Outlook on the Cloud Supply Chain Management Global Market to 2026

DUBLIN, Nov. 4, 2021 /PRNewswire/ — The “Cloud Supply Chain Management Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.

The cloud supply chain management market is evaluated at US$14.307 billion for the year 2019 and is projected to grow at a CAGR of 13.81% to reach a market size of US$35.395 billion by the year 2026.

The growth of the cloud supply chain management market is majorly attributed to the continuous shifting of business processes towards the cloud as enterprises continue to increase their focus on agility while adopting solutions that can increase their profit margins by streamlining the business processes. The increasing focus of enterprises towards ensuring business continuity is anticipated to push them towards cloud-based supply chain management solutions which aid in mitigating potential risks associated with the supply chain, which is boosting the growth of the market.

Solid growth of the market is anticipated over the projected period as e-commerce continues to show rapid growth across all major regions around the globe. Growing competition across industries is fueling the adoption of advanced cloud supply chain management solutions among enterprises as they seek to remain ahead of their competitors, which is further projected to boost the growth of the market.

The recent outbreak of the novel coronavirus disease had a positive impact on the cloud supply chain management market. As the lockdowns and strict COVID-19 measures led to the shutting down of factories for various end-use industries of the market such as manufacturing, retail, automotive, among others, the market growth for the cloud supply chain management market also declined initially. However, as the supply chains were disrupted due to COVID-19, increased adoption of cloud supply chain management was witnessed after the initial few months as the companies took a lesson from the first wave and started building their supply chains more robust.

Rising use of cloud supply chain management in logistics and transportation management

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Various companies are increasingly replacing their traditional logistics and transportation management with cloud technology which is one of the major factors anticipated to drive the growth of the cloud supply chain management market during the forecast period. The supply chain has become extremely complex today and hence companies are adopting cloud supply chain management in logistics and transportation management as it provides a high level of visibility into the supply chain.

Furthermore, it reduces costs and improves efficiency along with providing greater oversight to help avoid consumer shortages. Owing to these advantages, a large number of companies are moving to cloud technology for managing their logistics and transportation. For instance, in July 2021, E2open announced to be working with Tesco PLC, a UK-based multinational grocery and general…