The SCM Software Global Market Report 2023 by The Business Research Company, provides scm software market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s SCM Software Global Market Report 2023, the global scm software market size will grow from $31.91 billion in 2022 to $37.86 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global scm software is expected to grow to $73.98 billion in 2027 at a CAGR of 18.2%.
SCM software’s can manage the complexities of the modern day supply chain. With businesses going global and increased competition, the supply chains are getting complex. The number of suppliers, orders received/completed, variety of product offerings, information generated etc. all have increased substantially. Through the use of SCM software, the complexity can be reduced along with cost and resource savings. The need for companies to remain relevant in the market amidst the highly competitive conditions is a crucial driver for the growth of the SCM software market.
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The scm software market is segmented:
1) By Product: Transportation Management System, Warehouse Management System, Supply Chain Planning, Procurement Software, Manufacturing Execution System
2) By Industry Vertical: Consumer Goods, Healthcare & Pharmaceuticals, Manufacturing, Food & Beverages, Transportation & Logistics, Other Industrial Verticals
3) By User Type: Small & Medium Sized Enterprises (SMEs), Large Enterprises
Home Depot, one of the biggest retailers selling home improvement and construction products and services used to have separate logistics management departments in every single physical store to utilize replenishment and store management-related activities. This was costly as each store had to process the replenishment orders to get the required materials from the suppliers separately. After realizing that the de-centralization of the logistics management was a major issue, Home Depot decided to centralize those individual departments into one department in its corporate headquarters. With the help of technology and right SCM software solutions, Home Depot’s new centralized inventory and replenishment department’s overall performance improved the demand forecast accuracy and decreased the cost of operations for the replenishment orders.
The scm software market report table of contents includes:
- Executive Summary
- Supply Chain Management (SCM) Software Market Characteristics
- Supply Chain Management (SCM) Software Market Trends And Strategies
- Supply Chain Management (SCM) Software Market – Macro Economic Scenario
- Supply Chain Management (SCM) Software Market Size And Growth
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- Africa Supply Chain Management (SCM) Software Market
- Supply Chain Management (SCM) Software Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Supply Chain Management (SCM) Software Market
- Supply Chain Management (SCM) Software Market Future Outlook and Potential Analysis
- Appendix
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