India SCM Market

India Supply Chain Management (SCM) Market Size Expands at Double-Digit CAGR of 11.1% to Surpass USD 6.43 Billion by 2030

Published | 05 January 2024

India Supply Chain Management (SCM) Market is flourishing because of an increasing adoption of cloud supply chain management, particularly among SMEs, and increasing number of the government’s supportive initiatives.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Supply Chain Management (SCM) Market size at USD 3,421.17 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Supply Chain Management (SCM) Market size to grow at a significant CAGR of 11.1% reaching a value of USD 6,433.24 million by 2030. Major growth drivers for the India Supply Chain Management (SCM) Market include the increasing adoption of technology solutions aimed at streamlining supply chain operations by local companies. This adoption is fueled by the imperative for improved visibility, agility, and cost optimization within supply chain management, addressing the mounting complexity of supply chain networks. Companies across diverse industries are increasingly embracing SCM solutions to achieve real-time tracking and monitoring of goods. Prominent trends in the Indian SCM market include a notable shift towards cloud-based solutions, driven by the desire for scalability, flexibility, and cost-effectiveness, aimed at reducing IT infrastructure costs and enhancing overall supply chain operations. Also, a noteworthy trend involves the integration of artificial intelligence (AI) and machine learning (ML) technologies into SCM solutions to optimize operations, predict demand, identify potential disruptions, and optimize inventory levels. The Indian SCM market exhibits the presence of both local and global players, with local providers offering customized solutions tailored to the specific needs of Indian companies. Amid these trends, macroeconomic factors, including steady economic growth, government initiatives such as 'Make in India' and 'Digital India,' the expanding e-commerce sector, and the growth of the retail industry collectively contribute to the sustained and growing demand for SCM solutions in India. However, growing security and privacy concerns among enterprises and rising cyber threats are anticipated to restrain the overall market growth over the period in analysis.

Opportunity - Digital Transformation

Digital transformation is significantly enhancing the landscape of the India Supply Chain Management (SCM) Market. The industry is witnessing a technological evolution, particularly in the realms of e-commerce, last-mile delivery, and the advent of Industry 4.0. The rise of e-commerce is driving investments in technology and logistics platforms, enabling real-time tracking and fostering digitization for small and medium-sized enterprises. Embracing Industry 4.0, the sector is transitioning traditional factories into smart ones through IoT, artificial intelligence (AI), and machine learning (ML), resulting in heightened automation, cost reduction, and accelerated production cycles. Sustainability gains momentum with the focus on reverse logistics, and the integration of omnichannel retailing bridges the gap between online and offline sales channels. Blockchain technology emerges as a transformative force, providing end-to-end visibility and security in the supply chain. The demand for efficient warehousing and inventory management solutions is rising, incorporating modern practices, such as multi-modal logistics parks, warehouse management systems, and robotics. Additionally, the integration of supply chain networks and globalization further shape and bolster India's position in the global supply chain industry.

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Impact of COVID-19 on India Supply Chain Management (SCM) Market

COVID-19 pandemic had a mixed impact on the India Supply Chain Management (SCM) Market. Countries worldwide implemented lockdowns to curb the spread of SARS-CoV-2. Consequently, the Indian supply chain experienced disruptions, facing shortages in raw materials and struggling to fulfill the demand and supply needs for various goods and products. Despite these initial disruptions, India's logistics sector proved resilient and rebounded. The pandemic prompted a strategic shift, positioning India favorably as a preferred business destination due to its quick adaptability, robust domestic market, and secure investment climate. This potential in global supply chains was reinforced by diverse corporate environments, skilled labor, and favorable legal structures, making India an attractive investment hub. The nation's trajectory towards international supply chain integration hinged on collaborative efforts between the government, local bodies, and businesses. Embracing opportunities and executing a well-planned strategy could propel India into the global supply chain, marking significant progress and growth.

India Supply Chain Management (SCM) Market – By Vertical

Based on vertical, the India Supply Chain Management (SCM) Market is divided into Retail & E-commerce, Healthcare, Automotive, Transportation & Logistics, Food & Beverages, and Manufacturing segments. The manufacturing segment holds the highest share in the India Supply Chain Management (SCM) Market and is expected to maintain its dominance during the forecast period by vertical. It can be attributed to a growing demand for automation within the supply chain processes of the manufacturing industry. The adoption of a reliable SCM system enables manufacturers to enhance their product manufacturing processes and reduce operational expenses effectively. Meanwhile, the retail & e-commerce segment is expected to witness the fastest growth rate during the forecast period. E-commerce SCM streamlines raw material procurement, manufacturing, and timely product distribution. It encompasses supply and demand management, warehouse operations, inventory monitoring, order processing, and final delivery. SCM ensures transparent network oversight, allowing control from procurement to end-user shipment. Effective SCM enhances on-time deliveries, positively impacting customer interactions and reducing manufacturing and distribution costs for increased profitability.

Competitive Landscape

Major players operating in the India Supply Chain Management (SCM) Market include SAP, Oracle, IBM, Kinaxis, and Manhattan Associates. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the India Supply Chain Management (SCM) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Supply Chain Management (SCM) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Supply Chain Management (SCM) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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