According to market research report on "Supply Chain Management Market by Component (Hardware (Barcode and
Barcode Scanners and RFID Tags and Readers), Software, and Services),
Deployment Mode (Cloud and On-premises), Organization Size, Vertical, and
Region - Global Forecast to 2026", published by
MarketsandMarkets™, the Supply Chain Management Market size to grow from USD 23.2 billion in 2020 to USD 41.7 billion by 2026,
at a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period.
Demand for greater visibility and transparency in supply chain data and
processes, high growth in eCommerce, increasing adoption of cloud supply chain
management among SMEs, and enhancing business continuity by minimizing
potential failures are major growth factors for the market. Advances in
technologies are making evolution to the supply chain industry and integration
of AI capabilities with SCM offerings would provide lucrative opportunities for
vendors in the Supply Chain Management Market.
Browse and in-depth TOC on
“Supply Chain Management Market”
287 –
Tables
56 - Figures
270 - Pages
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By component, Software segment to hold the largest market
size during the forecast period
SCM software helps in proper planning and management of the
entire supply chain by automating processes, such as product development,
sourcing, production, and logistics that maximizes the efficiency of business
activities. SCM software is used to manage supplier relationships, control
business processes, and execute value chain transactions. The demand for SCM
software is growing due to the increase in shift of enterprises toward
SaaS-based technology, rise in online purchases, and improvements in business
intelligence. The adoption of SCM software is increasing among enterprises due
to benefits, such as increased efficiency, improved scalability, enhanced
decision-making, increased productivity and performance, faster deployments,
reduced costs, lower infrastructure cost, better control of critical
applications, and a decrease in business downtime and losses.
In deployment mode, cloud deployment to grow at a higher CAGR
during the forecast period
The cloud deployment mode is gaining momentum in the SCM market
due to the low-cost installation of cloud services, the widespread availability
of cloud services, such as SaaS and IaaS models, and the need for effective
security controls on the cloud. The increase in demand for improved service and
cost-effectiveness and the rise in need by organizations to track the overall
SCM activities for operational efficiency is also projected to encourage the
need for cloud deployment for SCM.
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North America to hold the largest market size during the forecast period
North America, a technologically advanced region with a high
number of early adopters and the presence of major market players, is expected
to contribute the highest market share in terms of revenues during the forecast
period. Factors such as increased adoption of IoT, ML and AI-based technologies
for digitizing supply chain operations, increasing digitization and increasing
demand for cloud-based SCM services among enterprises, especially SMEs, due to
advantages such as scalability and cost effectiveness are expected to fuel the
growth of SCM in th region
Major vendors in the global Supply Chain Management Market include SAP SE (Germany), Oracle (US), The Descartes Systems
Group (Canada), Infor (US), IBM (US), Manhattan Associates (US), Logility (US),
Kinaxis (Canada), Blue Yonder (US), Korber (US), Coupa Software (US), Epicor
(US), BluJay Solutions (US), Llamasoft (US), E2open (US), JAGGAER (US), Zycus
(US), GEP (US), Tive (US), Calista (Singapore), Most (Sweden), FreightBro
(India), 4TiGo (India), Trukky (India), Lobb (India).
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Report: https://www.marketsandmarkets.com/Market-Reports/supply-chain-management-market-190997554.html
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