Supply Chain Management (SCM) Software Market is Expected to Reach $7.03 billion by 2025, growing at a CAGR of 14.3% by 2018 With Major Players - SAP, Oracle, JDA Software, Epicor, Manhattan Associates, Descartes Systems Group, HighJump Software, IBM

A requirement of many Supply Chain Management (SCM) Software often includes forecasting. Such tools often attempt to balance the disparity between supply and demand by improving business processes and using algorithms and consumption analysis to better plan future needs. Supply Chain Management (SCM) Software also often includes integration technology that allows organizations to trade electronically with supply chain partners.

“The “cloud-based SCM software” market is expected to reach $7.03 billion by 2023, growing at a CAGR of 14.3% during the forecast period 2018–2025.”

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Cloud technology has been around for almost 20 years now, but supply chain professionals are still reluctant to adopt cloud and migrate their systems. Though the industry is in its initial stages, cloud computing will help supply chain managers to closely track a product throughout its lifecycle. Cloud-based SCM will significantly cut down the product cost as it will locate the shipment during any stage of the transportation. With the changing supply chain environment, cloud computing will become an advantageous process, gaining more market traction over the traditional systems. While the traditional SCM is more transactional, the cloud approach offers a 360-degree control and real-time monitoring. Cloud-based SCM offers scalability, reliability, cost-effective, integrated design, and immediacy over localized SCM model.

The report has analyzed several players in the market, some of which include
SAP,
Oracle,
JDA Software,
Epicor,
Manhattan Associates,
Descartes Systems Group,
HighJump Software,
IBM,
and Kewill Systems.

Market Analysis:
The SCM market is mature, however, the emergence of cloud computing has changed the industry landscape and has improved customer experience. The “cloud-based SCM software” market is expected to reach $7.03 billion by 2023, growing at a CAGR of 14.3% during the forecast period 2018–2025. The incorporation of cloud into SCM creates myriad benefits that redefine the traditional supply chain networks, offers better supply chain visibility, helps in handling the surging data volumes and in integrating digital technologies. Moreover, the need for improved business agility, scalability, faster deployment, and reduction in TOC will drive the organizations to deploy cloud model of SCM.

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Product Analysis:
The market study of cloud-based SCM will talk about the types that include supply chain planning, procurement, manufacturing execution system, warehouse management system, and transportation management system. The procurement software market will grow due to investments from large enterprises in procurement applications and from SMEs in cloud-based procurement software. The pressing need to consolidate and improve purchasing power will drive the market toward cloud-based software. The manufacturing execution system will have the highest growth rate with rise in automation, faster ROI, stringent government regulations, reduced lead times, reduction in production cost, and better operational excellence.

Regional Analysis:
North America is estimated to have the largest market share in 2017 and is expected to maintain the same till 2023. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the growing awareness about cloud-based SCM among enterprises, especially SMEs. Factors such as rising need for infrastructure management system and shifting of workload to a cloud model will increase the market revenue.

Competitive Analysis:
The study covers and analyzes the “Cloud-based Supply Chain Management (SCM) Software” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists and other companies in understanding the companies better and take informed decisions.

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