Cloud-based Supply Chain Management Market Analysis, Challenges, Growth and Forecast By 2030

The Cloud technology market is estimated to reach USD 39.8 billion by 2030 . The growth of the market is attributed to the increased demand for cloud-based SCM solutions from enterprises and the growing need for cost-effective and efficient SCM solutions. Additionally, the growing acceptance of cloud-based SCM solutions among small and medium-sized enterprises (SMEs) is also likely to drive market growth in the coming years.

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Overview:

Cloud technology has been around for almost 20 years now, but supply chain professionals are still reluctant to adopt cloud and migrate their systems. Though the industry is in its initial stages, cloud computing will help supply chain managers to closely track a product throughout its lifecycle. Cloud-based SCM will significantly cut down the product cost as it will locate the shipment during any stage of the transportation. With the changing supply chain environment, cloud computing will become an advantageous process, gaining more market traction over the traditional systems. While the traditional SCM is more transactional, the cloud approach offers a 360-degree control and real-time monitoring. Cloud-based SCM offers scalability, reliability, cost-effective, integrated design, and immediacy over localized SCM model.

Market Analysis:

The SCM market is mature, however, the emergence of cloud computing has changed the industry landscape and has improved customer experience.The incorporation of cloud into SCM creates myriad benefits that redefine the traditional supply chain networks, offers better supply chain visibility, helps in handling the surging data volumes and in integrating digital technologies. Moreover, the need for improved business agility, scalability, faster deployment, and reduction in TOC will drive the organizations to deploy cloud model of SCM.

Product Analysis:

The market study of cloud-based SCM will talk about the types that include supply chain planning, procurement, manufacturing execution system, warehouse management system, and transportation management system. The procurement software market will grow due to investments from large enterprises in procurement applications and from SMEs in cloud-based procurement software. The pressing need to consolidate and improve purchasing power will drive the market toward cloud-based software. The manufacturing execution system will have the highest growth rate with rise in automation, faster ROI, stringent government regulations, reduced lead times, reduction in production cost, and better operational excellence.

Regional Analysis:

North America is estimated to have the largest market share in 2023 and is expected to maintain the same till 2030. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the growing awareness about cloud-based SCM among enterprises, especially SMEs. Factors such as rising need for infrastructure management system and shifting of workload to a cloud model will increase the market revenue.

Key Players:

SAP, Oracle, JDA Software, Epicor, Manhattan Associates, Descartes Systems Group, HighJump Software, IBM, and Kewill Systems.

Competitive Analysis:

The study covers and analyzes the “Cloud-based Supply Chain Management (SCM) Software” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists and other companies in understanding the companies better and take informed decisions.