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SaaS-based SCM Market Emerging Trends, Demand, and Growth Opportunities

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.

ID: 1550226
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(businesspress24) - 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.

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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saas, based-scm-market, saas, based-scm, software, software-market, software-industry, technology,

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Date: 06/26/2019 - 10:51
Language: English
News-ID 1550226
Character count: 3489
Firma: Million Insights
Ansprechpartner: Tom Clark Feedback to about Pressrelease-id:
Stadt: Felton
Telefon: 14086102300

Meldungsart: Financial
Versandart: send
Freigabedatum: 26.06.2019

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