Supply Chain Management Market by Size, Component (Solution and Services), Solution Type (Transportation Management System, Warehouse Management System, Sourcing & Procurement, Supply Chain Planning, and Manufacturing Execution System), Deployment Model (

Supply Chain Management Market Size

The supply chain management market was valued at USD 18,699.45 Million in 2020, and is projected to reach USD 52,632.37 Million by 2030, registering a CAGR of 10.7%. Key drivers of the supply chain management market include the growing need for increased supply chain visibility and demand for cloud-based management software in healthcare and pharma companies.

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Trends Influencing the Global Supply Chain Management Market

Need for enhanced visibility and popularity of cloud-based solutions

The need for increasing complete supply chain transparency benefits a company and its customers. This increases a company's brand value, leads to better customer satisfaction, and increases real-time tracking of inventory levels or defective products. eCommerce and the online shopping boom have necessitated the need for greater access to data and information at all levels. The stakeholders gain better control over several performance metrics. The use of automation, RFID tags, and cloud-based solutions enhance the operational processes in the supply chain from shipment to final delivery. These factors will drive the growth of the supply chain management market during the review period.

The rapid adoption of TMS and blockchain integration

Transportation is an essential part of an organization's supply chain as it starts from raw material transfer to warehouses till the final delivery of the finished product at the customer's doorstep. Companies seek to lower transportation costs as it covers up nearly 60% of the total operational costs. Transport management systems reduce shipping costs as it identifies all the financial backlogs of all logistical routes. The ability to keep a proper tab on inventory management in real-time proves advantageous, especially in the age of booming eCommerce freight. Furthermore, blockchain has the potential to provide end-to-end decentralized digital tracking of every physical asset and its transactions thereby providing more transparency. Hence supply chain management market is expected to rise rapidly in the coming years.

Cost inefficiency and privacy concerns

Supply chain management solutions are costly to deploy and install. The upgradation, maintenance, and running costs are huge and there is a lack of good network infrastructure. Moreover, supply chain management is a multifaceted thing with complex and layered levels involving many stakeholders. Malicious, ransomware attacks from insiders and related third or fourth-party vendors are a reality. These factors will hamper the growth of the supply chain management market during the forecast period. However, covid 19 and the ensuing lockdowns have disrupted the entire supply chain processes of various companies. These will lead to the rapid adoption of SCM solutions ultimately fueling the market growth.

Supply Chain Management Market Share

Based on components, the solution segment is expected to dominate the supply chain management market share. However, the services segment will grow tremendously during the forecast period. Based on solution type, procurement and sourcing was the highest segment in the supply chain management market share. On the other hand, the transportation management system will grow the fastest during the forecast period.

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Supply Chain Management Market Segmentation

By Component
• Solution
• Services

By Solution Type
• Transportation Management System
• Warehouse Management System
• Sourcing & Procurement
• Supply Chain Planning
• Manufacturing Execution System

By User Type
• Small & Medium Sized Enterprises
• Large Enterprises

By Industrial Vertical
• Retail & Consumer Goods
• Healthcare & Pharmaceuticals
• Manufacturing
• Food & Beverages
• Transportation & Logistics
• Automotive
• Other

By Region
• North America
• Europe
• Asia-Pacific
• LAMEA

By Deployment Model
• ON-PREMISE
• ON-DEMAND/CLOUD-BASED

By Companies
• Epicor Software Corporation
• Highjump
• Infor
• International Business Machines Corporation
• Jda Software Group, Inc.
• Kinaxis Inc.
• Manhattan Associates
• Oracle Corporation
• Sap Se
• The Descartes Systems Group Inc.

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Similar Reports:

1. Warehouse Management Systems Market Size: https://reports.valuates.com/market-reports/ALLI-Auto-0A93/warehouse-management-systems

2. Healthcare supply chain management market: https://reports.valuates.com/reports/QYRE-Othe-1Z479/healthcare-supply-chain-management

3. Cloud supply chain management market: https://reports.valuates.com/market-reports/QYRE-Auto-12I2276/global-cloud-supply-chain-management

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