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Home Application Operations

Supply chain risk insights essential for modern firms

FutureIoT Editors by FutureIoT Editors
May 1, 2025
Photo by RDNE Stock project: https://www.pexels.com/photo/cardboard-box-on-top-of-a-concrete-fence-7362843/

Photo by RDNE Stock project: https://www.pexels.com/photo/cardboard-box-on-top-of-a-concrete-fence-7362843/

The continuous disruption of global supply chains has compelled businesses to adopt a more proactive stance in managing risks associated with their suppliers and logistics. Visibility into supply chain operations, while crucial, is no longer sufficient. Companies must now seek quantified insights into supply chain risks to navigate increasing trade complexities effectively.

ABI Research forecasts revenues for dedicated Supply Chain Risk Management (SCRM) solutions to grow at a staggering Compound Annual Growth Rate (CAGR) of 35%, reaching US$5 billion by 2032.

Ryan Wiggin, a senior analyst at ABI Research, notes, “A general growth in supply chain awareness is a big part of the increasing spending on risk management solutions."

"Issues with raw materials supply driving up prices, transport blocks from geopolitical uncertainty, and adverse weather are pushing companies to work more proactively with their Tier One suppliers to help manage their Tier Two and Tier Three suppliers.” Ryan Wiggin

Key providers in this space, such as Everstream Analytics, Exiger, and Resilinc, are offering critical supply chain data and developing innovative tools that help organisations visualise supply chains, identify potential risks, and implement timely solutions.

The rise of tariffs and targeted international policies is creating a fertile ground for risk management solutions that focus on specific countries or types of risk, including supplier ties, regulatory compliance, and sustainability. Notable players like Sphera, Interos.ai, and Strider Technologies are also making significant strides in this sector.

Currently, North America leads in spending on SCRM solutions, commanding roughly 40% of the market share, while Europe follows closely at 36%. However, there is a notable surge in interest from companies in the Asia-Pacific region, which is expected to experience the highest forecast CAGR at 47.1%. By 2032, revenue from this region is anticipated to outpace that of North America and Europe.

“It’s often hard to identify the Return On Investment (ROI) of SCRM solutions,” Wiggin adds. He cautions that companies should also view risk management as a means for unlocking supply chain savings.

"Mapping suppliers and sub-tier suppliers can support large-scale optimisation projects. As providers evolve and become harder to differentiate, accessing real-time transport visibility data ‘on the ground’ will be key to delivering the highest value,” he continues.

As organisations navigate an increasingly complex trade environment, the emphasis on quantified risk insights is poised to transform how supply chains are managed.

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Tags: ABI Researchsupply chain risk management
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The race to harness the power of Internet of Things (IoT) is here. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation, originating from Asia. << Read more >>

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