A recent report published by
Infinium Global Research on the supply chain management market provides in-depth
analysis of segments and sub-segments in the global as well as regional supply
chain management market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional supply chain management
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global supply chain
management market. According to the report, the global supply chain management
market is projected to grow from USD 19.84 Billion in 2021 to USD 40.47 Billion
in 2027 with a CAGR of 12.6% over the forecast period of 2021-2027.
Supply chain management enables
enterprises to source the materials necessary to create a product or service and
deliver it to customers. A timely supply chain information allows manufacturers to
make and ship only as many products as can be sold. An effective supply chain
systems help both manufacturers and retailers reduce excess inventory. Manufacturers
with a just-in-time supply chain can automatically restock retail shelves as
products are sold. As collaboration has increased, the data from supply chain
partners has allowed companies to use advanced analytic tools.
The rise of e-commerce, with its
focus on nearly instant small deliveries straight to consumers, is driving the
growth of the supply chain management market. A number of strategies such as
lean manufacturing and newer approaches such as demand-driven material
requirements planning is prove helpful. In addition, supply chain management
reduces operating costs. By applying technology, organizations can lower
operating costs. For example, managing based on demand keeps organizations from
over-producing. This not only reduces labour and raw materials costs but also
cuts down on inventory management costs and transportation costs. A rapid
technological advancement in the transportation and logistics sector, provide a
growing demand for supply chain management solutions. Furthermore, the need for
greater transparency and visibility in supply chain processes, is attributing
to the growth of the market. The demand for blockchain technology is increasing
for supply chain management solutions as it increases the transparency of the
supply chain and positively affect the logistics processes. In addition, rising
adoption of supply chain management among SMEs, driving the growth of the
market. In addition to this, the integration of AI capabilities with supply chain
management (SCM) will provide a lucrative opportunity for SCM vendors in the
long run. Moreover, regulatory compliances require very robust supply chain
management systems making supply chain management ever more difficult. The
U.S., the European Union and others have created, new reporting requirements
for large companies that manufacture or handle physical products. These
requirements are applied even if the
company engages a third party to manage its supply chain. This imposes a
challenge for the supply chain management market. However, growing security and
privacy concerns among enterprises are affecting the growth of the market.
North America dominated the global
supply chain management market and is projected to remain dominant during the
forecast period. The rise in spending on transportation & logistics, is
boosting the implementation of automation technologies in logistics and supply
chain. Furthermore, increasing adoption of supply chain management solutions in
transportation management is anticipated to drive the market growth in North
America. In addition, rapid urbanization, is contributing to the growth of the
supply chain management market in North America.
The report on global supply chain
management market covers segments such as component, solution type, user type, and
industry vertical. On the basis of component, the sub-markets include solution and services. On the basis of solution type, the sub-markets include
transportation management system, warehouse management system, sourcing &
procurement, supply chain planning, and manufacturing execution system. On the
basis of user type, the sub-markets include small & medium sized
enterprises, and large enterprises. On the basis of industry vertical, the
sub-markets include retail & consumer goods, healthcare &
pharmaceuticals, manufacturing, food & beverages, transportation &
logistics, automotive, and others.
The report provides profiles of
the companies in the market such as The Descartes Systems Group, Manhattan
Associates, SAP SE, Oracle, Infor, IBM, Kinaxis, Blue Yonder, Coupa Software, and
Other.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of supply chain management market. Moreover, the study highlights
current market trends and provides forecast from 2021-2027. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.