MARKET OUTLOOK
According to an analysis by Triton Market Research on the supply chain management software market in Asia-Pacific, the industryis estimated to progress at a CAGR of 10.50% in the projected period 2019-2028.
ASEAN countries, Australia & New Zealand, South Korea, India, China, Japan and Rest of APAC form the Asia-Pacific’s supply chain management software market.
The growing cloud deployment by small- & medium-sized businesses is primarily driving the growth of the supply chain management software market in the Asia-Pacific. The ongoing advancements in the manufacturing and construction sectors are attracting huge investments in the development of SCM software. Also, the increasing spending on the implementation of advanced technologies to expandtheir businesses is another factor driving the growth of the SCM software market in the projected period. The growing demand for transportation management systems in Asia-Pacific is expected to create attractive opportunities for the regional market. The transportation management system is used to minimize the complexity of the network.
In Japan, there is an increased focus on innovation, which is likely to fuel the adoption of the SCM software market. The country is one of the leading IT markets in the Asia-Pacific. The IT market in Japan is considered to be a profitable place to invest. The booming IT software & services are the main drivers of the supply chain management software market in the forecast period.
COMPETITIVE OUTLOOK
The major players in the supply chain management software market are The Descartes Systems Group Inc, SAP SE, Epicor Software Corporation, Blue Yonder Group (JDA Software) and Infor.