North America Supply Chain as A Service Market to Reach USD 7.85 Billion at 7.5% CAGR | Smart Logistics, Smart Future: SCaaS in the Spotlight

The growth of the North America SCaaS market is driven by unprecedented growth of the retail industry, surge in consumer expectations, and increased requirement for managing logistics services. Additionally, the integration of blockchain technology along with the advent of omni-channel supply chain approach would create lucrative opportunities for new market players in the near future. However, concerns regarding data protection and security significantly hamper market growth.

According to the report, the SCaaS market in North America accounted for $4.47 billion in 2017 and is expected to reach $7.85 billion by 2025, growing at a CAGR of 7.5% during the forecast period, 2018-2025.

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The present and future trends in the North America supply chain as a service (SCaaS) market are delineated to assess the overall appeal of the market. Key influential factors underscore the opportunities in the North America SCaaS market throughout the forecast period. Factors such as the burgeoning retail industry and the heightened demand for efficient logistics management contribute to the anticipated increase in demand for supply chain as a service (SCaaS). Additionally, a substantial upsurge in customer expectations over the past few years is a significant driving force behind the North America SCaaS market. Nevertheless, concerns related to data security are expected to hinder market growth. Furthermore, the integration of blockchain technology and the adoption of an omni-channel supply chain approach are projected to present substantial growth prospects for the North America SCaaS market.

The retail industry is currently experiencing rapid growth on a global scale, fostering seamless interactions among producers, creators, manufacturers, online and offline retail platforms, and consumers. This intricate process involves the management of a continuous supply of products, warehousing, inbound and outbound transportation, distribution, and other elements. Supply chain as a service plays a pivotal role in simplifying these complex processes within the retail industry, thereby significantly contributing to the expansion of the North America supply chain as a service market. According to a U.S. Census report, the U.S. retail industry generated $1.14 trillion in 2017, representing 5.9% of the U.S. GDP, signaling substantial growth in the retail sector in this region. Furthermore, the increasing globalization, a growing number of distributors, and the heightened use of value-added supply chain services in the retail sector are key factors propelling the North America SCaaS market's growth. Additionally, the rising need for strategic planning and enhanced visibility of inventory, enabling retailers to allocate stocks and meet customer demands, is expected to further drive the growth of supply chain services, thereby boosting market expansion.

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When it comes to order fulfillment, consumer expectations rise significantly, with a desire for prompt product delivery upon payment. The rise of e-commerce platforms enables consumers to manage, compare, and even return products, placing a substantial burden on companies to meet these expectations and deliver exceptional logistics performance. This has led to a growing demand for outsourcing such services to supply chain-as-a-service providers. Additionally, these service providers play a pivotal role in reshaping buyer expectations, emphasizing the importance of efficient logistics to remain competitive in the market.

The increasing digitization of freight transportation within the supply chain is creating new opportunities for supply chain-as-a-service providers. Emerging technologies like blockchain are anticipated to facilitate the integration of different systems into a unified and trusted chain, presenting significant growth prospects in the coming years. The enhanced data flow across supply chain processes supports the adoption of supply chain-as-a-service, particularly benefiting blockchain technology. The blockchain's ability to connect all stakeholders in the supply chain is expected to fuel market growth. According to the Blockchain in Transport Alliance (BiTA), blockchain is poised to connect various systems and partners in the supply chain, offering substantial opportunities for market expansion.

Moreover, truck manufacturers are incorporating sensors, smart telematics, and software into their vehicles, enabling them to function not only as carriers but also as supply chain-as-a-service providers, overseeing all processes. These blockchain-driven opportunities are anticipated to enhance the end-to-end management of freight transportation effectively.

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By application, order management is poised to register the highest CAGR of 8.4% from 2018 to 2025, on account of growing demand to track real-time inventory levels & shipment status by vendors & customers, along with the increasing need to manage the complexities associated with such orders. However, the logistics management segment would continue to dominate the North American market and generate almost two-fifths of the continental revenue by 2025.

By organization size, large enterprises segment would continue to maintain its stronghold over the North American market and occupy more than four-fifths of the overall share by 2025. This is attributed to the adoption of SCaaS by large enterprises to effectively manage the cost associated with obtaining goods & business expansion. However, the small & medium enterprises segment would register the highest CAGR of 11.3% during the forecast period.

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The United States accounted for 92.1% of the market revenue in 2017. The country is expected to maintain its dominance due to expansion and ongoing developments in retail, manufacturing, transportation, and other industrial sectors.

Leading Market Players:

➢ CEVA Logistics
➢ DHL International GmbH (Deutsche Post DHL Group)
➢ FedEx Corporation
➢ GEODIS (SNCF Mobilits Group)
➢ Kuehne+Nagel
➢ TATA Consultancy Services Limited
➢ United Parcel Service (UPS)
➢ XPO Logistics, Inc.
➢ Zensar Technologies Ltd

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