Newark, April 16, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global demand planning solutions market will grow from USD 4.65 Billion in 2023 to USD 13.95 Billion by 2033. Demand planning solutions include features for optimizing inventory to balance stock levels with predicted demand to minimize carrying costs while maintaining high service standards. Inventory optimization algorithms evaluate factors such as lead times, supply limitations, cost considerations, and demand forecasts to determine appropriate policies like reorder points, safety stocks, order quantities, and customized replenishment strategies specific to each product or SKU's characteristics and associated supply chain dynamics. Optimizing inventory across the entire network aids organizations in enhancing efficiency by reducing instances of exhausted stocks, resulting in improved customer satisfaction without increasing expenses due to unnecessarily inflated inventories.
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Report Scope and Segmentation -
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 11.6% |
| 2033 Value Projection | USD 13.95 Billion |
| Market Size in 2023 | USD 4.65 Billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | by Deployment Mode, Component, Organization Size |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Demand Planning Solutions Market Growth Drivers | Growing Emphasis on Customer-centricity and Personalized Experiences |
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Key Insight of the Demand Planning Solutions Market
Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia Pacific is expected to grow at the highest CAGR within the global demand planning solutions market. The Asia Pacific region will significantly expand. China is a prominent Asian Pacific market and plays a crucial role in generating substantial revenue for demand planning software. The country's large population, fast-tracking urbanization process, and expanding middle-class segment have increased consumer demands across different product categories. This aspect has obligated firms to invest in advanced demand forecasting solutions that deliver precision-level projections aligned with their needs. Additionally, China's strategic focus on supply chain optimization and digital and e-commerce reforms catalyse greater adoption rates among various industries, such as retail, manufacturing goods production lines, and logistics operations, thus driving significant growth opportunities within this sector.
The cloud-based segment is expected to grow at the highest CAGR during the forecast period.
The deployment mode segment includes cloud-based and on-premises. The cloud-based segment is expected to grow at the highest CAGR during the forecast period. The utilization of cloud-based solutions empowers organizations to have increased scalability and agility. This means they can quickly adjust their use of computing resources and software features in response to changing business needs or market conditions, thus allowing for more efficient alignment between IT resources and costs with the organization's requirements. This flexibility is especially useful for companies experiencing fluctuating demand, such as seasonal peaks or unpredictable growth trajectories. Furthermore, deploying on a cloud-based platform provides greater reliability because service providers offer robust security measures that safeguard against data breaches while implementing necessary disaster recovery options should disruptions occur within its system functionality.
The services segment is expected to grow at the highest CAGR during the forecast period.
The component segment includes services and solutions. The services segment is expected to grow at the highest CAGR during the forecast period. Apart from demand planning solutions, organizations utilize various services to facilitate the implementation, customization and sustained operation of these solutions. Demand planning services encompass various consultation, training, and support offerings provided by software vendors, system integrators, and consulting firms to optimize an organization's demand planning initiatives' assets and influence. These may feature business process analysis, data integration, change management, user training & post-implementation assistance tailored specifically for every organization's needs/requirements, ultimately enhancing customer experience/satisfaction while streamlining processes.
The SMEs segment is expected to grow at the highest CAGR during the forecast period.
The organization size segment includes SMEs and large enterprises. The SMEs segment is expected to grow at the highest CAGR during the forecast period. Demand planning solutions are becoming a popular option for SMEs to tackle critical business obstacles, including maximizing inventory efficiency, improving the precision of demand forecasting and achieving supply chain visibility. These solutions allow small businesses to streamline their forecasting procedures by recognizing customer trends and patterns and conducting data-informed assessments to rationalize stock levels, decreasing shortages while heightening consumer satisfaction. Additionally, such options offer scalability, flexibility and adjustability. This capability facilitates harnessing growth openings, augmenting competitiveness under dynamic trade conditions.
The healthcare segment is expected to grow at the highest CAGR during the forecast period.
The industry segment is bifurcated into automotive, healthcare, IT & telecom, BFSI and others. The healthcare segment is expected to grow at the highest CAGR during the forecast period. Demand planning solutions are gaining momentum in the healthcare industry, an essential vertical driving global adoption. With personalized medicine, value-based care and precision healthcare rapidly emerging as game-changers for better patient outcomes, healthcare organizations face mounting pressure to optimize their supply chains while minimizing expenses. The accurate forecasting of demand becomes crucial against this backdrop -and it is here that demand-planning-solutions become critical tools that aid manufacturers, distributors, and providers in managing stock levels efficiently across medical supplies like pharmaceuticals, equipment, etc., thus helping reduce waste or expiry issues effectively too.
Recent Developments:
• In April 2023: Officeworks declared their collaboration with RELEX Solutions. The former is Australia's largest office product supplier, and the latter offers integrated supply chain and retail planning solutions.
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Market Dynamics
Driver: Shift Towards Streamlined and Efficient Workflow
The demand planning solutions market is on the brink of progress and advancement due to the rising need for organizations to tackle the ever-changing challenges and possibilities in today's global marketplace. Prospective developments entail combining artificial intelligence and machine learning features into forecasting processes, automating tasks, and providing decision support that enhances accuracy. Additionally, merging forces between demand planning and other supply chain factors, such as inventory management, production scheduling, and logistics optimization, will enable corporations to attain augmented visibility proficiency while bolstering resilience across their entire network. This factor is stimulating the market growth and development.
Restraint: Dynamic and Unpredictable Nature of Consumer Behaviour
Demand planning efforts face a significant challenge due to consumer behaviour's ever-changing and unpredictable nature. Organizations encounter difficulties anticipating changes in buying patterns, channel preferences, and consumer tastes as factors such as shifting demographics, emerging trends, evolving lifestyles and competition influence behaviours unpredictably. Traditional demand planning approaches may not capture these complexities effectively, resulting in inventory imbalances or lost sales opportunities caused by forecast errors due to demand volatility that arises from uncertainty in this rapidly changing environment.
Opportunity: Growing Awareness and Adoption of Sustainability Initiatives
Organizations are compelled to embrace demand planning solutions that promote eco-friendly practices and responsible sourcing due to the heightened awareness and adoption of sustainability initiatives. The mounting demands from regulators, consumers and investors demanding a minimal carbon footprint, ethical supply chains, and waste reduction have made organizations need to incorporate sustainability frameworks in their operational processes, especially regarding demand planning. Organizations can assess their environmental impact using these sustainable analytics tools, which enable them to identify opportunities for optimizing resource usage and minimizing resource wastage.
Some of the major players operating in the Demand Planning Solutions Market are:
• Blue Ridge Solutions Inc.
• Cognizant Technology Solutions Corp
• Aspire Systems
• Avercast
• Oracle Corporation
• International Business Machines Corporation
• John Galt Solutions, Inc.
• RELEX Oy
• Logility, Inc.
• SAP SE
• Syncron AB
Key Segments Cover in the Market:
By Component:
• Solutions
• Services
By Deployment Mode:
• Cloud-based
• On-premises
By Organization Size:
• SMEs
• Large Enterprises
By Industry:
• Automotive
• Healthcare
• IT & Telecom
• BFSI
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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