Supply Chain Risk Management Software Market Competitive Landscape, Growth Factors, Revenue Analysis to 2026 – IndustryARC

Supply chain risk management software market

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Supply Chain Risk Management Software Market Drivers Government initiatives in supply chain management

HYDERABAD, TELANGANA, INDIA, Nov. 25, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the supply chain risk management software market size will reach $2.7 billion in 2020 and is expected to grow at a CAGR of 9.3% during 2021-2026. The adoption of supply chain risk management software in various industries such as manufacturing, transportation, logistics, pharmaceuticals, and food and beverage sectors leads the market, as this program helps industries provide balance between supply and demand. Supply chain management includes the integrated planning and implementation of processes necessary to improve the flow of materials, information, and financial capital in areas that include demand planning, sourcing, production, inventory and warehousing management, transportation or logistics, and returns for excess or defective products. Adopting this type of supply chain risk management software helps in enhancing business processes in applications such as logistics management and enterprise risk management which helps in reducing supply chain risks. This will drive the supply chain risk management software industry forward. The report provides a complete analysis of the market, its major segments, growth factors, trends, drivers, challengers, key players and more.
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https://www.industryarc.com/Report/19327/supply-chain-risk-management-software-market.html
Main sockets:
1. North America dominated the supply chain risk management software market by value in 2020 due to early adoption of advanced software solutions and increased investments.
2. Adopting cloud deployment mode to implement supply chain risk management software as its increased availability and high scalability are driving the market.
3. Increasing adoption of supply chain risk management software in the transportation and logistics sector for logistics management with increasing government initiatives set to lead the market.
4. Data security issues are one of the major challenges hindering market growth.
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Segmental analysis:
1. Cloud Segment accounted for around 56.9% of the global supply chain risk management software market in 2020. Cloud-based deployment allows industries to stay informed and aware with real-time dashboard alerts. With this deployment, data can be seamlessly synchronized from multiple sources as it provides the ability to connect and share data more easily from within the company.
2. Transportation and logistics is the fastest growing segment of the supply chain risk management software market and is expected to grow at a CAGR of 10.0% over the forecast period 2021-2026. The Government of India is taking important steps to support the logistics sector. In 2019, the Indian Ministry of Commerce and Industry granted funding of $0.011 thousand to the primary infrastructure construction logistics sector.
3. North America dominated the responsible sourcing software market in 2020 with a market share of 36.9%, followed by Europe and Asia Pacific due to early adoption of advanced digital technologies and significant investments in their adoption.
Competitive scene:
Top 5 players in the supply chain risk management software industry are –
1.SAP
2. Oracle
3. IBM
4. AnyLogic
5. SAS Institute Inc
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