Supply Chain Management Market Outlook
According to the report by Expert Market Research (EMR), the global supply chain management market size reached a value of USD 27.93 billion in 2023. Aided by the imperatives of globalisation, digital transformation, and heightened customer expectations, the market is projected to further grow at a CAGR of 11.40% between 2024 and 2032 to reach a value of USD 72.54 billion by 2032.
Supply chain management (SCM) refers to the strategic coordination and integration of various activities involved in the procurement, production, distribution, and logistics processes of goods and services. The goal of supply chain management is to streamline these interconnected operations to ensure the efficient flow of materials, information, and finances from suppliers to manufacturers, wholesalers, retailers, and ultimately, to the end consumer.
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As per the supply chain management market analysis, in an era defined by digital disruption, the adoption of advanced technologies is reshaping the sector of supply chain management. From Artificial Intelligence (AI) and Machine Learning (ML) algorithms to Internet of Things (IoT) sensors and blockchain solutions, organisations are leveraging cutting-edge tools to optimise processes, enhance visibility, and mitigate risks across the supply chain. The integration of digital technologies enables real-time tracking, predictive analytics, and proactive decision-making, empowering businesses to stay agile and responsive in the face of evolving market dynamics.
As per the supply chain management market outlook, sustainability has emerged as a core tenet of modern supply chain management, reflecting the growing awareness of environmental and social impacts. As consumers gravitate towards eco-conscious brands and ethical practices, companies are under increasing pressure to adopt sustainable sourcing strategies, reduce carbon footprint, and ensure ethical treatment of workers throughout the supply chain. From renewable energy initiatives to ethical labour practices and recyclable packaging, sustainability initiatives are not only a moral imperative but also a competitive advantage in today’s marketplace.
The disruptions wrought by the COVID-19 pandemic underscored the importance of resilience and risk management in supply chain operations in supply chain management market. From supply chain disruptions to fluctuating demand patterns and geopolitical uncertainties, businesses face a myriad of risks that can disrupt operations and jeopardise continuity. In response, organisations are prioritising risk mitigation strategies, diversifying supplier networks, and investing in contingency planning to build resilient supply chains capable of withstanding unforeseen shocks and disruptions.
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The proliferation of digital channels and the rise of e-commerce have blurred the boundaries between traditional retail and online commerce, giving rise to the omnichannel distribution model, which fuels the supply chain management market growth. Consumers expect seamless shopping experiences across multiple touchpoints, whether online, in-store, or via mobile devices. As a result, supply chain management is evolving to support omnichannel fulfilment, enabling retailers to synchronize inventory, optimize order fulfilment, and deliver personalised experiences that meet the demands of today’s omnichannel consumers.
While globalization has long been a driving force behind supply chain expansion and optimisation, recent geopolitical developments and trade tensions have prompted a reevaluation of global supply chain strategies. Many organisations are reassessing their reliance on offshore manufacturing and sourcing, opting to diversify suppliers, reshore production, or establish regional hubs closer to key markets, which fuels the supply chain management market expansion. This trend towards supply chain localisation aims to reduce lead times, mitigate risks, and enhance agility in response to changing market dynamics and geopolitical uncertainties.
Looking ahead, the market is poised for continued growth and transformation, driven by technological innovation, sustainability imperatives, and the evolving demands of a rapidly changing marketplace. As businesses navigate the complexities of an interconnected global economy, agility, resilience, and adaptability will remain paramount in ensuring supply chain success and driving sustainable business outcomes in the years to come, which can boost the supply chain management market share.
Supply Chain Management Market Segmentation
The market can be divided based on solution, deployment, organisation size, end use, and region.
Market Breakup by Solution
- Demand Planning and Forecasting
- Inventory and Warehouse Management
- Product Life-Cycle Management
- Transportation and Logistics Management
- Sales and Operations Planning
- Others
Market Breakup by Deployment
- Hybrid Cloud
- Public Cloud
- Private Cloud
Market Breakup by Organisation Size
- Large Enterprises
- Small and Medium Enterprises
Market Breakup by Organisation Size
- Retail
- Food and Beverages
- Manufacturing
- Automotive
- Oil and Gas
- Healthcare
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global supply chain management market. Some of the major players explored in the report by Expert Market Research are as follows:
- SAP SE
- Oracle Corporation
- Infor Equity Holdings LLC
- IBM Corporation
- American Software, Inc.
- Cloud Logix LLC
- Tecsys Inc.
- Epicor Software Corporation
- OM Partners nv
- Others
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