SCM Software Market: A Global Perspective - Insights 2024

The scm software market size has grown rapidly in recent years. It will grow from $36.72 billion in 2023 to $43.26 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to emerging markets growth, an increasing demand for scm software due to covid-19 and an increased internet penetration.

The scm software market size is expected to see rapid growth in the next few years. It will grow to $83.74 billion in 2028 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to rising utilization of cloud computing, a growing e-commerce industry and cost savings due to scm software. Major trends in the forecast period include focus on artificial intelligence in scm, product innovations, focus on supply-chain technology management in business operations, sustainability solutions, use of blockchain in supply chain management, use of digital supply chain twin (dsct), use of 5g technology, focus on continuous intelligence (ci), focus on supply chain governance and security and focus on partnerships and collaborations.

Market Overview -
Supply chain management software refers to a program, platform, or set of tools that help streamline and manage a company's end-to-end supply chain processes, from assessment and forecasting to managing supplier relationships.

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Streamlining Supply Chains With Advanced Scm Software Solutions
SCM software's can manage the complexities of the modern-day supply chain. With businesses going global and increased competition, the supply chains are getting complex. The number of suppliers, orders received/completed, variety of product offerings, information generated etc. all have increased substantially. Using SCM software, the complexity can be reduced along with cost and resource savings. The need for companies to remain relevant in the market amidst the highly competitive conditions is a crucial driver for the growth of the SCM software market.

Competitive Landscape -
Major companies operating in the scm software market report are SAP SE, Oracle Corporation, Panasonic Corporation, Koch Industries, Coupa Software Inc, Kinaxis Inc., Manhattan Associates, E2open LLC, WiseTech Global, JDA Software Group Inc, Epicor Software Corporation, Kewill Systems, BluJay Solutions, Dassault Systèmes SE, Vanguard Software Corporation., Zaragoza Logistics Center (ZLC), IBM Corporation, Amadeus, Blue yonder, Verizon connect, Infor, Descartes Systems Group, Melcombe Partners, GT Nexus, High Jump, IFS, SPS Commerce, Inc, Pronto Cargo Logistics & Supply Chain, Fox Brazil , Imexlog Logistica Aduaneira Perfect Solutions, Vendorful, Smart Software, Procure Xperts, OdooTecxii, AxolonERP, Trackmatic

Data Security Risks In Evolving Supply Chains Pose Challenges For Scm Software Industry.
Supply chains are continuously evolving with data at the center of every stage in the value chain. With a huge amount of data generated, there is an enormous challenge in the form of data and IT security risks. Protecting the privacy and still sharing data across the supply chain is a major challenge which could become a roadblock for the SCM software industry. The Target breach was caused by lax security at an HVAC vendor wherein personal information of as many as 70 million people was compromised. The information stolen included customer names, credit or debit card number, the card's expiration date and CVV number.

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Key Segments -
The scm software market covered in this report is segmented -
1) By Product: Transportation Management System, Warehouse Management System, Supply Chain Planning, Procurement Software, Manufacturing Execution System
2) By Industrial Vertical: Consumer Goods, Healthcare And Pharmaceuticals, Food And Beverages, Transportation And Logistics, Other Industrial Verticals
3) By User Type: Small And Medium-Sized Enterprises (SMES), Large Enterprises

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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