“IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (the Netherlands), Testo (Germany), ORBCOMM (US), Sensitech (US), ELPRO (Switzerland), Rotronic (Switzerland), Monnit (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Dickson (US), Signatrol (UK).”
Supply Chain Security Market by Component (Hardware, Software, Services), Security Type (Data Locality & Protection, Data Visibility & Governance), Organization Size, Application (Healthcare & Pharmaceuticals, FMCG) and Region – Global Forecast to 2027.
The global supply chain security market is projected to increase from an estimated USD 2.0 billion in 2022 to USD 3.5 billion by 2027, with a compound annual growth rate (CAGR) of 11.0%. The market growth is expected to be driven by the increasing demand for real-time visibility of supply chain assets and the rising number of cyberattacks targeting supply chains.
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By component, hardware segment to account for the largest market size during forecast period
The supply chain security market, by component, is bifurcated into hardware, software, and services. The hardware segment includes sensors, data loggers, and other devices used to track and trace assets in a supply chain. The supply chain security solutions require sensors and other hardware to monitor products effectively. Hardware devices are used in various applications, such as environmental sensing, data relaying, and centralizing databases for further evaluation. For example, data loggers are used throughout the cold chain to monitor the temperature of food, pharmaceuticals, chemicals, and other temperature-sensitive products. Sensing devices (temperature sensors, pressure sensors, and flow measurement sensors) are used to track shipments, locations, and the visibility of products and transport vehicles in real time. The need for hardware devices for the effective and secure functioning of supply chains is expected to boost the market growth in this segment.
By application, healthcare and pharmaceuticals to grow at highest CAGR during forecast period
The healthcare and pharmaceuticals verticals are rapidly undergoing digital transformation. However, increasing digitalization leads to the risk of fraud and cybercrimes. The healthcare industry faces challenges such as complex and costly data reconciliation and the lack of interoperability between various systems in a healthcare network. Illegal activities, such as producing harmful medicines and counterfeit drugs by criminal enterprises, improper stock control, and the lack of visibility and transparency across the supply chain, occur in this industry. Supply chain security solutions help resolve supply chain challenges with continuous medicine tracking. These solutions powered by AI/blockchain enable manufacturers to track the physical goods from their production to pharmacy and consumers to track the product authenticity in real time.
By region, North America to account for largest market size during forecast period
North America, considered the most advanced region in terms of advanced supply chain security technologies, is expected to be the largest contributor to the global supply chain security market size. The wide presence of key industry players in this region fuel market growth in supply chain security solutions. North America includes the US and Canada, among which the US is expected to dominate the market. Pharmaceuticals and healthcare industries have made noteworthy contributions toward the growth of the supply chain security market in the region. The pharmaceutical industry is subject to stringent regulations to ensure safety and good storage and distribution practices. The regional presence of key industry players offering supply chain security solutions is the key factor driving the growth of the North American supply chain security industry. The key players in this region include Sensitech (US), ORBCOMM (US), Emerson (US), Monnit (US), IBM (US), and Oracle (US). The dominance of supply chain security players in North America is expected to drive overall market growth. The increasing digitalization, presence of key supply chain security vendors, and strict regulations implemented in the region have driven growth in the supply chain security market.
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Unique Features in the Supply Chain Security Market
A key feature of the supply chain security market is the growing demand for real-time visibility into assets and processes. Advanced tracking technologies, such as IoT sensors, RFID, and GPS, allow companies to monitor their supply chain activities continuously.
The supply chain security market is increasingly focused on integrating cybersecurity with traditional physical security measures. As supply chains become more digital and interconnected, they are more vulnerable to cyberattacks, making cybersecurity a critical component of overall supply chain security.
The use of predictive analytics in supply chain security is another unique feature of the market. By leveraging big data, artificial intelligence (AI), and machine learning (ML), companies can identify potential risks and vulnerabilities before they become actual threats.
