The development of cloud technologies has unlocked opportunities in several technologies and business spheres. Traditionally, supply chain management used to be a largely inefficient and ignored department. But that has undergone a complete turnaround in the past few years with the introduction of cloud-based supply chain management (SCM) software. This technological development has enabled users to have direct IT control, utilise real-time tracking, cost-effectiveness, and faster data processing. Modern SCM solutions allow organisations to accurately analyse their supply chains and discover actionable insights such as supplier performance, redundancies, and ways to streamline the supply routes, among others. Several market players are launching advanced cloud based SCM solutions which can aid anyone from SMEs to industry giants. The global SaaS-based SCM market to expected to exhibit sustained growth in such market conditions.

Burgeoning e-Commerce Industry to Sustain Promising Growth Curve

Paced globalisation has significantly increased the outreach of several products and services. Industry entities are having to adopt more sophisticated and efficient supply chain management solutions to keep up with the proliferating demand. Against this backdrop, the global SaaS-based SCM market is expected to exhibit paced growth throughout the forecast period. One of the leading contributors to this market trend is the growth in e-commerce and online shopping industries. This has coerced stakeholders across industries to enhance their supply chains by adopting cloud-based solutions. Industries including food and beverage, manufacturing, and logistics are now investing heavily in supply chain automation. Such developments are poised to bode well for the global SaaS-based SCM Market.

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Notable Benefits such as Enhanced Visibility to Boost Adoption in SaaS-based SCM Market

The recent global pandemic had a significant impact on the supply chains across industries. Notwithstanding, this also emerged as an opportunity for stakeholders to upgrade their supply chain management systems. Previously, users used to suffer from poor visibility and operational inefficiency which resulted in losses and a lack of insights. Modern SaaS-based SCM solutions not only improve visibility across the supply chain. Adopting such solutions also allows the users to discover novel savings opportunities, predict demand patterns, real-time tracking and grade their suppliers to enhance the contract negotiation. Such notable advantages are set to boost the growth prospects of the global SaaS-based SCM market in the forecast period.

North America to Lead SaaS-based SCM Market Owing to Growing IT and Logistics Industries

Flourishing economic activity, the presence of major market players, and the booming IT sector are collectively creating headways for the SaaS-based SCM market in North America. The region’s logistics and supply chain sectors are undergoing paced adoption of automation. Several supply chain and software giants in the region are competing to gain a competitive advantage. The region also has a thriving e-commerce industry which is aiding North America’s status as the leading market region. Meanwhile, Asia Pacific is expected to emerge as the fastest-growing region owing to its sound economic growth and burgeoning IT and logistics industries.

Major Market Entities

The most competitive players in the global SaaS-based SCM market include Accenture, SAP SE, Oracle Corporation, IBM, Manhattan Associates, Inc., Blue Yonder Group, Inc., Infor, The Descartes Systems Group Inc., and HighJump and Kinaxis Inc.

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