According to a new market report published by Transparency Market Research , the global smart & mobile supply chain solutions market was valued at US$ 13,614.8 Mn in 2018 and is expected to reach US$ 31,612.0 Mn by 2027, expanding at a CAGR 9.9% from 2019 to 2027. According to the report, North America was the largest contributor in terms of revenue to the smart & mobile supply chain market in 2018. This expansion is primarily attributed to the rising adoption of smart and mobile supply chain solutions among small & medium enterprises and large enterprises in order to efficiently manage the flow of goods and services.
Smart & mobile supply chain solutions are integrated software applications aimed at providing complete business visibility, optimization of inventories, and synchronization of supply with demand & manufacturing. Currently, competitive economic conditions are compelling industries to increase production in a cost-effective manner. This, in turn, is leading to a rise in the demand for smart & mobile supply chain solutions aimed at optimizing processes and supply chain.
Need for quicker turnaround time and efficient utilization of resources is further driving the need for automation in industries. Therefore, increasing demand for industrial automation is a crucial factor boosting the smart & mobile supply chain solutions market across the world. Furthermore, growth in e-commerce coupled with the need to deliver goods rapidly to gain competitive advantage have boosted the demand for smart & mobile supply chain solutions. Manufacturers are turning from traditional solutions to demand-driven solutions in order to efficiently meet e-commerce and omni-channel challenges in the smart & mobile supply chain solutions market.
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The global market for smart & mobile supply chain solutions has been segmented based on solution, enterprise size, industry, and geographic regions. In terms of solution, the market has been classified into Transportation Management Systems (TMS), Warehouse Management Systems (WMS), sourcing & procurement, supply chain planning, and manufacturing execution system. Based on enterprise size, the market has been divided into small & medium enterprises and large enterprises. In terms of industry, the market has been split into third party logistics (3PL) and commercial. The commercial segment has been further sub-segmented into retail & consumer goods, IT & telecom, manufacturing, BFSI, government, energy & utilities, healthcare, transportation & logistics, and others (food & beverages and aerospace & defense).