The “Supply Chain Management Market by Component (Hardware (Barcode and Barcode Scanners and RFID Tags and Readers), Software, and Services), Deployment Mode (Cloud and On-premises), Organization Size, Vertical, and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global post-COVID-19 SCM market size to grow from USD 23.2 billion in 2020 to USD 41.7 billion by 2026, at a CAGR of 10.3%.
The major growth drivers for the market include increasing demand for greater visibility and transparency in supply chain data and processes. However, growing security and privacy concerns among enterprises may restrain the market growth.
Among hardware, RFID tags and readers to grow at the highest CAGR during the forecast period
RFID tags help in scanning devices or items to determine their location, contents, manufacturing date, shipping data, and order numbers. RFID plays a major role in inventory management, warehouse management, and the retail sector. In the supply chain, RFID plays a major role in enhancing the visibility from the point of manufacturing throughout the supply chain, and most significantly from the backroom to the floor and ultimately to the exit door. RFID helps in lowering the operational costs incurred from the loss or misplacement of items and can help track and easily find all types of supplies, from low-cost gloves to high-cost medical equipment. RFID technology reduces costs, increases safety, and improves SCM. Hence, expected to grow at the highest CAGR during the forecast period.
Large enterprises segment to hold a larger market size during the forecast period
The reduction in infrastructure costs, improvement in business functioning, and sustainability in the intense competition are the key factors that are projected to drive the adoption of SCM in large organizations. The investments done by large enterprises in advanced technologies for increasing productivity and efficiency of the company is also a key factor that is projected to drive the adoption of SCM in large enterprises.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
Due to the presence of more middle-class societies, APAC has more varied customer demands. Approximately 70% of the world’s container traffic passes through ports in APAC. Moreover, most APAC businesses reach their markets through complex supply chains that include many intermediaries, such as trading partners and a variety of different paths to market. Supply chains in APAC are often significantly more difficult to manage as compared to other regions of the world. To reduce these complexities, the adoption of SCM in the region is increasing. ? The increased shift of APAC enterprises toward leaner and agile supply chains with end-to-end visibility by the adoption of the latest technologies is also one of the biggest drivers of SCM software and services in the region.
- Demand for Greater Visibility and Transparency in Supply Chain Data and Processes
- High Growth in Ecommerce
- Increasing Adoption of Cloud Supply Chain Management Among SMEs
- Enhancing Business Continuity by Minimizing Potential Failures
- Growing Security and Privacy Concerns Among Enterprises
- Inaccuracies in Data Sets
- Advances in Technologies Are Making Evolution to the Supply Chain Industry
- Integration of Ai Capabilities with SCM Offerings
- Limited Awareness of Supply Chain Management Tools
- Lack of Technical Expertise
- Shortage of Supply and Demand Shocks During COVID-19
- Blue Yonder
- Blujay Solutions
- Coupa Software
- Llamasoft (Coupa Software)
- Manhattan Associates
- Sap Se
- the Descartes Systems Group
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