SaaS-based SCM Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“Globally, market is predicted to grow at a CAGR of 20.52% in the upcoming years, providing numerous opportunities for market players to invest for research and development in the SaaS-based SCM market.�
The global SaaS-based SCM market is expected to display higher growth rate over the next five years. Rapid surge in the SaaS-based SCM market is credited to development of private, public, and hybrid deployment models of software-as-a-service (SaaS) solution in supply chain management (SCM). Soaring number of connected devices in IoT and increasing need for advanced & real-time analytics are key driving factors for market growth in the past few years. Globally, market is predicted to grow at a CAGR of 20.52% in the upcoming years, providing numerous opportunities for market players to invest for research and development in the SaaSbased SCM market. Shifting trend towards SaaS-based SCM solution by large-scale enterprises is attributed to the recent enhancement and modernization of supply chain planning processes without building new and maintaining complex IT infrastructures. Several large-scale enterprises are adopting demand-based solutions platform available as a software-as-a-service (SaaS) for supply chain management solutions. Software-as-a-service (SaaS)based supply chain management (SCM) solutions offer the full functionality of the on-premises version. Adoption of software-as-a-service (SaaS)-based supply chain management (SCM) solutions helps organization to limit up-front investment for software licenses and implementation. Key factors driving the market include high-end traceability and visibility across supply chain network. Supply chain management assists in maintenance of the inventory levels by fulfilling consumer demands. Supply chain management solutions are focusing on higher manufacturing production, reduction of rework, standardization of industrial processes, and maintenance of inventory levels. Increasing adoption of software-as-a-service (SaaS) supply chain management software offer improved visibility with a cross-functional access. In addition, cloud