Supply Chain Management Market Size to Reach USD 37.41 Billion by 2027 | Valuates Reports
BANGALORE, India, July 6, 2020 /PRNewswire/ -- The global supply chain management market size was valued at USD 15.85 Billion in 2019 and is projected to reach USD 37.41 Billion by 2027, growing at a CAGR of 11.2% from 2020 to 2027.
Supply chain management software provides a real-time analytical platform, which manages the flow of product and information across the supply chain network The demand for SCM is driven by factors such as growing awareness among companies globally about cloud SCM and reducing ownership costs. Organizations' increasing need for an efficient method to build and manage supply chain processes and activities is driving the growth of the SCM market size during the forecast period.
The need for mass production and connected supply chains to cater to the growing population, are expected to fuel the growth of the supply chain management market size.
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FACTORS INFLUENCING THE SUPPLY CHAIN MANAGEMENT MARKET SIZE
Factors such as low deployment cost, increasing use of industrial automation in processing industries, growing regulatory compliance are expected to increase the SCM market size.
By integrating emerging digital business innovations such as mobile, machine learning, in-memory technologies, multi-enterprise visibility, and the Internet of Things (IoT), SCM providers are already differentiating themselves from rivals and driving revenue growth.
The growing impact of digital commerce will drive greater investment in supply chain analytics, smart machines, IoT and associated SCM software to accelerate decision-making
and eradicate inefficiencies. Thus, growing technological advancements are expected to increase the SCM market size.
SUPPLY CHAIN MANAGEMENT MARKET SHARE
The cloud-based segment is expected to witness the highest CAGR in the Supply Chain Management market, due to its numerous benefits to industry verticals, such as reliability, scalability, integrated design, cost-effectiveness and immediacy over the traditional SCM model.
Based on the region, North America is expected to hold the largest SCM market share during the forecast period. The growth of the market is driven by the rise in spending on transportation & logistics, which is boosting the implementation of automation technologies in logistics and supply chain.
SUPPLY CHAIN MANAGEMENT MARKET SEGMENTATION
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This report provides a complete quantitative data and qualitative analysis on the global market for Cloud Supply Chain Management. Market size is analyzed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.
North America dominated the overall market in 2017, due to the presence of a large transportation industry. However, Asia-Pacific is expected to witness the highest growth rate during the forecasted period.
This report studies the global Supply Chain Management Software (SCMS) Market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.
The global Healthcare Supply Chain Management market size is projected to reach USD 2267.5 Million by 2026, from USD 2060.6 Million in 2020, at a CAGR of 9.3%% during 2021-2026.
Companies determined to curb the rising healthcare costs have played a vital role in driving market growth. Furthermore, the demand for a quality inventory management system, better patient care as well as compliance with government regulations has helped the growth of Healthcare Supply Chain Management Market size.
In 2018, the global Supply Chain Management Solutions market size was USD 14080 Million and it is expected to reach USD 29040 Million by the end of 2025, with a CAGR of 10.9% between 2019 and 2025.
The Supply Chain Management Solutions Market is classified based on type and application. Based on the type, the market is further segmented into Cloud-Based and On-Premise.
The on-premise segment is expected to hold the largest Supply Chain Management Solutions Market share, which accounted for 83.82% in 2019. On the other hand, the cloud-based segment accounted for a 16.18% market share in 2019.
This report focuses on the global Supply Chain Planning Software status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the Supply Chain Planning Software development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
The report offers an exhaustive geographical analysis of the global Logistics and Supply Chain Management Software market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.
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