Supply Chain Management Market to Reach $85.3 Billion by 2033 at 11.1% CAGR: Allied Market Research

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Apr 29, 2024, 05:52 ET

Rise in technological advancements and investments and surge in demand and usage of supply chain management services and software by various enterprises and industries are the major factors that drive the growth of the global supply chain management market.

NEW CASTLE, Delaware, April 29, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "SCM Industry by Component (Solution and Service), Solution Type (Transportation Management System, Warehouse Management System, Supply Chain Planning, Procurement and Sourcing, and Manufacturing Execution System), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprises, and Small and Medium-sized Enterprises), and Industry Vertical (Retail and Consumer Goods, Healthcare and Pharmaceuticals, Manufacturing, Food and Beverages, Transportation and Logistics, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2033." According to the report, the global supply chain management market generated $27.2 billion in 2022, and is estimated to reach $85.3 billion by 2033, witnessing a CAGR of 11.1% from 2023 to 2033. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Prime Determinants of Growth

Rise in technological advancements & investments and surge in demand & usage of supply chain management services & software by various enterprises and industries boost the growth of the global supply chain management market. In addition, the increase in adoption of SCM software in healthcare and pharmaceutical companies positively impacts the growth of the SCM industry. However, lack of awareness about supply chain management software and increase in security and privacy concerns among businesses hamper the supply chain management market growth. On the contrary, the increase in advanced information and communications technology and increase in the e-commerce sector is expected to offer remunerative opportunities for expansion of the supply chain management market during the forecast period.

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Report Coverage & Details:

Report Coverage	Details
Forecast Period	2023–2033
Base Year	2022
Market Size in 2022	$27.2 Billion
Market Size in 2033	$85.3 Billion
CAGR	11.1 %
No. of Pages in Report	374
Segments covered	Component, Solution Type, Deployment Mode, Enterprise Size, Industry Vertical, and Region.
Drivers	Rise in technological advancement and investments Surge in demand and usage of supply chain management services and software by various enterprises and industries Increase in adoption of SCM software in healthcare and pharmaceutical companies
Opportunities	Increase in advanced information and communications technology Increase of the e-commerce sector
Restraints	Lack of awareness about supply chain management software Upsurge in security and privacy concerns among businesses

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Russia-Ukraine War Scenario

The Russia-Ukraine conflict has a significant impact on the global supply chain management market on every level. The warehouse capacity and disruption of transportation routes availability has started fading and impacted the industry.
The war has disrupted the trade flows between Russia, Ukraine, and other countries. This has affected supply chain management companies to find alternative sources for raw material and finished goods. The disruption also led to delays in shipment, which leads to an increase in costs and reduced customer satisfaction.
Furthermore, the conflict has created uncertainty and risk for businesses operating in the region. Companies deal with the risk of sanctions which has the potential for supply chain disruptions and the risk of doing business in a politically unstable environment.

The solution segment to maintain its leadership status throughout the forecast period

By component, the solution segment held the highest market share in 2022, accounting for nearly two-thirds of the supply chain management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to it helping the management team to make crucial decisions about business strategies by adopting cost-effective measures and improving operational efficiency. However, the services segment is projected to manifest the highest CAGR of 12.9% from 2023 to 2033, owing to the adoption of supply chain management services across different industry verticals, as it assures effective functioning of platforms and software.

The procurement and sourcing segment to maintain its leadership status throughout the forecast period

By solution type, the procurement and sourcing segment held the highest market share in 2022, accounting for nearly two-fifths of the SCM industry revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in need for improving procurement function along with the growth in penetration of advanced technologies across number of industry verticals. However, the transportation management system segment is projected to manifest the highest CAGR of 15% from 2023 to 2033, owing to number of transportation management system vendors and third-party providers adopting digitized systems for supply chain management and transportation activities.

The on-premise segment to maintain its leadership status throughout the forecast period

By deployment mode, the on-premise segment held the highest market share in 2022, accounting for nearly two-thirds of the supply chain management market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to collection, display, and organization of important data from customer communication by means of e-mails, calls, and Chabot's using the company's own IT infrastructure. However, the on-demand/cloud-based segment is projected to manifest the highest CAGR of 13.1% from 2023 to 2033, owing to the development of sophisticated applications for efficient data management and service delivery, which is projected to be facilitated by improvements in information-sharing technologies and rise in use of mobile devices.

The large enterprise segment to maintain its leadership status throughout the forecast period

By enterprise size, the large enterprise segment held the highest market share in 2022, accounting for nearly two-thirds of the SCM industry revenue and is estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for constant monitoring systems and automation features such as advanced shipment notification management, customizable notifications, in-transit status updates, user-configurable dashboards, and visual supply chain maps in numerous large-sized industries. However, the small and medium-sized enterprise (SMEs) segment is projected to manifest the highest CAGR of 12.5% from 2023 to 2033, owing to efficiently achieving their goals by having better operational services and meeting the target by increasing productivity.

The retail and consumer goods segment to maintain its lead position during the forecast period

By industry vertical, the retail and consumer goods segment accounted for the largest share in 2022, contributing for nearly two-fifths of the supply chain management market revenue, owing to the growing complexity of retail supply chain networks over time due to the presence of a large number of suppliers & logistics providers, channels, products, and value-added offerings. However, the automotive segment is expected to portray the largest CAGR of 16.5% from 2023 to 2033, owing to the emergence of blockchain technology to enhance transparency, traceability, and security in supply chain transactions, particularly for tracking the provenance of raw materials and ensuring compliance with regulatory standards.

Asia-Pacific region to maintain its dominance by 2033

By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the SCM industry revenue, owing to increasing technological advancements such as using business intelligence for targeting regular customers, and introduction of digital technologies. The Asia-Pacific region is expected to witness the fastest CAGR of 13.3% from 2023 to 2033, owing to increase in requirement for enhanced supply chain visibility, development of industrial-grade digital technology, and shift in inclination of the suppliers toward cloud-based supply chain management software acting as growth catalysts for the overall market.

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Leading Market Players: -

Epicor Software Corporation
HIGHJUMP
INFOR
IBM Corporation
Blue Yonder Group, Inc.
KINAXIS
Manhattan Associates, Inc.
Oracle Corporation
SAP SE
The Descartes Systems Group Inc.

The report provides a detailed analysis of these key players of the supply chain management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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