Supply Chain Risk Management Software Market Research Report: By Industry Vertical (Manufacturing and Production, Retail and Consumer Goods, Healthcare and Life Sciences, Logistics and Transportation, Energy and Utilities, Financial Services, Government and Public Sector, Technology and Telecommunications), By Deployment Type (On-Premise, Cloud-Based, Hybrid), By Functionality (Risk Identification and Assessment, Vendor Management and Performance Monitoring, Supply Chain Mapping and Visualization, Scenario Planning and Simulation, Crisis Ma

Supply Chain Risk Management Software Market Overview

As per MRFR analysis, the Supply Chain Risk Management Software Market Size was estimated at 3.75 (USD Billion) in 2022.The Supply Chain Risk Management Software Market Industry is expected to grow from 4.55(USD Billion) in 2023 to 25.88 (USD Billion) by 2032. The Supply Chain Risk Management Software Market CAGR (growth rate) is expected to be around 21.31% during the forecast period (2024 - 2032).

Key Supply Chain Risk Management Software Market Trends Highlighted

Supply Chain Risk Management (SCRM) software is vital for organizations to manage risks effectively and enhance supply chain resilience. Key market drivers include growing supply chain complexity, economic uncertainty, and increased regulatory compliance requirements.

Opportunities lie in the adoption of advanced technologies such as AI and machine learning for predictive risk assessment and mitigation. Additionally, the integration of SCRM software with other enterprise systems is driving growth. Trends include the rise of cloud-based solutions, mobile applications, and real-time data analytics.
Organizations are seeking comprehensive SCRM solutions that provide visibility across the entire supply chain, enable proactive risk management, and support collaboration with suppliers and partners. The market is expected to witness significant growth as businesses prioritize supply chain resilience and efficiency in the face of evolving risks and challenges.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Supply Chain Risk Management Software Market Drivers

Increasing Supply Chain Complexity

The enhancement of the supply chains’ complexity is one of the key drivers of the Supply Chain Risk Management Software Market Industry. Since businesses operate in several or many countries across a wide region and are likely to have connections with suppliers and business partners, it becomes harder to deliver the product without any risks, and more issues and disruptions may occur. Supply chain risk management software helps businesses identify, assess, and eliminate risks, successfully allowing businesses to avoid problems in the supply chain.

In addition, these software solutions provide real-time access to information on all processes and production sites, which allows businesses to quickly address the arising problem and prevent its growth. Among other factors that increase the demand for this service are an increasing number of just-in-time and lean manufacturing – both imply a more constant modernizing and improvement of the supply chain to ensure that the right amount of products will be delivered in time.

Rising Geopolitical Risks

The growing geopolitical risks around the world are another key driver of the Supply Chain Risk Management Software Market Industry. Tensions between countries, trade disputes, and political instability can all lead to disruptions in supply chains. Supply chain risk management software helps businesses to assess the geopolitical risks associated with their suppliers and operations and to develop contingency plans to mitigate these risks. These solutions provide real-time alerts and notifications of potential disruptions, enabling businesses to respond quickly and adjust their supply chains accordingly.

Increasing Regulatory Compliance Requirements

The increasing regulatory compliance requirements related to supply chain management are also driving the growth of the Supply Chain Risk Management Software Market Industry. Governments around the world are implementing new regulations to ensure the safety and security of products and supply chains. These regulations require businesses to have robust supply chain risk management practices in place. Supply chain risk management software helps businesses comply with these regulations by providing tools to track and manage supplier compliance, conduct risk assessments, and develop contingency plans.

Supply Chain Risk Management Software Market Segment Insights

Supply Chain Risk Management Software Market Industry Vertical Insights

The major Supply Chain Risk Management Software Market Industry Verticals include Manufacturing and Production, Retail and Consumer Goods, Healthcare and Life Sciences, Logistics and Transportation, Energy and Utilities, Financial Services, Government and Public Sector, and Technology and Telecommunications. The Manufacturing and Production industry vertical held the largest share in 2023 in terms of revenue, with an approximate market value of 1.23 billion USD. The growth is due to the high degree of complexity and the nature of manufacturing and production supply chains that increase the need for supply chain risk management software to avoid disruptions.

