Supply Chain Management Market was worth USD 23.3 billion in 2020 and projected to reach USD 51.0 billion in 2028 |Size & Global Industry Forecast

Supply Chain Management Market

The Supply Chain Management Market was calculated around USD 23.3 billion in 2020 and is expected to grow at a CAGR of 10.3% over the forecast period (2021-2028). and expected to reach USD 51.0 billion in 2028.

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The factors driving the growth of the Supply Chain Management Market includes rapid growth in the e-commerce sector, increasing demand for enhanced visibility and transparency in supply chain data and processes, development of industrial-grade digital technology and improvements in the living standards. According to the report published by Statista, the revenue generated by the E-commerce in India in India is estimated to reach USD 99.44 billion by the end of 2022, growing at a CAGR of 18.48% over the forecast period (2022-2025), which will accelerate the Supply Chain Management Market share in the approaching years. Moreover, integration of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) with supply chain management software and increasing demand for supply chain management software by healthcare and pharmaceutical companies, are some of the additional factors supplementing the Global Supply Chain Management Market. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products, growing disposable incomes and rapid urbanization, are further contributing towards the market growth.

However, growth of the Supply Chain Management Market is hindered due to rising concerns related to security and privacy.

The prominent players operating in the market are Manhattan Associates, American Software, Inc., Kinaxis, SAP SE, Oracle, IBM Corporation, Blue Yonder Group, Inc., Infor, THE DESCARTES SYSTEMS GROUP INC., and Körber AG, among others.

Based on Organization Size, the Small and Medium-sized enterprises segment is predicted to expand at a significant CAGR during the forecast period

Increased adoption of pay-as-you-go model by SMEs for managing IT infrastructure, is the major factor pushing growth of the segment.

Based on Vertical, the FMCG segment is projected to capture the largest market share over the forecast period

Supply chain management solutions help FMCG companies to track inventory and shipments and reduces operating cost, are propelling growth of the segment.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Presence of the leading companies such as Oracle, IBM Corporation and Manhattan Associates, growing adoption of advanced technologies by major players, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the Supply Chain Management Market size in North American region.

Key Development

In 2020, Infor partnered with MphRx and developed a global situation to help the healthcare companies to manage the COVID-19 vaccine with the real-world clinical data.

Market Segmentation

Segmentation by Component

Hardware
Software
Services

Segmentation by Deployment Mode

Cloud
On-Premise

Segmentation by Organization Size

Small and Medium-sized enterprises
Large enterprises

Segmentation by Vertical

Retail and Ecommerce
Healthcare
Manufacturing
Automotive
Transportation and Logistics
FMCG
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.