Cloud Supply Chain Management (SCM) Market Offers New Growth in Near Future by Top Key Players — Forecast by 2024
The global cloud supply chain management market is driven by factors such as low initial investment level and increasing high demand from the transportation and logistics sector. Industry players are expanding their product portfolio with a focus on easing the complexities of the supply chain by providing inventory & warehouse management, transportation management, demand planning & forecasting, logistics management, and sales and operations planning among others.
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The cloud SCM market is growing significantly due to factors such as a reduction in supply chain management cost by using these cloud services and solutions and also lower chances of potential failures in the supply chain.
The key services offered by the cloud SCM industry players include support & maintenance, training & consulting and managed services. Support and maintenance services market is predicted to witness the fastest growth at a CAGR of 24.0% during the forecast period.
Among different industries including retail & wholesale, energy & power, transportation & logistics, food & beverage, manufacturing, hospitality, government, and healthcare & life sciences, the Cloud SCM market generated the largest revenue from the energy & power industry as the cloud SCM solutions help enterprises to make supply chain management resilient and efficient.
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Key players operating in the cloud SCM industry are Oracle Corporation, SAP SE, JDA Software Group, Inc., Infor, Inc., Manhattan Associates, Inc., Descartes Systems Group, Inc., Kewill, Inc., TECSYS, Inc., Kinaxis, Inc. and Logility, Inc.
Source: VynZ Research
