Cloud Supply Chain Management (SCM) Market Size, COVID19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1232
Cloud Supply Chain Management Market size will gain substantial proceeds with consistent development in cloud computing technologies to enhance business operations across various verticals. The influx of digitalization has triggered the need for reanalyzing the supply chains as digital supply networks. This will combine the physical flow of products and services while offering cost-savings, safe, and infinitely scalable solutions for easy integration with the existing systems. Hence, large enterprises are making use of the software to quickly collect and access data across the globe from multiple points.
Cloud supply chain management solutions not only closely track a product over its lifecycle, but also report quality in terms of production center and the customer level. The systems understand as well as acknowledge the benefits from vital market trends as they can monitor and trace the assemblies, components, or subassemblies in real-time throughout the supply chain. These factors are likely to push the adoption of cloud SCM apps and platforms during the forecast period.
Transportation is the most common application fueling the cloud SCM market growth due to the robust abilities of the cloud technology to ensure effective interactions between the order management system and warehouse, whilst handling critical operational functions, including the creation of plans as well as strategies and their executions. In addition, the incorporation of cloud computing is assisting all members of the supply chain to retrieve and exchange data with other users, thus limiting the obstructions in sizeable and multi-national warehousing operations, given the diverse time zones and geographical locations.
On the basis of regional landscape, the U.S. is set to be a major shareholder in the market owing to the prominent presence of some of the leading industry players in the region, which offer benefits, like the multiplicity of transport modes in highly connected environments to their clients. The expanding logistics sector in the region has paved way for higher integration of the information flow across the supply chain management software, packaging, warehousing, returned goods management, forwarding, and brokerage. Growing demand for data analytics platforms and the increasing penetration of cloud services across the healthcare sector will further add impetus to the regional growth.
Innovations, partnerships through mergers and acquisitions, development of new products, and portfolio expansions are some inorganic strategies led by major solution providers in the industry to sustain competition while influencing their global presence. Few of the prominent companies include HighJump (Korber AG), Manhattan Associates, TECSYS, Kinaxis, Inc., and CloudLogix.
To state an instance, SAP SE, in October 2020, struck an agreement for the acquisition of Emarsys, a major omnichannel customer engagement platform provider, in order to reinforce its SAP Customer Experience offerings and to allow businesses to effectively and personally engage with their customers.
Likewise, Oracle Corporation, in March 2021, released new updates to its Cloud Supply Chain & Manufacturing offering, Oracle Fusion, which assists in connecting supply networks of shippers with an integrated suite of cloud business applications. This roll-out is likely to help the company’s customers proactively respond to change, orchestrate frictionless operations, eventually bringing sustainable business growth.
Impact of COVID-19 on Cloud SCM Market Trends
The worldwide economic turbulence caused by the COVID-19 pandemic led to a host of industrial growth barriers on account of the regulation of the severe lockdown policies. It also gave way to the abrupt shutting down of numerous public entities, including the technology and service-based companies. The initial days of the pandemic drew a significant disruption to the global supply chains of the cloud solutions, laying adverse effects on the market.
Effective measures are gradually being undertaken by industry participants to highlight the critical importance of transforming and re-platforming the evolving supply chain systems.
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