SMART AND MOBILE SUPPLY CHAIN SOLUTIONS MARKET ANALYSIS

Smart And Mobile Supply Chain Solutions Market Size and Trends

Global smart and mobile supply chain solutions market is estimated to be valued at US$ 47.02 Bn in 2024 and is expected to reach US$ 102.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.7% from 2024 to 2031.

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The market is expected to witness significant growth during the forecast period due  to increased adoption of digital technologies across supply chain operations to enhance visibility and optimize processes. Enterprises are increasingly leveraging smart and mobile solutions to gain real-time insights, manage inventory effectively, automate workflows and make demand-driven and informed decisions. Rising adoption of automation, internet of things (IoT), analytics and cloud computing in supply chain management can drive the market growth. Growing e-commerce sales, emphasis on omni-channel distribution and rising need to improve delivery experience compel companies to invest in innovative supply chain solutions for sustained growth and competitive advantage.

Rise of e-commerce and online shopping

Nowadays, consumers adopt online platforms for shopping and purchasing goods of all types. This transition to online channels has put pressure on retailers and supply chain operations to improve logistics and fulfillment capabilities. Traditional brick-and-mortar retailers are investing heavily in developing robust online stores and distribution networks to cater to digital customers. E-commerce companies are witnessing explosive growth and scaling up operations globally.

The expansion of e-commerce has boosted the need for efficient supply chain management across the online retail ecosystem. Features like faster delivery options, convenient return/exchange policies have now become basic customer expectations from digital retailers. This requires streamlining inventory management, order fulfillment, transport and handling of shipments. Moreover, the rise of multichannel retailing means synchronizing the flow of goods across physical and online sales channels. Managing fluctuating consumer demand and product returns poses unique challenges. Several retailers and third-party logistics providers have implemented smart technologies and digital solutions to address these issues. Cloud-based inventory tracking, automated warehouse management, predictive analytics for demand forecasting are being leveraged to optimize processes. Consumers also now demand complete visibility into order status, enhancing the relevance of solutions centered around supply chain visibility and traceability.

Booming e-commerce sector has boosted demand for advanced supply chain solutions that can support seamless fulfillment of online orders. Technologies facilitating improvements in areas like inventory optimization, omnichannel orchestration, real-time shipment monitoring have become imperative aids for retailers seeking to satisfy digitally savvy customers. Expanding digital commerce can boost investments in smarter logistic tools and applications aimed at synchronizing the physical and online operations of companies.

Customer expectations for faster delivery

Rising consumer expectations regarding quicker delivery timelines have put pressure on companies across industries to compress their supply chain cycle times. In the current business environment, speed to market has become a key differentiator for brands looking to gain an edge over competitors. Particularly for product categories with high purchase consideration but low customer loyalty like apparel, consumer electronics and other commoditized goods - being able to deliver items promptly often dictates buying decisions.