Rise in technological advancements and investments and surge
in demand and usage of supply chain management services and
software by various enterprises and industries are the major
factors that drive the growth of the global supply chain management
market.
NEW
CASTLE, Delaware, April 29,
2024 /PRNewswire/ -- Allied Market Research published
a report, titled, "SCM Industry by Component (Solution and
Service), Solution Type (Transportation Management System,
Warehouse Management System, Supply Chain Planning, Procurement and
Sourcing, and Manufacturing Execution System), Deployment Mode
(On-premise and Cloud), Enterprise Size (Large Enterprises, and
Small and Medium-sized Enterprises), and Industry Vertical (Retail
and Consumer Goods, Healthcare and Pharmaceuticals, Manufacturing,
Food and Beverages, Transportation and Logistics, Automotive, and
Others): Global Opportunity Analysis and Industry Forecast,
2023-2033." According to the report, the global supply chain
management market generated $27.2
billion in 2022, and is estimated to reach $85.3 billion by 2033, witnessing a CAGR of 11.1%
from 2023 to 2033. The report offers a detailed analysis of
changing market trends, top segments, key investment pockets, value
chains, regional landscapes, and competitive scenarios.
Prime Determinants of Growth
Rise in technological advancements & investments and surge
in demand & usage of supply chain management services &
software by various enterprises and industries boost the growth of
the global supply chain management market. In addition, the
increase in adoption of SCM software in healthcare and
pharmaceutical companies positively impacts the growth of the SCM
industry. However, lack of awareness about supply chain management
software and increase in security and privacy concerns among
businesses hamper the supply chain management market growth. On the
contrary, the increase in advanced information and communications
technology and increase in the e-commerce sector is expected to
offer remunerative opportunities for expansion of the supply chain
management market during the forecast period.
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Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2023–2033
|
Base Year
|
2022
|
Market Size in
2022
|
$27.2
Billion
|
Market Size in
2033
|
$85.3
Billion
|
CAGR
|
11.1 %
|
No. of Pages in
Report
|
374
|
Segments
covered
|
Component, Solution
Type, Deployment Mode, Enterprise Size, Industry Vertical, and
Region.
|
Drivers
|
Rise in technological
advancement and investments
Surge in demand and
usage of supply chain management services and software by various
enterprises and industries
Increase in adoption of
SCM software in healthcare and pharmaceutical companies
|
Opportunities
|
Increase in advanced
information and communications technology
Increase of the
e-commerce sector
|
Restraints
|
Lack of awareness about
supply chain management software
Upsurge in security and
privacy concerns among businesses
|
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Russia-Ukraine War Scenario
- The Russia-Ukraine conflict has a significant impact on
the global supply chain management market on every level. The
warehouse capacity and disruption of transportation routes
availability has started fading and impacted the industry.
- The war has disrupted the trade flows between Russia, Ukraine, and other countries. This has
affected supply chain management companies to find alternative
sources for raw material and finished goods. The disruption also
led to delays in shipment, which leads to an increase in costs and
reduced customer satisfaction.
- Furthermore, the conflict has created uncertainty and risk for
businesses operating in the region. Companies deal with the risk of
sanctions which has the potential for supply chain disruptions and
the risk of doing business in a politically unstable
environment.
The solution segment to maintain its leadership status
throughout the forecast period
By component, the solution segment held the highest market share
in 2022, accounting for nearly two-thirds of the supply chain
management market revenue and is estimated to maintain its
leadership status throughout the forecast period, owing to it
helping the management team to make crucial decisions about
business strategies by adopting cost-effective measures and
improving operational efficiency. However, the services segment is
projected to manifest the highest CAGR of 12.9% from 2023 to 2033,
owing to the adoption of supply chain management services across
different industry verticals, as it assures effective functioning
of platforms and software.
The procurement and sourcing segment to maintain its
leadership status throughout the forecast period
By solution type, the procurement and sourcing segment held the
highest market share in 2022, accounting for nearly two-fifths of
the SCM industry revenue and is estimated to maintain its
leadership status throughout the forecast period, owing to rise in
need for improving procurement function along with the growth in
penetration of advanced technologies across number of industry
verticals. However, the transportation management system segment is
projected to manifest the highest CAGR of 15% from 2023 to 2033,
owing to number of transportation management system vendors and
third-party providers adopting digitized systems for supply chain
management and transportation activities.
The on-premise segment to maintain its leadership status
throughout the forecast period
By deployment mode, the on-premise segment held the highest
market share in 2022, accounting for nearly two-thirds of the
supply chain management market revenue and is estimated to maintain
its leadership status throughout the forecast period, owing to
collection, display, and organization of important data from
customer communication by means of e-mails, calls, and Chabot's
using the company's own IT infrastructure. However, the
on-demand/cloud-based segment is projected to manifest the highest
CAGR of 13.1% from 2023 to 2033, owing to the development of
sophisticated applications for efficient data management and
service delivery, which is projected to be facilitated by
improvements in information-sharing technologies and rise in use of
mobile devices.
The large enterprise segment to maintain its leadership
status throughout the forecast period
By enterprise size, the large enterprise segment held the
highest market share in 2022, accounting for nearly two-thirds of
the SCM industry revenue and is estimated to maintain its
leadership status throughout the forecast period, owing to increase
in demand for constant monitoring systems and automation features
such as advanced shipment notification management, customizable
notifications, in-transit status updates, user-configurable
dashboards, and visual supply chain maps in numerous large-sized
industries. However, the small and medium-sized enterprise (SMEs)
segment is projected to manifest the highest CAGR of 12.5% from
2023 to 2033, owing to efficiently achieving their goals by having
better operational services and meeting the target by increasing
productivity.
The retail and consumer goods segment to maintain its lead
position during the forecast period
By industry vertical, the retail and consumer goods segment
accounted for the largest share in 2022, contributing for nearly
two-fifths of the supply chain management market revenue, owing to
the growing complexity of retail supply chain networks over time
due to the presence of a large number of suppliers & logistics
providers, channels, products, and value-added offerings. However,
the automotive segment is expected to portray the largest CAGR of
16.5% from 2023 to 2033, owing to the emergence of blockchain
technology to enhance transparency, traceability, and security in
supply chain transactions, particularly for tracking the provenance
of raw materials and ensuring compliance with regulatory
standards.
Asia-Pacific region to
maintain its dominance by 2033
By region, North America held
the highest market share in terms of revenue in 2022, accounting
for nearly one-third of the SCM industry revenue, owing to
increasing technological advancements such as using business
intelligence for targeting regular customers, and introduction of
digital technologies. The Asia-Pacific region is expected to witness the
fastest CAGR of 13.3% from 2023 to 2033, owing to increase in
requirement for enhanced supply chain visibility, development of
industrial-grade digital technology, and shift in inclination of
the suppliers toward cloud-based supply chain management software
acting as growth catalysts for the overall market.
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Leading Market Players: -
- Epicor Software Corporation
- HIGHJUMP
- INFOR
- IBM Corporation
- Blue Yonder Group, Inc.
- KINAXIS
- Manhattan Associates, Inc.
- Oracle Corporation
- SAP SE
- The Descartes Systems Group Inc.
The report provides a detailed analysis of these key players of
the supply chain management market. These players have adopted
different strategies such as new product launches, collaborations,
expansion, joint ventures, agreements, and others to increase their
market share and maintain dominant shares in different countries.
The report is valuable in highlighting business performance,
operating segments, product portfolio, and strategic moves of
market players to showcase the competitive scenario.
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