Cloud Supply Chain Management Market Report Scope and Overview
The SNS Insider report estimates that the Cloud Supply Chain Management Market reached a value of USD 25.2 Billion in 2023. This figure is projected to climb significantly, reaching USD 83.5 Billion by 2031. This translates to a Compound Annual Growth Rate (CAGR) of 16.12% over the forecast period 2024-2031.
Several key factors are propelling the Cloud Supply Chain Management Market forward. The market report highlights the growing importance of expandable data, cost-effectiveness, and the increasing use of cloud-based solutions in transportation management. As businesses prioritize cloud-based solutions, the market benefits from rising awareness of their advantages. Additionally, lower initial investments and the pressing need for efficient management solutions are driving adoption.
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Some of the Major Key Players Studied in this Report are:
- SAP SE
- Oracle Corporation
- Infor
- Descartes Systems Group
- IBM Corporation
- Manhattan Associates
- Logility
- Kewill
- Kinaxis
- TECSYS
- Others
The e-commerce boom presents a significant opportunity for the Cloud Supply Chain Management Market. These solutions empower e-commerce companies to streamline product delivery, ensuring effective customer retention and satisfaction. Furthermore, the proliferation of Small and Medium Enterprises (SMEs) contributes to market growth. Cloud SCM solutions play a critical role in addressing the complexities of modern supply chains, particularly for SMEs with limited resources.
However, challenges remain. Data security concerns, the lack of expertise in managing cloud-based systems, and data segregation issues among enterprises pose hurdles to market growth. Addressing these challenges will be crucial for sustained market expansion.
Segmentation Analysis
The Solutions segment dominates the Cloud Supply Chain Management Market, driven by the growing application of these solutions in transportation management, procurement, and sourcing. This segment offers enhanced functionality, catering to the evolving needs of enterprises seeking to optimize their supply chain processes.
Within the industry verticals, the Food & Beverage sector takes center stage in market growth. Cloud Supply Chain Management is extensively utilized in this industry due to its ability to provide real-time supply chain visibility and cost-reduction capabilities. The dynamic nature of the Food & Beverage sector, coupled with the need for operational efficiency, drives the increased adoption of cloud SCM solutions.
Market Segmentation and Sub-Segmentation Included Are:
On The Basis of Solution
- Transportation management
- Procurement and sourcing
- Order management
- Sales and operation planning
- Inventory and warehouse management
- Demand planning and forecasting
On The Basis of Service
- Training and consulting
- Support and maintenance
- Managed services
On The Basis of Deployment Model
- Public cloud
- Private cloud
- Hybrid cloud
On The Basis of Vertical
- Food and beverage
- Healthcare and life sciences
- Manufacturing
- Retail and wholesale
- Transportation and logistics
- Others
Impact of Global Events
The Russia-Ukraine war has had a ripple effect on the Cloud Supply Chain Management Market. Disruptions in global trade routes and supply chains have created challenges for businesses. However, the war has also highlighted the importance of supply chain resilience and agility. Cloud-based solutions can offer businesses the flexibility and visibility needed to navigate disruptions and adapt to changing circumstances. In the long run, the war may serve as a catalyst for increased adoption of cloud SCM solutions as businesses seek to build more robust supply chains.
An economic slowdown could potentially dampen the growth of the Cloud Supply Chain Management Market. Reduced consumer spending and business investment could lead to a decrease in demand for cloud-based solutions. However, the long-term benefits of cloud SCM, such as cost savings and operational efficiency, are likely to remain attractive propositions for businesses, even in a sluggish economy.
Key Regional Developments
North America asserts dominance in the Cloud Supply Chain Management Market and is anticipated to maintain its position throughout the projected period. The region’s strong shift towards cloud environments and the growing demand for customized infrastructure management are key factors contributing to its leadership. Furthermore, the expanding gross refrigerated storage capacity in the United States acts as a further growth driver. Rising cloud usage in the region is expected to stimulate the adoption of data analytics platforms, fostering overall market expansion.
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Recent Developments
In May 2022: SAP and Apple partnered to streamline the digital supply chain. They unveiled a suite of applications designed to transform operations on iPhones and iPads.
In June 2022: XPO Logistics collaborated with Google Cloud to leverage AI, ML, and data analytics capabilities for enhanced supply chain efficiency. This collaboration promises quicker, more effective, and more visible supply chains.
Key Takeaways
- Businesses are increasingly recognizing the benefits of cloud-based solutions for supply chain management. These advantages include scalability, cost-effectiveness, real-time data access, and improved visibility all essential for navigating the complexities of modern supply chains.
- The Cloud Supply Chain Management Market is fueled by demand from various sectors, including e-commerce, food & beverage, and manufacturing. Each industry leverages cloud SCM solutions to address specific challenges and optimize their unique supply chain processes.
- The integration of AI/ML and IoT technologies with cloud SCM solutions will unlock new possibilities for optimizing supply chains. Businesses can expect enhanced automation, predictive analytics, and real-time decision-making capabilities.
The Cloud Supply Chain Management Market is expected to witness continued growth in the coming years. Advancements in cloud technology, such as artificial intelligence and machine learning (AI/ML), will further enhance the capabilities of cloud SCM solutions. Additionally, the growing adoption of the Internet of Things (IoT) will generate vast amounts of data that can be leveraged by cloud-based platforms to optimize supply chains. The increasing focus on sustainability is also likely to drive market growth, as cloud SCM solutions can help businesses monitor and reduce their environmental impact.
Table of Contents- Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Impact Analysis
- Impact of Ukraine- Russia war
- Impact of Ongoing Recession on Major Economies
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- Cloud Supply Chain Management Market Segmentation, by Solution
- Transportation management
- Procurement and sourcing
- Order management
- Sales and operation planning
- Inventory and warehouse management
- Demand planning and forecasting
- Cloud Supply Chain Management Market Segmentation, by Service
- Training and consulting
- Support and maintenance
- Managed services
- Cloud Supply Chain Management Market Segmentation, by Deployment Model
- Public cloud
- Private cloud
- Hybrid cloud
- Cloud Supply Chain Management Market Segmentation, by Vertical
- Food and beverage
- Healthcare and life sciences
- Manufacturing
- Retail and wholesale
- Transportation and logistics
- Others
- Regional Analysis
- Introduction
- North America
- Europe
- Asia-Pacific
- The Middle East & Africa
- Latin America
- Company Profile
- Competitive Landscape
- Competitive Benchmarking
- Market Share Analysis
- Recent Developments
- USE Cases and Best Practices
- Conclusion
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