NEW YORK, June 14, 2024 /PRNewswire/ — The global supply chain management (SCM) software market size is estimated to grow by USD 17.98 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 12.35% during the forecast period. Emergence of supply chain visibility and event management is driving market growth, with a trend towards growing demand for fleet management in logistics service industry. However, high initial cost and availability of open-source software poses a challenge. Key market players include 3M Co., American Software Inc., Coupa Software Inc., Cybozu Inc., Descartes Systems Group Inc., E2open Parent Holdings Inc., Epicor Software Corp., Infor Inc., International Business Machines Corp., Kinaxis Inc., Magaya Corp., Manhattan Associates Inc., Microsoft Corp., Oracle Corp., Panasonic Holdings Corp., SAP SE, Solvoyo, Sonata Software Ltd., StockIQ Technologies Inc., and Webgility Inc..
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
Supply Chain Management (SCM) Software Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 12.35%
Market growth 2024-2028
USD 17984.8 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
11.12
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
APAC at 35%
Key countries
US, China, Germany, UK, and Japan
Key companies profiled
3M Co., American Software Inc., Coupa Software Inc., Cybozu Inc., Descartes Systems Group Inc., E2open Parent Holdings Inc., Epicor Software Corp., Infor Inc., International Business Machines Corp., Kinaxis Inc., Magaya Corp., Manhattan Associates Inc., Microsoft Corp., Oracle Corp., Panasonic Holdings Corp., SAP SE, Solvoyo, Sonata Software Ltd., StockIQ Technologies Inc., and Webgility Inc.
Market Driver
SCM software plays a crucial role in logistics services, facilitating processes for transportation management, fleet management, order fulfillment, network design, and inventory control. Fleet management, a significant component of SCM systems, optimizes vehicle usage, minimizes fuel costs, reduces operating expenses, enhances productivity, and ensures driver safety.
Integrating SCM software with fleet management systems enables data recording and analysis, leading to global adoption by logistics services. Notable adopters include Lidl UK and Associated Wholesale Grocers, who selected ORBCOMM for fleet management solutions. The increasing demand for fleet management is projected to boost SCM software market growth.
The Supply Chain Management (SCM) software market is experiencing significant growth, driven by the increasing need for efficient and effective supply chain operations. Cloud-based SCM solutions are trending, providing companies with the flexibility to access real-time data and collaborate with suppliers and customers from anywhere.
The use of artificial intelligence and machine learning in SCM software is also on the rise, enabling predictive analytics and automation of manual processes. Additionally, the demand for integrated SCM systems that connect all aspects of the supply chain, from sourcing to logistics to inventory management, is increasing. These solutions help companies streamline their operations, reduce costs, and improve customer satisfaction.
Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report
Market Challenges
The global SCM software market faces rising costs due to licensing, installation, maintenance, hardware, customization, and training expenses. Challenges include implementing transportation monitoring systems, such as TMS and WMS, which require significant investments in IT infrastructure and data-capturing devices. Open-source solutions like Odoo, OpenBoxes, xTuple, OpenLMIS, and Sellsy offer cost savings but lack advanced features, limiting their use to smaller companies. Market growth may be restricted due to these factors.Supply Chain Management (SCM) software is essential for businesses to manage their inventory, production, and logistics efficiently. However, implementing SCM software comes with challenges. One significant challenge is ensuring compatibility with existing systems and processes. Another issue is integrating data from various sources and ensuring data accuracy.Additionally, training employees to use the software effectively can be time-consuming and costly. Furthermore, securing the software against cyber threats is a constant concern. Lastly, keeping up with the latest technology trends and upgrading the software regularly can be a challenge for small and medium-sized businesses. Despite these challenges, the benefits of SCM software, such as improved efficiency, reduced costs, and increased customer satisfaction, make it a worthwhile investment for businesses.
For more insights on driver and challenges – Request a sample report!
Segment Overview
Application 1.1 SCP1.2 Procurement1.3 WMS1.4 TMSDeployment 2.1 On-premise2.2 Cloud-basedGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America
1.1 SCP- The Supply Chain Management (SCM) software market is witnessing significant growth as companies worldwide adopt integrated business management processes, such as Sales and Operations Planning (S&OP), to synchronize functions and manage sales data and demand forecasting. Notable vendors offering SCP solutions include SAP SE, Infor Inc., JDA Software, and Manhattan Associates Inc. Hong Kong Aircraft Engineering and Heineken NV are among the end-users implementing these solutions to enhance operational efficiency and effectively manage sales and demand planning.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report
Research Analysis
The Supply Chain Management (SCM) software market is experiencing significant growth due to the increasing demand for transparency and operational agility in retail and e-commerce industries. SCM products are essential for implementing effective supply chain strategies, which include lean inventory, just-in-time replenishment, and demand management solutions.
Industrial-grade digital technology, such as AI and machine learning, plays a crucial role in data analysis and supply chain visibility. Robotic process automation streamlines purchasing and supply chain transactions, while warehousing and logistics ensure time-to-market efficiency. Cloud-based SCM solutions offer access to real-time supply chain data, enhancing supplier relationships and improving overall supply chain performance.
Market Research Overview
The Supply Chain Management (SCM) software market encompasses solutions designed to optimize and manage the flow of goods and services, from raw materials to end customers. These systems enable businesses to streamline operations, improve efficiency, and reduce costs.
Key features of SCM software include demand planning, inventory management, order management, transportation management, and supply chain visibility. The market is driven by the increasing complexity of global supply chains, the need for real-time visibility, and the growing adoption of cloud-based solutions. Additionally, the integration of artificial intelligence and machine learning technologies is revolutionizing SCM, enabling predictive analytics and automated decision-making.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ApplicationSCPProcurementWMSTMSDeploymentOn-premiseCloud-basedGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/supply-chain-management-scm-software-market-size-is-set-to-grow-by-usd-17-98-billion-from-2024-2028–emergence-of-supply-chain-visibility-and-event-management-boost-the-market-technavio-302172463.html
SOURCE Technavio
