The global commodity supply chain management solution market size reached a valuation of USD 2,655 million in 2022. The expanding market value and wide range of applications are projected to be the market's primary growth drivers. In the current year 2023, the net worth of the overall global market is estimated to be around USD 2,955 million.
The overall sales of commodity supply chain management solutions are projected to expand at a notable CAGR of 12.9% between 2023 and 2033. Further, the adoption of commodity supply chain management solutions is poised to rise at this promising growth rate totaling around USD 9,971.9 million by 2033.
The supply chain is an integral ingredient of any product's business, whether tangible or intangible. Product manufacturing becomes complicated if manufacturers do not have an adequate supply chain management system in place for product distribution. Also, the dispersion of tangible products necessitates specialized services that aid in reducing the complexity of marketing.
Commodities are important products in tangible product segments such as metal, grocery, oil and gas, and others that require customized commodity supply chain management because they are expensive compared to other products. Moreover, commodity supply chain management entails a variety of tasks such as sales and manufacturing team integration, procurement management, price risk management, and bulk and non-bulk transportation management.
| Report Attributes or Data Points | Details |
|---|---|
| Global Commodity Supply Chain Management Solution Market Valuation in 2022 | USD 2,655 million |
| Estimated Global Market Share in 2023 | USD 2,955 million |
| Forecasted Global Market Size by 2033 | USD 9,971.9 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 12.9% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 10.8% CAGR |
As per Future Market Insights, the global demand for commodity supply chain management solutions is poised to expand at a healthy CAGR of 12.9% during the forecast period between 2023 and 2033, in comparison to the 10.8% CAGR registered from 2018 to 2022.
Creating a strategic advantage in this environment necessitates positively affected performance accessibility as well as concurrent insights from operational data. Additionally, businesses are increasingly opting for supply chain management solutions as part of end-to-end ERP solutions to improve the efficiency of their processes.
Supply chains in industries such as high-tech and consumer goods have become key drivers of expansion. Also, it is anticipated to have an impact on the revenue growth of the global market.
Vendors of commodities want the autonomy to determine how they purchase items, obtain services, and return goods and services. In this case, the vendor's client satisfaction is high, posing a challenge for the vendor to protect profit margins.
The advancement of technology and consequent rise in tracking the transportation of commodities and services cutting-edge technology is expected to increase the deployment of commodity supply chain management solutions in the Asia Pacific, resulting in high consumption.
Massive infrastructure investments by the government and private enterprises, specifically in India and Indonesia, to ease progression and improve the goal of easing movement and upgrading, are also anticipated to increase demand for CSCM in the Asia Pacific region.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| North America | 31.6% |
| Europe | 28.3% |
North America, as the most technologically superior region, leads the world in terms of the presence of SCM vendors. It is also the world's first adopter of SCM solutions and services. In terms of revenue, the USA tends to dominate the SCM market in North America.
The region's necessity SCM is being fueled by the growing IoT trend and focuses on making supply chain operations such as logistics, warehousing, fulfillment, production, and transportation management more efficient. North America accounted for a market share of nearly 31.6% of the global market in the year 2022.
Globally, internet penetration among businesses is intense, triggering a rise in e-commerce players. This increment is likely to spur online sales, which might propel the expansion of the cloud SCM market in North America as well.
By implementing a cloud-based SCM system, businesses are developing comprehensive strategies to deliver end-to-end business models. Furthermore, COVID-19 caused significant disruptions in supply chains and working conditions, as well as flares in demand for specific items. For example,
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| The United States | 23.4% |
| Germany | 10.6% |
| Japan | 6.5% |
| Australia | 3.4% |
Europe market has a substantial market share as it held a 28.3% market share of the worldwide market back in the year 2022. Europe's market is predicted to continue to grow substantially by 2033, led by the United Kingdom, France, and Germany.
| Regional Markets | CAGR (2023 to 2033) |
|---|---|
| The United Kingdom | 10.5% |
| China | 13.8% |
| India | 17.6% |
Large enterprises influenced the supply chain management market by user type in 2021, and this trend is predicted to continue during the forecast period, owing to increased implementation of SCM software to integrate this software into their existing software and inventories.
The small and medium-sized enterprises segment is projected to expand at a significant CAGR during the forecast period, due to an increase in the adoption of cloud-based SCM software, which provides SMEs with a cost-effective and efficient solution.
| Category | By Component |
|---|---|
| Top Segment | Software |
| Market Share in Percentage | 67.8% |
| Category | By End User Industry |
|---|---|
| Top Segment | Oil & Gas |
| Market Share in Percentage | 32.4% |
How Key Players are Opening Frontiers for Future Growth?
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a large customer base. For instance
Some of the leading commodity supply chain management solution device manufacturers include Triple Point Technology, SAP SE, Oracle Corporation, JDA Software Group, Inc., Genpact, Infor, Manhattan Associates, Inc., Epicor Software Corporation, IBM Corporation, and e2open.
Key commodity supply chain management solution providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global commodity supply chain management solution providers market.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 12.9% from 2023 to 2033 |
| Market Value in 2023 | USD 2,955 million |
| Market Value in 2033 | USD 9,971.9 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Component, Enterprise Size, End User Industry, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | The United States of America, Canada, Germany, The United Kingdom, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Triple Point Technology; SAP SE; Oracle Corporation; JDA Software Group Inc.; Genpact; Manhattan Associates Inc.; Epicor Software Corporation; IBM Corporation; e2open; Infor |
| Customization & Pricing | Available upon Request |
The market is slated to attain USD 2,955 million in 2023.
The market is expected to expand at a CAGR of 12.9% through 2033.
Expanding range of applications and increasing efficiencies in the solution.
North America holds a considerable share in the market.
Triple Point Technology, SAP SE, and Oracle Corporation are leading market players.
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Commodity Supply Chain Management Solution Market
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