Smart and Mobile Supply Chain Solutions Market, By Component (Software (Connected TMS, Connected WMS, Connected Sourcing, and Procurement, Connected SCP, Connected MES, Connected Analytics), Services (Consulting, Management, and Integration), By End-use Application (Retail, IT and Telecommunication, Manufacturing, BFSI, Government, Energy and Utility, Healthcare, Logistics, and Transportation and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Smart and mobile supply chains solutions are the software applications that provide complete business visibility, optimization and synchronization with demand and supply. Smart supply chain solutions help companies to deal effectively with the risk associated with supply chains. It includes asset tracking, level of inventory, the supply of goods against demand forecast, and services. These solutions help organizations achieve their business objectives by providing effective and efficient supply chain services.
The global smart and mobile supply chain solutions market was valued for US$ 19,076.0 Mn in 2021.
Market Dynamics
Increasing demand from emerging markets and globalization is expected to drive market growth over forecast period. Rising globalization has increased the demand for mobile and supply chain solutions. Supply chain solution providers are focused on exploring and using smart and innovative methods to reduce lead time, operating costs, and inventory required to meet varying market needs, due to globalization. Hence, many companies are focused on the development of their solutions, in order to handle the complexities of business and growing uncertainties globally. Moreover, the adoption of smart and mobile supply chain solutions allows companies to expand their global presence. Thus, these factors are expected to drive growth of the global smart and mobile chain solutions.
Increasing demand for dynamic supply chain solutions is expected to drive market growth during the forecast period. Supply chain solutions and business conditions have changed significantly in the recent past. As a result of this, many companies are facing new challenges and issues regarding economic uncertainties to technological changes. Furthermore, urbanization is expected to increase in the near future. According to World Health Organization (WHO), in 2014 the urban population accounted for 54% of the total global population; by 2017, even in less-developed countries, the majority of the population would be living in urban areas. Since the larger part of the population is moving toward urban areas, the dependency on technology is expected to increase as well. As a result of this, supply chain providers have incorporated new technologies in their solutions to meet the surging demand of the population. These factors are expected to drive growth of the global smart and mobile supply chain solutions market during the forecast period.
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