The Retail and Consumer Goods segment is expected to experience rapid and significant growth over the forecasted period, as the demand for the software is driven by the growing need by retailers for real-time. The Healthcare and Life Sciences segment is also expected to experience a significant degree of growth, as disruptions in supply chains for the industry can have drastic effects. The Logistics and Transportation segment is also a critical part of the supply of goods. The use of supply chain risk management software is expected to continue to grow over time due to the desire to efficiently manage the movement of goods and avoid disruptions.

The other industry vertical, including Energy and Utilities, Financial Services, Government and Public Sector, Technology, and Telecommunications, are expected to also contribute to the growth of the Supply Chain Risk Management Software Market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Supply Chain Risk Management Software Market Deployment Type Insights

The deployment type segment of the Supply Chain Risk Management Software Market is divided into on-premise, cloud-based, and hybrid. Considering the overall market share, the cloud-based segment is expected to hold the largest share in 2023. This is because all types of businesses, small, medium, or large, are adopting cloud-based solutions. This type of deployment ensures business data is securely stored in data centers, as well as for the implementation of scalability, flexibility, and other such capabilities. It is also cost-effective.

The on-premise segment will attain a steady growth rate over the forecast period. In this type, the software is deployed on the businesses’ servers, and adequate licensing is required. Hybrid deployment is expected to grow in the upcoming years. Businesses are witnessing a rise in hybrid deployments owing to its benefits over both on-premise and cloud deployment. The Supply Chain Risk Management Software Market is projected to exhibit robust growth over the coming years.

Supply Chain Risk Management Software Market Functionality Insights

The Supply Chain Risk Management Software Market revenue is expected to grow significantly in the coming years. The market is segmented by functionality, and each segment offers unique insights into the industry. The Risk Identification and Assessment segment is crucial as it helps businesses identify and evaluate potential risks in their supply chain. This segment is expected to witness substantial growth due to the increasing need for organizations to mitigate risks and ensure business continuity. Vendor Management and Performance Monitoring allows businesses to track and assess the performance of their suppliers.

This segment is expected to gain traction as organizations seek to optimize their supply chains and reduce risks associated with supplier performance. Supply Chain Mapping and Visualization provide businesses with a visual representation of their supply chain, enabling them to identify potential vulnerabilities and inefficiencies. This segment is expected to grow as organizations adopt advanced technologies to enhance supply chain visibility. Scenario Planning and Simulation enable businesses to test different scenarios and make informed decisions in the face of disruptions.

This segment is expected to see increased adoption as organizations seek to build resilient supply chains. Crisis Management and Response Planning help businesses prepare for and respond to disruptions effectively. This segment is expected to grow as organizations prioritize business continuity and minimize the impact of disruptions. Data Analytics and Reporting provide businesses with valuable insights into their supply chain performance and risk exposure. This segment is expected to witness significant growth due to the increasing adoption of data analytics in various industries.

Supply Chain Risk Management Software Market Organization Size Insights

The Supply Chain Risk Management Software Market segmentation by Organization Size can be divided into Large Enterprises, Small and Medium-Sized Enterprises (SMEs), and Startups. Large Enterprises are expected to dominate the market with a revenue share of around 60% in 2024, owing to their increased focus on risk management and compliance. SMEs are expected to witness a significant growth rate during the forecast period due to the rising awareness about supply chain risks and the need for cost-effective solutions. Startups are also expected to contribute to market growth as they introduce innovative solutions and cater to specific industry needs.

Supply Chain Risk Management Software Market Regional Insights

Segmenting the Supply Chain Risk Management Software Market by geography, the market is studied across major regions such as North America, Europe, APAC, South America, and MEA. Among these, North America is expected to dominate the market with a significant revenue share in 2024. The high adoption of advanced technologies, stringent regulations, and a high concentration of key industry players contribute to the regional dominance. Europe is expected to follow North America in terms of market share, driven by factors such as stringent data protection regulations and rising awareness about supply chain risks.

APAC is projected to exhibit the fastest growth rate over the forecast period, attributed to the region's rapidly growing economies, increasing globalization, and growing manufacturing sector. South America and MEA are expected to witness steady growth due to increasing investments in infrastructure and supply chain modernization initiatives.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Supply Chain Risk Management Software Market Key Players and Competitive Insights

The Supply Chain Risk Management Software Market industry is highly fragmented, with several major players and numerous smaller companies competing for market share. Some of the leading players in the market include SAP SE, Oracle Corporation, JDA Software Group, Inc., IBM Corporation, and LLamasoft, Inc. These companies offer a wide range of supply chain risk management software solutions that cater to the needs of businesses of all sizes and industries.

