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Cloud Supply Chain Management Market Segments: By Solution (Demand Planning & Forecasting, Inventory & Warehouse Management, Product life-Cycle Management, Logistics Management, Sales & Operations Planning, Order Management, Transportation Management, Procurement & Sourcing and Product Master Data Management); By Service (Training & Consulting, Managed Services and Support & Maintenance); By Deployment (Hybrid cloud, Public cloud and Public cloud); By User Type (Large Enterprises and Small & Medium Enterprises); By Industry (Energy & Power, Retail & Wholesale, Food & Beverage, Transportation & Logistics, Manufacturing, Healthcare & life sciences, Hospitality, Government and Others); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Cloud Supply Chain Management Market to surpass USD 45.5 Billion by 2030 from USD 4.01 Billion in 2018 at a CAGR of 22.50% throughout the forecast period, i.e. 2019-30.
Cloud supply chain management is all about managing the supply chain cycle within an organization that is present in flexible locations, with cloud or Internet of Things (IoT) data, analytics, and decision-making all taking place. There is a need for data and computing to be focused on the cloud in this era of complex business and large coverage and globalization of trade and services, i.e. resources are present at a location and can be used when needed. In other words, computing on a wide scale is where utilities are supplied on demand. Worldwide-operating companies have recognized the value of cloud-based technologies for their supply chain operations, thereby growing proficiency and profitability. For a purposeful, optimal, and productive use of time and energy, the future supply chain needs to provide access to all data from various locations at a location ready to be served. Although conventional supply chain management is far more transactional, the cloud-based solution provides real-time precision and 360-degree management control. The five essential advantages of choosing cloud-based supply chain management solutions over localized supply chain management are scalability, performance, cost reduction, integration-capable architecture, and immediacy.
Global Cloud Supply Chain Management Market to surpass USD 45.5 Billion by 2030 from USD 4.01 Billion in 2018 at a CAGR of 22.50% throughout the forecast period, i.e. 2019-30. Factors such as growing awareness about cloud-based SCM benefits among enterprises, reduced operational costs, and improved operational visibility are fueling the growth of the cloud SCM market, across the globe.
Global Cloud Supply Chain Management Market is segmented by solution into demand planning & forecasting, inventory & warehouse management, product life-cycle management, logistics management, sales & operations planning, order management, transportation management, procurement & sourcing, and product master data management. The greater market share in 2019 was accounted for by the demand planning & forecasting solutions segment and is expected to see the highest growth during the forecast period. Almost every company is reliant on the internet in this era of technology, which is a key factor in the expanding market for cloud SCM demand planning and forecasting solutions. The rising number of internet-dependent organizations is accelerating the need for solutions for cloud SCM demand planning and forecasting, as these help organizations relate and assimilate their network processes.
Global Cloud Supply Chain Management Market is segmented by service into training & consulting, managed services, and support & maintenance. Based on service, the support & maintenance division held the largest share in 2019 in terms of revenue. There is a rapid growth in demand for training and consultancy services due to the need for low investment and an increase in demand for skills to enhance the supply chain.
Global Cloud Supply Chain Management Market is segmented by deployment into the hybrid cloud, public cloud, and private cloud. Based on deployment, the hybrid cloud held the largest share in 2019 in terms of revenue. Hybrid cloud was the most favored form of deployment among enterprises, holding more than 50.0% of the SCM cloud market in 2019, while private and public clouds accounted for less than half of the revenue of the market.
Global Cloud Supply Chain Management Market is segmented by industry into Food and Beverage, Healthcare and life sciences, Manufacturing, Retail and wholesale, Transportation and logistics, and Others. As most of the main players are embracing cloud-based technology to transform their supply chains with unparalleled visibility and insights from data, the retail industry is expected to record significant growth. Integrations of technology concentrate on understanding the consumer experience and delivering a substantial change.
Increasing need for demand management solutions among enterprises
Owing to the rise in fragmented networks, increased product variants, and consumer demand for personalized solutions, the global transport network, and supply chains are increasingly becoming complex. In addition, global supply chains require too many transport configurations or modifications and incur secondary costs for companies, which in turn raises the cost of investment. These advantages accelerate the advancement of the cloud-based SCM system in transportation management and will in the future improve the global demand for cloud supply chain management.
Increasing need for demand management solutions
One of the important drivers of this market is the cost viability associated with the use of cloud supply chain management. In addition to offering a superior scope of customization across online markets, it is the best possible management of goods that gives the company a cost-effective role over its rivals. Besides, the adaptability and alignment of different plans including upgraded IT-based arrangements that further help to push this all-inclusive market are also the same. Besides, it is the feasible regulation of information abundance and information-related adaptability that further adds to certain imperative factors that are decisively influencing the overall growth of the market.
Lack of technical expertise
Security concerns include threats associated with the hacked information or the misunderstanding of information that structures a notable concern for the company that uses these administrations. Another real drawback of the usage of these structures will be the dependence on focal access to validate information alongside the hazards found with the entire system being down, which also affects the general sector. In the coming years, the constructive concept of this invention allowing faster conveyance of item data would undoubtedly provide opportunities for this market.
SAP SE
Global Cloud Supply Chain Management Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Cloud Supply Chain Management Market in North America held the largest market share of XX.X% in the year 2019. Significant market growth in North America will be driven primarily by the adoption of GS1 standards aimed at improving the efficiency, security, and visibility of supply chains across physical and digital channels in 25 sectors, the emergence and implementation of cloud-based solutions in almost every industry that have reduced operational costs by improving efficiency and incrustation. Also, the increased adoption of the cloud in the region is presumed to fuel the use of data analytics platforms, which is expected to boost the growth of the market consequently.
In July 2020 - Oracle Corporation introduced a new Oracle Logistics Digital Assistant, an AI-powered virtual assistant for Oracle Cloud Logistics. With this, the customers of the organization and employees can have easy, on-the-go access to order status and shipment tracking without having to navigate through the Oracle Transportation Management (OTM) application or understand complicated data mappings.
In June 2020 - Infor, a leader in business cloud software, collaboration with alliance partner Elvenite to deliver a combination of modern technology and successful, reliable implementations for food producers and the grocery trade in the Nordics based around Infor CloudSuite Food and Beverage. It will help customers in the food industry make smart decisions that strengthen Infor’s competitiveness.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Global Cloud Supply Chain Management Market Segments:
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