Global Supply Chain Management Market Size To Grow At A CAGR Of 11.40% In The Forecast Period Of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, August 14, 2023/EINPresswire.com/ -- The ‘Global Supply Chain Management Market Size, Share, Demand, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global supply chain management market, assessing the market on the basis of its segments like solution, deployment, organisation size, end use, and major regions.

Global Supply Chain Management Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

Historical Market Size (2022): Around USD 25.07 Billion
Forecast CAGR (2023-2028): 11.40%
Forecast Market Size (2028): Approximately USD 47.1 Billion

Supply chain management systems give organisations more transparency and control over the production process, allowing them to manage inventory, orders, distribution channels, and delivery procedures more efficiently. Supply chain management systems also provide organisations with various business insights based on analysed data to predict any upcoming hindrance in the supply chain. Hence, various organisations are rapidly adopting supply chain systems resulting in the global supply chain management market growth.

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Cloud-based supply chain management solutions help small and medium organisations to reduce staff requirements and hence, assist in cost optimisation for the enterprise. These solutions are built to perform tasks traditionally handled by employees, like keeping digitised records of business inventory, warehouse tracking, procuring status, production numbers, and fluctuating supply and demand. These records are saved on cloud storage, which can be accessed from anywhere at any point of time.

The introduction of new and better technology, including the incorporation of artificial intelligence and machine learning, further propels the growth of the global supply chain management market. These technologies provide quicker and more in-depth analysis of data, providing organisations enough time to develop strategies against future disturbances or alter their daily practices to increase their revenues. Moreover, growing digitisation and increasing penetration of IoT across the globe are assisting businesses to collect more relevant and detailed data through such solutions.

Global Supply Chain Management Industry Definition and Major Segments

Supply chain management software is a set of software that assists in micro-managing all the steps in the production process, including procurement, management, assembling, and deployment. All these software work together to provide business insights and maintain a synchronised flow of goods, ensuring businesses’ constant survival and growth.

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By solution, the global supply chain management market is divided into:

Demand Planning and Forecasting
Inventory and Warehouse Management
Product Life-Cycle Management
Transportation and Logistics Management
Sales and Operations Planning
Others

Based on deployment, the market is categorised into:

Hybrid Cloud
Public Cloud
Private Cloud

By organisation size, the market is segmented into:

Large Enterprises
Small and Medium Enterprises

On the basis of end use, the market is divided into:

Retail
Food and Beverages
Manufacturing
Automotive
Oil and Gas
Healthcare
Others

The major regional markets for supply chain management include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Supply Chain Management Market Trends

The emergence of a circular supply chain promoting the use of recyclable and discarded raw materials into the manufacturing process to utilise resources to their full potential and reduce wastage is expected to positively impact the market. Hence, the need for efficient supply chain management solutions is increasing to cope with these evolving market practices. However, organisations’ security and privacy concerns regarding sensitive data may pose as a challenge to the market growth.

The transportation and logistics management systems hold a significant share of the global supply chain management market. These systems allow organisations to estimate freight and transportation charges more accurately, thus, assisting in effectively planning transportation activities. The transportation management system is required at every phase of the production process, from procurement to deployment. With the introduction of new technologies in transport management systems, accurate data can be easily accessed including, the best performing vehicles and latest trends in the market, further assisting organisations in figuring out better routes to keep fuel consumption under check.

North America is expected to show significant growth over the forecast period owing to the increasing number of organisations adopting supply chain management software to improve their performance and generate more revenues. Moreover, the presence of research and development agencies constantly working towards adding new features to these systems is further propelling the growth of the supply chain management market.

Key Market Players

The major players in the global supply chain management market report are SAP SE, Oracle Corporation, Infor Equity Holdings LLC, IBM Corporation, American Software, Inc., Cloud Logix LLC, Tecsys Inc., Epicor Software Corporation, and OM Partners nv, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.

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Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research
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