According to a new market report, the global smart & mobile supply chain solutions market was valued at $13,614.8 million in 2018 and is expected to reach $31,612.0 million by 2027, expanding at a CAGR 9.9% from 2019 to 2027.
These insights are based on a report on Smart and Mobile Supply Chain Solutions Market by Transparency Market Research.
According to the report, North America was the largest contributor in terms of revenue to the smart & mobile supply chain market in 2018. This expansion is primarily attributed to the rising adoption of smart and mobile supply chain solutions among small & medium enterprises and large enterprises in order to efficiently manage the flow of goods and services.
Increasing demand for industrial automation and growth in e-commerce.
Smart & mobile supply chain solutions are integrated software applications aimed at providing complete business visibility, optimization of inventories, and synchronization of supply with demand & manufacturing.
Currently, competitive economic conditions are compelling industries to increase production in a cost-effective manner. This, in turn, is leading to a rise in the demand for smart & mobile supply chain solutions aimed at optimizing processes and supply chain. Need for quicker turnaround time and efficient utilization of resources is further driving the need for automation in industries. Therefore, increasing demand for industrial automation is a crucial factor boosting the smart & mobile supply chain solutions market across the world.
Furthermore, growth in e-commerce coupled with the need to deliver goods rapidly to gain competitive advantage have boosted the demand for smart & mobile supply chain solutions. Manufacturers are turning from traditional solutions to demand-driven solutions in order to efficiently meet e-commerce and Omni-channel challenges in the smart & mobile supply chain solutions market.
Smart & Mobile Supply Chain Solutions Market: Scope of the Report
The global market for smart & mobile supply chain solutions has been segmented based on solution, enterprise size, industry, and geographic regions. In terms of solution, the market has been classified into Transportation Management Systems (TMS), Warehouse Management Systems (WMS), sourcing & procurement, supply chain planning, and manufacturing execution system.
Based on enterprise size, the market has been divided into small & medium enterprises and large enterprises. In terms of industry, the market has been split into third party logistics (3PL) and commercial. The commercial segment has been further sub-segmented into retail & consumer goods, IT & telecom, manufacturing, BFSI, government, energy & utilities, healthcare, transportation & logistics, and others (food & beverages and aerospace & defense).
Based on region, the global smart & mobile supply chain solutions market has been segregated into North America, Asia Pacific, Europe, South America, and Middle East & Africa. Among these regions, North America accounts for a prominent share, in terms of revenue, of the global smart & mobile supply chain solutions market.
Rapid digitization in the field of supply chain is a major factor boosting the market in the region. However, Asia Pacific and Europe are also projected to hold significant share of the global market during the forecast period. Europe is a prominent market for smart & mobile supply chain management solutions, globally, due to rising awareness about the advantages of smart solutions.
Evolving technologies coupled with significant cost reduction is a major factor driving the smart & mobile supply chain management solutions market in Europe.
Emerging countries such as Brazil, Russia, China, and India are also fueling the demand for the smart & mobile supply chain solutions.
Moreover, a rise in the demand for sourcing and procurement services for supply chain management is also boosting the market across the globe.
Global Smart & Mobile Supply Chain Solutions Market: Competitive Dynamics
Key players operating in the global smart & mobile supply chain solutions market include:
