The Global Demand Planning Solutions Market size is expected to reach $6.8 billion by 2028, rising at a market growth of 10.2% CAGR during the forecast period.
Demand planning is software that delivers companies with forecast solutions that assist organizations in fulfilling and get prepared for future consumer requirements. The organization’s businesses use demand planning technologies to foresee and address forthcoming inventory and production. With the help of demand planning solutions, organizations can maintain the proper quantity and re-stock the inventory when required.
Predictive analysis is a very crucial element that is utilized in supply chain management solutions. Moreover, these tools combine machine learning to improve forecasts by reviewing previous old information data. Organization use demand planning tools to manage and handle their future inventories and production.
With the help of this solution, the organization serves its consumers by predicting long-term requirements. Demand planning systems commonly use predictive analysis in their supply chain management strategies. However, businesses aim to reduce production and delays in delivery as well as handle all the inventory surpluses, which propels the demand for these solutions has increased constantly.
Moreover, the cost and the promotional analysis solution leverage machine learning algorithms and price flexibility, exemplary for developing promotion-based forecasts. Promotion and pricing analysis will help the organization by providing a logical strategy to enhance and develop the cost of their products and precisely forecast the revenue.
The COVID-19 outbreak naturally had a promising impact on the targeted industry. To effectively anticipate the post-COVID-19 requirements, most companies are executing new planning processes. As a result, various companies have witnessed considerable growth in utilizing demand forecasting tools. The organizations' main preferences are revamping demand programs, maintaining and improving forecasts, re-optimizing the supply chain, indicating the need for new products, and developing robust business processes. In addition, to provide complete rescue from COVID-19, firms must anticipate and sufficiently understand their supply networks. As a result, companies from diverse industries leverage these solutions, driving the market's growth.
Demand planning solutions have become one of the crucial components of the supply chain management, due to technological advancement through which many people across the world are leveraging the services. With the help of forecasting the companies can address needs based on the industry's trends, developing market landscape, as well as the delivery of the products that tend to propel the growth of the demand planning solution. Additionally, a more significant number of companies constantly aim to decrease production and delivery postponed along with the administration of the stock surpluses.
Various demand planning solutions have merged the market due to the predictive analysis landscape's consistent outcomes over the past few years. Furthermore, demand planning solutions are expanding as more businesses in various industrial sectors emphasize efficiency, synchronization, cost reduction, and forecasting. In addition, demand planning tools are essential for enriching communication and enabling data flow throughout the supply chain.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
A spreadsheet can't track down the growth of a business if overgrowing. To reconstruct demand planning and forecasting standards manually every time a fundamental concept changes, consumers would mandate much time, tolerance, and severe access constraints, including a sharp growth in sales orders. Although establishing a rapid-growing business ecosystem requires focus, and time on analysis, avoiding manual upkeep of the demand forecasting model.
Based on the Component, the Demand Planning Solutions Market is segmented into solutions and Services. The solution segment acquired the highest revenue share in the demand planning solutions market in 2021. It is because demand sensing is a forecasting approach that utilizes real-time data capture and artificial intelligence to estimate demands required on the actual existence of the supply chain.
Based on the Deployment Type, the Demand Planning Solutions Market is bifurcated into On-premises and Cloud-based. The cloud segment registered a prominent revenue share in the demand planning solutions market in 2021. It is due to the growing adoption of the internet and the cloud-based system delivery application that expanded the abilities of on-premise systems. Moreover, flexibility and speed are the most crucial component of any planning system. The cloud-based solution is expected to be more economical than other systems.
On the basis of Organization size, the Demand Planning Solutions Market is classified into Small and Medium Sized Enterprises (SMEs) and Large Enterprises. The large enterprise segment acquired the largest revenue share in the demand planning solutions market in 2021. It is because most large enterprise utilizes on-premise software to protect data and enhance operational productivity. Demand planning produces a large amount, along with revenue growth, which increases the adoption of demand planning software.
By Vertical, the Demand Planning Solutions Market is fragmented into categorized into BFSI, IT & Telecom, Healthcare, Retail & E-commerce, Automotive, Food & Beverages, Manufacturing, and Others. The healthcare & life sciences segment recorded a considerable revenue share in the demand planning solutions market in 2021. It is because the healthcare authorities in the healthcare supply chain will require parties to comprehend how healthcare systems are beginning to adopt cutting-edge techniques in commercial demand planning to enhance the efficiency of their supply chains.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.5 Billion |
| Market size forecast in 2028 | USD 6.8 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 10.2% from 2022 to 2028 |
| Number of Pages | 335 |
| Number of Tables | 562 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Deployment Mode, Organization Size, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the Demand Planning Solutions Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region garnered the largest revenue share in the demand planning solution market in 2021. It is due to the availability of the massive tech companies providing organization demand planning solutions, such as Blue Ridge Solutions, IBM, and Demantra, linked with the well-known and various solution adaptors that are propelling the market's growth.
Free Valuable Insights: Global Demand Planning Solutions Market size to reach USD 6.8 Billion by 2028
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation, IBM Corporation, SAP SE are the forerunners in the Demand Planning Solutions Market. Companies such as RELEX Oy, NETSTOCK Operations limited, Kinaxis, Inc. are some of the key innovators in Demand Planning Solutions Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cognizant Technology Solutions Corporation, Oracle Corporation, IBM Corporation, American Software, Inc. (Logility, Inc.), SAP SE, Kinaxis, Inc., Aspire Systems Pvt. Ltd., Blue Ridge Solutions, Inc., RELEX Oy, and NETSTOCK Operations limited.
By Component
By Deployment Mode
By Organization Size
By Vertical
By Geography
The global Demand Planning Solutions Market size is expected to reach $6.8 billion by 2028.
Demand For Demand Planning Solutions To Reduce Production And Slow Delivery are driving the market in coming years, however, Lack Of Scalability And Scenario Analysis restraints the growth of the market.
Cognizant Technology Solutions Corporation, Oracle Corporation, IBM Corporation, American Software, Inc. (Logility, Inc.), SAP SE, Kinaxis, Inc., Aspire Systems Pvt. Ltd., Blue Ridge Solutions, Inc., RELEX Oy, and NETSTOCK Operations limited.
The On-premises segment acquired maximum revenue share in the Global Demand Planning Solutions Market by Deployment Mode in 2021 thereby, achieving a market value of $3.5 billion by 2028.
The North America market dominated the Global Demand Planning Solutions Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.5 billion by 2028.
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