A study by Triton Market Research with the title ‘Global Supply Chain Management Software Market,’ covers the Global Analysis and Forecast for 2019-2028 by Solution (Manufacturing Execution System, Procurement & Sourcing, Warehouse Management System, Supply Chain Planning, Transportation Management System), by Deployment (Cloud-based, On-premise), by Organization Size (Small- & Medium-sized Enterprises, Large Enterprises), by Component (Solution, Service), by Industry Outlook (Automotive, Food & Beverages, Retail & Consumer Goods, Transportation & Logistics, Healthcare & Pharmaceuticals, Manufacturing, Other Industry Verticals), and by Geographical Region (Europe, Latin America, Middle East and Africa, North America, Asia-Pacific).
Supply chain management software is used to optimize the supply chains, enhance vendor relationships and network distribution channels. Companies use SCM software to gain a competitive advantage in the market.
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As per the report, the global supply chain management software market will gain $33.58 billion by 2028, showcasing a CAGR of 9.78% during the projected period between 2019 and 2028.
The booming e-commerce industry will create potential applications for the supply chain management software, which is expected to drive the growth of the global supply chain management software market. E-commerce includes management of products, warehousing, transportation and distribution. SCM software helps in smoothening this complex process. It also provides better control over the supply chain. However, support & maintenance and the software update costs of these solutions are hampering the global supply chain management software market growth.
The supply chain management software market is primarily segmented into five parts, solution, deployment, organization size, component and industry outlook. The first segment, solution, includes manufacturing execution system, procurement & sourcing, warehouse management system, supply chain planning and transportation management system. The second segment, deployment, bifurcates into cloud-based and on-premise. The third segment, organization size, is bifurcated into small- & medium-sized enterprises and large enterprises. The fourth segment, component, bifurcates into solution and service. The last segment, industry outlook, includes automotive, food & beverages, retail & consumer goods, transportation & logistics, healthcare & pharmaceuticals, manufacturing and other industry verticals.
Considering the geographical landscape, Asia-Pacific is expected to be the fastest-growing region for the supply chain management software market during the projected period. There is an increase in the deployment of cloud among small- and medium-sized companies in the region. This is likely to drive the need for supply chain management software in the forecasted years. Also, the construction and manufacturing industries are making huge investments in the SCM software for efficient operations in the industry. Besides, there is an increased awareness regarding the benefits of SCM software among the corporations, which is also likely to boost the growth of the studied market. Furthermore, the implementation of advanced technologies by different enterprises is also favoring the APAC market growth.
Major players in the supply chain management software market are Infor, Oracle, HighJump, International Business Machines Corporation, The Descartes Systems Group Inc, Manhattan Associates, SAP SE, Kinaxis, Epicor Software Corporation and Blue Yonder Group (JDA Software).
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Question & Answer: Supply Chain Management Software Market
Question 1: What are the factors driving the growth of the global supply chain management software market?
Answer: The booming e-commerce industry will create potential applications for the supply chain management software, which is expected to drive the growth of the global supply chain management software market. E-commerce includes management of products, warehousing, transportation and distribution. SCM software helps in smoothening this complex process. It also provides better control over the supply chain.
Question 2: What factors are hampering the growth of the global supply chain management software market?
Answer: Support & maintenance and the software update costs of these solutions are hampering the global supply chain management software market growth.
Question 3: How is Asia-Pacific influencing the supply chain management software market outlook?
Answer: Considering the geographical landscape, Asia-Pacific is expected to be the fastest-growing region for the supply chain management software market during the projected period. There is an increase in the deployment of cloud among small- and medium-sized companies in the region. This is likely to drive the need for supply chain management software in the forecasted years. Also, the construction and manufacturing industries are making huge investments in the SCM software for efficient operations in the industry. Besides, there is an increased awareness regarding the benefits of SCM software among the corporations, which is also likely to boost the growth of the studied market. Furthermore, the implementation of advanced technologies by different enterprises is also favoring the APAC market growth.
Question 4: Which are the major players in the supply chain management software market?
Answer: Major players in the supply chain management software market are Infor, Oracle, HighJump, International Business Machines Corporation, The Descartes Systems Group Inc, Manhattan Associates, SAP SE, Kinaxis, Epicor Software Corporation and Blue Yonder Group (JDA Software).
Related Report:
Global Enterprise Application Market
The Global Enterprise Application Market is anticipated to generate a revenue of $333.28 million by 2028, showcasing a CAGR of 7.71% during the estimated years between 2019 and 2028.
Enterprise applications provide a number of benefits to enhance the productivity and efficiency of various enterprises. It provides quick response and enables user-friendly communication. It also helps in eliminating routine tasks, like sending emails to clients by facilitating automatic messaging. By providing remote monitoring capabilities, it also lets employees work from anywhere. Due to all these advantages offered, along with the business-specific benefits, there is an increased adoption of enterprise applications like CRM, SCM and ERP.
Real-time authorizations have gained traction due to the alarming rise in the need to control and monitor huge data volumes. System downtime is not acceptable any longer in different businesses, as there is an increased pressure to achieve higher standards of availability in the online access methods. Real-time data ensures more customer satisfaction and retention. The rising demand for real-time data access is likely to create new market opportunities for the enterprise application market in the upcoming years.
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