LONDON--(BUSINESS WIRE)--The global SCM software market is expected to post a CAGR of close to 10% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is improved traceability, visibility, and productivity of supply chain. SCM is used to maintain inventory levels to address future customer demand. The use of SCM maximizes productivity, standardizes procurement, and minimizes stock keeping. Companies that have multiple production facilities face challenges when coordinating between various procurement and stock keeping departments if they do not use SCM software solutions. Moreover, SCM software solutions not only improve the visibility of cross-functional departments for organizations, but also identify the freight cost of the supply chain to track and make appropriate changes to reduce the cost of transportation. Thus, these factors are expected to drive the growth of the global SCM software market, during the forecast period.
This market research report on the global SCM software market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the availability of SCVEM as one of the key emerging trends in the global SCM software market:
Global SCM software market: Availability of SCVEM
Supply chain visibility and event management (SCVEM) is an integral part of SCM software solutions. It allows companies to manage events in different departments and other supply chain partners. It is an integrated system that helps companies define important aspects of the entire supply chain. It allows the management team to make important decisions about business strategies to adopt cost-effective measures and improve operational efficiency. All users across the supply chain are informed about their activities by the software. Moreover, the SCVEM module of the SCM software solutions control, measure, stimulate, notify, and monitor all business processes that are in accordance with supply chain activity, resulting in efficiency and boosting the growth of the market.
“SCM software solutions enable the sharing of real-time information between the various stakeholders in a supply chain system. Detailed data related to operating costs and inventory are made available through effective use of SCM software solutions, boosting the growth of the overall industry,” says a senior analyst at Technavio for research on enterprise application.
Global SCM software market: Segmentation analysis
This market research report segments the global SCM software market by application (SCP, procurement, WMS, and TMS) and geographical regions (APAC, EMEA, and the Americas).
The SCP segment led the market in 2017 with a market share of close to 39%, followed by procurement, WMS, and TMS segments, respectively. However, during the forecast period the TMS segment is predicted to show the highest incremental growth followed by the WMS segment.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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