Global Supply Chain Security Market to Grow at a CAGR of 11.4% During 2024-2032, Driven by the Incorporation of Advanced Technologies.

The Asia Pacific holds a significant portion of the supply chain security market share, as the need for supply chain security solutions has arisen from the region's sharp rise in the use of technology to support security services and the expansion of government measures to assist cybersecurity compliances to safeguard data from threats. The region is demographically and economically important in the global supply chain.

Countries like China, Japan, and South Korea have employed innovative technologies to increase the efficiency of supply chain vendors. The emission calculator launched by the Indian government to calculate GHG emissions further strengthens supply chain security in this region. As businesses search for scalable and affordable solutions, the Asia Pacific market is anticipated to increase as a result of the need for scalable security solutions among SMEs.

In October 2023, the leading provider of enterprise identity protection, SailPoint Technologies, Inc. (NYSE: SAIL), announced that its operation on Amazon Web Services (AWS) through the Asia Pacific (Singapore) Region was SailPoint's eighth location worldwide. The data centre will allow businesses in highly regulated sectors, such as healthcare, finance, and government, to take advantage of the commercial benefits of adopting cloud computing while also adhering to local and regulatory requirements.

By doing this, SailPoint will help customers meet data residency and privacy regulations while meeting the increasing demand for its identity security cloud services throughout Singapore and Southeast Asia. The company will also enable local and regional customers to obtain greater flexibility, agility, and lower latency through the AWS Asia Pacific (Singapore) Region, allowing them to concentrate on business acceleration and remain competitive on a global scale.

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Market Analysis by Component, Security Type, Organisation Size, Industry Vertical, and Region:

• The market, on the basis of component, can be divided into hardware, software, and services.

• Based on security type, the market can be divided into data locality and protection, and data visibility and governance, among others.

• The various organisation sizes include SMEs and large enterprises.

• On the basis of industry vertical, the market can be divided into healthcare and pharmaceuticals, FMCG, chemicals, retail and e-commerce, and automotive, among others.

• The major regional markets for supply chain security include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The integration of automation through high-speed networking with artificial intelligence and machine learning can greatly enhance data security. Security solutions powered by AI and machine learning can anticipate attacks and defend networks and systems against cyberattacks, which necessitates technology to enhance data security.

• According to reports, e-commerce employment grew by over 32% in 2022 from 28% in 2021 globally. The rapid growth of e-commerce and online transactions emphasises global supply chain security.

• Government and regulatory bodies are employing stricter supply chain security rules. In accordance with the Federal Acquisition Supply Chain Security Act of 2018 and a final rule published by the Federal Acquisition Security Council, the Department of Defence, the General Services Administration, and NASA have released an interim rule that amends the Federal Acquisition Regulation (FAR) to implement supply chain risk information sharing and exclusion or removal orders.

• The growing incidents of cyber security threats, which cost the world economy USD 8 trillion a year, further create opportunities for the supply chain security market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global supply chain security market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the components, security types, organisation sizes, industry verticals, and major regions of supply chain security.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global supply chain security market are IBM Corporation, Emerson Electric Co, Oracle Corporation, NXP Semiconductors N.V., Orbcomm, Inc., Check Point Software Technologies Ltd, Omega Compliance, and SailPoint Technologies, Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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