According to the report, the global smart and mobile supply chain solutions market will exhibit an exponential CAGR of 29.1% over 2014 to 2022, rising to a revenue opportunity of US$2,730.6 mn by 2022. Of the key end-use sectors utilizing smart and mobile supply chain solutions, the retail and manufacturing sectors are presently the key consumers, accounting for a large share of revenue of the global market. Geographically, the market in North America tops in terms of revenue contribution to the global market and continues to be a formidable force owing to it being home to some of the leading companies operating in the field of smart and mobile supply chain solutions.
One of the key factors working well for the overall development of the global smart and mobile supply chain market are the rising awareness regarding the vast benefits of advanced supply chain solution in effectively dealing with risks associated with supply chains, such as asset tracking, dynamic inventories, and supply against demand forecast. Rich business data gathered with the help of smart and mobile supply chain solutions allow retailers and product manufacturers to gain deeper understanding regarding customer behavior, demand forecasting, and changing consumer preference. As supply chain solutions become more intelligent, interconnected, and instrumented due to the integration of digital and technologically advanced device in supply chains, the use of smart and mobile supply chain solutions has become a necessity to deal with the rising complexity.
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The market is also benefitting from the rapid pace of globalization of industries in a number of emerging economies across regions such as Asia Pacific and Middle East. Strong growth of economies in countries such as China, India, and Japan, coupled with an increased focus on the modernization of the retail sector are also working well for the global smart and mobile supply chain solutions market. However, the market could be hindered due to the low availability or adoption of integration solutions and the volatile nature of supply chain entities’ costs.
This analysis of the global smart and mobile supply chain solutions market is based on a recent market research report by Transparency Market Research, titled “Smart and Mobile Supply Chain Solutions Market (By Component Type – Software and Services; By End-use Application – Retail, IT and Telecommunication, Manufacturing, BFSI, Government, Energy and Utility, Healthcare, Logistics and Transportation, and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014–2020.