Supply chain management software market 2022-2026 | Europe will account for 34% of the market’s growth – Technavio

NEW YORK, Nov. 2, 2023 /PRNewswire/ — According to Technavio, the global supply chain management software market size is estimated to grow by USD 13.96 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 11.65%. Moreover, the growth momentum will accelerate. Based on geography, the global supply chain management software market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global supply chain management software market. Europe will account for 34% of the market’s growth during the forecast period. Germany and the UK are the key countries for the supply chain management software market in the region. However, market growth in this region will be slower than the growth of the market in APAC. Factors such as advanced and improved logistics infrastructure will drive the supply chain management software market growth in Europe during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. To know more, buy the report!

Global supply chain management software market – Five forces
The global supply chain management software is fragmented, and the five forces analysis covers– 

Bargaining power of buyers The threat of new entrantsThreat of rivalryBargaining power of suppliersThreat of substitutesFor interpretation of Porter’s five forces model – Request a sample report

Global supply chain management software market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global supply chain management software market – Segmentation assessment

Segment overview
Technavio has segmented the market based on application (SCP, procurement, WMS, and TMS) and deployment (on-premise and cloud-based). 

The SCP segment will account for a significant share of the market’s growth during the forecast period. SCP includes processes such as sales and operations planning, demand planning, demand sensing, strategic supply network designing, and long-term and strategic planning. In this integrated business management process, the software helps the executive and leadership teams to continuously synchronize all functions. Such factors will fuel the market growth during the forecast period.

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Global supply chain management software market – Market dynamics
Key factor driving market growth

The emergence of supply chain visibility and event management is driving the supply chain management software market growth.Supply chain visibility and event management (SCVEM) software is an integral part of SCM software. SCVEM modules control, measure, simulate, notify, and monitor all business processes in accordance with supply chain activity.Many organizations exchange information with an extended network of supply chain partners that are willing to upgrade their technology through electronic data interchange (EDI), which requires SCVEM software.These factors will fuel the growth of the market during the forecast period.

Leading trends influencing the market 

The growing demand for fleet management in the logistics service industry is a key trend in the market.Some of the applications of SCM software in logistic services include organizing, planning, managing, and implementing processes for inbound and outbound transportation management, fleet management, order fulfillment, logistics network design, and inventory control.Fleet management helps businesses use their work vehicles to improve efficiency and cost optimization.End-users of logistics services use fleet management solutions to achieve supply chain optimization.Thus, the growing demand for fleet management in logistics services is expected to support the growth of the market during the forecast period

Major challenges hindering market growth

The high initial cost and availability of open-source software will challenge the supply chain management software market during the forecast period.These costs can be attributed to the cost of software licensing, installation, maintenance, hardware, customization, and training.Moreover, SCM solutions should be upgraded periodically to keep up with the current market trends and technologies such as big data and blockchain, which increases the implementation and maintenance costs.Moreover, the availability of open-source software solutions such as Odoo, OpenBoxes, xTuple, OpenLMIS, and Sellsy also poses a challenge to vendors.This, in turn, will impede the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this supply chain management software market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the supply chain management software market between 2022 and 2026Precise estimation of the size of the supply chain management software market and its contribution to the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the supply chain management software market across North America, Europe, APAC, Middle East and Africa, and South AmericaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of supply chain management software market vendors

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Table of contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio