Latest News- Supply Chain Management (SCM) Software Market: SCP is expected to lead the Application segment during 2025-2029

The Supply Chain Management (SCM) Software Market is being driven by Emergence of supply chain visibility and event management

The Supply Chain Management (SCM) Software Market is expected to grow at a CAGR of 14.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 24867.9 million. In the realm of logistics services, Supply Chain Management (SCM) software plays a pivotal role in organizing, planning, managing, and implementing processes for transportation management, fleet management, order fulfillment, logistics network design, and inventory control. The integration of SCM software is particularly prominent in fleet management, enabling businesses to optimize the utilization of their work vehicles, minimize fuel costs, reduce fleet operating expenses, enhance fleet productivity, and prioritize driver safety. A crucial aspect of implementing a fleet management system involves integrating SCM software to record and analyze data via middleware, thereby maximizing the potential benefits for businesses. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Emergence of supply chain visibility and event management
• Increasing investment in warehouses by e-commerce service providers
• Rise in number of strategic partnerships

However, the market also witnesses some limitations, which are as follows:

• High initial costs and availability of open-source software
• Growing number of malfunctions related to SCM software
• Interoperability issue with SCM software

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Market Scope in Supply Chain Management (SCM) Software Market Research Report

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Research Analysis Overview

The Supply Chain Management (SCM) Software Market is witnessing significant growth due to the increasing demand for transparency in retail and e-commerce sectors. SCM products are integrating industrial-grade digital technology, AI, and machine learning technologies to enhance supply chain strategies and technologies. Robotic process automation, lean inventory, just-in-time replenishment, and demand management solutions are key features. Supply chain transactions, supplier relationships, warehousing, purchasing, logistics, and streamlined supply chain are other areas of focus. Cloud-based SCM solutions offer operational agility, time-to-market efficiency, and data analysis capabilities. Supply chain visibility is crucial for effective purchasing, warehousing, and logistics management. Domestic production and warehousing are also becoming essential aspects of modern SCM.

Market Research Overview

The global IT software market encompasses businesses specializing in the development and production of application software, including enterprise and technical solutions, as well as cloud-based applications. This sector excludes companies producing interactive home entertainment software or system and database management software. According to Technavio, the IT software market size is determined by the consolidated revenue of these entities. In the specific domain of Supply Chain Management (SCM), the market comprises providers of SCM products and solutions, encompassing transparency tools, retail and e-commerce applications, AI technologies, and robotic process automation. These solutions facilitate effective supply chain strategies, lean inventory management, and just-in-time replenishment for large enterprises, IT departments, startups, and SMEs. The transition to cloud-based SCM systems and cloud management platforms further streamlines operations for businesses of all sizes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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