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2021
Supply Chain Management Market

Supply Chain Management Market by Component (Solution and Services), Solution Type (Transportation Management System, Warehouse Management System, Supply Chain Planning, Sourcing & Procurement Software, and Manufacturing Execution System), Deployment Model (On-Premise and Cloud Based), User Type (Small & Medium-sized Enterprises (SMEs) and Large Enterprises), and Industry Vertical (Retail & Consumer Goods, Healthcare & Pharmaceuticals, Manufacturing, Food & Beverages, Transportation & Logistics, Automotive, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2030

A04292
Pages: 382
Oct 2021 | 41465 Views
Author(s) : Vikas Gaikwad and Rachita Rake
Tables: 173
Charts: 82
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COVID-19

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Supply Chain Management Market Statistics: 2030

The supply chain management market was valued at $18,699.45 million in 2020, and is projected to reach $52,632.37 million by 2030, registering a CAGR of 10.7%. Advancements in industrial-grade digital technology, increase in inclination toward cloud-based supply chain management software, and rise in need for improved supply chain visibility majorly contribute toward the supply chain management market growth. However, lack of IT infrastructure in the underdeveloped nations and increase in security & privacy concerns hamper the growth of the supply chain management software market.

The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. This is attributed to the rapid growth in demand for SCM software due to supply chain disruptions triggered by the COVID-19 pandemic. In addition, there is huge demand for online shopping in several areas, which requires food & beverage, manufacturing, and logistics companies to increase their investments in automation, including the automation of supply chains. Thus, fueling the growth of the SCM industry.

In 2020, the supply chain management market share was dominated by the Procurement and sourcing segment, and is expected to maintain this trend during the forecast period. The major role of procurement & sourcing is to obtain supplies at the lowest possible price. Sourcing mainly focuses on lowering prices, improving quality, and achieving efficiencies on a regional as well as global level. While procurement refers to the mechanics of purchasing, which includes making timely payments and filling out order forms. However, the transportation management system segment is expected to witness the highest growth. The digital revolution is changing the landscape of the transportation business, due to which number of transportation management system vendors and third-party providers are adopting digitized systems for supply chain management and transportation activities, which is positively impacting the growth of the SCM industry. 

Supply-Chain-Management--Market

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The on-premise segment led the supply chain management market in 2020, and is expected to continue to remain dominant in the near future. On-premise based supply chain management solution allows organizations to have control over security & other connectivity issues and improves the scalability, speed, reliability, and connectivity of organizations. However, cloud-based SCM software is expected to witness highest growth rate, due to rise in adoption of cloud-based SCM software in small- & medium-sized enterprises.

By user type, the large enterprises segment dominated the supply chain management market in 2020, and is expected to continue this trend during the forecast period, owing to increase in adoption of SCM software to integrate these software into their existing software and inventories. Furthermore, the small & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to surge in adoption of cloud-based SCM software, as it provides cost-effective and efficient solution for SMEs.

The global supply chain management market was led by the retail & consumer goods segment in 2020, and is projected to maintain its dominance during the forecast period due to rise in adoption of SCM software among retailers to gain competitive advantage, due to rise in competition between e-commerce and Omni channel players. However, the automotive segment is expected to witness the highest growth during the forecast period. 

The report focuses on the growth prospects, restraints, and global supply chain management market analysis. The study provides Porter’s five forces analysis of the global SCM market forecast to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the global supply chain management market trends.

Segment Review

The supply chain management market is segmented into component, solution type, deployment model, user type, industry vertical, and region. By component, the market is bifurcated into solution and services. 

By solution type, it is classified into transportation management system, warehouse management system, supply chain planning, sourcing & procurement software, and manufacturing execution system. By deployment model, the market is divided into on-premise and cloud based. By user type, it is bifurcated into small & medium-sized enterprises (SMEs) and large enterprises. Depending on industry vertical, it is fragmented into retail & consumer goods, healthcare & pharmaceuticals, manufacturing, food & beverages, transportation & logistics, automotive, and other. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Impact Analysis

Post COVID-19, the size of the supply chain management (SCM) market is estimated to grow from $18,699.45 million in 2020 and projected to reach $52,632.37 million by 2030, at a CAGR of 10.7%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. This is attributed to the rapid growth in demand for SCM software due to supply chain disruptions triggered by the COVID-19 pandemic. In addition, there is huge demand for online shopping in several areas, which requires food & beverage, manufacturing, and logistics companies to increase their investments in automation, including the automation of supply chains. Thus, fueling the growth of the SCM industry.

Supply Chain Management Market
By Component

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Services segment is projected as one of the most lucrative segments.

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Due to this outbreak, number of industries are affected and maintaining the complex supply chain networks would be difficult for them, which is expected to drive the demand for SCM software. For instance, according to a survey conducted by "Institute for Supply Chain Management Organization" in March 2020, almost 75% of the companies reported global SCM disruptions in one form or other due to the corona virus related transportation restrictions and it is further expected to increase in the upcoming few weeks.

Top impacting factors    

The growth of the global supply chain management market size is driven by development of industrial-grade digital technology, surge in need for improved supply chain visibility, and increase in inclination toward cloud-based supply chain management software. Moreover, surge in need of demand management solutions among enterprises and increase in adoption of SCM software in healthcare and pharmaceutical companies further boosts the growth of the market. However, high cost associated with the implementation and maintenance of SCM solution and increase in security & privacy concerns among enterprises are expected to impede the supply chain management market growth. On the contrary, upsurge in demand for transportation management systems (TMS) software and integration of blockchain technology in SCM software are expected to present major opportunities for market expansion in the near future.

