[FURL=https://www.industryarc.com/Report/19327/supply-chain-risk-management-software-market.html]Supply Chain Risk Management Software Market[/FURL] size was valued at $2.64 billion in 2019, and it is estimated to grow at around CAGR 9% during 2020-2025. Adoption of supply chain risk management software in various industries such as manufacturing, transportation and logistics, pharmaceuticals, and food & beverages sectors is analyzed drive the market as the software assist industries in providing equilibrium between supply and demand. Apart from this, the software also enhances business processes along with planning the future requirements by using algorithms which provide consumption analysis. Such benefits are set to drive supply chain risk management software adoption during 2020-2025.Key Takeaways
North America dominated the supply chain risk management software market in terms of value in 2019 owing to the early adoption of advanced software solutions and increase in investments.
Adoption of cloud deployment mode for supply chain risk management software implementation owing to its increased availability, high scalability drives the market.
Increasing adoption of supply chain risk management software in transport and logistics sector with increasing government initiatives is set to drive the market.
Data security issues is one of the major challenges to impede market growth during 2020-2025.
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Supply Chain Risk Management Software Market Segment Analysis - By Geography
North America dominated the Responsible Sourcing Software market in 2019 with a share in excess of 36%, followed by Europe and APAC owing to the early adoption of advanced digital technologies and high investments in adopting those. The presence of large number of manufacturing plants and big retail chains is also analyzed to drive the adoption of supply chain risk management software in the U.S. In 2018, The Federal Energy Regulatory Commission (FERC) of U.S., has approved new mandatory reliability standards for protection of transportation and logistics equipment and to strengthen supply chain risk management in manufacturing industries. Stringent regulations in manufacturing industries is set to drive the market in this region during 2020-2025
Supply Chain Risk Management Software Market Drivers
Government initiatives in supply chain management
Integration of advanced technologies
Market Landscape: Supply Chain Risk Management Software top 10 companies include SAP, Oracle, IBM, The AnyLogic Company, SAS Institute Inc, ServiceNow, RSA Security LLC, Thomson Reuters, Lockpath Inc, LogicManager Inc, and others.
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