Global Supply Chain Management Software Market To Be Driven By Rapidly Growing Research And Development (R&D) Efforts In AI Technologies And Advantageous Government Initiatives During The Forecast Period Of 2021-2026
The new report by Expert Market Research titled, ‘Global Supply Chain Management Software Market Analysis, Size, Share, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global supply chain management software market, assessing the market based on its segments like its components, applications, deployment type and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 14.27 billion
- Forecast CAGR (2021-2026): 4%
- Forecast Market Size (2026): USD 33.64 billion
Supply chain management software is being used in a variety of major industry verticals, including healthcare and retail, to simplify corporate operations and increase employee productivity. The market’s growth depends on the growing desire for openness in supply chain procedures. Consumers, for example, are requesting information on the ingredients, animal welfare, food fraud, and child labor in supply chain operations in the food and beverage sector. Consumers are prepared to spend between 2% and 10% more for products from organizations that demonstrate transparency in their company operations, according to a study done by the MIT Sloan School of Management. Additionally, the growing popularity of internet shopping is encouraging consumers to make online purchases, which can be tracked using supply chain management software. These factors are expected to have a favorable effect on the market’s growth throughout the forecast period.
Supply Chain Management Software Industry Definition and Major Segments
Supply chain management software is a management platform that enables the execution of supply chain processes such as transactions, supplier management, and business process control. These software applications aid in streamlining and optimizing corporate operations, including planning and management. This coordinated effort to organize, regulate, and streamline the supply chain is intended to increase customer satisfaction. Supply chain management encompasses all operations associated with a product, from manufacturing to consumption, increasing visibility of all processes and enabling smart decision-making in commercial activities.
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By component, the market is divided into:
By type, the market is divided into:
- Transportation Management System
- Warehouse Management System
- Supply Chain Planning
- Procurement and Sourcing
- Manufacturing Execution System
By deployment model, the market is divided into:
By organisation size, the market is divided into:
- Small and Medium Sized Enterprises
- Large Enterprises
By on end use, the market is divided into:
- Retail and Consumer Goods
- Healthcare and Pharmaceuticals
- Food and Beverages
- Transportation and Logistics
By region, the industry is categorized into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Supply Chain Management Software Market Trends
Growing awareness of the benefits of supply chain management software solutions, such as forecasting accuracy, supply chain optimization, waste minimization, and meaningful synthesis of corporate data, is accelerating market growth. Inadequate visibility in supply chain operations frequently results in supply-demand imbalances. The COVID-19 epidemic has had a lasting effect on economies throughout the world, compelling major corporations to act and sustain their operations. The pandemic reaffirmed the importance of supply chain management for corporate viability. During these recessionary times, supply chain management software solutions enabled firms to identify activities that required immediate attention or products/items that were projected to run out soon, allowing for considerably more effective management of the demand-supply gap than previously possible. The integration of sophisticated technologies such as artificial intelligence (AI) and machine learning (ML) with supply chain risk management software has the potential to grow the market and add value to its customers. Integration of innovative technology and supply chain risk management software enables better logistical and enterprise risk management. Increased investment in and implementation of these technologies creates a lucrative potential for market growth.
North America is estimated to account for a significant portion of the global supply chain management software market during the forecast period. This expansion is facilitated by the presence of key manufacturers of supply chain management software in the region. The government and prominent manufacturers in the region are progressively integrating the software technology into key industry verticals such as transportation and logistics, which include railways, airlines, and others, propelling market growth. Furthermore, the increased usage of supply chain management software in the retail sector contributes significantly to the growth of the region’s market. The Asia-Pacific market is predicted to grow significantly throughout the forecast period. The increase could be attributed to a growing awareness among organizations of the benefits of analytics solutions. Additionally, the regional market’s growth is boosted by the growing number of small and medium-sized businesses and their increasing expenditure on the implementation of cutting-edge technology to expand their operations. Factors such as advantageous government initiatives and an increase in the number of research collaborations among top market players are expected to drive the growth of the global market.
Key Market Players
The major players in the market are SAP SE, Oracle, The Descartes Systems Group, Infor, IBM, Manhattan Associates, Logility, Epicor Software Corporation, HighJump Software Inc., Blue Yonder Group, Inc. among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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