The global Supply Chain Management market size is projected to grow from USD 28.9 billion in 2022 to USD 45.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period. The major factors driving the market include the increasing adoption of cloud supply chain management among SMEs and enhancing business continuity by minimizing potential failures.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=190997554
Among hardware, Barcodes and barcode scanners to capture a higher market share
Barcodes are used in encoding information related to a product, such as serial numbers, product numbers, and batch numbers. Every product is labeled with a unique barcode. These barcodes enable manufacturers to track and identify products, enhance and optimize the receiving, packing, shipping, and delivery processes, as well as track transport providers, retailers, and hospitals. As the product reaches the destination, a quick scan of the barcode allows instant and automatic reconciliation of the order, and hence, plays an important role in SCM. Advantages of barcodes, such as improved accuracy and speed, low operational and administrative expenses, reduced capital expenditure, enhanced inventory management, product management, and monitoring, are witnessing an increase in popularity and encouraging the adoption of barcodes and barcode scanners across several industries, such as manufacturing, FMCG, retail, and eCommerce.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The increased shift of Asia Pacific enterprises toward leaner and agile supply chains with end-to-end visibility by the adoption of the latest technologies is also one of the biggest drivers of SCM software and services in the region. Increasing number of SME vendors across Asia Pacific region, along with advancement in technology across India, China, Japan and Australia is contributing to the growth of this region.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=190997554
Key players in the global SCM market include SAP (Germany), Oracle (US), Infor (US), Descartes (Canada), Manhattan Associates (US), IBM (US), Logility (US), Kinaxis (Canada), Blue Yonder (US), Körber (US), Coupa (US), Epicor (US), BluJay (US), OMP (US), E2open (US), JAGGAER (US), Zycus (US), and GEP (US). These companies adopt various strategies to expand their global presence and market share. Agreements, mergers and acquisitions, and new product developments are some of the major strategies adopted by the market players to achieve growth in the SCM market. These companies are well-positioned to provide SCM services for various vertical applications, such as FMCG, retail and eCommerce, healthcare, manufacturing, automotive, and other verticals.
SAP is a provider of business application and analytics software across several business lines, including asset management, commerce, finance, human resources, manufacturing, marketing, sales, supply chain, sourcing and procurement, and manufacturing. The company also engages in enterprise cloud computing and digital commerce. It operates through three segments: applications, technology, services, and qualtrics. The company offers a range of comprehensive solutions through various product categories, such as ERP and finance, CRM and customer experience, digital supply chain, network and spend management, business technology platform, and HR and people engagement. The company’s digital supply chain portfolio delivers an integrated suite of software solutions for designing, planning, manufacturing, delivering, and operating products. SAP provides solutions through 12 major business lines: SCM, sourcing and procurement, service, sales, R&D/engineering, marketing, manufacturing, human resources, finance, commerce, asset management, and technology. The company offers solutions for 25 industries, including oil and gas, travel and transportation, retail, healthcare, chemicals, telecommunications, life sciences, banking, and aerospace and defense, and operates in more than 180 countries across the globe. Some of its notable subsidiaries are Ariba, Inc. (US), Concur Technologies, Inc. (US), SAP Asia Pte Ltd (Singapore), and SAP UK Limited (UK).
Oracle is one of the leading providers of a wide array of technologies. The company operates in three business areas: cloud and license, hardware, and services. The company offers middleware software, Oracle databases, cloud infrastructure, application software, and hardware systems, including networking products, computer servers, and storage-related services. It has a broad portfolio of SCM applications that enable organizations to improve outcomes for operational efficiency while ensuring cost savings. Oracle offers a comprehensive portfolio of cloud solutions for business functions, such as enterprise resource planning, human capital management, customer experience, and SCM. The Oracle SCM offerings enable organizations to organize and improve their supply chains efficiently. The offerings include Oracle product lifecycle management cloud, Oracle supply chain planning cloud, Oracle inventory management cloud, Oracle order management cloud, Oracle order manufacturing cloud, and Oracle logistics cloud. Oracle’s geographic operations are spread across Europe, the Middle East, Africa, the Asia Pacific, North America, and South America. Some of its notable subsidiaries include Oracle International Corporation (US), Oracle Global Holdings, Inc. (US), Oracle America, Inc. (US), Oracle Technology Company (Ireland), Oracle Systems Corporation (US), and OCAPAC Holding Company (Ireland).
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/supply-chain-management-market-190997554.html