The Worldwide Supply Chain Management Industry is Expected to Reach $42+ Billion by 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 7, 2022--
The “Global Supply Chain Management Market By Component, By Deployment Type, By Organization Size, By Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Supply Chain Management Market size is expected to reach $42.46 billion by 2027, rising at a market growth of 10.4% CAGR during the forecast period.
Supply chain management software helps in organizing and managing various activities of the whole supply chain. This software is utilized across various supply chain transactions and assists in managing supplier relationships and business procedures. Further, it offers precise information and an end-to-end insight into supply chain procedures.
By implementing effective supply chain management systems, companies can bring down the cost, wastage, and time of the entire production cycle. The recent trend of a just-in-time supply chain is fueling the demand for supply chain management systems as it automatically notifies the manufacturers to replenish orders. Companies also evaluate the data from supply chain partners to look after the areas for enhancements, which is among the ways to boost the supply chain processes.
Factors such as the high growth of the e-commerce sector, increasing popularity of cloud solutions among SMEs, and improving business continuity by reducing the potential failures are estimated to propel the growth of the supply chain management market over the forecast period.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has disturbed all aspects & sections of life & society along with businesses. In the current scenario, widespread communication is possible because of the internet and hence, playing a crucial role in managing and operating businesses. The pandemic has provided a great opportunity for businesses to go digital.
During the COVID-19 pandemic, several regulatory authorities and governments have made it compulsory to follow the rules to maintain social distance and adopt new practices of teleworking. Hence, companies are following the new Business Continuity Plan (BCP) to proceed with their business properly and timely. Due to digitalization, companies are excessively adopting supply chain management solutions and services to protect their data from breaches.
Market Growth Factors:
Increase in the demand for high visibility & transparency in supply chain data and processes
Low transparency and visibility pose major challenges for many companies in terms of fulfilling their supply chain’s objectives. Due to low transparency and visibility in supply chain processes, companies are unable to foresee the future and avoid interruptions and inventory imbalance. This results in hampering the management of data that is spread across the different sectors of the company. The evolving technologies and fast-growing digital age are creating challenges for supply chain organizations to grow at the same speed to provide facilities to the investors.
Growing demand for transportation management systems (TMS) software
In the supply chain, transportation is defined as the movement of various products from one location to another that starts from the initial stage of the supply chain since raw materials make their way to the warehouse and maintain their way to the end-user with the customer’s order provided at the doorstep. The high significance of transportation is motivating warehouse managers to evaluate transportation within their supply chains. Eventually, in this manner, companies can bring down the overall cost for a model wherein transportation makes around 60 percent of total operational costs.
Marketing Restraining Factor:
Low awareness regarding the advanced supply chain management tools
There is low awareness regarding supply chain management solutions in the market, which is hindering the demand for these solutions. There are several small and medium enterprises across developing nations that have not fully automated their business processes and also have limited knowledge about such solutions and thus, negatively affecting the growth of the supply chain management market during the forecast period.
Scope of the Study
Market Segments Covered in the Report:
- Supplier Management Software
- Procurement Software
- Order Management Software
- Transportation Management Software
- Warehouse Management Software
- Demand Planning Software
- Capital Purchasing Software
- Barcode & Barcode Scanners
- RFID Tags & Readers
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- FMCG, Retail & eCommerce
- Transportation & Logistics
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- SAP SE
- Oracle Corporation
- Infor, Inc. (Koch Industries)
- IBM Corporation
- Descartes Systems Group, Inc.
- Manhattan Associates, Inc.
- American Software, Inc. (Logility, Inc.)
- Kinaxis, Inc.
- Blue Yonder Group, Inc. (Panasonic Corporation)
- Korber AG
For more information about this report visit https://www.researchandmarkets.com/r/tp26op
View source version on businesswire.com:https://www.businesswire.com/news/home/20220107005294/en/
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INDUSTRY KEYWORD: TECHNOLOGY TRANSPORT DATA MANAGEMENT LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Research and Markets
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PUB: 01/07/2022 09:08 AM/DISC: 01/07/2022 09:08 AM