Supply Chain Management Software Market Size, Share, Growth Factors, Trends, and Forecast 2024-2030

MMR recently released a report titled "Supply Chain Management Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030." The study provides a detailed analysis, including the global Supply Chain Management Software Market share, size, growth, trends, and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

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Supply Chain Management Software Market was valued at USD 31.19 Bn in 2023 and is expected to grow at 9.3% CAGR from 2024 to 2030, reaching USD 58.13 Bn by 2030.

Drivers of the Supply Chain Management Software Market

Increased Demand for Operational Efficiency

SCM software makes automation possible, which lowers human error and boosts productivity overall, resulting in more effective operations. Real-time tracking and data analytics are provided by SCM software, which improves supply chain visibility. Businesses may monitor shipments, manufacturing plans, and inventory levels to find inefficiencies and bottlenecks and make quicker decisions for more efficient operations.

Technological Advancements

Algorithms using AI and ML can evaluate vast amounts of data to forecast changes in demand, spot inefficiencies, and suggest useful insights. IoT devices, including sensors and GPS trackers, make it possible to monitor industrial processes, warehouse conditions, and commodities in transit in real time. Blockchain-enabled SCM software guarantees end-to-end visibility, enables quicker and safer transactions.

Supply Chain Management Software Market Segmentation

By Component: The Supply Chain Management Software Market is divided into three segments: services, software, and hardware. Software manages essential supply chain operations, whereas hardware consists of gadgets like sensors and GPS. Services include integration and consultancy. With on-premises implementation, companies may handle SCM software in-house, giving them greater operational control and customisation.

By Organization Size: SMEs want scalable, cloud-based, reasonably priced systems with streamlined functionality. Large businesses need sophisticated, adaptable, and all-inclusive supply chain management (SCM) solutions that provide end-to-end features and real-time information to manage intricate, international supply chains.

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Supply Chain Management Software Market Regional Analysis

North America: The supply chain management (SCM) software market is dominated by North America because of the region's strong infrastructure, high adoption rates, major companies like SAP and Oracle, and technical breakthroughs. SCM solutions are being adopted by businesses more often for supply chain resilience, operational efficiency, and digital transformation, which is propelling regional growth.

Asia-Pacific: The Asia-Pacific Supply Chain Management Software Market is gaining dominance due to industrial centers, quick digital transformation, expanding e-commerce, and affordable cloud solutions. Growing international commerce, more investments, and an emphasis on sustainability are all advantageous to the area. These elements fuel the need for cutting-edge SCM software across a variety of sectors.

Supply Chain Management Software Market Competitive Landscape

SAP: SAP purchased experience management pioneer Qualtrics for approximately $8 billion. SAP purchased Ariba, a supplier of cloud-based supply chain management and procurement solutions, for $4.3 billion.

Oracle: Oracle acquired NetSuite, a well-known supplier of cloud-based ERP and company management software for $9.3 billion. PeopleSoft was purchased by Oracle for approximately $10.3 billion.

Recent Developments:

Suppliers of supply chain management software, such as SAP and IBM, have integrated blockchain technology into their products.
Companies like Microsoft and Infor now provide fully integrated cloud-based SCM platforms, demonstrating the notable expansion of cloud-based solutions.

Conclusion

The need for automation, predictive analytics, and end-to-end visibility is greater than ever as companies deal with the increasing complexity of supply chain management.
Additional developments that improve real-time decision-making, sustainability, and cooperation are key to the SCM software market's future.

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