SaaS-based SCM Market Overview by Top Companies and Region
The global SaaS-based
SCM market is expected to display higher growth rate
over the next five years. Rapid surge in the SaaS-based SCM market is credited
to development of private, public, and hybrid deployment models of
software-as-a-service (SaaS) solution in supply chain management (SCM). Soaring
number of connected devices in IoT and increasing need for advanced &
real-time analytics are key driving factors for market growth in the past few
years. Globally, market is predicted to grow at a CAGR of 20.52% in the
upcoming years, providing numerous opportunities for market players to invest
for research and development in the SaaS-based SCM market.
Shifting trend towards SaaS-based SCM
solution by large-scale enterprises is attributed to the recent enhancement and
modernization of supply chain planning processes without building new and
maintaining complex IT infrastructures. Several large-scale enterprises are
adopting demand-based solutions platform available as a software-as-a-service
(SaaS) for supply chain management solutions. Software-as-a-service
(SaaS)-based supply chain management (SCM) solutions offer the full
functionality of the on-premises version. Adoption of software-as-a-service
(SaaS)-based supply chain management (SCM) solutions helps organization to
limit up-front investment for software licenses and implementation.
Key factors driving the market include
high-end traceability and visibility across supply chain network. Supply chain
management assists in maintenance of the inventory levels by fulfilling
consumer demands. Supply chain management solutions are focusing on higher manufacturing
production, reduction of rework, standardization of industrial processes, and
maintenance of inventory levels. Increasing adoption of software-as-a-service
(SaaS) supply chain management software offer improved visibility with a
cross-functional access. In addition, cloud integration provide organizations
with several advantages such as reduction in manufacturing errors, maintenance
of inventory levels, and improvements in customer service.
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Software-as-a-service (SaaS)-based SCM
software provides full supply chain planning functionality in single solution,
which is hosted beyond the corporate firewall. Thus, delivering powerful
software platforms helps to eliminate the need to perform updates and fixes. These
factors are expected to drive the growth of the market over the forecast
period.
The market is broadly categorized into
six major segments based on the application type such as consumer goods sector,
retail sector, food & beverages sector, healthcare & pharmaceuticals
industry, manufacturing sector and logistics & transportation industry. The
consumer goods segment is growing rapidly in the market with substantial
revenue generation in the last few years.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies in consumer goods sector & retail sector, surge in
number of research & development activities in the region and existence of
well-established IT infrastructure.
Asia-Pacific region is estimated to
hold major share in the SaaS-based SCM market with massive growth in forecast
period. Countries such as India, China, Japan and Singapore are leading the
Asia-Pacific market with strong economic growth, increasing demand for
real-time monitoring, soaring adoption of digital technology, development of
cost-effective solutions, and significant investment by leading industry
players considering potential growth opportunities in the region.
The key players in the SaaS-based SCM
market are Accenture Corp., HighJump, Inc., International Business Machines
Corporation, Infor, Inc., JDA Software Group, Inc., Kinaxis, Inc., Logility,
Inc., Manhattan Associates, Inc., Oracle Corp., and SAP SE.
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