SaaS-based SCM Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
SaaS-based SCM Market – Overview
The growth in the SaaS-based SCM market has been growing rapidly because of a lot of factors. One of the prominent growth factors includes the rising demand for real-time supply chain analysis. In addition to this, growth in the ICT spending and technology progress in the supply chain industry are also contributing to the novel growth impetuses in the global market throughout the forecast period.
Development of the industrial-grade digital technology along with a rising requirement for the improved visibility of the supply chain further drive novel growth avenues in the global market. There has been a noticeable increase in the demand for management solutions among numerous enterprises. Healthcare and pharmaceutical companies are adopting SaaS-based SCM software at an increased rate in recent times. These factors are likely to fuel sales opportunities in the global market in the coming years.
SaaS-based SCM Market – Key Drivers
The deployment of cloud-based models does not involve higher capital costs. Further, it also requires low maintenance compared to other solutions, which further leads to increasing preference for these services by numerous enterprises, for instance, large enterprises and SMEs. Along with these factors, cost-effectiveness, faster data processing, real-time tracking of the supply chain, and direct IT control of the cloud deployment are also projected to contribute to the growth impetuses in the SaaS-based SCM market in the foreseeable years.
Compared to on-premise software for the management of the supply chain, cloud-based SCM software provides numerous benefits. Cloud SCM provides pay-per-usage licenses and there is a minimal requirement for the IT setup. These factors further stimulated the businesses to adopt these solutions in order to minimize the cost of operation and transform their procedures. Furthermore, the vendors from the SaaS-based SCM market are putting efforts to upgrade their portfolios which is contributing to the market growth.
On the flip side, the concerns related to security among various enterprises are likely to curtail the growth opportunities in the global market. On the contrary, the rising demand for software for transportation management systems is estimated to generate novel growth prospects in the global market throughout the forecast period.
SaaS-based SCM Market – Recent Developments and Key Players
The SaaS-based SCM market has been marked due to the presence of prominent players that are serving in regional as well as global areas. Their presence in the market is making the industry nature fragmented. Furthermore, these players are also taking into consideration certain novel growth strategies in order to achieve their pre-defined goals. Along with these factors, the rising penetration of the international market players and increasing awareness among consumers related to the industry brands are also driving new growth opportunities in the market. Novel product launches, mergers or tie-ups, product portfolio expansion, and the rising count of the R & D activities in enhancing the company portfolio are some strategies that are also adopted by these key market players to generate lucrative opportunities in the coming years.
Some of the key players in the SaaS-based SCM market are:
SaaS-based SCM Market – Regional Assessment
The SaaS-based SCM market has been serving in various regions across the world. The prominent regions in the market include North America, LAMEA, Asia Pacific, and Europe. North America, among these global areas, has been predicted to hold its dominance in the forthcoming years. The dominance is commonly attributed to the rising spending on logistics and transportation that further stimulates the implementation of automation technologies in supply chain and logistics. Further, the transportation & logistic industry has been large and competitive in the region. These factors are likely to fuel novel growth impetuses in the SaaS-based SCM market in the near future.
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