Allied Market Research recently published a report on Supply Chain Management which estimated the global supply chain management market at $15.85 billion in 2019, and forecasting it will reach $37.41 billion by 2027 with a CAGR of 11.2% from 2020 to 2027.
Improved supply chain visibility, industrial-grade digital technology, and the use of cloud-based supply chain management software are fueling the global supply chain management market. Adding to the growth is the adoption of demand management solutions and the rise in SCM software installations in healthcare and pharmaceutical companies, despite the high cost of implementation and maintenance costs. Security and privacy concerns also restrain growth.
Key players in the industry will respond to increased demand for transportation management system (TMS) software and integration of blockchain technology in SCM software.
The solution segment was nearly two-thirds of the market share in 2019. This dominance will continue through 2027. Large enterprises are anticipated to lead, particularly in North America.
A report sample is available here.