The global supply chain management market size is expected to reach USD 58.89 billion by 2030, according to a new study by Polaris Market Research. The report “Supply Chain Management Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software, Services); By User Type; By Deployment Model; By End-Use Industry; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The adoption of supply chain management (SCM) solutions is expected to increase in Asia-Pacific during the forecast period. Businesses are increasingly turning towards SCM solutions for greater visibility across processes and demand for efficient and timely delivery of products to consumers. Growth in the retail and e-commerce sector in the region and an increase in the adoption of advanced technologies fuels the growth of the industry in the region.
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The growing adoption of technologically advanced SCM systems by small and medium-sized enterprises for the management of supply chain operations fuels the market growth in the region. The industry leaders are expanding and strengthening their presence in the region, leading to market growth.
The increase in demand for supply chain management solutions from small and medium-sized enterprises is expected to drive industry growth during the forecast period. Greater investments by small and medium-sized businesses in SCM solutions, along with technological advancement in the telecommunication industry, are expected to drive growth during the forecast period. Small and medium-sized businesses are increasingly adopting these applications to maintain efficient workflow and improve customer services.
On the basis of the deployment model, the market is segmented into cloud-based and on-premise. Cloud-based deployment is set to play an increasingly important role across diverse industries owing to increasing dependence on the cloud for data storage and instant access to vital data at any time and place. It enables efficient application development, management, and access. Cloud-based deployment provides rapid delivery, efficient use of shared resources, and increased scalability.
SCM solutions are increasingly being used in the healthcare and pharmaceutical sector to offer enhanced services to the patient and ensure timely delivery of medical supplies to hospitals and clinics. The outbreak of COVID-19 has necessitated the use of advanced SCM applications to streamline manufacturing, storage, and distribution processes.
Supply Chain Management Market Report Highlights
Polaris Market Research has segmented the supply chain management market report based on component, user type, deployment model, end-use industry, and region:
Supply Chain Management, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Supply Chain Management, User Type Outlook (Revenue - USD Billion, 2018 - 2030)
Supply Chain Management, Deployment Model Outlook (Revenue - USD Billion, 2018 - 2030)
Supply Chain Management, End-Use Industry Outlook (Revenue - USD Billion, 2018 - 2030)
Supply Chain Management, Regional Outlook (Revenue - USD Billion, 2018 - 2030)