The global cloud SCM market is expected to grow at 20.0% CAGR during the forecast period with the market size reaching USD 15.3 billion by 2024. The market is driven by the factors such as low initial investment level and increasing high demand from transportation and logistics sector. Industry players are expanding their product portfolio with focus on easing the complexities of supply chain by providing inventory & warehouse management, transportation management, demand planning & forecasting, logistics management, and sales and operations planning among others.
Market Report "Global Cloud Supply Chain Management (SCM) Market" – Analysis and Forecast (2018-2024)
The cloud SCM market is growing significantly due to the factors such as reduction in supply chain management cost by using these cloud services and solutions and also lower chances of potential failures in supply chain. The technology offers enterprises real-time updates on inbound shipment and quality levels. A real-time update of quality levels helps enterprises to ensure minimum errors in the supply of goods from production centers to customers. This in turn helps them to reduce the overall cost and increases customer satisfaction level. Also, the increasing awareness among enterprises regarding the benefits of these solutions and services supports the demand for these solutions, globally.
Different solutions provided in the cloud SCM market are inventory & warehouse management, transportation management, demand planning & forecasting, logistics management, product life-cycle management, sales & operations planning, product master data management, order management and procurement & sourcing. Demand planning & forecasting solutions hold the largest share in the market, globally and is also expected to witness the fastest growth during the forecast period as it helps enterprises to accurately predict the revenue forecast and manage optimum inventory levels.
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The key services offered by the cloud SCM industry players include support & maintenance, training & consulting and managed services. Support and maintenance services market is predicted to witness the fastest growth at a CAGR of 24.0% during the forecast period. On the basis of deployment type, the market is segmented into public cloud, hybrid cloud, and private cloud. Hybrid cloud hold the largest share in the global market. However, the private cloud SCM market is anticipated to grow at the fastest CAGR during the forecast period, due to instant provisioning, scalability, quick expansion of server base.
On the basis of user-type, the market is segmented into small and medium enterprises, and large enterprises. Large enterprises are the major contributor to the cloud SCM market as the supply chain remains complex in these enterprises, thus requiring cloud SCM solutions for efficient management of its supply chain. Among different industries including retail & wholesale, energy & power, transportation & logistics, food & beverage, manufacturing, hospitality, government, and healthcare & life sciences, the Cloud SCM market generated the largest revenue from the energy & power industry as the cloud SCM solutions help enterprises to make supply chain management resilient and efficient.
North America is the largest Cloud SCM market, globally as the players in the region are continuously focusing in the research and development and collaborations in the cloud SM industry. Asia-Pacific is observed to witness the fastest growth in the market as different countries in the region are adopting online business practices and investing in the smart manufacturing and distribution of goods.
Key players operating in the cloud SCM industry are Oracle Corporation, SAP SE, JDA Software Group, Inc., Infor, Inc., Manhattan Associates, Inc., Descartes Systems Group, Inc., Kewill, Inc., TECSYS, Inc., Kinaxis, Inc. and Logility, Inc.
Global Cloud SCM Market Coverage
Solution Insight and Forecast 2014-2024
Service Type Insight and Forecast 2014-2024
Deployment Type Insight and Forecast 2014-2024
User-Type Insight and Forecast 2014-2024
Industry Insight and Forecast 2014-2024
Cloud SCM Market by Region
Middle East & Africa (MEA)