Wilmington, DE, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Global Supply Chain Management Market Component (Solution and Service), Solution Type (Transportation Management System, Warehouse Management System, Supply Chain Planning, Sourcing & Procurement Software, and Manufacturing Execution System), Enterprise Size (Large Enterprises and SMEs), and Industry Vertical (Retail & Consumer Goods, Healthcare & Pharmaceuticals, Manufacturing, Food & Beverages, Transportation & Logistics, Automotive, and Other): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the supply chain management market was valued at $27,230.48 million in 2022 and is estimated to reach $75,557.78 million by 2032, exhibiting a CAGR of 10.9% from 2023 to 2032.
Prime determinants of growth
Rise in technological advancement & 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, increase in adoption of SCM software in healthcare and pharmaceutical companies positively impacts growth of the supply chain management market. However, lack of awareness about supply chain management software and increase in security and privacy concerns among businesses is hampering the supply chain management market growth. On the contrary, increase in advanced information and communications technology 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 | 2022–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $ 27,230.48 million |
| Market Size in 2032 | $ 75,557.78 million |
| CAGR | 10.9% |
| No. of Pages in Report | 239 |
| 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 |
| Restraints | Lack of awareness about supply chain management software Upsurge in security and privacy concerns among businesses |
Covid-19 Scenario
- The COVID-19 pandemic has influenced the growth of the supply chain management market. The market has been impacted by operational challenges, travel restrictions, and workforce impairment. Manufacturing activities have been halted due to various government regulations across the globe. Industries such as transportation, automotive, and food and beverages have all been adversely affected by the pandemic.
- However, growth in e-commerce during the pandemic has encouraged supply chain management industry players to automate and digitalize processes to cater to the growing demand. The rising need for seamless product manufacturing, distribution, and delivery has encouraged small and medium businesses to adopt efficient supply chain solutions.
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The service segment to maintain its leadership status throughout the forecast period.
Based on the component, the wired segment held the highest market share in 2022, accounting for nearly two-thirds of the global Supply chain management software market revenue, as it is used for quality assurance, supplier management, and logistics management. However, the service segment is projected to manifest the highest CAGR of 13.2% from 2023 to 2032, owing to, increase in use of SCM service more to lower risks and failures. Improved visibility, enhanced productivity, analytics, cost savings, higher agility.
The retail and consumer goods segment to maintain its leadership status throughout the forecast period
Based on industry vertical, the retail and consumer goods segment held the highest market share in 2022, accounting for nearly one-fourth of the global supply chain management software market revenue, owing to increased demand for automation in the supply chain process in the retail and consumer goods. However, the automotive segment is projected to manifest the highest CAGR of 16.3% from 2023 to 2032, increasing in use of location-based technologies for promoting applications.
Asia-Pacific maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global supply chain management software market revenue, owing to technological infrastructure in the region combined with the high adoption of advanced technologies. However, the Asia-Pacific region is expected to witness the fastest CAGR of 14.2% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to various mergers and acquisitions taking place between leading vendors.
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Leading Market Players: -
- IBM Corporation,
- Blue Yonder Group, Inc.,
- kinaxis,
- Manhattan Associates, Inc.,
- Oracle Corporation,
- SAP SE,
- Epicor Software Corporation,
- HighJump.,
- Infor,
- THE DESCARTES SYSTEMS GROUP INC.,
Key Industry Development -
August 2023: One Network Enterprises partnered with Optessa to provide one network customers with next-generation, end-to-end supply chain management capabilities.
May 2023: Accenture acquired Einr AS to optimize the flow of products from manufacturers to consumers, headquartered in Oslo, Norway. The acquisition further enhances Accenture’s SAP capabilities, helping it to accelerate supply chain reinvention for organizations within the retail and consumer electronics industries.
November 2022: Microsoft launched the Microsoft supply chain platform launch and offered a demonstration of the platform via Microsoft Supply Chain Center. Microsoft's supply chain center is designed to be compatible with an organization's supply chain applications and data. Supply chain agility and stability are closely related to how well enterprises integrate and coordinate their data across all key platforms. The Microsoft supply chain platform lays the groundwork for major organizations to design or independently adopt solutions for specific supply chain needs spanning Azure, Microsoft Teams, Power Platform, and Dynamics 365.
March 2022: Logility, Inc. announced software advancements to enhance planning capabilities across the product lifecycle. Manufacturing clients of Logility's digital platform can analyze the global relationships of their integrated supply chain via supply chain network maps.
The report provides a detailed analysis of these key players of the global Supply chain management software 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 regions. 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
