Supply Chain Management Market Growth Projected at 11.8% CAGR, Envisions US$ 78.5 Billion Valuation by 2033

The supply chain management market is predicted to grow at a CAGR of 11.8% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 25.7 Billion in 2023 to US$ 78.5 Billion by 2033 end.

The market for supply chain management is witnessing an upward market direction as the adoption of this software is surging among multiple firms and organizations. This could be ascribed to the growing cognizance pertaining to efficiency-promoting attributes of SCM software while sourcing raw materials, assembling, and manufacturing goods or products. Supply chain management solutions also assist with financial information, tracking inventory and warehouse, product delivery, managing order entry, etc. All these benefits of using SCM solutions are projected to push the market forward in the forthcoming years.

Further on, the SCM solution allows strategic management of work with the firm’s distribution network, thus promoting market growth. Supply chain management is witnessing increased adoption among SMEs and startups. The system offers the benefits of an IT department via a cloud management system sans any employment of additional staff at additional costs. This allows in-house employees to concentrate on daily business operations. The flexibility of cloud-based SCM storage provides scalability, which is significant for SMEs.

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The supply chain management market encompasses the tools, technologies, and practices used by businesses to manage the flow of goods and services from raw material suppliers to end customers. It includes software solutions for logistics, inventory management, procurement, and demand forecasting. With the rise of globalization and e-commerce, the demand for efficient supply chain management solutions has grown significantly, driving innovation and competition among providers.

Key Takeaways from the Supply Chain Management Market Report:

The United States is projected to sustain its dominant market position in the forecast period by attaining US$ 16.6 Billion by 2033 end. The market is projected to grow at a CAGR of 9.6% in the meantime. The market growth can be attributed to the huge presence of adopters of such software in the region.

The fastest growing market for SCM software and services in China. The country is predicted to witness a blistering growth rate of 11.8% CAGR over the forecast period. Growing opportunities and investments in SCM solutions are anticipated to drive market growth.

Japan is forecast to arrive at a market valuation of US$ 6.7 Billion by 2033, growing at a CAGR of 14.9% between 2023-2033. Surging investments by Japan to reduce its supply chain insecurity are expected to propel market growth.

On the basis of the solution, the software segment is estimated to witness rapid growth over the forecast period, in comparison to its counterpart. The segment is forecast to exhibit a 12.8% CAGR during the stipulated time frame.

On the basis of enterprise size, large enterprises are projected to lead with the largest market share. Over the forecast period, the large enterprises segment is predicted to grow at a CAGR of 11.6%. The rising adoption of SCM solutions by large enterprises to integrate into the existing inventory and software is propelling segment growth.

News Featuring Market Developments by Companies Providing Supply Chain Management Solutions:

In February 2022, Oracle launched Supplier Rebate Management, which is a new solution under the category of Oracle Fusion Cloud Channel Revenue Management.

In February 2022, Oracle revealed that Bharti Airtel opted for Oracle Fusion Cloud SCM and Oracle Fusion Cloud ERP to simplify and digitize its planning, finance, and supply chain processes.