Cloudy, with the chance of $11B market value.

Recent research from P&S Market Research has projected that the market value of SCM cloud-based services will surpass $11 billion, by 2023.

To meet increasing stakeholder demands on supply chain visibility, many companies are relying on cloud-based integrations to enhance their transportation activities. By applying technological advancements to logistic activities, companies are streamlining deliveries and keeping their customers visibility at an all-time high. All the while, increased transparency of supply chain transportation provides more cost-efficient and time-efficient logistics.

But, it’s not just actual logistical activities that are reaping the benefits of innovative supply chain cloud-based solutions. Supply chain strategy might be the area most susceptible to the scaling impact of the cloud.

“During the course of the analysis, P&S found that demand planning and forecasting is projected to witness the highest growth, with 20.3% CAGR during the forecast period, among all solutions in the cloud SCM market.”

The race to digital adoption, and the move to the cloud, is becoming a competitive one. Not only amongst global supply chains, but software vendors too. The new status quo is innovation, and organizations looking to implement cloud-based solutions have a buffet waiting before them.

While there is a plethora of solutions on the market, there are multiple solutions that have niched themselves - focusing on a particular area of the value chain or vertical – rather than trying to eat the whole pie in one bite.

The digital transformation of SCM is underway, but is a long way off from its pinnacle. 

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