The ‘Global Supply Chain Management Market Size, Share, Demand, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global supply chain management market, assessing the market on the basis of its segments like solution, deployment, organisation size, end use, and major regions.
Global Supply Chain Management Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Around USD 25.07 Billion
- Forecast CAGR (2023-2028): 11.40%
- Forecast Market Size (2028): Approximately USD 47.1 Billion
Supply chain management systems give organisations more transparency and control over the production process, allowing them to manage inventory, orders, distribution channels, and delivery procedures more efficiently. Supply chain management systems also provide organisations with various business insights based on analysed data to predict any upcoming hindrance in the supply chain. Hence, various organisations are rapidly adopting supply chain systems resulting in the global supply chain management market growth.
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Cloud-based supply chain management solutions help small and medium organisations to reduce staff requirements and hence, assist in cost optimisation for the enterprise. These solutions are built to perform tasks traditionally handled by employees, like keeping digitised records of business inventory, warehouse tracking, procuring status, production numbers, and fluctuating supply and demand. These records are saved on cloud storage, which can be accessed from anywhere at any point of time.
The introduction of new and better technology, including the incorporation of artificial intelligence and machine learning, further propels the growth of the global supply chain management market. These technologies provide quicker and more in-depth analysis of data, providing organisations enough time to develop strategies against future disturbances or alter their daily practices to increase their revenues. Moreover, growing digitisation and increasing penetration of IoT across the globe are assisting businesses to collect more relevant and detailed data through such solutions.
Global Supply Chain Management Industry Definition and Major Segments
Supply chain management software is a set of software that assists in micro-managing all the steps in the production process, including procurement, management, assembling, and deployment. All these software work together to provide business insights and maintain a synchronised flow of goods, ensuring businesses’ constant survival and growth.
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By solution, the global supply chain management market is divided into:
- Demand Planning and Forecasting
- Inventory and Warehouse Management
- Product Life-Cycle Management
- Transportation and Logistics Management
- Sales and Operations Planning
- Others
Based on deployment, the market is categorised into:
- Hybrid Cloud
- Public Cloud
- Private Cloud
By organisation size, the market is segmented into:
- Large Enterprises
- Small and Medium Enterprises
On the basis of end use, the market is divided into:
- Retail
- Food and Beverages
- Manufacturing
- Automotive
- Oil and Gas
- Healthcare
- Others
The major regional markets for supply chain management include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Supply Chain Management Market Trends
The emergence of a circular supply chain promoting the use of recyclable and discarded raw materials into the manufacturing process to utilise resources to their full potential and reduce wastage is expected to positively impact the market. Hence, the need for efficient supply chain management solutions is increasing to cope with these evolving market practices. However, organisations’ security and privacy concerns regarding sensitive data may pose as a challenge to the market growth.
The transportation and logistics management systems hold a significant share of the global supply chain management market. These systems allow organisations to estimate freight and transportation charges more accurately, thus, assisting in effectively planning transportation activities. The transportation management system is required at every phase of the production process, from procurement to deployment. With the introduction of new technologies in transport management systems, accurate data can be easily accessed including, the best performing vehicles and latest trends in the market, further assisting organisations in figuring out better routes to keep fuel consumption under check.
North America is expected to show significant growth over the forecast period owing to the increasing number of organisations adopting supply chain management software to improve their performance and generate more revenues. Moreover, the presence of research and development agencies constantly working towards adding new features to these systems is further propelling the growth of the supply chain management market.
Key Market Players
The major players in the global supply chain management market report are SAP SE, Oracle Corporation, Infor Equity Holdings LLC, IBM Corporation, American Software, Inc., Cloud Logix LLC, Tecsys Inc., Epicor Software Corporation, and OM Partners nv, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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