The global supply chain management market size was valued at $15.85 billion in 2019, and is projected to reach at $37.41 billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027.
The global supply chain management market size was valued at $15.85 billion in 2019, and is projected to reach at $37.41 billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027. The growth of the SCM market is supplemented by several factors, such as rapid advancements in industrial-grade digital technology, increase in inclination towards cloud-based supply chain management software, and a rise in the need for improved supply chain visibility.
However, market growth is impeded by a lack of IT infrastructure in the underdeveloped nations and an increase in security & privacy concerns.
In the current scenario, factors such as development of industrial-grade digital technology, surge in need for improved supply chain visibility, 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 the 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.
Based on user type, large enterprises segment dominated the global supply chain management software market in 2016, and is expected to continue this trend during the forecast period, owing to an increase in adoption of SCM software to integrate this software into their existing software and inventories. Furthermore, the small- & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to surge in adoption of cloud-based SCM software, as it provides a cost-effective and efficient solution for SMEs.
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Some of the key market players profiled in the report include SAP, Oracle Corporation, JDA Software Group, Inc., Infor, Manhattan Associates, Epicor Software Corporation, The Descartes Systems Group Inc., HighJump, Kinaxis Inc., and IBM Corporation. These market players have implemented a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their status in the industry.
The global supply chain management software market was led by the transportation & logistics segment in 2016, and is projected to maintain its dominance during the forecast period. However, the retail segment is expected to witness the highest growth, owing to increase in adoption of SCM software among retailers to gain competitive advantage, due to rise in competition between e-commerce and omnichannel players.
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In 2016, the global supply chain management software market was dominated by the supply chain planning segment, and is expected to maintain this trend during the forecast period. However, the warehouse management systems segment is expected to witness the highest growth, owing to rise in demand for the extended warehouse management system to support in-store inventory and order management.
Restraints and Opportunities:
- 1. Lack of IT infrastructure in the underdeveloped nations
- 2. Growing Security and Privacy Concerns
- 4. Rising demand for transportation management systems (TMS) software
- 5. Growth in the Internet of Things (IoT)
Key Findings of the Supply Chain Management Software Market Study:
- • By user type, the small- & medium-sized enterprises segment is expected to exhibit significant growth in the global supply chain management software market during the forecast period.
- • In 2016, North America accounted for the highest revenue among the other regions.
- • Based on industry vertical, the transportation & logistics segment generated the highest revenue in 2016.
- • By product type, the warehouse management systems segment is anticipated to exhibit substantial growth during the forecast period.
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