The Global Smart and Mobile Supply Chain Solutions Market, By Component (Software (Connected TMS, Connected WMS, Connected Sourcing, and Procurement, Connected SCP, Connected MES, Connected Analytics), Services (Consulting, Management, and Integration), by End-use Application (Retail, IT and Telecommunication, Manufacturing, BFSI, Government, Energy and Utility, Healthcare, Logistics, and Transportation and Others) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Forecast to 2030, is expected to be valued at US$ 80,053.43 million by 2030, exhibiting a CAGR of 17.5% during the forecast period (2022-2030), as highlighted in a report published by Coherent Market Insights.
Smart supply chain solutions help companies to deal effectively with the risk associated with supply chains. It includes asset tracking, level of inventory, the supply of goods against demand forecast, and services. These solutions help organizations achieve their business objectives by providing effective and efficient supply chain services. With advances in technology, supply chain solutions are becoming more interconnected, intelligent, and instrumented. They provide various systems and services such as transportation management, warehouse management, sourcing and procurement, manufacturing execution, analytics, and supply chain planning.
The global smart and mobile supply chain solutions market was valued at US$ 19,076.0 Mn in 2021 and is expected to exhibit a CAGR of 17.5% during the forecast period (2022 – 2030).
Key Developments
- In February 2022, Oracle, a leading software company announced the release of Supplier Rebate Management Platform, an integrated platform featuring Improved and Optimized Cash Flow, Collaboration between suppliers and partners, and relocation of resources, with this new software Oracle is looking forward to maximizing profitability and drive the growth of supply chain solutions market.
Global Smart And Mobile Supply Chain Solution Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. Furthermore, the disruption in the supply chain adversely affected the manufacturing industry. Moreover due to this pandemic manufacturers, were forced to slow down their manufacturing operations till the time this situation is not recovered. In addition, the scarcity of raw materials was a big challenge to this industry.
All such factors contributed to the halt in operations of most of the manufacturing companies. This situation forced the companies to focus on saving their business instead of investing in smart manufacturing of products and solutions
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Key Trends and Analysis of the Global smart and mobile supply chain solutions market:
- The market dynamics of the SCM sector remain very strong with small and mid-sized, and larger companies increasingly having global supply chains and complex offshoring relationships, thereby necessitating SCM adoption. Developments in mobility, cloud-based service, and advanced analytics have lowered the total cost of ownership and opened up new avenues for companies to incorporate SCM, ERP (Enterprise Resource Planning), and other application software into their core operations.
- Asia Pacific is expected to register a robust growth rate in the global cable Smart and mobile supply chain solutions can be offered in terms of the software-as-a-service (SaaS) model. In SaaS, the software is licensed on a subscription basis and is centrally hosted. SaaS model offers various advantages such as reduce time to benefit, lower costs, enhanced scalability & integration, latest upgrades, and easy-to-use and perform. Many companies are offering smart and supply chain solutions in terms of the SaaS model, in order to gain a competitive edge in the market.
- Some of the major players in the global smart and mobile supply chain solutions market are SAP SE, Kewill Systems plc, Oracle Corporation, GT Nexus Inc., JDA Software Group, Inc., Infor Global Solutions, Inc., Manhattan Associates, Inc., Descartes Systems Group, Inc., Epicor Software Corporation, and IBM Corporation.
