Demand Planning Software Market 2023: Size, Share, Growth Report

The global demand planning solutions market size is expected to reach $6.8 billion by 2028, rising at a market growth at 10.2% CAGR during the forecast period.

Demand planning is part of the supply chain management process that empowers businesses to customize production, goods, and services by analyzing customer demands. Spreading awareness about the benefits of these solutions, including improved customer satisfaction, decreased inventory costs, reduced excessive storage, minimized wastage, and enhanced efficiency in overall production. These are the factors that drive demand planning market growth. In addition, adopting advanced planning and analytics tools and software among different industries like IT, retail, and healthcare is anticipated to promote market growth during the forecast period. Moving on, these industries are adopting demand planning solutions to recover from the COVID-19 impact.

COVID-19 Impact Analysis

Most businesses are adopting new planning processes to handle the COVID-19 requirements effectively. As a result, various enterprises have witnessed sizable growth in utilizing demand forecasting software. Companies' main focuses are on revamping demand programs, improving and maintaining forecasts, optimizing the supply chain, investigating the need for new products, and creating robust business processes. To provide recovery from COVID-19, firms must consider and understand their supply chain network. As a result, businesses from diverse industries leverage these solutions to drive innovation and market growth.

Deployment Insight

When it comes to deployment, the market is fragmented into two sectors, on-premises and cloud-based. The on-premises segment is responsible for the largest market share. But the cloud-based segment is aggressively expanding at a high CAGR during the forecast period. With massively growing online adoption, cloud-based solutions offer applications that supersede the capabilities of on-premises systems. Agility and adaptability are essential components of any planning solution, as witnessed by the ever-changing supply chain eco-system. Cloud-based systems are considered more cost-effective, eventually increasing your profit margins.

Industry Insight

Demand planning and forecasting in e-commerce and retail help predict future sales using historical data, market trends, and sales cycles. Demand planning software used by businesses can easily automate time-consuming and constantly error-making processes and turns them into a seamless and efficient way to operate end-to-end demand forecasting. This solution also helps e-commerce by offering various advantages, including reduced inventory expenses, a better pricing strategy that reflects demand, and upgraded financial decision-making.

Enterprise Size Insight

As mentioned earlier, the market is divided into small and mid-sized enterprises and large enterprises. Small and mid-sized enterprises have a significant market share. The growing number of these businesses across the globe and their increasing expenditure are looking to raise the market growth over the forecast period. Mid-sized enterprises were primarily affected by the COVID-19 impact due to lockdowns, which is influencing businesses to use demand forecasting software.

Regional Insights

North America is responsible for the largest revenue share and is expected to keep its dominance in the coming years. The presence of various tech giant companies offering demand management software like Avercast, IBM, Blue Ridge Solutions, grouped with well-known technologically backed infrastructure and many users of such software, is boosting the market growth in the region. That's why using demand planning solutions in North America contributes to more revenue generation.

The Asia Pacific region is expected to observe the highest CAGR from 2022 to 2030. This area of the globe is well-equipped with the technology required to adopt demand planning solutions, supporting regional market extension. The pandemic has accelerated digital acceptance in economies like China and India, vastly impacting the market structure and growth.

Who Should Benefit from The Demand Planning Report?

Anybody directly or indirectly involved in the value chain cycle of this industry needs to be up to speed on the key indicators and recent significant trends in the market for supply chain solutions.

Agencies and marketers who do their due diligence in choosing demand forecasting software for large organizations.

Vendors and analysts looking for intelligent demand management software to make their predictions seamless and easy to interpret.

Various competitors who would like to stay relevant and set their own benchmark with market position and to stand in current scenarios.

Avercast's Demand Planning Software is not just enabling organizations to predict demand accurately. It also empowers them to sense, analyze, plan, and shape demand to manage both long-term and short-term margin and sales performance.

Avercast LLC
Ohio
Cleveland,
4500 Rockside Rd.
Suite 120,
Independence, OH 44131 USA

Avercast is a supply chain management software as a service company that helps companies get the right product to the right place at the right time. We offer a comprehensive supply chain management software suite that includes several modules for proper demand planning, including sales and operations software, capacity planning software, supplier connections software, ERP integration, and much more! We have helped save millions of dollars in inventory expenses and would love to show you how we can save your company money through a demo of the software or quick call! Sign up for free today at https://www.avercast.com/schedule-a-demo or visit: https://www.avercast.com/demand-planning-software.

This release was published on openPR.