IMARC Group’s latest report, titled “SaaS-based SCM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global SaaS-based SCM market is witnessing moderate growth. Software-as-a-Service-based supply chain management (SaaS-based SCM) is the software utilized to manage on-premises and on-cloud supply chain processes. It is used to maintain the inventory record, which aids in increasing productivity while eliminating the duplication of work and standardizing processes. The software provides a faster return on investment with a limited workforce and lowers capital expenses and operating costs. It finds application in sourcing and procurement, order management, demand and operations planning and inventory, and warehouse and transportation management.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global SaaS-based SCM Market Trends:
The SaaS-based SCM market is primarily driven by the growing adoption of automated and pre-programmed machinery across various organizations and manufacturing units. SaaS-based SCM helps store data on servers to prevent the sudden loss of information in case of uncertainties. The software also provides constant monitoring and operational security that minimizes the cost and overall time taken to produce goods and cater services. Besides this, rapid urbanization, increasing digitization, and expanding logistics and transportation industries have escalated the demand for SaaS-based SCM solutions. Moreover, the market players are focusing on improving SaaS-based SCM solutions to ensure competence and effectiveness. They are also integrating SaaS-based SCM platforms with the Internet-of-Things (IoT) and developing hybrid and pay-as-you-go models. On account of these factors, the market value is expected to grow at a CAGR of 16.32% during the forecast period (2021-2026).
Market Summary:
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