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Smart And Mobile Supply Chain Solutions Global Market Report 2024 To 2033 | SAP SE, Oracle Corporation, JDA Software Group, Manhattan Associates Inc., Epicor Software Corporation
Smart And Mobile Supply Chain Solutions Market Share
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According to The Business Research Company's, The smart and mobile supply chain solutions market size has grown rapidly in recent years. It will grow from $21.55 billion in 2023 to $23.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to globalization and complex supply chains, rise of e-commerce, demand for real-time visibility, cost reduction and operational efficiency.
The smart and mobile supply chain solutions market size is expected to see rapid growth in the next few years. It will grow to $37.02 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to blockchain technology adoption, artificial intelligence (ai) and machine learning (ml), sustainability and green supply chains,resilience planning and risk management, integration with 5g networks. Major trends in the forecast period include advancements in iot and sensor technologies, mobile technology proliferation, data analytics and ai, cloud computing, blockchain technology.
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Market Drivers and Trends:
The increasing adoption of 5G networks is expected to drive the smart and mobile supply chain solutions market. 5G is the 5th generation mobile network for higher speed and responsiveness in wireless networks. With increased 5G network speed, bandwidth, and lower latency, there is better supply chain connectivity, and stakeholders have a quicker and better-connected experience across the supply chain. According to a 2022 study conducted by Verizon, a US-based telecommunications company, and Incisiv, a US-based consumer industry insights company, overall 5G adoption stands at about 13%, which is expected to triple by 2024. Therefore, the increasing adoption of 5G networks drives the market for smart and mobile supply chain solutions.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
SAP SE, Oracle Corporation, JDA Software Group, Manhattan Associates Inc., Epicor Software Corporation, International Business Machines Corporation (IBM), The Descartes Systems Group Inc., Blue Yonder Group Inc., Infor, Magaya Corporation, Dassault Systèmes, Körber AG, Honeywell International Inc., Logility Inc., Kinaxis Inc., GT Nexus Inc., E2open LLC, BluJay Solutions, Elemica Inc., One Network Enterprises, Amber Road Inc., LeanLogistics Inc., MercuryGate International Inc., Transplace Inc., Freightgate Inc., Shipwell Inc., FourKites Inc., project44 Inc., Loadsmart Inc., Convoy Inc.
Smart And Mobile Supply Chain Solutions Market 2024 Key Insights:
• The smart and mobile supply chain solutions market size is expected to see rapid growth in the next few years. It will grow to $37.02 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• 5G Network Adoption Accelerating Growth In The Smart And Mobile Supply Chain Solutions Market
• Technology Advancements Transforming The Smart And Mobile Supply Chain Solutions Market
• North America was the largest region in the smart and mobile supply chain solutions market in 2023
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