Demand Planning Software Market Size, Share, Growth, and Industry Analysis by Type (Cloud-based & On-premise), By Application (Large Enterprises & SEMs), Regional Insights, and Forecast from 2023 to 2031

Updated On: 20 November 2023

Demand Planning Software Market REPORT OVERVIEW

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The global demand planning software market size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.

Software for businesses called demand planning aids in forecasting future demand for goods and services. It can be used to manage marketing campaigns as well as manufacturing and inventory levels. To build a complete version of the demand plan, the program also takes into account user inputs like the influence of marketing promotions, new product developments, launches and discontinuations, rebates and market data, and pricing discounts. Increased speed, improved accuracy, efficiency, cost savings, adaptability, and scalability are a few of the main advantages.

Due to the faster data processing speed and flexibility to support numerous users, the demand planning software market is expanding quickly among businesses. Due to its user-friendly facilities, Microsoft Excel was previously used for demand planning, budgeting, and accounting. Nevertheless, Microsoft Excel is inconsistent and not intended for multiuser collaborative work. As a result, many major and small & medium firms (SMEs) are switching to the industry solution provided by demand planning software.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

The COVID-19 outbreak caused problems for manufacturers of services materials, including unstable markets, a drop in customer confidence, and difficulties with import and export commerce. The sourcing of raw materials, packaging, and distribution are all parts of the global supply chain. Due to lockdowns, moving commodities, labels, and other items has become difficult. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for services. The pandemic altered the dynamics of the industry, compelling organizations to redesign every aspect of their operational frameworks in order to preserve stability amidst the disturbances. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall services industry. This has partially impacted the demand planning software market. 

LATEST TRENDS

"Supply Chain Management to Boost the Market Growth"

Supply chain management is the main trend that is driving the industry. Enterprise analytics systems are being adopted by businesses to improve the effectiveness of the supply chain management procedure. By examining historical data and manufacturing capabilities, demand planning software assists in understanding the shifting market demands and challenges with the distribution network. By examining consumer demands, demand forecasting, a step in the supply chain management process, helps a company to tailor its output, whether of goods or services. The market is expanding as a result of rising consumer awareness of the advantages provided by these solutions, such as enhanced customer experience, decreased inventory costs, unnecessary storage expenses, and improved production efficiency. Additionally, these systems include forecasting employing clustering algorithms, ML (Machine Learning) technology, statistical and mathematical functions, and automated data forecasting methodologies. Therefore, during the anticipated period, these trends are anticipated to fuel market expansion. Thus, during the forecast period, the aforementioned factors are anticipated to fuel market growth. The global market will benefit from these factors. Thus, a key trend that is opening up potential for the industry to grow is supply chain management. These new developments are mostly to blame for the market's overall growth.

Demand Planning Software Market SEGMENTATION

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• By Types 

Based on type, the market is Cloud-based & On-premise.

• By Application

Based on the market is categorized into Large Enterprises & SEMs.

DRIVING FACTORS

"Customer Demands that Gives the Market Extra Boost"

Constantly shifting client wants, preferences, and expectations are among the key factors promoting the growth of demand planning software. This has caused a significant shift away from conventional demand planning systems and towards solutions provided by the demand planning software sector. These systems support accurate demand forecasting from customers. This facilitates improved inventory and production planning for businesses, particularly retailers. The solutions also aid in enhancing forecasting, financial planning, and sales coordination. It contributes to better in-stock availability of all-season ready goods, better understanding of variance in demand, less stock wastage, coherent and seamless relationships across all tiers of the supply chain, and increased planner productivity throughout the whole supply chain. These factors grow the market and increase revenue. As a result, the growth, and the increasing customer demands will boost the industry. It will contribute to the expansion of the services industry and it will improve the demand planning software market growth.

"Reduce Production & Slow Delivery to Encourage Market Expansion"

Reduced output and delayed deliveries are two more factors boosting the market. Due to technology innovation and the widespread use of the services worldwide, demand planning solutions have emerged as one of the most important elements of supply chain management. With the aid of forecasting, businesses can address needs based on market developments, industry trends, and the supply of goods that are likely to fuel the expansion of demand planning software. Additionally, as more companies across numerous industrial sectors place an emphasis on efficiency, synchronization, cost reduction, and forecasting, the market for demand planning solutions is growing. Also, a larger number of businesses consistently work to reduce production and delivery delays as well as the management of stock surpluses. Over the course of the forecast period, the market is anticipated to grow as a result of all these advanced features. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, above mentioned factors will help the market to boost.

RESTRAINING FACTORS

"Lack of Scalability to Impede Market Expansion"

Lack of scalability is the issue of limiting market expansion. Spreadsheets cannot monitor an overgrowing business's growth. Consumers would need a lot of time, tolerance, and harsh access restrictions, as well as a dramatic increase in sales orders, to manually reconstruct demand planning and forecasting criteria every time a basic notion change. This obstacle prevents the market from growing. This factor is impeding market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

Demand Planning Software Market REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for demand planning software is in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the demand planning software market share is the increasing demand of product in various categories from large enterprises & SEMs is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

•  Logility (U.S.)
•  Oracle (U.S.)
•  Infor (U.S.)
•  SAP America (U.S.)
•  Demand Management (U.S.)

REPORT COVERAGE

The segmentation of the market by type and application is covered in great length in the study. The study investigates a broad spectrum of players, including existing and potential market leaders. Several significant variables are expected to lead to a sizable market expansion. The report also examines factors that may increase the market share of demand planning software in order to provide market insights. The report gives predictions for market growth during the anticipated time frame. Explaining why one region dominates the global market is the goal of the regional research. The industry cannot expand due to a number of factors that have all been properly considered. A strategic study of the market is also included in the research. It contains comprehensive market data.