According to a new market research report published by Credence Research, “Supply Chain Management Market (By Component (Software (On-premise and Cloud-based) and Services (Maintenance, Upgrade & Support), By End-use Vertical (Transportation & Logistics, Food & Beverage, Retail, Automotive, Industrial, Electronics, and Others (Aerospace & Defense, Healthcare, etc.), By Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2018 -2026”, the global supply chain management market was valued at US$ 12.96 Bn in 2017 and expected to expand at a CAGR of 12.3% during the forecast period from 2018 to 2026.
Supply Chain Management Market – Growth, Future Prospects, and Competitive Landscape, 2018 -2026 report at https://www.credenceresearch.com/report/supply-chain-management-market
Product & Market Insights
The changing and fast expanding logistics landscape worldwide presents sound opportunities for shippers and business organizations to gain value from their existing supply chain operations using efficient logistics management solutions. Using these solutions, organizations efficiently manage and execute deliveries through modules such as route planning, route optimization, carrier selection, and track & trace among others. Growing popularity of SaaS-based solutions on the back of benefits offered in terms of flexibility, implementation, and cost bodes well for the market growth. Shift from on-premise solutions to cloud-based deployments is expected to trigger the replacement demand. This paradigm shift will transfer costs from capital expense to operational expense, thereby making investment in supply chain management more fruitful to small and medium-sized businesses, especially in the emerging economies. This, in turn will expand the addressable market and augment the overall spending on supply chain management solutions.
Globalization and liberalization has helped business organizations worldwide to magnify their reach internationally, thereby stimulating demand for efficient logistics. Growing preference for last mile logistics through omni-channel sales and resultant demand for achieving greater visibility across the supply chain is driving adoption of supply chain management solutions among businesses. With evolving digital habits of consumers, businesses are required to respond to the changing needs of their customers in a shorter lead time. This has forced them to adopt different business models, thereby augmenting spending on supply chain management solutions. Advancements in technology have enabled shippers and manufacturers integrate state-of-the-art supply chain management solutions with their logistic model to effectively plan deliveries and optimize flow of goods across the supply chain.
Key companies profiled in the research study include SAP SE, Oracle Corporation, JDA Software Group, Inc., Vanguard Software, Comarch, IBM Corporation, Aspen Technology, Inc., Infor, Inc., Kinaxis, Plex Systems, QAD, Inc., , and Sage Group Plc among others. In order to differentiate their offerings and remain ahead of their competition, vendors are focusing on integrating disruptive business technologies such as Internet of Things (IoT), machine learning, and in-memory technologies among others into their offerings.