DUBLIN--(BUSINESS WIRE)--The "Supply Chain Management Market by Component, User Type, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the global supply chain management market size was valued at $15.85 billion in 2019, and is projected to reach $37.41 billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027.
In the current scenario, factors such as development of industrial-grade digital technology, surge in need for improved supply chain visibility, an increase in inclination toward cloud-based supply chain management software, rise in need of demand management solutions among enterprises, and adoption of SCM software in healthcare and pharmaceutical companies are expected to fuel market growth.
In addition, upsurge in demand for transportation management systems (TMS) software and integration of block chain technology in SCM software is expected to drive the growth of the SCM market in the upcoming years. However, high cost associated with the implementation and maintenance of SCM solution and increase in security & privacy concerns among enterprises are expected to hamper the growth of the market during the supply chain management market forecast period.
Supply chain management (SCM) software facilitates the activities of the entire supply chain. The software is used in supply chain transactions and helps to manage supplier relationships and business processes. In addition, it provides accurate information and an end to end view of supply chain processes. It integrates the organization and supply chain together into a single system, and helps end users oversee areas such as warehousing, purchasing, marketing, sales, shipping, and others, which helps enterprises to make efficient business decisions.
The growth of the global supply chain management market is driven by development of industrial-grade digital technology, A surge in need for improved supply chain visibility, and an increase in inclination toward cloud-based supply chain management software. Moreover, A surge in need of demand management solutions among enterprises and an increase in adoption of SCM software in healthcare and pharmaceutical companies further boosts the growth of the market. However, high cost associated with the implementation and maintenance of SCM solution and an increase in security & privacy concerns among enterprises are expected to impede the market growth. On the contrary, upA surge in demand for transportation management systems (TMS) software and integration of blockchain technology in SCM software are expected to present major opportunities for market expansion in the near future.
The supply chain management (SCM) software market is segmented into component, solution type, deployment model, user type, industry vertical, and region. By component, the market is bifurcated into solution and services.
Key Benefits
- This study includes the supply chain management market analysis, trends, and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities of the market.
- The supply chain management market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter's five forces analysis illustrates the potency of buyers & suppliers in the supply chain management market.
Key Findings of the Study:
- By component, in 2019 the solution segment dominated the supply chain management market size. However, the services segment is expected to exhibit significant growth during the forecast period.
- By solution type, the procurement and sourcing segment accounted for the highest revenue in 2019.
- By deployment model, the on-premise generated the highest revenue in 2019. However, the cloud segment is expected to witness highest growth rate in the near future.
- By organization size, the large enterprises dominated the supply chain management market. However, the small & medium sized enterprises is expected to exhibit significant growth during the forecast period.
- By industry vertical, the retail & consumer goods segment accounted for the highest revenue in 2019.
- By region, Asia-Pacific is expected to witness significant growth in the upcoming years.
Market Dynamics
Drivers
- Development of Industrial-Grade Digital Technology
- Surge in Need for Improved Supply Chain Visibility
- Increase in Inclination Towards Cloud-Based Supply Chain Management Software
- Surge in Need of Demand Management Solutions Among Enterprises
- Increase in Adoption of Scm Software in Healthcare and Pharmaceutical Companies
Restraints
- High Cost Associated With the Implementation and Maintenance of Scm Solution
- Increase in Security & Privacy Concerns Among Enterprises
Opportunities
- Upsurge in Demand for Transportation Management SysteMS (TMS) Software
- Integration of Blockchain Technology in Scm Software
Companies Mentioned
- SAP SE
- Oracle Corporation
- JDA Software Group Inc.
- Infor
- Manhattan Associates
- Epicor Software Corporation
- The Descartes Systems Group Inc.
- HighJump
- Kinaxis Inc.
- IBM Corporation
For more information about this report visit https://www.researchandmarkets.com/r/i3ylsz
