Supply Chain Management Market to Witness Strong Growth by 2030
The industry leaders are expanding and strengthening their presence in the region, leading to supply chain management market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, November 10, 2022 /EINPresswire.com/ — An upsurge in demand for transportation management systems (TMS) software and integration of blockchain technology in SCM software is expected to present major opportunities for supply chain management market expansion in the near future.
The growth of the global supply chain management market is driven by the development of industrial-grade digital technology, the surge in the need for improved supply chain visibility, and an increase in inclination toward cloud-based supply chain management software.
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Moreover, the surge in the need for demand management solutions among enterprises and the increase in adoption of SCM software in healthcare and pharmaceutical companies further boosts the growth of the market.
According to the report published by Allied Market Research, the global supply chain finance market generated $6 billion in 2021, and is projected to reach $13.4 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape.
The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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COVID-19 Scenario:
• The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global supply chain finance market, owing to surge in remote working activities creating the daunting task of capturing data from many locations and sources for the supply chain finance firms.
• The COVID-19 pandemic substantially enhanced the demand for new technologies including electronic invoicing, artificial intelligence, smartphone and mobile internet access, and blockchain in business transactions, which propelled the growth of the global market.
The report offers a detailed segmentation of the global supply chain finance market based on offering, provider, application, end user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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Based on offering, the export and import bills segment held the major market share in 2021, holding nearly two-fifths of the global supply chain finance market share, and is expected to maintain its leadership status during the forecast period. However, the shipping guarantees segment, is expected to cite the fastest CAGR of 13.1% during the forecast period.
Based on end user, the large enterprises segment held the major market share in 2021, contributing to nearly two-thirds of the global supply chain finance market share, and is expected to maintain its leadership position during the forecast period. However, the small and medium-sized enterprises segment, is expected to cite the fastest CAGR of 11.2% during the forecast period.
On the basis of provider, the banks segment held the largest market share in 2021, accounting for nearly 90% of the global supply chain finance market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the trade finance house segment, is expected to cite the highest CAGR of 14.2% during the forecast period.
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In terms of application, the domestic segment held the major market share in 2021, contributing to nearly fourth-fifths of the global supply chain finance market share, and is expected to maintain its leadership position during the forecast period. However, the international segment, is expected to cite the fastest CAGR of 11.6% during the forecast period.
Region-wise, the Asia-Pacific region held the major market share in 2021, holding over two-fifths of the global supply chain finance market share and is expected to maintain its leadership status during the forecast period. Moreover, the same segment is expected to cite the fastest CAGR of 11.5% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.
The key players analyzed in the global supply chain finance market report include Asian Development Bank, BNP Paribas Group, Bank of America Corporation, Citigroup, Inc., Eulers Herms (Allianz Trade), HSBC Group, JPMorgan Chase & Co., Mitsubishi UFJ Financial Group, Inc., Royal Bank of Scotland plc, and Standard Chartered plc.
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