The global Cloud Supply Chain Management (SCM) market was estimated at 4.4 billion in 2020. The market is expected to reach US$ by 2030 by registering a compound annual growth rate (CAGR) of 20% during the forecast period from 2021-2030.
Factors Influencing
The global Cloud Supply Chain Management (SCM) market forecasts to gain traction, owing to the increasing demand for product life-cycle management solutions, logistics management, and inventory & warehouse management.
The primary factor promoting the growth of the global cloud SCM market is the growing adoption of cloud supply chain management (SCM) solutions in the transportation and logistics sector.
Rising awareness regarding the beneficial aspects of these solutions is also boosting its demand among the population. Cloud SCM solutions are highly beneficial in providing excellent transportation planning and execution. Moreover, it is also profitable because of convenient tracking and managing. Thus, the adoption of cloud supply chain management (SCM) is increasing to track transportation activities.
Cloud supply chain management declines the freight cost. Moreover, the platform also helps build collaboration between multiple parties or enterprises involved in the business activities. Thus, such profitable factors are forecast to grow the market growth during the analysis period.
On the contrary, complexities of implementation can further decline the growth of the global cloud SCM market during the forecast period. Apart from that, increasing privacy concerns related to the use of Cloud SCM are expected to slow down the growth of the global cloud supply chain management (SCM) market.
Geographic Analysis
North America is anticipated to have maximum contribution in the growth of the global cloud supply chain management (SCM) market, followed by Asia. North America has been a leading region in the growth of the global market, owing to the growing adoption of communication technologies. Moreover, increasing investments in information and communication technologies would result in further advancements of the platform. Thus, it would increase the growth of the overall market. Apart from that, the United States presents the maximum contribution to the growth of the regional market.
Regarding Asia-Pacific, the region is witnessing favorable innovations in digital technology. Moreover, as the investments in digital transformation and cloud-based technologies are increasing, the market is expected to grow rapidly during the forecast period. In addition, various industry verticals have begun adopting smart ways to manage manufacturing activities. Thus, such growth would positively influence the growth of the global cloud supply chain management (SCM) market during the analysis period.
Covid-19 Impact Analysis
The COVID-19 pandemic negatively impacted the global cloud supply chain management (SCM) market as the transportation activities were all halted. The use of cloud supply chain management (SCM) platforms suddenly declined as the industrial activities were all stopped partially or completely during the pandemic period.
Market Segmentation
By Solution
Cloud Supply Chain Management Market Analysis By Service
By Deployment Model
By Organization Size
By Vertical
By Region
Competitors in the market
