Pune, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Supply Chain Management Market Size Analysis:
“The SNS Insider report indicates that the Supply Chain Management Market was valued at USD 26.2 billion in 2023 and is expected to reach USD 65.8 billion by 2032, growing at a CAGR of 10.8% from 2024-2032.”
The supply chain management (SCM) market is witnessing a surge in demand across various sectors, significantly fueled by the ongoing digital transformation and the increasing complexity of supply chain networks. As businesses adapt to evolving consumer expectations, there is a pressing need for efficient supply chain solutions that can streamline processes, enhance transparency, and drive sustainability. One of the primary factors propelling this growth is the dramatic rise in e-commerce. For instance, with sales surpassing $50 billion in the U.S. in 2023, expected to nearly triple by 2026. This trend illustrates the blurring lines between social media and online shopping, as more consumers engage in purchasing directly through social platforms. As online shopping becomes the norm, businesses are increasingly challenged to ensure that products are delivered quickly and efficiently. This has led to a heightened emphasis on logistics and distribution networks.
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Major Players Analysis Listed in this Report are:
- Oracle - (Oracle E-Business Suite, Oracle Supply Chain Management Cloud)
- SAP - (SAP ERP, SAP S/4HANA)
- IBM - (IBM Watson Supply Chain, IBM Sterling Supply Chain Solutions)
- Microsoft - (Microsoft Dynamics 365 Supply Chain, Microsoft Azure IoT)
- Infor - (Infor CloudSuite Supply Chain, Infor Nexus)
- JDA Software - (JDA Demand Planning, JDA Warehouse Management)
- Manhattan Associates - (Manhattan Warehouse Management, Manhattan Transportation Management)
- Kinaxis - (Kinaxis RapidResponse, Kinaxis Demand Planning)
- Logility - (Logility Demand Planning, Logility Inventory Optimization)
- E2open - (E2open On-Demand Network, E2open Collaboration Cloud)
- BluJay Solutions - (BluJay Global Trade Network, BluJay Warehouse Management)
- C.H. Robinson - (C.H. Robinson 3PL, C.H. Robinson TMS)
- FedEx - (FedEx Ground, FedEx Express)
- UPS - (UPS Ground, UPS Air)
- DHL - (DHL Express, DHL Supply Chain)
- Kuehne + Nagel - (K+N Contract Logistics, K+N Seafreight)
- DB Schenker - (DB Schenker Logistics, DB Schenker Rail)
- Ryder - (Ryder Dedicated Transportation, Ryder Supply Chain Solutions)
- XPO Logistics - (XPO LTL, XPO Intermodal)
- Schneider National - (Schneider Truckload, Schneider Dedicated)
Supply Chain Management Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 26.2 billion |
| Market Size by 2032 | USD 65.8 billion |
| CAGR | CAGR of 10.8% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | •Sustainability focus encourages companies to implement eco-friendly supply chain practices and lower their carbon emissions. •Cloud-based platforms enable real-time visibility, scalability, and cost-effective operations. |
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Technological advancements play a crucial role in this market expansion. The integration of AI and machine learning enables businesses to analyze data effectively, forecast demand accurately, and make informed decisions. For instance, according to a report, 67% of organizations plan to implement AI for demand forecasting and supply chain management within the next two years, highlighting a significant shift toward data-driven decision-making. Similarly, IoT devices enhance visibility across the supply chain, allowing organizations to track inventory and shipments in real time, leading to improved operational efficiency and customer satisfaction.
Moreover, sustainability is becoming an essential component of supply chain management. Companies are recognizing the importance of reducing their carbon footprint and are increasingly adopting eco-friendly practices. This shift not only meets consumer demand for sustainability but also aligns with government regulations aimed at promoting environmentally responsible business practices.
Segmentation Analysis
By Component
In 2023, the solution segment dominated the market, accounting for more than 54.8% of the market share. Supply chain management (SCM) solutions are used for numerous functions, which include quality assurance, inventory management, vendor management, supplier management, and logistics management. These solutions provide various benefits, such as improved visibility, enhanced efficiency, advanced analytics, cost reduction, greater agility, and better compliance in complex supply chains. They automate essential processes like order processing, billing, and order tracking, which helps cut down on time and administrative costs.
By Deployment
In 2023, The on-premise segment dominated the market and represented the largest market share of 49.9%. This segment has long been preferred by many organizations for its perceived benefits in control, security, and compliance. Companies using on-premise supply chain management (SCM) systems have direct oversight of their data and systems, allowing them to customize configurations to meet specific operational needs. Moreover, the cloud-based segment is anticipated to experience the highest growth at a CAGR during the forecast period. More organizations are turning to cloud-based solutions because of their increased adaptability and flexibility in supply chain processes. This approach offers several advantages, such as enhanced processing capabilities, larger storage options, cost-effective pricing models, and lower operational costs. A survey by Accenture found that about 21% of supply chain executives have implemented cloud-enabled capabilities throughout their supply chains. The growing use of cloud computing by businesses around the globe is boosting market growth. According to the EU, approximately 42.0% of enterprises in Europe have embraced cloud computing for their operations.
Supply Chain Management Market Segmentation:
By Component
- Solution
- Transportation Management System
- Planning & Analytics
- Warehouse & Inventory Management System
- Procurement & Sourcing
- Manufacturing Execution System
- Services
- Professional Services
- Managed Services
By Deployment
- On-premise
- Cloud
By Enterprise Size
- Large Enterprises
- SMEs
By Vertical
- Retail & e-Commerce
- Healthcare
- Automotive
- Transportation & Logistics
- Food & Beverages
- Manufacturing
- Others
Regional Landscape
North America held the largest market revenue share of 39.8% in 2023 and is expected to remain dominant throughout the forecast period. This growth is fueled by a high number of software adopters and rapid technological advancements in the region. Furthermore, the presence of key players like IBM, Microsoft, Telus International, and Infor contributes to market expansion in this area.
The supply chain management industry in India is experiencing notable growth, fueled by the expanding manufacturing sector, a growing consumer base, and rapid developments in e-commerce. This growth has created a rising demand for advanced solutions that enhance logistics operations, optimize warehouse management, and incorporate technologies such as cloud computing, AI, and IoT for real-time visibility and data-driven decision-making.
Recent Developments
- In May 2023, Accenture and Blue Yonder revealed plans to strengthen their strategic partnership to enhance supply chains by leveraging Accenture's technology and industry expertise.
- In April 2023, Oracle introduced upgraded artificial intelligence (AI) and automation features designed to assist customers in optimizing their supply chain management processes.
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Key Takeaways
- Detailed analysis of the current trends, challenges, and opportunities within the supply chain management market, offering valuable insights for stakeholders.
- The crucial role of advanced technologies like AI, IoT, and cloud computing in shaping the future of supply chain management.
- The growing importance of sustainability initiatives and eco-friendly practices in supply chain operations, aligning with consumer and regulatory demands.
- The market growth with a clear focus on regional developments, enabling businesses to strategize effectively for future investments in supply chain management.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Supply chain management Market Segmentation, by Enterprise Size
8. Supply chain management Market Segmentation, by Deployment
9. Supply chain management Market Segmentation, by Component
10. Supply chain management Market Segmentation, by Vertical
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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