According to a recent report published by Allied Market Research, titled,"North America Supply Chain as a Service (SCaaS) Market by Component, Application, Organization Size, and Industry Verticals: Opportunity Analysis and Industry Forecast, 2018 - 2025,"the North America Supply Chain as a Service market size was valued at $4,478.20 million in 2017 and is projected to reach $7,854.40 million by 2025, growing at a CAGR of 7.5% from 2018 to 2025.
North America Supply Chain as a Service market trends include significant growth of the retail industry driven by factors such as proliferation of mobile devices and internet penetration in emerging economies with increase in requirement for managing logistics services among several end users. In addition, rise in consumer expectations is expected to fuel the growth of the North America SCaaS Market. Moreover, rise in need of strategic planning and better visibility of inventory allow retailers to allocate stocks and meet the customer requirements, which is expected to fuel the demand for supply chain services. However, security concerns pertaining to enterprise critical information among end users is the major factor that impedes the market growth.
Furthermore, integration of blockchain technology and omni-channel supply chain approach are expected to provide lucrative growth opportunities for the North America Supply Chain as a Service (SCaaS) market.
Based on application, the logistics management segment dominated the overall North America supply chain as a service (SCaaS) market in 2017 and is expected to remain dominant during the forecast period, due to increase in need of improving customer service along with reduction in overall expenses of the company. Further, the order management segment is also expected to grow at a rapid pace throughout the forecast years.
U.S. accounted for the highest share of the North America Supply Chain as a Service market size in 2017 and is projected to remain dominant during the forecast period owing to presence of major market players in the country. In addition, the advancements in transportation and logistics industry is also a major factor fueling the U.S. market. Further, Canada is also expected to attain the highest CAGR for the North America SCaaS Market Share during the forecast period. The growth of Canada is mainly attributed to rise in imports and exports with the U.S.
Key Findings of the North America SCaaS Market:
- Based on component, the solutions segment is expected to exhibit significant share in the North America Supply Chain as a Service (SCaaS) market during the forecast period. Significant number of clients prefer to adopt supply chain service solutions to bring efficiency in supply chain management.
- Based on application, the logistics management segment generated the highest revenue share in 2017. With the growth in customer expectations, the need to improve customer services is increasing.
- Based on North America Supply Chain as a Service (SCaaS) Market Analysis of the region, the U.S. supply chain as a service industry is anticipated to experience rapid growth during the forecast period due to the presence of major market players in this region. In addition, expansion and ongoing developments in retail, manufacturing, transportation, and other industries are further expected to fuel the North America SCaaS Market growth in coming years.
Some of the key market players profiled in the report include Accenture, CEVA Logistics, DHL International GmbH (Deutsche Post DHL Group), FedEx Corporation, GEODIS (SNCF Mobilits Group), Kuehne+Nagel, TATA Consultancy Services Limited, United Parcel Service (UPS), XPO Logistics, Inc., Zensar Technologies Ltd., and others.