Management Software Market May Touch $24.5bn by 2025
According to a recent report published by Allied Market Research, the global supply chain management software market was valued at $10,850 million in 2016, and is projected to reach at $24,532 million by 2025, growing at a CAGR of 9.7% from 2018 to 2025.
In 2016, the on-premise segment accounted for the highest revenue share of the market.
Advancements in industrial-grade digital technology, increase in inclination towards cloud-based supply chain management software, and rise in need for improved supply chain visibility majorly contribute towards the growth of the market.
However, lack of IT infrastructure in the underdeveloped nations and increase in security & privacy concerns hamper the growth of the supply chain management software market.
The retail segment is expected to witness the highest growth, owing to increase in adoption of SCM software among retailers to gain competitive advantage, due to rise in competition between e-commerce and omnichannel players.
Warehouse management systems segment is also expected to witness high growth, owing to rise in demand for extended warehouse management system to support in-store inventory and order management.
Some of the key market players profiled in the report include SAP, Oracle Corporation, JDA Software Group, Inc., Infor, Manhattan Associates, Epicor Software Corporation, The Descartes Systems Group Inc., HighJump, Kinaxis Inc., and IBM Corporation.
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