INVC NEWS
New Delhi ,
The report titled publication “Europe SaaS based SCM Market Outlook to 2027 – Driven by Acceleration of Supply Chain Digitization, E-Commerce Boost and EU Regulations on Data Storage: Ken Research” provides a comprehensive analysis of the SaaS based SCM Industry in Europe. The report provides the industry size basis revenue and value chain analysis, market segmentations based on solutions, deployment mode and end user industries, competition benchmarking, COVID impact, future projections and expected trends, drivers & challenges. It also provides the market by Revenue of the major countries in the Europe region and also provides the country level analysis based on the segments. It also provides inputs on major opportunities and potential strategies to gain from the market.
Europe SaaS based SCM Market Outlook, Drivers and Challenges
The SaaS based SCM market in Europe is expected to witness strong growth over the next five years, primarily driven by the increasing penetration among end-user industries, stabilizing long-term use among end-users within developed nations and rising adoption among end-users within developing nations.
The ability of the SaaS based SCM solutions in integrating with other latest technologies such as Internet of Things (IoT) and Artificial Intelligence is making many end-user companies switch to the cloud-based system from the traditional on-premise tools. The rapid growth in the adoption of flexible and scalable digital technologies by the end-user companies to effectively manage their supply chains is driving the SaaS based SCM market to grow. Flexibility offered by the solutions providers in terms of clients being able to choose hybrid and pay-as-you go models in deployment modes such as public and private is a key driver for the market.
The skepticism around data security issues in a cloud environment is a challenge to the growth of SaaS based SCM market. The lack of sufficient skilled professionals in the SaaS based SCM is also likely to hamper the growth of the market in Europe.
Impact of Covid-19 on Europe SaaS based SCM Market
The Covid-19 situation resulted in the growth of the overall SaaS based SCM market. The supply chains of several industries faced a lot of challenges due to the pandemic. Rising demand for online services resulted in companies in the end-user industries such as Food & Beverages, Apparel & Fashion Goods, Healthcare & Life Sciences resorting to adoption of automated supply chain systems enabled by SaaS solutions. Eventually the other end-user industries whose supply chains were impacted due to the pandemic are also adopting SaaS based SCM which is driving market growth.
