According to a research report titled ‘Global Supply Chain Management Software Market 2019-2028’, available with Market Study Report, global supply chain management software market is projected to grow at a compound annual rate of 9.78% over the timespan of 2019-2028.
 

As per the report findings, rising necessity of demand management systems is the key factor stimulating global supply chain management (SCM) software market growth.
 

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, Increased application of SCM software in the e-commerce industry, rapid adoption of cloud-based supply management software, and rising trend of digitization in businesses are likely to create more opportunities in the market during the forecast period.
 

For the record, the software’s ability to generate reliable data-driven insights and provide better control over the supply chain will continue to stimulate the product demand in the upcoming years.
 

On the downside, high investment costs for setting up SCM software and proliferating instances of cybersecurity attacks are anticipated to impede market growth in the ensuing years.
 

Based on industry vertical, global supply chain management software market space is arrayed into retail & consumer goods, automotive, food & beverages, healthcare & pharmaceuticals, transportation & logistics, manufacturing, and others. By component type, solution and service segments define the industry size.
 

Moving on to deployment, the industry can be classified into cloud based and on-premise. Proceeding further, organization size segmentation comprises small and medium enterprises, and large enterprises.
 

Speaking of solutions, the industry vertical is classified into procurement and sourcing, transportation management system, supply chain planning, warehouse management system and manufacturing execution system.
 

Considering the regional outlook, North America, Latin America, Asia Pacific, Europe and Middle East & Africa are the prime contributors to the overall supply chain management software industry remuneration.
 

Asia Pacific is anticipated to account for a major portion of the market share owing to growing demand for SCM software from different application areas and rapid urbanization. Moreover, factors like spike in adoption of internet-based technologies by various organizations, high penetration of cloud-based SCM software are expanding the business horizon in APAC. Besides, increasing public awareness about the  benefits SCM software will complement the regional market growth during the forecast period.
 

Key contenders influencing global supply chain management software market trends are HighJump (Körber AG), Kinaxis, Inc., International Business Machines Corporation, Manhattan Associates, Inc., Epicor Software Corporation, The Descartes Systems Group, Inc., Oracle Corporation, Infor, Blue Yonder Group (Jda Software), and SAP SE.