Supply Chain Management Market

Supply Chain Management Market
The global supply chain management market was valued at USD 27.2 Billion in 2022, and is projected to reach USD 75.6 Billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032. 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.

As a result of increased technological advancement, financial investments, and demand for supply chain management services and software across several enterprises and industries, the worldwide SCM industry is growing. Additionally, the expansion of the supply chain management industry is benefited from an increase in the usage of SCM software by pharmaceutical and healthcare organizations. It is projected that over the projection period, a rise in sophisticated information and communications technology would offer the SCM industry profitable opportunities to expand.

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Trends Influencing the Global Supply Chain Management Market
It is projected that increased technology investment and development will improve operational efficiency and support rising firm revenue. Additionally, these technologies are being used to improve communication, supply chain visibility, transparency, and management. Additionally, a lot of companies have been optimizing their supply chains with automation for decades. Technology advancements like intelligent automation (IA), which combines robotics and artificial intelligence (AI) to automate complex industrial processes, are accelerating transformation. Major industry players are also putting money into and using cutting-edge software technologies like cloud computing, AI, machine learning, and others in SCM. This element is anticipated to fuel the market for the supply chain management.

The increasing demand for demand and supply management solutions is one of the key factors influencing the growth of supply chain management software. Demand management refers to an organization's capacity to adjust to changes in demand or to control the volume of demand through the supply chain or marketing strategies. Demand management solutions help organizations that rely on the internet to create statistics-based projections using data, current events, and accidental circumstances. By using it to assess supply restrictions, financial estimates, customer commitments, and inventory counts, demand management enables an automated ecosystem. In order to help the marketing team, the strategy comprises anticipating demand for every good and service and prioritizing demand when supply is low. This factor is expected to drive the growth of the supply chain management market.

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Additionally, e-commerce platforms have become more and more popular, particularly during the pandemic. Online platforms provide consumers with a variety of options, which is practical and saves time and effort. E-commerce has grown in popularity over the past few years as a result of active Internet marketing and alluring promotions offered by companies. Due to the growth of the e-commerce sector, participants are using SCM solutions for efficient management, planning, and quick delivery of items to customers, which is driving the growth of the supply chain management market.

Supply Chain Management Market Share
The highest regional share of the supply chain management market was held by North America in 2022, and it is projected that this will remain the case throughout the forecast period due to the region's strong technical infrastructure and rapid adoption of cutting-edge technology. However, it is projected that Asia-Pacific would have significant growth during the projection period as a result of multiple mergers and acquisitions between leading providers.

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.

Segments covered Type, Application, Industry, Regions
Report coverage Revenue & volume forecast, company share, competitive landscape, growth factors, and trends
Geographic regions covered North America, Europe, Asia Pacific, Latin America, Middle East & Africa

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