The Global Supply Chain Management Software Market Will Be Driven by Rapidly Growing Research and Development (R&D) Efforts in AI Technologies and Beneficial Government Initiatives During the Forecast Period 2021-2026
Expert Market Research’s new report titled “Global supply chain management software market Report and Forecast 2021-2026′, gives an in-depth analysis of the Global Supply Chain Management Software Market, assessing the market based on its segments such as components, applications, deployment type and major regions . The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $14.27 billion
- Forecast CAGR (2021-2026): 4%
- Forecast market size (2026): 33.64 billion USD
Supply chain management software is used in a variety of major industry verticals, including healthcare and retail, to simplify business operations and increase employee productivity . Market growth depends on the growing desire for open supply chain procedures. Consumers, for example, are asking for information about ingredients, animal welfare, food fraud and child labor in food and beverage supply chain operations. According to a study by the MIT Sloan School of Management, consumers are willing to spend between 2% and 10% more on products from organizations that demonstrate transparency in their business operations. Additionally, the growing popularity of internet shopping is encouraging consumers to make purchases online, which can be tracked using supply chain management software. These factors are expected to have a favorable effect on the growth of the market throughout the forecast period.
Industry definition and major segments
Supply chain management software is a management platform that enables the execution of supply chain processes such as transactions, supplier management, and business process control. These software applications help streamline and optimize business operations, including planning and management. This coordinated effort to organize, regulate and streamline the supply chain aims to increase customer satisfaction. Supply chain management encompasses all operations associated with a product, from manufacturing to consumption, increasing visibility of all processes and enabling intelligent decision-making in business activities.
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By component, the market is divided into:
By Type, the market is split into:
- Transport management system
- warehouse management system
- Supply chain planning
- Sourcing and Sourcing
- Manufacturing Execution System
By Deployment Model, the market is split into:
- On the site
By Organization Size, the market is split into:
- Small and medium enterprises
- Large companies
According to end-use, the market is split into:
- Retail and consumer goods
- Health and Pharmaceutical
- Food and drinks
- Transport and logistics
By region, the industry is classified into:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Growing awareness of the benefits of supply chain management software solutions, such as forecasting accuracy, supply chain optimization, waste minimization, and meaningful synthesis of business data, accelerates market growth. Insufficient visibility into supply chain operations often leads to imbalances between supply and demand. The COVID-19 outbreak has had a lasting effect on economies around the world, forcing major companies to act and maintain operations. The pandemic has reaffirmed the importance of supply chain management for business viability. In these times of recession, supply chain management software solutions have allowed companies to identify activities that needed immediate attention or products/items that were soon to run out, allowing for much more efficient management of the gap between supply and demand than before. Integrating sophisticated technologies such as artificial intelligence (AI) and machine learning (ML) with supply chain risk management software has the potential to grow the market and add value to its customers. The integration of innovative technology and supply chain risk management software enables better management of logistics and business risks. Increasing investment and implementation of these technologies creates lucrative potential for market growth.
North America is estimated to account for a major share of the global supply chain management software market during the forecast period. This expansion is facilitated by the presence of leading supply chain management software manufacturers in the region. The government and major manufacturers in the region are gradually integrating software technology into key verticals such as transportation and logistics, which include railways, airlines, and others, propelling the growth of the market. Additionally, the increased use of supply chain management software in the retail industry is contributing significantly to the growth of the market in the region. The Asia-Pacific market is expected to grow significantly throughout the forecast period. The increase could be attributed to a growing awareness among organizations of the benefits of analytics solutions. Additionally, the growth of the regional market is driven by the increasing number of small and medium-sized enterprises and their growing expenditures for implementing advanced technologies to expand their operations. Factors such as beneficial government initiatives and rising number of research collaborations among key market players are expected to boost the growth of the global market.
Latest News in the Supply Chain Management Software Market: https://www.expertmarketresearch.com/pressrelease/global-supply-chain-management-software-market
Main market players
Major market players include SAP SE, Oracle, The Descartes Systems Group, Infor, IBM, Manhattan Associates, Logility, Epicor Software Corporation, HighJump Software Inc., Blue Yonder Group, Inc., among others. The report covers market shares, capacities, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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