The global cloud supply chain management (SCM) market is projected to develop from $ 8.26 billion in 2019 to $ 14.07 billion by 2025 at a notable compound annual growth rate (CAGR) 20% over the calculated period of 2020 to 2025.
The increasing adoption of cloud-based services by various enterprises has digitized the supply chain industry. Organizations restructure their supply chain into a digital supply network that not only unites the physical flows of products and services, but provides affordable, efficient and secure integration through redundant and endlessly scalable systems, and easier integration with existing systems.
Increased investment in IoT, a revolutionary technology with promising potential for the supply chain, is expected to stimulate the market. Monitoring and supervision are the main areas of deployment of IoT in supply chain management. Technology allows warehouse and fleet managers to track their cargo and inventory. It helps with crucial features such as real-time location tracking and emergency forecast planning.
Recent DEVELOPMENTS:
Market growth and trends:
The retail industry faces the challenge of a sluggish economy, declining sales and store margins, and rising labor costs. Players therefore need tools that allow organizations to manage paper documents and manage more efficient structured and unstructured data to stay competitive. Thus, most of the key players are adopting cloud-based technologies to transform their supply chains with unprecedented visibility and vision of data. Technological integrations are aimed at understanding the customer journey and making substantial improvements.
Additionally, Buy Online and Store Pickup is a trend towards a breakthrough in the market in 2019 that has been adopted by several large retailers to increase the frequency of their stores. Walmart, the largest retailer in the US has installed in-store collection towers and leveraged technologies, such as cloud computing software, mobile devices, and inventory and chain data-linked architectures that enable store websites and associates. Store Coordinated online ordering, store inventory, and cross-store shipping are stimulating the market.
Customer loyalty has become more important than before due to an increase in market players with the growth of electronic commerce. Cloud computing helps improve the customer experience by capturing and analyzing data from many sources, identifying patterns and forecasting needs, and providing on-demand services. It also enables retailers to access all commercial content from central business applications to provide fast responses and exceptional service to customers, setting them apart from their competitors.
Market Drivers and Restraints:
One of the main drivers in the global cloud supply chain management market is cost sustainability linked to the usage. This is the best possible product management, while offering a superior field of customization in online markets, giving the organization an advantageous position compared to its competitors. Plus, it's also the adaptability and coordination of multiple plans offering enhanced IT-based designs that help drive this all-inclusive market. At the same time, it is the viable oversight of information overload and information-related adaptability that adds to certain imperative factors that decisively affect the market and spur overall growth.
With each of these engines, there are also some limitations that pose challenges to cloud SCM market growth, for example, the security that is associated with the cloud applications. Security concerns include the dangers identified by pirated information or the confusion of information that structures a notable concern for the organization that uses these administrations. Another real restriction on the use of these frameworks would be reliance on focal access to verify the information along with the identified hazards, breaking down the entire framework, which also affects the market in general. The proactive idea of this innovation that enables faster transport of item data is likely to give opportunities to this market in the coming years.
REPORT METRIC |
DETAILS |
Market Size Available |
2020 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
20% |
Segments Covered |
By Solution, Service, Deplouyment, Vertical, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
SAP SE, Infor Inc., Oracle Corporation, The Descartes Systems Group Inc., JDA Software Group Inc., Manhattan Associates Inc., Logility Inc., Kinaxis Inc. and IBM Corporation and Others. |
Cloud Supply Chain Management Market segmentation:
Based on the solution, the Cloud SCM market is categorized into Demand Planning and Forecasting, Inventory and Warehouse Management, Product Life Cycle Management, Logistics Management, Sales and Operations Planning, Order Management, Transportation Management and others.
Based on the service, the SCM cloud market is divided into training and consulting, managed services, and support and maintenance.
Depending on the deployment, the market is segmented into hybrid cloud, public cloud, and private cloud. Hybrid cloud is found to be the most preferred type of deployment among organizations
Based on the vertical, the global market is segmented into energy and electricity, retail and wholesale, food and beverage, transportation and logistics, manufacturing, healthcare and life sciences, hotel government, and others. Among these, energy and electricity segment has been the largest income generator in the market during the calculated period.
Regional Analysis:
North America defines a remarkable portion in this market followed by Europe, where the adequacy of costs coupled with innovative advances in supply chain supervision have shaped important objectives behind the growth of this market . Asia-Pacific borders one of the most rapidly developing regions, with China, India and Japan among the nations contributing to growth. Developing an innovative progression in the monitoring of the store network as well as the growth of online personalization has been an imperative objective behind this growth in the APAC region.
Key market players:
Due to the growing demand for such solutions in the vertical sectors, many new players are entering this market. Some of the key players in the global cloud supply chain management market are SAP SE, Infor Inc., Oracle Corporation, The Descartes Systems Group Inc., JDA Software Group Inc., Manhattan Associates Inc., Logility Inc., Kinaxis Inc. and IBM Corporation.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]