The Latin America, Middle East and Africa Supply Chain Security Market would witness market growth of 9.2% CAGR during the forecast period (2021-2027).
FMCG companies get several benefits from adopting SCM solutions and services like end-to-end visibility in real-time, reduction in operating cost, and business intelligence. These advantages allow the company to directly implement and optimize orders for shipment routing, on-demand delivery of products, and efficient transportation spend management. Therefore, the implementation of SCM solutions is estimated to be high in this vertical.
To reduce the supply chain risks, it is necessary for healthcare groups to directly deal with their sellers. The healthcare groups should ensure that their partner, supplier, or vendor has adopted security control solutions that will reduce the risk in the supply chains. Though, the healthcare supply chain faces many challenges.
Manufacturing companies mainly outsource their SOC activities and only concentrates on their operations. The major target of the cybercriminal is the manufacturing industry as it is a vital component of the global economy. The hacking groups, which are independent or state-sponsored, are shifting towards supply chain attacks to make companies from the manufacturing sector their target.
The retail & e-commerce industry is growing in this region that is supporting the deployment of supply chain security solutions. The main goal of supply chain management is to achieve cost reduction throughout the supply chain and to gain the value of the product. Supply chain management has emerged as a promising area of business management across the globe. The supply chain managers are likely to surge the profitability of operations in their manufacturing and distribution processes by reducing total operating costs, increasing the profit of products distributed, or maximizing ROI (return on inventory) invested.
The objective of the supply chain solution is to resolve the problem of a general supply chain in delivering goods to consumers at the lowest costs and highest profit. Therefore, supply chain security solutions can be applied in any industry that is distributing or manufacturing products. LAMEA is a developing region and is expected to surge the adoption of supply chain security solutions in the upcoming years.
The Brazil market dominated the LAMEA Data Visibility & Governance Supply Chain Security Market by Country 2020, thereby, achieving a market value of $8.6 million by 2027. The Argentina market would witness a CAGR of 9.4% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 8.6% during (2021 - 2027).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Data Protection, Data Visibility & Governance and Others. Based on Vertical, the market is segmented into Retail & eCommerce, FMCG, Healthcare & Life Sciences, Manufacturing, Transportation & Logistics and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Supply Chain Security Market is Predict to reach $1.3 Billion by 2027, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation (Sensitech, Inc.), IBM Corporation, NXP Semiconductors N.V., Emerson Electric Co., Orbcomm, Inc. (Northrop Grumman Corporation), Monnit Corporation, Berlinger & Co. AG, Signatrol Ltd., Cold Chain Technologies (Aurora Capital Partners) and Qingdao Haier Biomedical Co., LTD.
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