(MENAFN- IMARC Group)
IMARC Group's report titled“ SaaS-based SCM market Report by Solution (Software, Services), Deployment Mode (Public, Private, Hybrid), End User (Large Enterprises, Small and Medium Enterprises), Application (Transportation Management, Inventory and Warehouse Management, Sourcing and Procurement Management, Order Management, Demand and Operations Planning, and Others), Vertical (Consumer Goods and Retail, Food and Beverages, Healthcare and Life Sciences, Manufacturing, transportation and Logistics, and Others), and Region 2024-2032 “. The global SaaS-based SCM market size reached US$ 8.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 27.7 Billion by 2032, exhibiting a growth rate (CAGR) of 14.3% during 2024-2032.
Factors Affecting the Growth of the SaaS-based SCM Industry:
Ongoing Technological Advancements:
The SaaS-based supply chain management (SCM) industry is currently experiencing significant growth due to rapid technological advancements. Innovations in cloud computing, artificial intelligence (AI), and machine learning (ML) are reshaping SCM solutions, making them more efficient and scalable. These technologies enable real-time data analytics and enhanced visibility across the supply chain, facilitating better decision-making and efficiency. Furthermore, the integration of Internet of Things (IoT) devices is automating and streamlining logistics and inventory management, leading to reduced operational costs and improved service levels. As technology continues to evolve, SaaS-based SCM solutions are becoming increasingly sophisticated, offering businesses advanced tools for managing their supply chains effectively.
Increased Demand for Cloud-based Solutions:
The global shift toward cloud-based solutions is another critical factor driving the growth of the SaaS-based SCM industry. With the rising adoption of cloud computing, companies are seeking scalable, flexible, and cost-effective software solutions. SaaS-based SCM systems offer these advantages, allowing businesses of all sizes to leverage advanced supply chain management tools without the need for substantial upfront investments in IT infrastructure. The pay-as-you-go model of SaaS solutions is particularly attractive to small and medium-sized enterprises (SMEs), which significantly contributes to the growth of the market. Additionally, the ability to access SCM software remotely and the ease of updating and maintaining these systems are key factors that are accelerating the adoption of cloud-based SCM solutions.
Rapid Globalization of Supply Chains:
The ongoing globalization of supply chains is a major factor supporting the growth of the SaaS-based SCM industry. As businesses expand their operations internationally, managing complex, geographically dispersed supply chains becomes a significant challenge. SaaS-based SCM solutions offer the necessary tools to manage these complexities efficiently. They also provide enhanced visibility, coordination, and control over global supply networks, enabling companies to respond swiftly to market changes and manage risks more effectively. The ability of these systems to support multilingual and multicurrency transactions is also crucial for global operations, making SaaS-based SCM an indispensable tool for companies operating on an international scale.
Leading Companies Operating in the Global SaaS-based SCM Industry:
Blue Yonder Inc. Descartes Systems Group Inc. Epicor Software Corporation (KKR & Co. Inc.) Highjump Software Inc. (Körber AG) International Business Machines Corporation Infor Inc. (Koch Industries, Inc.) Kinaxis Inc., Logility Inc. (American Software Inc.) Manhattan Associates Inc. Oracle Corporation SAP SE.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/saas-based-scm-market/requestsample
SaaS-based SCM Market Report Segmentation:
By Solution:
Software dominates the market by solution as it is the core component providing essential functionalities for supply chain management, such as inventory control, procurement, and logistics planning.
By Deployment Mode:
Hybrid holds the largest market share as it offers a balanced mix of security, flexibility, and cost-effectiveness, accommodating the varying IT needs of different businesses.
By End User:
Large Enterprises Small and Medium Enterprises
Large enterprises represent the leading end user segment because their complex and extensive supply chain operations require robust and scalable solutions that SaaS-based software can provide.
By Application:
Transportation Management Inventory and Warehouse Management Sourcing and Procurement Management Order Management Demand and Operations Planning Others
Demand and operations planning accounts for the majority of the market share due to the critical need for businesses to accurately forecast demand and efficiently plan resources to optimize supply chain performance.
By Vertical:
Consumer Goods and Retail Food and Beverages Healthcare and Life Sciences Manufacturing Transportation and Logistics Others
Consumer goods and retail represents the largest market segment owing to the rising need to manage a vast and dynamic inventory and to coordinate a complex distribution network efficiently.
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Global SaaS-based SCM Market Trends:
The SaaS-based supply chain management (SCM) market is currently experiencing several transformative trends. A significant shift toward cloud-based solutions is evident as businesses seek scalable, cost-effective systems that offer enhanced flexibility. Moreover, the integration of cutting-edge technologies like AI, IoT, and advanced analytics is revolutionizing SCM, enabling real-time decision-making and increased operational efficiency. Along with this, the growing emphasis on sustainability in supply chain practices is fueling the adoption of SaaS-based SCM, which supports efficient resource utilization and reduced carbon footprints. These trends indicate a robust future for the SaaS-based SCM market, underpinned by technological innovation and an evolving business landscape
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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