The market for global supply chain management software is expected to experience an 8.95 percent compound annual growth rate from 2011 to 2015, according to a forecast analysis from TechNavio.
In addition, Gartner reported in May 2012 that the worldwide supply chain management (SCM) software market totaled $7.7 billion last year. This was a more than 12 percent increase from 2010 levels, and it shows that the global market for SCM software has increased by double digit percentages every year from 2009 to 2011.
"Despite ongoing economic uncertainty, the market for supply chain applications showed itself to be pretty resilient in 2011 with most SCM providers continuing to expand their footprints," Chad Eschinger, research vice president at Gartner, said in a statement. "North America and Western Europe continued to be the prime consumers of SCM software in terms of dollars spent, with nearly 79 percent of market revenue."
One of the main aspects contributing to the industry's expected growth worldwide is the need by a variety of businesses to boost productivity. While this will help lead the software's growth, the TechNavio report said that market consolidation and implementation costs may deflate demand over the next three years.
The offerings helping to boost the industry as a whole included cloud-based and niche service providers, according to Gartner.