Blockchain technology is being adopted in the supply chain security market to enhance transparency and traceability. Blockchain provides an immutable record of transactions, making it easier to track the movement of goods and verify the authenticity of suppliers
The market is seeing a shift towards comprehensive, end-to-end security solutions that cover every aspect of the supply chain, from procurement to final delivery. These solutions include physical security measures, cyber protection, compliance monitoring, and risk management tools.
Major Highlights of the Supply Chain Security Market
The supply chain security market is experiencing significant growth, driven by the increasing frequency of cyberattacks and physical threats targeting supply chains. Companies are recognizing the need to safeguard their supply chains from vulnerabilities such as data breaches, theft, and disruptions.
One of the major highlights of the market is the increasing demand for real-time visibility across supply chain operations. Companies are adopting Internet of Things (IoT) devices, sensors, and GPS technologies to monitor the location and condition of goods in transit.
As supply chains become more digitized, there is a growing emphasis on integrating cybersecurity measures within supply chain operations. With the rise of cyberattacks targeting critical supply chain infrastructures, companies are focusing on securing their digital networks, systems, and sensitive data.
Blockchain technology is playing an increasingly important role in the supply chain security market. Its ability to create secure, transparent, and immutable records of transactions enhances traceability and accountability across the supply chain. Companies are leveraging blockchain to prevent fraud, counterfeiting, and unauthorized alterations of goods, particularly in industries such as pharmaceuticals, luxury goods, and food.
The use of predictive analytics, artificial intelligence (AI), and machine learning (ML) in supply chain security is becoming a key highlight of the market. These technologies help companies anticipate and mitigate risks by analyzing historical data, identifying patterns, and predicting potential vulnerabilities.
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Top Companies in the Supply Chain Security Market
The major vendors in the supply chain security market are IBM (US), Emerson (US), Oracle (US), NXP Semiconductors (the Netherlands), Testo (Germany), ORBCOMM (US), Sensitech (US), ELPRO (Switzerland), Rotronic (Switzerland), Monnit (US), Cold Chain Technologies (US), LogTag Recorders (New Zealand), Dickson (US), Signatrol (UK), Hanwell Solutions (UK), Controlant (Iceland), Roambee (US), Omega Compliance (Hong Kong), Tagbox Solutions (India), C2A Security (Israel), SafeTraces (US), Tive (US), Altana (US), FourKites (US).
Oracle (US): Oracle is one of the leading providers of a wide array of technologies. The company operates in three business areas: cloud and license, hardware, and services. It has a broad portfolio of SCM applications that enable organizations to improve outcomes for operational efficiency while ensuring cost savings. Oracle offers a comprehensive portfolio of cloud solutions for business functions, such as enterprise resource planning, human capital management, customer experience, and SCM. The Oracle SCM offerings, including Oracle product lifecycle management cloud, Oracle supply chain planning cloud, Oracle inventory management cloud, Oracle order management cloud, Oracle order manufacturing cloud, and Oracle logistics cloud, enable organizations to organize and improve their supply chains efficiently. Oracle’s geographic operations are spread across Europe, the Middle East and Africa, Asia Pacific, North America, and South America.
Testo (Germany): Another important player in the supply chain security market is Testo. Testo is a pioneer in the design, development, and manufacture of portable test and measurement instrumentation and solutions. It is a renowned manufacturer of portable combustion efficiency and air emission analyzers. It caters to chemical, food service and production, pharmaceutical and biotechnology, and residential HVAC supplier markets. The company has 35 subsidiary firms in China, Japan, Korea, the US, France, Spain, Italy, and other countries and employs approximately 3,200 people. In the supply chain security market, its product portfolio comprises sensors (control unit, multifunctional handles, measurement probes, and data loggers modules), HVAC, emission measuring devices (flue gas analyzer, gas analyzer, particle counter, smoke tester, and leak detector), measurement of indoor air quality (CO2, CO, light meter, sound level meter, and air meter), data loggers, electrical measurement, pressure measurement, flow measurement, temperature measurement, thermal imagers, transmitters, smart probes, and software.
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