One notable leader in the Supply Chain Risk Management Software Market is SAP SE. The company offers a comprehensive suite of supply chain management software solutions, including its SAP Ariba Supply Chain Risk Management solution. This solution helps businesses identify, assess, and mitigate risks in their supply chains, allowing them to improve their resilience and agility. SAP SE has a strong presence and a large customer base, which has contributed to its success in the market.

Another leading player in the Supply Chain Risk Management Software Market is Oracle Corporation. The company offers a range of supply chain management software solutions, including its Oracle Supply Chain Risk Management (SCRM) solution. This solution helps businesses manage risks in their supply chains by providing them with visibility into their supply chain networks, as well as tools for identifying, assessing, and mitigating risks. Oracle Corporation has a strong reputation for innovation and a commitment to customer satisfaction, which has helped it gain a significant share of the market.

Key Companies in the Supply Chain Risk Management Software Market Include:

• 
  

  Amber Road.

  
  


• 
  

  Kinaxis.

  
  


• 
  

  Oracle.

  
  


• 
  

  JDA Software.

  
  


• 
  

  o9 Solutions, Inc.

  
  


• 
  

  Resilinc.

  
  


• 
  

  Everstream Analytics.

  
  


• 
  

  LLamasoft.

  
  


• 
  

  Infor.

  
  


• 
  

  FourKites.

  
  


• 
  

  SAP.

  
  


• 
  

  Prevedere.

  
  


• 
  

  IBM.

  
  


• 
  

  GT Nexus.

  
  


• 
  

  riskmethods.

  
  

Supply Chain Risk Management Software Market Industry Developments

The supply chain risk management software market is anticipated to exhibit a robust growth trajectory, with a CAGR of approximately 21.31% over the forecast period of 2024-2032. This growth is attributed to the increasing adoption of digital technologies, rising concerns over supply chain disruptions, and growing emphasis on risk mitigation strategies. Recent news developments include the acquisition of risk methods by Resilience360 and the launch of new solutions by vendors such as IBM and SAP. These developments highlight the evolving landscape of the market and the growing demand for comprehensive supply chain risk management solutions.

Supply Chain Risk Management Software Market Segmentation Insights

1. 
   

   Supply Chain Risk Management Software Market Industry Vertical Outlook

   
   
   
   
   1. 
      

      Manufacturing and Production

      
      
   
   
   2. 
      

      Retail and Consumer Goods

      
      
   
   
   3. 
      

      Healthcare and Life Sciences

      
      
   
   
   4. 
      

      Logistics and Transportation

      
      
   
   
   5. 
      

      Energy and Utilities

      
      
   
   
   6. 
      

      Financial Services

      
      
   
   
   7. 
      

      Government and Public Sector

      
      
   
   
   8. 
      

      Technology and Telecommunications

      
      
   
   
   
   

2. 
   

   Supply Chain Risk Management Software Market Deployment Type Outlook

   
   
   
   
   1. 
      

      On-Premise

      
      
   
   
   2. 
      

      Cloud-Based

      
      
   
   
   3. 
      

      Hybrid

      
      
   
   
   
   

3. 
   

   Supply Chain Risk Management Software Market Functionality Outlook

   
   
   
   
   1. 
      

      Risk Identification and Assessment

      
      
   
   
   2. 
      

      Vendor Management and Performance Monitoring

      
      
   
   
   3. 
      

      Supply Chain Mapping and Visualization

      
      
   
   
   4. 
      

      Scenario Planning and Simulation

      
      
   
   
   5. 
      

      Crisis Management and Response Planning

      
      
   
   
   6. 
      

      Data Analytics and Reporting

      
      
   
   
   
   

4. 
   

   Supply Chain Risk Management Software Market Organization Size Outlook

   
   
   
   
   1. 
      

      Large Enterprises

      
      
   
   
   2. 
      

      Small and Medium-Sized Enterprises (SMEs)

      
      
   
   
   3. 
      

      Startups

      
      
   
   
   
   

5. 
   

   Supply Chain Risk Management Software Market Regional Outlook

   
   
   
   
   1. 
      

      North America

      
      
   
   
   2. 
      

      Europe

      
      
   
   
   3. 
      

      South America

      
      
   
   
   4. 
      

      Asia Pacific

      
      
   
   
   5. 
      

      Middle East and Africa