Supply Chain Management Software Market Size, Share, Growth Analysis, By Software Type (Purchasing Management Software and Inventory Management Software), By Deployment Mode (On-premises, Cloud-based), By Organisation Size (SMEs, Large Enterprises), By Industry Vertical (Healthcare & Pharmaceuticals, Manufacturing), By Region - Industry Forecast 2024-2031

Global Supply Chain Management Software Market size was valued at USD 18 billion in 2022 and is poised to grow from USD 18.76 billion in 2023 to USD 20.07 billion by 2031, growing at a CAGR of 4.20% during the forecast period (2024-2031).

One notable strategy is between the Oracle and DHL supply chains. In 2023, it partnered with DHL to optimize its supply chain logistics using Oracle’s cloud-based solutions. This collaboration enabled DHL to optimize logistics and reduce transportation costs using Oracle's advanced predictive analytics, real-time tracking, and automated workflows. DHL can build route planning, warehousing management and optimized last-mile delivery through Oracle's AI-powered systems. This example illustrates how partnerships in the SCM software market can drive innovation and add value to end users through a combination of technical and business expertise. 'International Business Machines Corporation (IBM) (US) ', 'Kinaxis Inc. (Canada) ', 'Korber AG (Germany) ', 'Manhattan Associates (US) ', 'Oracle Corporation (US) ', 'SAP SE (Germany) ', 'The Descartes Systems Group Inc. (Canada) ', 'Panasonic (Japan) ', 'Epicor Software Corporation (US) ', 'E2open, LLC (US) ', 'Körber (Germany) ', 'GEP Worldwide (US) ', 'IFS AB (Sweden) ', 'Logility, Inc. (US) ', 'RELEX Solutions (Finland) ', 'Basware Corporation (Finland) ', 'Softeon (US) ', 'Tecsys Inc. (Canada) ', 'Verizon Connect (US) ', 'Uber Technologies, Inc. (US)'

Modern businesses rely heavily on technology, with larger companies having their own IT department that manages and manages business processes. SMEs don’t really have adequate IT infrastructure. due to additional cost requirements and for managing and maintaining an IT department. Therefore, most SMEs and startups are adopting cloud-based SCM systems, where they can reap the benefits of the IT department through cloud management systems without having to hire additional staff at additional cost. The storage flexibility of cloud-based SCM provides scalability, which is very important for SMEs and will help them with unexpected growth in the first year of business operations. Besides, cloud based SCM provides powerful inventory management for SMEs, in latest performance improvements It is very responsive.

Technological Advancement Drives Growth in Supply Chain Management: Advances in information and communication technologies make the supply chain development more feasible. Technologies such as IoT, cloud computing, 5G, blockchain, AI, 3D printing, and robotics are all needed to enable the digital supply chain of the future because transparency and computation are key areas of supply chain for in-service, real-time viewing. GPS trackers can now track everything from the location of a shipment to its current temperature, delivering up-to-the-minute data. Real-time features and affordable tracking are useful in the ongoing COVID-19 pandemic.

North America accounted for a market size of 39.2% in 2023 and is estimated to dominate the market during the forecast period. The large adoption rate of such software in the region, the fact that the industry is growing technologically and other major players in this sector such as IBM, Microsoft, Telus International, Infor are a factor another major contributor to the growth of the market. SCM software in the US. are numerous and contribute significantly to revenue. The supply chain management software market in the US. is growing significantly and accounts for the largest revenue share of 74.2% in 2022. Adoption of advanced technologies such as artificial intelligence, data analytics and automation to increase visibility, traceability and efficiency in the supply chain.