The Business Research Company’s SCM Software Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 8, 2021 /EINPresswire.com/ — SCM softwares can manage the complexities of the modern-day supply chain. With businesses going global and increased competition, the supply chains are getting complex. The number of suppliers, orders received/completed, variety of product offerings, information generated etc. all have increased substantially. Through the use of SCM software, the complexity can be reduced along with cost and resource savings. The need for companies to remain relevant in the market amidst the highly competitive conditions is a crucial driver for the growth of the SCM software market.
The global Supply Chain Management software market is expected to grow from $17.51 billion in 2020 to $18.96 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $31.48 billion in 2025 at a CAGR of 13.5%.
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Supply chains are continuously evolving with data at the center of every stage in the value chain. With a huge amount of data generated, there is an enormous challenge in the form of data and IT security risks. Protecting the privacy and still sharing data across the supply chain is a major challenge which could become a roadblock for the SCM software industry. The Target breach was caused by lax security at an HVAC vendor wherein personal information of as many as 70 million people was compromised. The information stolen included customer names, credit or debit card number, the card’s expiration date and CVV number.
The major players covered in the global SCM software market are SAP, Oracle, JDA Software Group, Inc., Infor Global Solutions and, Manhattan Associates.
SCM Software Global Market Report 2021 – By Product (Transportation Management System, Warehouse Management System, Supply Chain Planning, Procurement Software, Manufacturing Execution System), By Industry Vertical (Consumer Goods, Healthcare & Pharmaceuticals, Manufacturing, Food & Beverages, Transportation & Logistics), By User Type (Small & Medium Sized Enterprises (SMEs), Large Enterprises), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides SCM software market overview, forecast SCM software market size and growth for the whole market, SCM software market segments, and geographies, SCM software market trends, SCM software market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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