Global Demand Planning Solutions Market Overview
The key driver impacting the demand planning solutions market is the increasing demand from the rapidly expanding e-commerce sector across the globe. For instance, the recent UN's trade and development body (UNCTA- 2020) report reveals that worldwide e-commerce sales are responsible for $25.6 trillion in 2018, which is improved by 8% from 2017. There were about 1.4 billion people who shopped online in 2018. Countries such as the U.S., U.K., and China, lead e-commerce sales to consumers. B2C e-commerce was recorded at $4.4 trillion, rose by 16% from 2017. The rapidly growing e-commerce sector creates the need to forecast the demand for eCommerce inventory; thus, This will help reduce financial risk, inventory expenses and provide customers with products when they want them. Moreover, increasing focus on improving efficiency across the supply chain to improve adoption is estimated to be a significant factor that adds growth to the market.
According to Value Market Research, the global demand planning solutions market size was valued at around USD 2700 million in 2020, million in 2019, and is estimated to grow at a CAGR of about 15.8% during the forecast period of 2020 to 2027.
The advancements in software technology with high adoption of demand planning software and solutions for support & maintenance and integration & consultation are estimated to improve market demand in the forecast period. However, the high cost of demand planning solutions may hamper the global demand planning solutions industry in the long run. Also, security concerns and data privacy issues are negatively impacting the growth of the market. The current industry trends, such as the rapidly expanding retail sector and the high need for maintaining the supply chain effectively, are expected to provide beneficial market opportunities for the market players.
The demand planning solutions market is vast, with many local and global players. The major players follow numerous strategies to enhance their market position, such as acquisitions, mergers, product innovations, expansions, and extending product portfolio, to boost their market share globally. The known players included in the report Alloy Technologies, Inc., Avercast, Aspire Systems, Business Forecast Systems, Inc., Cognizant Technology Solutions Corp, Demantra (Oracle Corporation), John Galt Solutions, Inc., SAP SE, Logility, Inc., RELEX Oy, International Business Machines Corporation, Blue Ridge Solutions Inc., GAINSystems, Inc., GMD, HMRPeasy, NETSTOCK Operations limited, and Syncron AB.
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In this research report, the demand planning solutions market is segmented by component, deployment, enterprise size, end-user industry, and region.
Analysis by Component:
By component, the report is categorized into software/platform, services, professional, integration & consulting, support & maintenance, and managed. The software/Platform system segment dominates the component segment with a 50% market share in 2019. It is due to its extensive usage for various industrial applications such as banking, financial services, & insurance (BFSI), healthcare, automotive, hospitality, food & beverages, and retail & e-commerce. Moreover, growing demand from supply chain industries as demand planning solutions is extremely useful in addressing several problems in a supply chain that contribute to the vast market demand in the forecast period.
Analysis by Deployment:
By deployment, the report is categorized into on-premise and cloud-based. The cloud-based segment dominated the market and accounted for a 30% share of the global revenue in 2019. It is due to the growing adoption of the cloud-based solution by enterprises. Moreover, cloud-based solutions bring innovation to the management of their supply chain provide businesses with forecasting solutions that assist them in preparing for future customer demand contributing to the growth of the cloud-based demand planning solutions segment in the forecast period.
Analysis by Enterprise Size:
By enterprise size, the report is categorized into small & medium enterprises and large enterprises.
Analysis by End-User Industry:
By end-user industry, the report is categorized into BFSI, consumer goods & retail, government, healthcare, IT & telecom, travel & hospitality, and others.
Analysis by Region:
In. the regional outlook of the global demand planning solutions market, the North American region dominates with a maximum market share of 30% in 2019. It is due to the improvements in the SaaS (software as a service) area, the requirement for better customer relationships, and the need for consistent advancements of advanced and enhanced forecasting tools and methods. Also, the existence of well-established economies like Canada and U.S. with huge investment in new technologies by the vendors present in these regions. Moreover, multiple benefits associated with demand planning solutions such as increasing supply chain scheduling, improving the accuracy of product forecast, optimizing labor management, and creating efficient cash flow management contributes to the development of the demand planning solutions market across North America.
Market Segmentation covered in the Report:
By Component
- Software/Platform
- Services
- Professional
- Integration & Consulting
- Support & Maintenance
- Managed
By Deployment
By Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
By End-User Industry
- BFSI
- IT & Telecom
- Healthcare
- Retail & e-Commerce
- Automotive
- Food & Beverages
- Manufacturing
- Hospitality
- Others (Education, Media & Entertainment, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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