Supply Chain Visibility (SCV) Software Market Size, Share, Growth, and Industry Growth, By Type (Cloud-Based and On-Premises), By Application (SMES and Large Enterprises), Regional Forecast To 2031

Updated On: 22 April 2024

SUPPLY CHAIN VISIBILITY (SCV) SOFTWARE MARKET REPORT OVERVIEW 

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The global supply chain visibility (SCV) software market size expanded rapidly in 2022 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with supply chain visibility (SCV) software experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Supply chain visibility (SCV) software is the ability of components, products, or parts in transit to be tracked by the manufacturers to their final destination. With SCV, the supply chain may be strengthened and improved by making data easily accessible to all parties involved, including the client. The enterprise resource planning (ERP) system frequently includes SCV. The businesses have increased the outsourcing of supply chain planning and have lost some sight and control over it, SCV has recently grown even more crucial.

Supply chain visibility (SCV), made possible by supply chain management technology, resolves these problems by providing real-time logistical data and insights into multiple supply chain components. Data collecting operations used to improve supply chain visibility span a range of activities. 

COVID-19 Impact: Restrictions On Supply Chain Slowed Market Expansion

The pandemic outbreak imposed the government to implement various restrictions on transportation, manufacturing, and supply chains. This results from significant disruptions in their respective supply chains and lockdowns due to various precautionary measures taken by governments around the globe. The same holds true for the market for software for inventory control worldwide. The hindrance in the supply chain became a major factor that impeded the revenue trajectory of the global supply chain visibility (SCV) software market. The global market for supply chain visibility (SCV) software is anticipated to rebound as soon as the relevant governing bodies start to remove these enforced lockdowns.

LATEST TRENDS

"Accelerating Need for Accurate Inventory Management to Foster Market Growth"

The businesses are focused on bridging the gap between online and offline sales. The adoption of supply chain solutions such as inventory management is being sparked by the growing focus of organizations on Omni channel systems to close the gap between online and physical sales. Accurate store inventory is necessary for providing efficient service for daily requests. This has led to many vendors in many different business verticals implementing supply chain visibility (SCV) software in their warehouses, which helps them manage their inventory effectively and keep consumers both online and offline using an Omni channel platform. Thanks to this, customers can now instantly access things from wherever in an organization. The expansion of inventory management solutions is fueled by Omni channel commerce's advantages in terms of improved customer experience, higher sales and traffic, and improved data collecting.

SUPPLY CHAIN VISIBILITY (SCV) SOFTWARE MARKET SEGMENTATION 

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• By Type Analysis

By type, the market is segmented into cloud-based and on-premises.

• By Application Analysis

Based on application, the market is classified into SMEs and large enterprises.

DRIVING FACTORS

"Accelerating Focus On Adoption of Omni channel Systems to Prosper Service Demand"

The main element driving the adoption of supply chain solutions such as supply chain visibility (SCV) software is the growing focus of businesses on Omni channel systems to close the gap between online and offline sales. Due to a rise in the demand for supply chain visibility (SCV) software that can be accessed through many channels, inventory accuracy has become one of the top issues for warehouse owners. To properly fulfill daily requests, store inventory accuracy is essential. As a result, many vendors in numerous industry verticals are using inventory management software in their warehouses, which helps them to effectively manage their inventory and customers both online and offline through an Omni-channel platform.

"Availability of User-Friendly Tracking Tools to Surge the Market Growth"

The key driver of the global supply chain visibility (SCV) software market is the availability of simple and user-friendly inventory tracking tools. Inventory management software tracks levels, orders, sales, and deliveries. Managing, controlling, and tracking inventory applications are widely accessible for iOS and Android devices. Regardless of location or time, the inventory management software makes managing, monitoring, and tracking inventories simple. Large MNC manufacturing facilities frequently operate in remote places and are connected via wireless networks. Manufacturing inventory software provides mobile applications that can support various business processes at any time and from any location using mobile devices.

RESTRAINING FACTORS

"High Investment Cost of the Service to Set Back Market Growth"

The supply chain visibility (SCV) software market growth is expected to be challenged throughout the forecast period due to factors such as high investment costs and consumers' reluctance to embrace legacy systems.

SUPPLY CHAIN VISIBILITY (SCV) SOFTWARE MARKET REGIONAL INSIGHTS 

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"North America to Dominate the Market Due to the Strong Presence of Key Players"

North America is likely to hold the leading part of the supply chain visibility (SCV) software market share owing to the strong presence of key manufacturing companies and retailers in the region. These companies are emphasizing on Omni channel platforms for expanding operational efficiencies. 

Asia Pacific is predicted to show significant growth due to the expanding adoption of smartphones and other devices. Additionally, the rising popularity of e-commerce is elevating regional growth. 

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis On the Development of Advanced Technology"

Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their supply chain visibility (SCV) software market share in the global market. 

List of Market Players Profiled

• Zetes (Belgium)
• IBM (U.S)
• FourKites (U.S)
• IntelliTrans (U.S)
• project44 (U.S)
• Anvyl (U.S)
• NeuroTags (India)
• SAP (Germany)
• Oracle (U.S)
• Infor (U.S)
• Optimiza (Spain)
• Optimity (Canada)
• StockIQ (U.S)
• YooFreight (U.K.)
• BluJay (U.S)
• Kuebix (U.S)
• E2open (U.S)
• Shippeo (France)
• Specright (U.S)
• Fleetx (India)
• Shipsy (India)
• Syncrofy (New York)
• Kinaxis (Canada)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.