Brooklyn, New York, Feb. 29, 2024 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the global supply chain IT transformation in retail and CPG market is expected to grow at a CAGR of 24.5% from 2024 to 2029.
Retail and CPG companies are allocating significant financial resources to implement digital transformation strategies in their supply chains. This involves the adoption of advanced technologies, software solutions, and IT infrastructure to streamline and optimize various aspects of the supply chain, propelling the growth of the market.
Key Market Trends
- Advantages of Digitization: Digitizing the supply chain leads to efficiency gains, streamlined processes, reduced manual interventions, and delays. It enhances transparency by providing real-time visibility, enabling stakeholders to monitor goods and information movement. These improvements contribute to sustainable business growth over time.
- Technological Advancements: Machine Learning (ML) and Artificial Intelligence (AI) are two key technologies in supply chain management. ML algorithms analyze data to identify patterns, optimize routing, and make predictive decisions, while AI applications automate tasks and provide data-driven insights for strategic planning. Natural Language Processing (NLP) enhances communication and collaboration within the supply chain.
- Growth in E-commerce: The rapid growth of e-commerce has driven retailers and CPG companies to enhance their supply chain capabilities to meet the demands of online shoppers. This includes optimizing inventory management, order fulfillment, and last-mile delivery through IT solutions.
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Key Market Insights
- As per the deployment type outlook, the cloud-based segment is expected to be the largest segment during the forecast period
- As per the end-user outlook, the retailers segment is projected to be the largest segment during the forecast period
- North America region is analyzed to account for largest share of the global market during the forecast period from 2024 to 2029
- Asia Pacific region is anticipated to be the fastest-growing region over the forecast period
- Key players operating in the global supply chain IT transformation in retail and CPG market include SAP SE, IBM Corp., Alphabet Inc., Oracle Corp., Alibaba Group Holding Ltd., Accenture Plc, Capgemini, Honeywell International, Flipkart Inc, and Amazon.com Inc., among others
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Supply Chain IT Transformation in Retail and CPG Market - Forecast to 2029’’
By Deployment Type (Revenue, USD Billion, 2024-2029)
- On-premise
- Cloud-based
By End User (Revenue, USD Billion, 2024-2029)
- Retailers
- CPG Companies
By Technology Type (Revenue, USD Billion, 2024-2029)
- Enterprise Resource Planning (ERP) Systems
- Warehouse Management Systems (WMS)
- Inventory Management Systems
- Demand Planning and Forecasting Software
- Order Management Systems
- Transportation Management Systems (TMS)
- Blockchain and Distributed Ledger Technology
By Regional Outlook (Revenue, USD Billion, 2024-2029)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central and South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
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