What is the global market size of Supply Chain Management Market?

Supply Chain Management Market size was valued at USD 19018.18 million in 2021 and is poised to grow from USD 21129.20 million in 2022 to USD 48,586.3 million by 2030, at a CAGR of 11.1% during the forecast period (2023-2030).

What is the key driver of Global Supply Chain Management Market?

Growing Adoption of Cloud-based Solutions: Cloud-based supply chain management solutions are becoming increasingly popular due to their scalability, flexibility, and cost-effectiveness. These solutions enable organizations to manage their supply chain operations more efficiently and effectively, without the need for significant investments in IT infrastructure.

Supply Chain Management Market Size, Share, Growth Analysis, By Component(Solution, and Services), By Deployment(On-premises, and Cloud-based), By Enterprise Size(Small and Medium Sized Enterprises, and Large Enterprises), By Vertical(Retail & E-commerce, Healthcare, Automotive, Transportation & Logistics), By Region - Industry Forecast 2025-2032

Report ID: SQMIG45E2104 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 117 | Figures: 77

Supply Chain Management Market News

In October 2023, Accenture (NYSE: ACN) reached an agreement to acquire OnProcess Technology, a company specializing in supply chain managed services. This acquisition aims to assist organizations in optimizing processes, enhancing inventory management, and addressing intricate service challenges, ultimately contributing to improved operational efficiency.
In April 2021, SAP announced the acquisition of Signavio, a provider of business process intelligence and process management software. This acquisition is expected to enhance SAP's supply chain management offerings by providing customers with greater visibility and insights into their business processes.
In March 2021, IBM announced the launch of IBM Sterling Business Transaction Intelligence, a new AI-powered solution that provides real-time visibility and insights into supply chain transactions.

Supply Chain Management Market Report Snapshots

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Supply Chain Management Market size was valued at USD 23.48 Billion in 2023 and is poised to grow from USD 26.09 Billion in 2024 to USD 60.54 Billion by 2032, growing at a CAGR of 11.10% during the forecast period (2025-2032).

The industry's companies use a number of inorganic growth strategies, such as collaborations, frequent mergers, and acquisitions, to expand their product offering. Maersk clients may now increase supply chain velocity and service coverage to stay up with the e-commerce trend of US consumers seeking faster delivery to houses at a lower cost. Visible SCM's operational model and brand value will improve Maersk's clients' online shopping Logistics, allowing them to sell via any distribution channel, deliver via any manner, and efficiently manage their supply chains. 'SAP', 'Oracle Corporation', 'IBM Corporation', 'JDA Software', 'Kinaxis', 'Manhattan Associates', 'Infor', 'Blue Yonder', 'Descartes Systems Group', 'BluJay Solutions', 'E2open', 'LLamasoft', 'Elemica', 'GT Nexus', 'MercuryGate International', 'One Network Enterprises', 'Sage Group', 'Plex Systems', 'SAP Ariba', 'Zycus'

Increased adoption of AI and machine learning: AI and machine learning are being increasingly used in supply chain management to automate processes, optimize inventory levels, and improve forecasting accuracy. These technologies can help organizations to reduce costs, improve operational efficiency, and enhance customer satisfaction.

Asia Pacific is likely to grow the highest during the forecast period. The region's market growth can be attributed to the region's rising prospects as well as considerable investments in SCM. Many multinational companies have established manufacturing hubs in Asia-Pacific due to cost advantages. The need for streamlined and agile supply chain processes to manage diverse manufacturing operations further drives the demand for supply chain management solutions. Governments in the Asia-Pacific region, recognizing the strategic importance of a robust supply chain infrastructure, are investing in initiatives to improve logistics and supply chain capabilities, further fostering market growth.

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