Irving, Texas (PRWEB) December 16, 2012
Low penetration of software, a mostly untapped market, and large domestic demand makes India, China, and Indonesia significant potential markets in the global supply chain management (SCM) software industry. The market is expected to reach estimated revenue of US $11.1 billion in 2017 with a CAGR of 6.1% over the next five years (2012-2017)
Lucintel, a leading global management consulting and market research firm, has analyzed the global SCM software market and presents its findings in “Global Supply Chain Management Software Industry Analysis 2012-2017: Industry Trend, Profit, and Forecast Analysis.”
The industry produces software that tracks sales, marketing automation, and customer service and support. It comprises establishments primarily engaged in computer software publishing or publishing and reproduction. The Asia Pacific (APAC) and the Rest of the World (ROW) regions witnessed higher growth rates that North America and Europe during the last five years due to growth in the sectors of banking and financial, hospitality, logistics, real estate, and manufacturing. This growth has driven the demand for SCM software in the Asian and Latin American regions.
The cloud computing model has made penetration of these markets easier as the companies are adopting internet based technologies. Strong economic growth in Asia and Latin American region, as well as growth in the services sector, have driven business enterprises to invest heavily in SCM software to sustain their growth and improve productivity.
As indicated in the study, economic growth and new emerging markets, a growing service sector, cloud computing, and increasing demand from small and medium enterprises are the major drivers for the industry.
This study provides an overview of the global SCM software industry. The industry research report tracks market sizing for four geographic regions of this market sector.
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