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saas-based scm market
Increase in demand for real-time supply chain analysis, development of industrial-grade digital technology
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 28, 2024 /EINPresswire / -- Increase in demand for real-time
supply chain analysis, development of industrial-grade digital technology, and upsurge in need for improved supply chain visibility drive the growth of the global SaaS-based SCM
market . However, security concerns over cloud deployment among enterprises restrain the market growth. On the other hand, rise in ICT spending and adoption of SaaS-based SCM software by healthcare and pharmaceutical companies create new opportunities in the coming years. The global SaaS-based SCM Market size was valued at $7.3 billion in 2020, and is projected to reach $26.0 billion by 2030, growing at a CAGR of 13.42% from 2021 to 2030.
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Based on solution, the software segment accounted for the highest market share in 2020, contributing to nearly two-thirds of the global SaaS-based SCM market, and is projected to continue its leadership status during the forecast period. This is attributed to high level of cost savings on the total cost of ownership and increase in need for real-time material monitoring and forecasting of production plan by companies operating in several industry verticals including consumer goods, retail, manufacturing, and others. However, the service segment is expected to manifest the highest CAGR of 15.6% from 2021 to 2030, owing to effective functioning of platforms and software.
On the basis of solution, the software segment dominated the global market in 2020, and is expected to continue this trend during the forecast period. The major factors influencing the SaaS-based SCM software market is high level of cost savings on total cost of ownership and increase in need for real time material monitoring and forecasting of production plan by several industry verticals including consumer goods, retail, manufacturing, and others. However, the services segment is expected to grow at the highest CAGR during the forecast period. In the last few years, the adoption of SaaS based supply chain management software has notably increased, which has resulted in the adoption of supply chain management services across different industry verticals, as it assures effective functioning of software.
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The key players profiled in this report include
The Descartes Systems Group Inc.,
Manhattan Associates, Inc.,
Blue Yonder Group, Inc.,
Infor,
Accenture,
Kinaxis Inc.,
SAP SE,
Oracle Corporation,
IBM,
HighJump
By user type, the large enterprises segment dominated the global market in 2020, and is expected to continue this trend during the forecast period, owing to increase in adoption of SCM software to integrate this software into their existing software and inventories. Furthermore, the small & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period, owing to surge in adoption of cloud-based supply chain management software, as it provides cost-effective and efficient solution for SMEs.
Based on region, North America contributed the highest market share in terms of revenue in 2020, accounting for around two-fifths of the global SaaS-based SCM industry , and is projected to maintain its lead position by 2030. This is attributed to surge in spending on transportation & logistics that improves the implementation of automation technologies in logistics and supply chains and adoption from the transportation & logistic industry in the region. However, Asia-Pacific is estimated to register the fastest CAGR of 15.1% during the forecast period, owing to strong economic growth and ongoing development in the services sector that led business enterprises to invest heavily in SaaS-based SCM to sustain the growth and improve productivity.
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The global SaaS-based SCM market was led by the consumer goods segment in 2020, and is projected to maintain its dominance during the SaaS-based SCM Market Forecast period. The implementation of SCM solutions by the CG industry has facilitated synchronization among in-store, online, and mobile applications for consistent consumer experience, ensuring collaboration between stakeholders for personalized customer service.
Based on industry vertical, the consumer goods segment contributed to the highest market share in 2020, accounting for more than one-fifth of the global SaaS-based SCM market, and is estimated to maintain its dominance in terms of revenue during the forecast period. This is attributed to smooth synchronization among in-store, online, and mobile applications for consistent consumer experience and ensuring collaboration between stakeholders for personalized customer service. However, the healthcare and pharmaceuticals segment is projected to manifest the fastest CAGR of 17.1% from 2021 to 2030, owing to the need to reduce overall costs, application of advanced technologies, and implementation of new capabilities, such as digital technology and agility.
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Due to this outbreak, number of industries have been affected and maintaining the complex supply chain networks is becoming difficult for them, which is expected to drive the demand for SaaS-based SCM. For instance, according to a survey conducted by "Institute for Supply Chain Management Organization" in March 2020, almost 75% of the companies reported global SCM disruptions in one form or other due to the corona virus related transportation restrictions and it is further expected to increase in the upcoming few weeks. In the aftermath of severe disturbance from the COVID-19 pandemic, enterprises across the globe are intended to review their supply chain strategies to turn out to become resilient, collaborative, and coordinate with clients, suppliers, and other stakeholders. To do that, they will increase investment in SaaS-based SCM, which is expected to be opportunistic for the growth of the market .
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