Press release
SaaS-based SCM Market Trends, Size, Share, Growth, Research Report Industry Forecast
SaaS-based SCM Market
Asia-Pacific is expected to observe highest growth rate during the SaaS-based SCM market forecast period. Strong economic growth along with the ongoing development in the services sector, has driven business enterprises to invest heavily in SaaS-based SCM to sustain their growth and improve productivity. In addition, factors such as growth in penetration of mobility, rise in cloud deployment among small & medium businesses, and ongoing modernization of manufacturing & construction industries drive heavy investment in SaaS-based SCM in the emerging countries. Also, Asia-Pacific is expected to witness highest growth rate in the upcoming years owing to rise in awareness about the advantages of SaaS-based SCM among enterprises.
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Growth in demand for real-time supply chain analysis, technology progress in digital supply chain industry, and increase in ICT spending primarily drives growth of the SaaS-based SCM market. In addition, the factors such as development of industrial-grade digital technology and upsurge in need for improved supply chain visibility fuels the market growth. Moreover, surge in need for demand management solutions among enterprises and increase in adoption of SaaS-based SCM software in healthcare and pharmaceutical companies further boosts the growth of the market.
However, security concern over cloud deployment among enterprises is expected to impede the market growth. On the contrary, upsurge in demand for transportation management systems (TMS) software is expected to create major opportunities for market expansion in the upcoming years.
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Post COVID-19, the global SaaS-based SCM market was valued at $7,314.32 million in 2020, and is projected to reach $25,980.18 million by 2030, registering a CAGR of 13.42%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. This is attributed to rapid growth in demand for SCM software due to supply chain disruptions triggered by the COVID-19 pandemic. In addition, there is huge demand for online shopping in several areas, which requires food & beverage, manufacturing, and logistics companies to increase their investments in automation, including the automation of supply chains. Thus, fueling the growth of the market.
Some of the key SaaS-based SCM industry players profiled in the report are SAP SE, Oracle Corporation, Blue Yonder Group, Inc., Infor, Manhattan Associates, The Descartes Systems Group Inc., HighJump (Korber AG), Kinaxis Inc., and IBM Corporation. This study includes market trends, SaaS-based SCM market analysis, and future estimations to determine the imminent investment pockets.
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