NEW YORK, May 30, 2018 (GLOBE NEWSWIRE) -- The cloud supply chain management (SCM) market size is projected to reach $11.0 billion by 2023, growing at a CAGR of 19.2% during 2017-2023. The global cloud supply chain management market is driven by factors such as increasing need for demand management solutions among business enterprises and growing adoption of cloud supply chain in transportation management.
Growing adoption of cloud supply chain management in transportation management is a major growth driver of the cloud supply chain management market. As the world’s transportation networks and supply chains become increasingly intertwisted and complex, the systems that support them are advancing and improving at a rapid pace. Software vendors have been integrating more transportation optimization capabilities into their solutions, making it easier for shippers to streamline their supply chains, while also making them more cost-and time-efficient. With increasing e-commerce market, the demand of cloud supply chain management has increased in transportation management to track the products in real time. Hence, increasing adoption of cloud-based supply chain management in transportation management is one of the major factors driving the growth of the cloud supply chain management market, globally.
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The compliance issues with cloud supply chain management is one of the major barriers in the cloud supply chain management market. Some of the heavily regulated industries do not permit the storage of crucial information on cloud. Also, most of the cloud supply chain management solutions operate in a public cloud environment, which encourages such businesses to stick to the on-premise installation. Also, the companies that want the flexibility of monitoring the position of their data, or have better access of their security, or firewall also has greater propensity to opt for the on-premise version. If an enterprise has already invested heavily in its IT infrastructure and has a dedicated in-house staff for its maintenance, it is more likely to continue with on-premise instead of cloud, due to more customization option available to them.
North America contributed the highest revenue in the global cloud supply chain management market in 2016 and is further expected to be the leading market during the forecast period due to growing awareness about cloud-based supply chain management benefits among enterprises and growing focus of the enterprises towards enhancing business continuity. Rising e-commerce market, growing adoption of cloud supply chain management in various end use industries, including energy & power, retail & wholesale, transportation & logistics, food & beverage and manufacturing, is driving the demand of cloud supply chain management across the region. Of the total revenue generated in North America in 2016, the U.S. contributed over 61%. During the forecast period, the U.S. market is also expected to grow at the faster pace.
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Some of the key players in the cloud supply chain management market include Infor, Inc., SAP SE, The Descartes Systems Group Inc., Oracle Corporation, Manhattan Associates Inc., JDA Software Group Inc., Kinaxis Inc., IBM Corporation and Logility Inc.
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