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).

Supply chain management software market growth can be attributed to increased demand and increased awareness of SCM solutions, such as logistics planning, planning & analysis, accurate forecasting, waste reduction, manufacturing execution and appropriate integration of business information. In addition, rapid adoption of information technology and technological advancements improves and supports the overall supply chain, helping market expansion. In the context of the COVID-19 pandemic, the widespread adoption of SCM has led to significant advances in forecasting and meeting demand and supply needs.

The adoption of SCM software in various industries and organizations is increasing as it can effectively monitor the collection of raw materials, goods or any materials thus improving market growth. Also, it performs inventory and warehouse tracking, order entry, distribution channels, product delivery, demand planning, supply chain management, purchasing, financial information also helps management. In addition to improving market development, these functions can work with the company’s division networks in a positive manner on, which in turn drives market expansion. Lack of IT infrastructure in developing countries and increasing security and privacy concerns are hampering the growth of the global market.