DUBLIN--(BUSINESS WIRE)--The "Supply Chain Management Software Global Market Opportunities and Strategies to 2030: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
The market is expected to grow from $14,655.8 million in 2019 to $19,023.3 million in 2023 at a rate of 6.7%.
The growth is mainly due to the increasing demand for supply chain management software fueled by supply chain disruptions caused by the pandemic.
The market is expected to grow from $19,023.3 million in 2023 to $22,147.7 million in 2025 at a CAGR of 7.9%. The market is expected to grow and reach $29,016.4 million in 2030 with a CAGR of 5.6%.
The supply chain management (SCM) software market consists of sales of supply chain management software and related services by entities (organizations, sole traders and partnerships) that produce supply chain management software, including businesses that are involved in design, documentation, installation and support services, production, and distribution of supply chain management software. Companies in this industry undertake operations such as transportation management systems, warehouse management systems, supply chain planning and procurement software for both small- and medium-sized enterprises and large enterprises.
Growth in the historic period resulted from emerging markets growth, technology development and increased internet penetration. This growth was restricted by data breaches, software piracy and customization difficulties.
Going forward, cost savings due to SCM software and increasing demand for SCM software due to COVID-19 are expected to drive the market. Intense competition, security challenges and open source software are major factors that could hinder the growth of the SCM software market in the future.
The supply chain management software market is segmented by product into transportation management system, warehouse management system, and supply chain planning and procurement software. The supply chain planning was the largest segment of the supply chain management market by product, accounting for 34.6% of the total market in 2019. Going forward, procurement software is expected to be the fastest growing segment in the supply chain management software market, at a CAGR of 6.2%.
The supply chain management software market is also segmented by industrial vertical into consumer goods, healthcare & pharmaceuticals, food & beverages, transportation & logistics, others. The others was the largest segment of the supply chain management software market by industrial vertical, accounting for 38.1% of the total market in 2019. Going forward, the healthcare & pharmaceuticals segment is expected to be the fastest growing segment in the supply chain management software market, at a CAGR of 6.5%.
The supply chain management software market is also segmented by type of end user into small & medium-sized enterprises (SMEs) and large enterprises. The large enterprise was the largest segment of the supply chain management software market by type of end user, accounting for 63.2% of the total market in 2019. Going forward, the small & medium-sized enterprises segment is expected to be the fastest growing segment in the supply chain management software market, at a CAGR of 5.7%.
North America was the largest region in the global supply chain management software market, accounting for 44.6% of the total in 2019. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the supply chain management software market will be South America and Middle East, where growth will be at CAGRs of 8.9% and 8.3% respectively. These will be followed by Africa and North America, where the markets are expected to register CAGRs of 6.5% and 5.8% respectively.
The supply chain management software market is fragmented, with a large number of small players in the market. The top ten competitors in the market made up to 58.7% of the total market in 2019. Major players in the market include SAP SE, Oracle Corporation, Yonder Group, Inc. (JDA Software), Coupa Software Inc., Infor Global Solutions, E2open, LLC, Descartes Systems Group, WiseTech Global, Jaggaer, and Manhattan Associates.
Key Opportunities
- The top opportunities in the global supply chain management software market segmented by product will arise in the procurement software segment, which will gain $1,709.2 million of global annual sales by 2023.
- The top opportunities in the supply chain management software market segmented by industrial vertical will arise in the others segment, which will gain $1,160.6 million of global annual sales by 2023.
- The top opportunities in the supply chain management software market segmented by type of end-user will arise in the large enterprises segment, which will gain $2,729.3 million of global annual sales by 2023.
- The supply chain management software market size will gain the most in the USA at $1,421.2 million.
Companies Mentioned
- SAP SE
- Oracle Corporation
- Yonder Group, Inc. (JDA Software)
- Coupa Software Inc.
- Infor Global Solutions
For more information about this report visit https://www.researchandmarkets.com/r/iepry
