Supply Chain Management Market to Reach $85.3 Billion by 2033 at 11.1% CAGR: Allied Market Research

PR Newswire
Monday, April 29, 2024 at 9:52am UTC

Supply Chain Management Market to Reach $85.3 Billion by 2033 at 11.1% CAGR: Allied Market Research

PR Newswire

Rise in technological advancements and investments and surge in demand and usage of supply chain management services and software by various enterprises and industries are the major factors that drive the growth of the global supply chain management market.

NEW CASTLE, Delaware, April 29, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "SCM Industry by Component (Solution and Service), Solution Type (Transportation Management System, Warehouse Management System, Supply Chain Planning, Procurement and Sourcing, and Manufacturing Execution System), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises, and Small and Medium-sized Enterprises), and Industry Vertical (Retail and Consumer Goods, Healthcare and Pharmaceuticals, Manufacturing, Food and Beverages, Transportation and Logistics, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2033." According to the report, the global supply chain management market generated $27.2 billion in 2022, and is estimated to reach $85.3 billion by 2033, witnessing a CAGR of 11.1% from 2023 to 2033. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Allied Market Research Logo

Prime Determinants of Growth

Rise in technological advancements & investments and surge in demand & usage of supply chain management services & software by various enterprises and industries boost the growth of the global supply chain management market. In addition, the increase in adoption of SCM software in healthcare and pharmaceutical companies positively impacts the growth of the SCM industry. However, lack of awareness about supply chain management software and increase in security and privacy concerns among businesses hamper the supply chain management market growth. On the contrary, the increase in advanced information and communications technology and increase in the e-commerce sector is expected to offer remunerative opportunities for expansion of the supply chain management market during the forecast period.

Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/4646

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2033

Base Year

2022

Market Size in 2022

$27.2 Billion

Market Size in 2033

$85.3 Billion

CAGR

11.1 %

No. of Pages in Report

374

Segments covered

Component, Solution Type, Deployment Mode, Enterprise Size, Industry Vertical, and Region.

Drivers

Rise in technological advancement and investments

Surge in demand and usage of supply chain management services and software by various enterprises and industries

Increase in adoption of SCM software in healthcare and pharmaceutical companies

Opportunities

Increase in advanced information and communications technology

Increase of the e-commerce sector

Restraints

Lack of awareness about supply chain management software

Upsurge in security and privacy concerns among businesses

Buy this Complete Report (374 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/supply-chain-management-software-market/purchase-options

Russia-Ukraine War Scenario

  • The Russia-Ukraine conflict has a significant impact on the global supply chain management market on every level. The warehouse capacity and disruption of transportation routes availability has started fading and impacted the industry.
  • The war has disrupted the trade flows between Russia, Ukraine, and other countries. This has affected supply chain management companies to find alternative sources for raw material and finished goods. The disruption also led to delays in shipment, which leads to an increase in costs and reduced customer satisfaction.
  • Furthermore, the conflict has created uncertainty and risk for businesses operating in the region. Companies deal with the risk of sanctions which has the potential for supply chain disruptions and the risk of doing business in a politically unstable environment.

The solution segment to maintain its leadership status throughout the forecast period

By component, the solution segment held the highest market share in 2022, accounting for nearly two-thirds of the supply chain management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to it helping the management team to make crucial decisions about business strategies by adopting cost-effective measures and improving operational efficiency. However, the services segment is projected to manifest the highest CAGR of 12.9% from 2023 to 2033, owing to the adoption of supply chain management services across different industry verticals, as it assures effective functioning of platforms and software.

The procurement and sourcing segment to maintain its leadership status throughout the forecast period

By solution type, the procurement and sourcing segment held the highest market share in 2022, accounting for nearly two-fifths of the SCM industry revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in need for improving procurement function along with the growth in penetration of advanced technologies across number of industry verticals. However, the transportation management system segment is projected to manifest the highest CAGR of 15% from 2023 to 2033, owing to number of transportation management system vendors and third-party providers adopting digitized systems for supply chain management and transportation activities.

The on-premise segment to maintain its leadership status throughout the forecast period

By deployment mode, the on-premise segment held the highest market share in 2022, accounting for nearly two-thirds of the supply chain management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to collection, display, and organization of important data from customer communication by means of e-mails, calls, and Chabot's using the company's own IT infrastructure. However, the on-demand/cloud-based segment is projected to manifest the highest CAGR of 13.1% from 2023 to 2033, owing to the development of sophisticated applications for efficient data management and service delivery, which is projected to be facilitated by improvements in information-sharing technologies and rise in use of mobile devices.

The large enterprise segment to maintain its leadership status throughout the forecast period

By enterprise size, the large enterprise segment held the highest market share in 2022, accounting for nearly two-thirds of the SCM industry revenue and is estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for constant 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 in numerous large-sized industries. However, the small and medium-sized enterprise (SMEs) segment is projected to manifest the highest CAGR of 12.5% from 2023 to 2033, owing to efficiently achieving their goals by having better operational services and meeting the target by increasing productivity.

The retail and consumer goods segment to maintain its lead position during the forecast period

By industry vertical, the retail and consumer goods segment accounted for the largest share in 2022, contributing for nearly two-fifths of the supply chain management market revenue, owing to the growing complexity of retail supply chain networks over time due to the presence of a large number of suppliers & logistics providers, channels, products, and value-added offerings. However, the automotive segment is expected to portray the largest CAGR of 16.5% from 2023 to 2033, owing to the emergence of blockchain technology to enhance transparency, traceability, and security in supply chain transactions, particularly for tracking the provenance of raw materials and ensuring compliance with regulatory standards.

Asia-Pacific region to maintain its dominance by 2033

By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the SCM industry revenue, owing to increasing technological advancements such as using business intelligence for targeting regular customers, and introduction of digital technologies. The Asia-Pacific region is expected to witness the fastest CAGR of 13.3% from 2023 to 2033, owing to increase in requirement for enhanced supply chain visibility, development of industrial-grade digital technology, and shift in inclination of the suppliers toward cloud-based supply chain management software acting as growth catalysts for the overall market.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/4646

Leading Market Players: -

  • Epicor Software Corporation
  • HIGHJUMP
  • INFOR
  • IBM Corporation
  • Blue Yonder Group, Inc.
  • KINAXIS
  • Manhattan Associates, Inc.
  • Oracle Corporation
  • SAP SE
  • The Descartes Systems Group Inc.

The report provides a detailed analysis of these key players of the supply chain management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

 

Cision View original content:https://www.prnewswire.com/news-releases/supply-chain-management-market-to-reach-85-3-billion-by-2033-at-11-1-cagr-allied-market-research-302129897.html

SOURCE Allied Market Research