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Supply Chain Management Market by Component (Solution and Services), Solution Type (Transportation Management System, Warehouse Management System, Sourcing & Procurement, Supply Chain Planning, and Manufacturing Execution System), Deployment Model (On-pre
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%
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Trends Influencing the Global Supply Chain Management Market:
1. Need for enhanced visibility and popularity of cloud-based solutions
2. The rapid adoption of TMS and blockchain integration
3. Cost inefficiency and privacy concerns
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Based on user type, the large enterprises segment will dominate in the supply chain management market share. However, the small and medium scale enterprises are expected to provide lucrative opportunities for growth due to the extensive adoption of cloud-based solutions which are cheaper, provide fast decisions leading to a better competitive edge.
Based on industry vertical, retail and consumer goods are expected to provide huge scope for growth in the supply chain management market share as this industry requires SCM services which will help in mitigating risks and offering shipment delivery in a timely manner.
Based on deployment model, the on-premise segment will provide lucrative opportunities for growth in the supply chain management market share as they ensure reliability, consistency, speed, and control over connectivity. However, the cloud segment will grow the fastest due to the high adoption rate in small and medium-scale enterprises.
Based on region, North America is the leading segment in the supply chain management market share due to technological advancements, early adoption, and strict rules regarding supply chain management. On the other side, Asia-pacific will grow the fastest due to huge infrastructure investments.
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