According to the The Insight Partners’ new research report published by The Insight Partners, titled “SaaS Based SCM Market – Global Analysis and Forecast to 2025”, The global SaaS Based SCM market is expected to grow at a CAGR of 22.7% during the forecast period 2016 – 2025, to account to US$20.05 Bn by 2025.
Market Size Value in – US$ 2.65 Billion in 2015
Market Size Value by – US$ 20.05 Billion by 2025
Growth rate – CAGR of 22.7% from 2016-2025
Forecast Period – 2016-2025
Base Year – 2016
No. of Pages – 219
Historical data available – Yes
Segments covered – Deployment Model, Solution, Industry Vertical and End-user
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Demand for a more enhanced solution enabling good traceability and visibility in the supply chain
SaaS applications have the potential to cater services to small, medium and large enterprises efficiently. Cloud-based procurement management systems give all decision makers involved in the supply chain complete visibility and traceability of the inventory needs, the current position of the material being supplied, demand in the SaaS-based SCM market and the most updated cost information about the product. It gives more power and a bird’s eye view of the data to the user of the application. Value addition at each node of the supply chain has made it a lot simpler to create benefits for the end-consumer.
Also, SaaS vendors utilize redundant servers to back-up data. So if a server in the clouds malfunction, users would be automatically redirected to a back-up server without any noticeable performance issues. Also, SaaS vendors perform daily data back-ups. Since there is one version of the software, there are typically more vendor resources directed to identifying bugs/issues and the related fixes/patches required to address those concerns. These added benefits further result in greater adoption of SaaS-based SCM applications in the market.
Impact of COVID-19 Pandemic on SaaS based SCM Market
The outbreak first began in Wuhan (China) during December 2019, and since then, it has spread at a rapid pace across the world. The COVID-19 crisis is affecting the industries worldwide, and the global economy has witnessed the worst hit in 2020, which is likely to continue in 2021. The outbreak has created significant disruptions in primary industries such as logistics, retail, and e-commerce, and others; the sharp decline in international trade is negatively impacting the growth of the global economy. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak are affecting the businesses. The continuous loss in the business due to the lockdown measures is expected to directly impact the growth of the investments in security solutions worldwide. The disrupted business activities and product sales are expected to hinder the growth rate of the SaaS based SCMmarket.
SaaS is an emerging technology that is transforming traditional on-premise software systems into a modern cloud-based solution globally. Along with reduced efforts of running a process, installing and purchasing software, it also helps an organization minimize its costs and maximize its revenue. Consequently, private organizations across the world have understood the potential behind these services and come up with cloud based services.
Rapid pace of digitization and the need for cost efficient solution
In the era of automation, programmed machineries play vital role in reducing cost and time taken, to produce goods or to cater services. The users of applications are enabled to have more control over the sensitive data with features like 24/7 monitoring and security.
Rapid digitization has added pressures on the organizations today to rely on cloud-based applications. A cloud-based application can be used to easily scale up or scale down the operations as per the demand being currently witnessed in the SaaS-based SCM market. It handles flexibility to the application users. The flexibility offered by the SaaS model for SCM applications gives a competitive advantage to users by letting them to quickly adjust to the demands of their respective customers and incorporate the necessary changes in the operations efficiently. Users derive high efficiency through this with reduced cost pressures that make them highly competitive in the market.
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2017: Descartes Systems‘ Global Logistics Network solutions were implemented by the International Air Transport Association that would enable small to medium sized freight forwarders to electronically communicate with each other.
2017: Scott Equipment enhanced the online shopping experience with solution from Epicor
2017: QuadPackaging, backed by Quad/Graphics, is leveraged Epicor AVP to help clients’ brands get to the retail market.
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