Farmington, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The Global Supply Chain Management Market Size Was Valued At USD 18,446 Million In 2022 And Is Expected To Expand At A CAGR Of 10.9% From 2022 To 2030. The process of managing a chain of products and services is called supply chain management. Processes can be done at the place where the product is made to make it easier for people to use. Supply chain management is mostly about keeping track of and making connections between how services and goods are made, distributed, and moved. The growth of e-commerce and the resulting growth of e-commerce has led to a rapid rise in the demand for supply chain solutions, which is driving the growth of the supply chain management market. Consumers get benefits from e-commerce businesses like better management, planning, and on-time delivery of goods and services.
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Recent Developments:
- In May 2022, Kinaxis introduced its new Planning and said that it was a big step forward for advanced analytics in supply chain planning. At Kinexions, 2022, its annual supply chain innovators conference, it will use an AI-based analytical approach. Planning is an important part of the Kinaxis Rapid Response platform. AI is the only way to plan multiple things at the same time in a way that automatically finds the best mix of heuristics, optimization, and machine learning.
- In March 2022, Descartes said that its Descartes ShipRush multi-carrier parcel and less-than-truckload (LTL) shipping solution had been integrated with its suite of e-commerce warehouse management systems (WMS). Customers can improve their warehouse and shipping performance with a single solution thanks to this integration.
- In March 2022, Blue Yonder and Snowflake made a deal to work together to make it easier to access different kinds of data for supply chain management. Blue Yonder's Luminate Platform, which is powered by Snowflake, is an end-to-end supply chain solution that helps retailers, manufacturers, and third-party logistics providers (3PLs) better predict, prevent, and fix business disruptions to reduce risks and meet growing industry supply chain challenges.
- In February 2022, Oracle added a new solution to Oracle Fusion Cloud Channel Revenue Management called Supplier Rebate Management. Channel Revenue Management, which is a part of Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), automates trade programme processes and settlements in the cloud.
- In February 2022, Oracle announced that Bharti Airtel (Airtel) had chosen Oracle Fusion Cloud ERP and Oracle Fusion Cloud SCM to digitise and simplify its finance, planning, and supply chain processes.
Regional Outlook:
In 2021, North America made the most money from the market and is expected to continue to do so for the next few years. The market is growing because there are a lot of people who use this kind of software in the area and because the area is very technologically advanced. Key players like IBM, Microsoft, Telus International, and Infor, among others, all operate in the region, which is another important factor in the growth of the market. Because of the above factors, North America has a higher rate of using SCM software and brings in more money.
During the time frame of the forecast, Asia Pacific is expected to grow the most. The market in this area is growing because there are more opportunities there and there are different kinds of investments in SCM.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 10.9% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 18,446 Million |
| By Type | Cloud-based, On-premise, SaaS-based, Other |
| By Application | Retail & E-commerce, Healthcare, Automotive, Transportation & Logistics, Food & Beverages, Manufacturing, Others |
| By Enterprise | Small and Medium-Sized Enterprises, Large Enterprises, Other |
| By Companies | Descartes Systems, IBM Corporation, Infor, JDA Software, Oracle Corporation, SAP SE |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
Technology is a big part of how modern businesses work. Large businesses have their own IT departments to manage and keep up with business processes. Most start-ups and small businesses, on the other hand, don't have their own IT departments. The reason is that managing and maintaining IT departments costs more money. That's why most small businesses and start-ups are moving to a cloud-based SCM system. Their IT department can benefit from a cloud management system without having to hire more staff at extra cost. This frees up the staff to focus on running the day-to-day business. A cloud-based SCM's storage flexibility gives SMEs a great deal of scalability and will help with growth that is hard to predict during the first year of business. Cloud-based SCMs also make it easy for small and medium-sized businesses to keep track of their inventory and react quickly to the latest business trends. For example, cloud-based SCM buys products that help SMEs position themselves as efficient and competitive players among other businesses, while also offering attractive pay-as-you-go models like cost savings and real-time payments through the cloud. Cloud-based SCM systems can also be used by small businesses to drive corporate strategies to boost sales and profits. So, the cloud SCM market is expected to grow during the period of the forecast and the high rate of adoption by SMEs means that cloud supply chain providers have a lot of opportunities.
Market Opportunities:
Technology improvements in information and communication are making it easier for supply chains to change. For the digital supply chain of the future to work, technologies like IoT, cloud computing, 5G, block chain, AI, 3D printing, and robotics are all very important. Transparency and accountability, for example, are important parts of real-time tracking supply chains that work well. Now, GPS monitors can track everything from where deliveries are being made to what the temperature is right now. This gives logistics professionals the most up-to-date information they need to fully understand how their supply chain works. During the on-going COVID-19 pandemic, it is helpful to be able to track high-value items and goods in real time. Using IoT data and device check-ins, every step in the delivery management chain can be mapped and checked. For example, IoT devices can automatically flag shipments whose temperatures are too high or too low. This keeps customers from getting goods that go bad quickly.
Market Restraints:
When businesses use cloud-based SCM, they have to worry about security and privacy. Businesses have sensitive data that needs to be kept safe to prevent theft and data breaches, which can hurt the company's reputation as a whole. Corporate information can get out over the Internet and be used by people who shouldn't have access to it. This is a growing worry for businesses. For example, a cloud-based transportation management system needs a multi-tenant architecture with a single version of the software running on servers that are shared by multiple customers. So, it is possible that the company's subscribers will be able to see the data of a competitor. These security problems can also threaten the safety of a company's data and its ability to compete in the business world. So, these concerns about security and privacy are making businesses more worried and slowing the growth of the cloud SCM market over the next few years.
Key Segments Covered:
Top Market Players:
Descartes Systems, IBM Corporation, Infor, JDA Software, Oracle Corporation, SAP SE, and others.
By Type
- Cloud-based
- On-premise
- SaaS-based
- Other
By Application
- Retail & E-commerce
- Healthcare
- Automotive
- Transportation & Logistics
- Food & Beverages
- Manufacturing
- Others
By Enterprise
- Small and Medium-Sized Enterprises
- Large Enterprises
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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