The Asia Pacific Supply Chain Security Market would witness market growth of 7% CAGR during the forecast period (2021-2027).
A multidimensional approach is needed for supply chain security. There are several solutions to protect supply chains but the best way to protect the organization’s supply chain is the combination of layered defense. The supply chain security teams are emphasizing on offering improved security measures due to which, cybercriminals are struggling to crash security control and till the time they crack the security, the security teams can detect the problem and take action according to it.
Several enterprises deal with many suppliers and trust them to deliver proper services, and products. The supply chains are large as well as complex and include several suppliers that do various things. It is difficult to provide effective security to the supply chain due to the presence of vulnerabilities that can be inbuilt or introduced and thus, making it vulnerable at any stage of the supply chain. These vulnerabilities can disrupt and damage the supply chain.
Asia-Pacific comprises major economies and populous nations that are located in different parts of the region. Several businesses in this region, connect to the markets through complex supply chains, including numerous trading partners and a variety of different paths to market. Supply chains in this region are considerably more difficult to manage than in many other parts of the globe. Whereas, several businesses in this region are dependent on the export markets in the US and Europe due to which they face the problem of imbalanced flow of supply chain.
Supply chain security has become essential for advanced organizations to obtain the business security. Mainly, all companies use software, web, and mobile applications to aid customers and execute internal functions. According to the latest research on cybersecurity, the companies across the Asia Pacific (APAC) are facing problems in providing security to their business and network. Therefore, the implementation of supply chain security solutions would rise in this region, leading to the surge in the growth of the supply chain security market.
The China market dominated the Asia Pacific Supply Chain Security Services Market by Country 2020, thereby, achieving a market value of $18.7 million by 2027. The Japan market is exhibiting a CAGR of 7.7% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 9.1% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Supply Chain Security Market is Projected to reach USD 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.
By Component
By Organization Size
By Application
By Vertical
By Country
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