Market Definition
Supply chain management (SCM) is a system of activities, people, information, and resources involved in moving a product or service from supplier to customer. SCM is the coordination and management of all these elements to streamline the process and increase efficiency.
Market Outlook
The Supply Chain Management Market size was USD 24.8 Billion in 2023 and is anticipated to reach USD 49.3 Billion in 2033, growing at a rate of 7.1% from 2024 to 2033.
There are a few key trends in Supply Chain Management technology. One is the move towards more real-time data. This means that companies are collecting data more frequently and using it to make decisions more quickly. This can be enabled by technologies like the Internet of Things and big data analytics.
Another trend is the use of more predictive analytics. This means using data to try to forecast what will happen in the future and make decisions accordingly. This can help companies avoid disruptions and plan for demand.
Finally, there is a trend towards more collaborative and transparent supply chains. This means that companies are sharing more information with each other and working together more closely to improve efficiency and optimize the supply chain. This can be enabled by technologies like blockchain.
There are a few key drivers of the supply chain management (SCM) market. Firstly, the increasing globalization of businesses has led to the need for more efficient SCM solutions that can help manage a complex supply chain network spanning multiple geographies. Secondly, the ever-changing nature of customer demand means that businesses need to be able to respond quickly and effectively to changes in order patterns. This has led to the need for SCM solutions that are flexible and can be easily configured to meet changing business requirements. Finally, the growth of the e-commerce sector has placed additional pressure on businesses to ensure that their supply chains are able to meet the challenges of handling large volumes of orders and managing stock levels effectively.
The key restraints and challenges in supply chain management (SCM) market include the following:
1. Fragmentation: There are numerous supply chain management software providers in the market, which can make it difficult for buyers to identify the right solution for their needs. In addition, many of these providers offer similar or identical solutions, which can further complicate the decision-making process.
2. Lack of standardization: There is no standardization among supply chain management software solutions, which can make it difficult for buyers to compare and contrast different options. This lack of standardization can also make it difficult to integrate supply chain management software solutions with other enterprise software solutions.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The report analyses the global Supply Chain Management (SCM) Market based on solution, deployment mode, organization size, industry vertical, and region.
Supply Chain Management (SCM) Market by Solution
Based on solution, the Supply Chain Management (SCM) Market is segmented into services and software. The software segment is expected to dominate the market during the forecast period. Quality assurance, supplier management, and logistics management are all applications of SCM solutions. Over the complicated supply chain, SCM systems give benefits such as enhanced visibility, increased efficiency, analytics, lower costs, more agility, and increased compliance. It aids in the automation of important activities such as order processing, billing, and order tracking, resulting in reduced time and administrative costs. surplus materials and expenses associated with shipping, warehousing, and manufacturing are also identified by SCM systems, which aids in the reduction of surplus inventory.
During the projected period, the service segment is predicted to grow the quickest. SCM services help businesses enhance their supply chain operations by providing data-driven insights. Real-time predictive production cost assessment services are provided to discover process inefficiencies and possibilities. It successfully implements data-driven sales and operations planning, as well as inventory management, to help save costs. Manufacturing activities may be monitored using SCM services to improve performance and decrease risk.
Supply Chain Management (SCM) Market by Deployment Mode
By deployment mode, the market is classified into on-premises, and cloud. The cloud segment dominated the market in 2023 in terms of revenue and is expected to dominate the market during the forecast period. Cloud-based solutions are being adopted by businesses to increase adaptability and flexibility in the supply chain process. It also provides other advantages, including enhanced processing capacity, storage, cost-effective pricing structures, and a reduction in operating costs. These advantages are driving market expansion.
Global Supply Chain Management (SCM) Market by Organization Size
Based on organization size, the Supply Chain Management (SCM) Market is segmented into small & medium enterprises and large enterprise. In 2023, the large enterprises segment dominated the market in terms of revenue and is expected to be the same during the upcoming years. Increased demand for continuous monitoring systems and automation features such as advanced shipment notification management, customizable notifications, in-transit status updates, user-configurable dashboards, and visual supply chain maps can be attributed to the growth in a variety of large-sized industries. SCM also gives access to exact real-time freight statistics as well as the ability to develop reports that allow major organizations to make better business choices such as supply planning, inventory planning, and distribution planning, among other things. The market is expanding as a result of a significant increase in the need for software in major organizations to gather critical business data such as inventory numbers, predicted sales data, supplier details, and so on. For example, in November 2022, Microsoft announced the debut of the Microsoft supply chain platform and provided a demonstration of the technology through the Microsoft Supply Chain Center. Microsoft’s supply chain center is intended to work with an organization’s existing supply chain apps and data.
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Major Players
The supply chain management (SCM) market report includes players such as IBM Corporation, Oracle Corporation, SAP SE, Manhattan Associates, Descartes Systems Group Inc., Kinaxis, E2open, LLC, Basware Corporation, WiseTech Global, and Infor, among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape- Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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