and Pharmaceuticals
· Manufacturing
· Food and Beverages
· Transportation and Logistics
· Automotive
Market Growth and Size
A significant focus on data-driven risk reduction techniques and the increasing complexity of global supply chains are driving the growth of the supply chain risk management industry. In the upcoming years, this is anticipated to translate into a sizable market expansion.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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Market Drivers
Global Supply Chain Globalization:
Robust risk management solutions have become necessary to handle the wide-ranging and diverse nature of suppliers and logistics in supply chains that are growing more global and sophisticated.
Observance of Regulations:
Effective supply chain risk management solutions are becoming increasingly necessary, especially in sectors like pharmaceuticals, food and beverage, and automotive, where regulations and standards are becoming more stringent.
Cybersecurity Threats:
The increasing digitization of supply networks has led to an increased risk of cyberattacks. Keeping the supply chain secure is increasingly important for risk management.
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