Supply Chain Security Industry

The global supply chain security market size was evaluated at USD 2.13 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030. The growing number of cyberattack incidents across supply chain process is expected to drive the demand for supply chain security. Supply chain security solution enables customers to focus on managing external vendors, transportation, suppliers, and logistics risks. The increasing need for transparency and sustainability is further boosting market growth. However, high cost associated with deploying security solutions can hamper market growth, majorly across Small- And Medium-Sized Enterprises (SMEs). Supply chain cyberattacks refer to the vulnerabilities in software systems, such as piracy, malware attacks, unauthorized access across software, and malicious backdoor attacks.

Gather more insights about the market drivers, restrains and growth of the Global Supply Chain Security market

Supply Chain Security Market Segments:

Market Dynamics

The increasing adoption of advanced solutions and growing focus of businesses on digitization initiatives are leading to the generation of a vast amount of data in industrial sector. Industry 4.0 is gaining traction and companies across several industries are incorporating latest solutions and technologies that provide real-time insights across their operations. Moreover, the increasing need to reduce complexity in supply chain, save operational costs, increase productivity, and ensure fast and safe delivery of goods is compelling companies to deploy supply chain security solutions. The rising implementation of advanced technologies across industries is leading to the accumulation of vast volumes of rich business data that can offer a wide range of insights.

Component Insights

Hardware segment accounted for largest share of 64.5% of the overall revenue in 2022. Supply chain security has been a growing concern among governments & businesses around the globe, owing to the growing complexity of operations and international trade of goods & services. These complexities have emerged in the threat of cyberattacks as there is a huge involvement of various countries, vendors, and logistics processes. Hardware solutions play a vital role in improving the security of supply chain process through real-time visibility, monitoring, and traceability capabilities.

Security Type Insights

Data locality & protection segment accounted for the largest market share of 45.1% in 2022 and will remain dominant throughout forecast years. Growing database associated with supply chain activities has increased the complexity of securing data sets across various businesses, such as healthcare and financial sectors. Data locality & protection security type enables businesses to manage & secure data, which is stored, used, exchanged, and managed in compliance with government and industry standards varying depending on regions in which they operate.

Enterprise Size Insights

Large enterprise segment accounted for a market share of around 53.3% in 2022. The growth in large enterprises increases overall complexity of supply chain activity, which involves numerous vendors, suppliers, customers, logistics, and partners. This growing involvement of various parties throughout the process increases risk of cyber attacks, thereby introducing additional risks and vulnerabilities. The growing need to manage and mitigate these risks across supply chain process has fueled the demand for supply chain security market among large enterprises.

Vertical Insights

Manufacturing segment accounted for the largest market share of 24.2% in 2022. The growing importance among manufacturing industries to enhance supply chain activities and secure them against potential vulnerabilities has emerged the need for supply chain security. The industry relies on complex supply chain processes as the manufacturing process involves development of critical products and solutions suitable for different application areas. Supply chain security enables industry to protect product development lifecycle by encouraging secure hardware and software development practices among suppliers. Therefore, it has become vital for all manufacturing industries to implement secured operations and offer guidelines to mitigate future risks across supply chain process, thereby boosting market growth.

Regional Insights

North America held major share of 33.5% of the target market in 2022. The market in North America is driven by the increasing cyberattacks and the need for data security across various SMEs and large-scaleenterprises. For instance, the cyberattack on SolarWinds, Network Management System is one of the biggest cybersecurity incidents in the past few years. The U.S. is expected to hold the largest share of the market during this period due to the high adoption of security solutions and the presence of major supply chain security vendors in the region. North America is dominated by several key players, including NXP Semiconductors N.V., Oracle Corp., and International Business Machines Corporation. These companies offer various security solutions that help organizations perform effective supply chain activities and secure their data from cyber threats.

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Supply Chain Security Market Share Insights

Industry players utilize a variety of inorganic growth tactics, such as partnerships, regular mergers, and acquisitions, to broaden their product offering. In February 2022, Oracle Corporation launched new logistic capabilities within Oracle Fusion SCM. These new capabilities enable the customers to reduce risks, navigate disruptions, minimize costs, and enhance customer experience. Some of the prominent players in the global supply chain security market include.

• Altana
• Dickson, Inc.
• ELPRO-BUCHS AG
• Emerson Electric Co.
• International Business Machines Corporation
• Hanwell Solutions
• Monnit Corporation
• NXP Semiconductors N.V.
• Oracle Corporation
• ORBCOMM
• Rotronic Instrument Corp.
• SafeTraces
• Sensitech Inc.
• Tagbox Solutions
• Testo SE & Co. KGaA

Segments Covered in the Report

Grand View Research has segmented the global supply chain security market based on component, security type, enterprise size, vertical, and region:

Supply Chain Security Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Hardware
• Software
• Services

Supply Chain Security Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Data Locality & Protection
• Data Visibility & Governance
• Others

Supply Chain Security Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

• Small & Medium-sized Enterprises
• Large Enterprises

Supply Chain Security Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

• Healthcare & Pharmaceuticals
• Retail & E-commerce
• Automotive
• Transportation & Logistics
• Manufacturing
• Others

Supply Chain Security Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa

Recent Development

• In June 2023, Emerson Electric Co. launched its new ASCO Series 641, 642, and 643 Aluminum Filter Regulators. These new products are designed to reduce unplanned downtime and maximize process efficiency in a wide range of process applications.
• In May 2023, NXP Semiconductors N.V. introduced a new i.MX 91 application processor series to deliver a powerful blend of features, security capability, and energy-efficient performance across the next generation Linux-enabled IoT and industrial applications.

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