Cloud Supply Chain Management (SCM) Market Will Reach $11 Billion by 2023 and Is Growing at a CAGR of 19.2% During 2018 – 2023

The global cloud supply chain management market is growing at a CAGR of 19.2% during 2018-2023. Surging adoption in transportation management has been one of the major drivers for the cloud SCM market. As the world’s transportation networks and supply chains become increasingly intertwisted and complex, the systems that support them are advancing and improving at a rapid pace. Software vendors have been integrating more transportation optimization capabilities into their solutions, making it easier for shippers to streamline their supply chains, while also making them more cost- and time-efficient. This has been augmenting the growth of the cloud SCM market.
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During the course of our analysis, we found that demand planning and forecasting is projected to witness the highest growth, with 20.3% CAGR during the forecast period, among all solutions in the cloud SCM market. Demand management solutions help to predict and manage replenishment effectively, align price and profit margins, better leverage past product performance and maintain a leaner and more profitable supply chain.

Demand management solutions takes supply chain management to the next level by enabling an automated ecosystem that simultaneously maps demand forecasting against factors like financial predictions, supply restrictions, inventory counts and customer commitments, as well as patterns of behavior that can affect demand at any given time. These benefits of demand management solutions are thus driving the growth of the demand planning & forecasting.

Cloud SCM market has been growing at the highest pace in Asia-Pacific on account of surging industrialization in the region, and the growing adoption of automation among enterprises. Growing e-commerce market coupled with increasing focus on reducing the ownership cost are the other factors driving the cloud SCM market in the region. The regional governments have also been supporting the industrial growth, which is being translated into the growth of cloud SCM market in the region.

Some of the key players in the cloud SCM market include SAP SE, Infor, Inc., Oracle Corporation, The Descartes Systems Group Inc., JDA Software Group Inc., Manhattan Associates Inc., Logility Inc., Kinaxis Inc. and IBM Corporation.