Supply Chain Management Software Market is Forecasted to Reach US$ 47.51 Billion in 2028, Says Stratview Research

The global supply chain management software market is projected to witness a growth rate of 10.37% annually from 2023 to 2028, with an anticipated size of US$ 47.51 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global supply chain management software market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 47.51 billion
Growth (CAGR): 10.37% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Supply Chain Management Software Market:

The global supply chain management software market is segmented based on type, component type, industry vertical type, solution type, and region.

Based on type - The supply chain management software market has been classified into Small & Medium Sized Enterprises, Large Enterprises. Large enterprises dominated the supply chain management market in 2022, and this trend is expected to continue during the forecast period, owing to increased adoption of SCM software to integrate this software into their existing software and inventories.
Furthermore, the small and medium-sized enterprises segment is expected to grow at the fastest CAGR during the forecast period, owing to an increase in the adoption of cloud-based SCM software, which provides SMEs with a cost-effective and efficient solution.

Based on component type - The market is divided into Services and Solutions. The solution category will have the biggest market share in 2022 and is expected to remain the most dominant as well as the fastest-growing segment during the forecast period. They are used for supplier management, logistics management, and quality assurance.
Advantages include improved visibility, higher efficiency, analytics, cost savings, increased agility, and increased compliance throughout the complex supply chain. It assists in the automation of complex procedures such as order processing, billing, and order tracking, saving time and money on administrative expenditures.

Based on industry vertical type - The market has been classified into healthcare, automotive, food and beverage, manufacturing, and others. Because of the manufacturing industry's growing requirement for supply chain automation, the manufacturing segment will have the largest market share in 2022 and is expected to maintain its dominance during the forecast period.
Manufacturers can improve their manufacturing processes and lower operational expenses by installing a robust Supply Chain Management Software solution.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/2759/supply-chain-management-software-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America accounted for the largest market share in 2022 and is expected to grow at a healthy CAGR during the forecast period. This growth outlook is majorly attributed to the following-

• Because it is a technologically advanced region with a high number of early adopters and the presence of major market players, North America is expected to contribute the highest market share in terms of revenues during the forecast period.
• The region's need for SCM is being fueled by technological advancement and a focus on making supply chain functions such as logistics, warehousing, fulfillment, production, and transportation management more efficient. Furthermore, the presence of stringent supply chain regulations and trade agreements across the region is a driver of SCM.

Supply Chain Management Software Market Drivers:

Some of the key drivers listed in the report are given below.
• Advances in industrial-grade digital technology, and an increased preference for cloud-based supply chain management software.
• The increased need for improved supply chain visibility contributes significantly to the market's growth.
• Lack of IT infrastructure in developing countries, as well as an increase in security and privacy concerns.
• Supply chain software helps achieve this by optimizing inventory levels, reducing lead times, and improving order accuracy.
• Advances in technology such as artificial intelligence, machine learning, and the Internet of Things (IoT) have enabled supply chain management software to become more intelligent and connected. This has led to the development of advanced analytics capabilities, predictive modeling, and automation of routine tasks.
• Increasing government regulations around product safety, traceability, and sustainability have forced businesses to adopt more robust supply chain management practices. Supply chain software helps meet these requirements by providing end-to-end visibility and traceability of products and materials.

Top Companies in the Supply Chain Management Software Market:
Stratview Research has identified the following companies as the top market players.
• SAP SE (Germany)
• Oracle (US)
• The Descartes Systems Group (Canada)
• Infor (US)
• IBM (US
• Manhattan Associates (US)
• Logility (US), Kinaxis (Canada)
• Blue Yonder (US)
• Korber (US)
• Coupa Software (US)
• Epicor (US)
• BluJay Solutions (US)
• Llamasoft (US).

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Supply Chain Management Software Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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• Artificial Intelligence in Supply Chain Market: https://www.stratviewresearch.com/3283/artificial-intelligence-in-supply-chain-market.html

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