April 19, 2021
According to the report titled ‘Global Supply Chain Management Market Size study, by Component (Solution and Services), by Solution Type (Transportation Management System, Warehouse Management System, Sourcing & Procurement, Supply Chain Planning and Manufacturing Execution System), by User Type (Large Enterprises and Small & Medium Enterprises), by Application (Retail & Consumer Goods, Healthcare & Pharmaceuticals, Manufacturing, Food & Beverages, Transportation & Logistics, Automotive and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global supply chain management market was assessed at USD 15.85 billion in 2019 and is estimated to grow with a CAGR of 11.2% over 2020-2027 to reach USD 37.1 billion.
Demand for management solutions among enterprises and firms, coupled with inclination towards cloud-based solutions are key factors boosting the growth of global supply chain management market. Furthermore, availability of industrial-grade digital technology, and emphasis on improving supply-chain visibility are augmenting the industry share.
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For the unversed, supply chain management software refers to a platform which is utilized to manage supplier relationships, complete supply chain transactions, and control related business procedures. It fortifies supply chain operations in companies by ensuring that products and information of different types flow smoothly across the supply chain network.
The report cites that moves like product launches and alliances among leading companies are favoring worldwide supply chain management market outlook. For example, SAP SE launched intelligent supply chain solution on 8th January 2019 which integrates demand, supply and maintenance planning.
On the other hand, rising security & privacy concerns among companies, and high cost of usage & maintenance of the software are major factors hindering global supply chain market expansion.
Based on type of solution, the industry is divided into warehouse management system, transportation management system, supply chain planning, sourcing & procurement, and manufacturing execution system. Speaking of application scope, the industry is segregated into retail & consumer goods, food & beverages, healthcare & pharmaceuticals, transportation & logistics, automotive, manufacturing, and others.
From the regional frame of reference, North America accounted for majority of global supply chain management market share in the past year. Integration of automation technologies in supply chain due to growing expenditure on transportation & logistics is a key factor responsible for the same. Meanwhile, Asia Pacific market is projected to witness the highest y-o-y growth rate through.
Key players profiled in global supply chain management industry report are SAP SE, International Business Machines Corporation (IBM), Epicor Software Corporation, Infor, Descartes Systems Group Inc., Kinaxis, Blue Yonder (previously known as JDA Software Inc.), High Jump Digital Co. Ltd., Oracle Corporation, and Manhattan Associates.