Supply Chain Management Market
By Solution Type

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Transportation management system segment is projected as one of the most lucrative segments.

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Surge in need for improved supply chain visibility 

Supply chain management allows supply chain manager to monitor exactly where their current operations performing or underperforming, so that they can be prepared for minor problems, and redirect resources for the significant outcomes. In addition, it generates data-driven, reliable solutions. Which can be used to make improvements in efficiency of business operations. , supply chain management software provides better visibility to organizations with a cross-functional access and offers exception-based process management platforms that enable staff to micro-manage steady-state processes. This fuels the adoption of supply chain management software among the end users. Moreover, Increase in need of improve supply chain visibility and the desire for better transparency of orders and shipment information further boost the growth of the market.    

Upsurge in demand for transportation management systems (TMS) software 

Transportation in a supply chain refers to the movement of products from one location to another, which begins at the start of the supply chain as materials make their way to the warehouse and continues all the way to the end user with the customer’s order delivered at the doorstep. Because of the importance of transportation, warehouse managers should examine transportation within their supply chains. Ultimately, this is the only way to achieve lower total costs for a model where transportation can account for as much as 60 percent of total operational costs, a significant portion of a company's supply chain costs. Transportation management system is used to plan the movement of freight and help customers to plan and execute transportation activities efficiently across the supply chain. Over a period of time, the demand for TMS software has been witnessed to increase, which is creating numerous opportunities for the supply chain management market. The use of intelligent wireless connectivity and smart sensor technology solutions to offer real-time information to organizations about transport vehicles is increasing. 

Supply Chain Management Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific is projected as one of the most significant region.

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Key Benefits For Stakeholders

  • This study includes the global supply chain management market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and global supply chain management industry opportunity.
  • The global supply chain management market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in global supply chain management industry.

Key Market Segments

  • By Component
    • Solution
    • Services
  • By Solution Type
    • Transportation Management System
    • Warehouse Management System
    • Sourcing & Procurement
    • Supply Chain Planning
    • Manufacturing Execution System
  • BY DEPLOYMENT MODEL
    • ON-PREMISE
    • ON-DEMAND/CLOUD-BASED
  • By User Type
    • Small & Medium Sized Enterprises
    • Large Enterprises
  • BY INDUSTRY VERTICAL
    • Retail & Consumer Goods
    • Healthcare & Pharmaceuticals
    • Manufacturing
    • Food & Beverages
    • Transportation & Logistics
    • Automotive
    • Other
  • By Region
    • North America
      • U.S.
      • Canada
    • Europe
      • UK
      • Germany
      • France
      • Russia
      • Italy
      • Rest of Europe
    • Asia-Pacific
      • .China
      • India
      • Japan
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa


Key Market Players

  • EPICOR SOFTWARE CORPORATION
  • HIGHJUMP
  • INFOR
  • INTERNATIONAL BUSINESS MACHINES CORPORATION
  • JDA SOFTWARE GROUP, INC.
  • KINAXIS INC.
  • MANHATTAN ASSOCIATES
  • ORACLE CORPORATION
  • SAP SE
  • THE DESCARTES SYSTEMS GROUP INC.
 

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According to the insights of CXOs of the leading companies, rise in need to improve supply chain visibility and the desire for better transparency of inventory, orders, and shipment information drive the growth of the supply chain management software market. Increase in impact of digital commerce is anticipated to drive the investment in supply chain analytics and rise in need for faster decision-making & eliminating inefficiencies boost the investment in smart machines and IoT and the associated supply chain management software, which is expected to provide lucrative opportunities for the market. By 2021, SaaS deployments are expected to increase at higher rate and sales of on-premises licenses will decline. There is an increase in the demand for hybrid supply chain environments with coexisting cloud and on-premises applications with information hubs and supplier networks dominating the move to cloud. Owing to the major shift toward SaaS delivery model, small- & medium-sized businesses and organizations from the emerging markets are heavily investing in the market, which in turn increases the overall spending and boosts the market growth.

Furthermore, ongoing modernization of supply chain network in number of organizations offer lucrative opportunities for the market. Supply chain operations are under pressure to adopt new business models and technologies to excel in an increasingly complex and volatile world. Due to which, the leaders in the organization are innovating and investing in new processes and technologies to help their companies remain relevant in their markets. Those companies which are investing and innovating will ensure that they remain competitive in the future. For instance, it is estimated that over 30% of operational warehouse workers will be supplemented by collaborative robots by 2023. Also, almost 50% of large global companies will be using artificial intelligence, advanced analytics and Internet of Things in supply chain operations.

The adoption of emerging technologies in supply chain operations will make the supply chain network more complex; thus, by generating the need for SCM software in the upcoming years. The presence of a large number of providers in the global SCM market increases the competitive rivalry among the key players. Therefore, SCM providers are differentiating themselves from competitors and driving revenue growth by incorporating new digital business technologies such as blockchain, machine learning, in-memory technologies, and multi-enterprise visibility into their offerings to gain a competitive edge and retain their market positions. The supply chain management market is concentrated with major players adopting 50%-60% of the market share.

The degree of concentration will remain the same during the forecast period. Strategic partnerships among market participants such as logistics service providers, warehouse service providers, and transportation service providers are providing supply chain management software (SCM) vendors with more opportunities for introducing new products and expanding their market foothold. For instance, in June 2020, Epicor Software Corporation partnered with ETQ to promote business growth. This partnership provides a solution for mid-market enterprises with complete and adaptable end-to-end capabilities.

Although the accelerating market growth momentum is expected to offer immense opportunities to the vendors operating in the market, the high initial cost and availability of open-source software is anticipated to challenge the growth of the market.

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