The 2023 report on the “Supply Chain Management Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Supply Chain Management Market is valued approximately at USD 15.85 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.2% over the forecast period 2020-2027. Supply Chain Management Software is a real-time analytical platform, and is used to execute supply chain transactions, managing supplier relationship and controlling associated business processes. This software manages the flow of products and various kinds of information across the supply chain network as well as strengthens the supply chain operations of any organization. This software is used in wide range of application such as transportation & logistics, manufacturing, healthcare & pharmaceuticals, retail & consumer goods, food & beverages, automotive and others.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Factors such as development of industrial-grade digital technology, surge in need for improved supply chain visibility as well as demand management solutions among enterprises and increase in inclination towards cloud-based supply chain management software are the few factors responsible for growth of the market over the forecast period. Furthermore, the introduction of products and services along with other strategic alliance by market key players will create a lucrative demand for this market.
For instance: on 08th January 2019, SAP SE launched intelligent supply chain for assets customer initiative. This solution will improve the quality of intelligence enterprise solutions by integrating demand, maintenance and supply planning. However, high cost associated with the implementation and maintenance of SCM solution and increase in security & privacy concerns among enterprises is the major factor restraining the growth of global Supply Chain Management market during the forecast period.
The regional analysis of global Supply Chain Management market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the rise in spending on transportation & logistics, which is boosting the implementation of automation technologies in logistics and supply chain. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
SAP SE
Oracle Corporation
JDA Software Group, Inc.
Infor
Manhattan Associates
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Epicor Software Corporation
The Descartes Systems Group Inc.
HighJump
Kinaxis Inc.
IBM Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Solution
Services
By Solution Type:
Transportation Management System
Warehouse Management System
Sourcing & Procurement
Supply Chain Planning
Manufacturing Execution System
By User Type:
Large Enterprises
Small & Medium Enterprises
By Application:
Retail & Consumer Goods
Healthcare & Pharmaceuticals
Manufacturing
Food & Beverages
Transportation & Logistics
Automotive
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Dynamics:
- Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
- Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
- Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
- Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
- Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
- Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
- Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
- Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
- Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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