If 2021 was about shortages in the global supply chain and striving to be resilient, 2022 is about businesses making a move toward increased domestic capability while embracing tech-driven solutions. This is evidenced by some 35% of CEOs identifying the need to be able to monitor more deeply into the supply chain (i.e., tiers 3 and 4) in order to better anticipate trouble as a priority for their business.
The Covid-19 pandemic and other external factors have intensified the focus on evolving the supply chain, particularly in the Asia market. While Asia Pacific exports have traditionally been targeted for North America and Europe, today, with Asia's meteoric rise as a consumption market, intra-Asia export has grown upwards of 50%. This includes a quadrupling of e-commerce during the past three years, which is further expected to grow to USD 300 billion by 2025.