SaaS-based SCM provides end-to-end visibility on goods and product mobility through enhanced analytics and supply chain forecasting models.
PORTLAND, PORTLAND, OR, UNITED STATE, September 22, 2023/EINPresswire.com/: According to the report, the global SaaS-based SCM industry generated $7.3 billion in 2020 and is expected to reach $26.0 billion by 2030, witnessing a CAGR of 13.4% from 2021 to 2030.
The increase in demand for real-time supply chain analysis, the development of industrial-grade digital technology, and the upsurge in need for improved supply chain visibility drive the growth of the global SaaS-based SCM market. However, security concerns over cloud deployment among enterprises restrain market growth. On the other hand, a rise in ICT spending and the adoption of SaaS-based SCM software by healthcare and pharmaceutical companies create new opportunities in the coming years.
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COVID-19 scenario:
➢ Owing to the outbreak of the COVID-19 pandemic, various industries were affected, and it became increasingly difficult to maintain the complex supply chain networks. This, in turn, raised the demand for SaaS-based SCM.
➢ According to the survey conducted by the Institute for Supply Chain Management Organisation in March 2020, nearly 75% of the companies highlighted SCM disruptions in one form or another. This surged the need for supply chain visibility and increased the adoption of SaaS-based SCM.
➢ Enterprises across the globe have been reviewing their supply chain strategies and becoming collaborative, resilient, and cooperative with clients, suppliers, and other stakeholders.
Based on the solution, the software segment accounted for the highest market share in 2020, contributing to nearly two-thirds of the global SaaS-based SCM market, and is projected to continue its leadership status during the forecast period. This is attributed to a high level of cost savings on the total cost of ownership and an increase in the need for real-time material monitoring and forecasting of production plans by companies operating in several industry verticals, including consumer goods, retail, manufacturing, and others. However, the service segment is expected to manifest the highest CAGR of 15.6% from 2021 to 2030, owing to the effective functioning of platforms and software.
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Based on industry vertical, the consumer goods segment contributed to the highest market share in 2020, accounting for more than one-fifth of the global SaaS-based SCM market, and is estimated to maintain its dominance in terms of revenue during the forecast period. This is attributed to smooth synchronisation among in-store, online, and mobile applications for a consistent consumer experience and ensuring collaboration between stakeholders for personalised customer service. However, the healthcare and pharmaceuticals segment is projected to manifest the fastest CAGR of 17.1% from 2021 to 2030, owing to the need to reduce overall costs, the application of advanced technologies, and the implementation of new capabilities, such as digital technology and agility.
Based on region, North America contributed the highest market share in terms of revenue in 2020, accounting for around two-fifths of the global SaaS-based SCM industry, and is projected to maintain its lead position by 2030. This is attributed to a surge in spending on transportation and logistics that improves the implementation of automation technologies in logistics and supply chains and their adoption by the transportation and logistics industry in the region.
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However, Asia-Pacific is estimated to register the fastest CAGR of 15.1% during the forecast period, owing to strong economic growth and ongoing development in the services sector that led business enterprises to invest heavily in SaaS-based SCM to sustain the growth and improve productivity.
Leading market players:
➢ Accenture
➢ SAP SE
➢ Oracle Corporation
➢ Blue Yonder Group, Inc.
➢ Infor
➢ Manhattan Associates
➢ The Descartes Systems Group, Inc.
➢ HighJump (Korber AG)
➢ Kinaxis Inc.
➢ IBM Corporation
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