The global demand planning solutions market size is expected to reach $6.8 billion by 2028, rising at a market growth at 10.2% CAGR during the forecast period.
Demand planning is part of the supply chain management process that empowers businesses to customize production, goods, and services by analyzing customer demands. Spreading awareness about the benefits of these solutions, including improved customer satisfaction, decreased inventory costs, reduced excessive storage, minimized wastage, and enhanced efficiency in overall production.
COVID-19 Impact Analysis
Most businesses are adopting new planning processes to handle the COVID-19 requirements effectively. As a result, various enterprises have witnessed sizable growth in utilizing demand forecasting software. Companies’ main focuses are on revamping demand programs, improving and maintaining forecasts, optimizing the supply chain, investigating the need for new products, and creating robust business processes.
When it comes to deployment, the market is fragmented into two sectors, on-premises and cloud-based. The on-premises segment is responsible for the largest market share. But the cloud-based segment is aggressively expanding at a high CAGR during the forecast period. With massively growing online adoption, cloud-based solutions offer applications that supersede the capabilities of on-premises systems.
Demand planning and forecasting in e-commerce and retail help predict future sales using historical data, market trends, and sales cycles. Demand planning software used by businesses can easily automate time-consuming and constantly error-making processes and turns them into a seamless and efficient way to operate end-to-end demand forecasting. This solution also helps e-commerce by offering various advantages, including reduced inventory expenses, a better pricing strategy that reflects demand, and upgraded financial decision-making.
Enterprise Size Insight
As mentioned earlier, the market is divided into small and mid-sized enterprises and large enterprises. Small and mid-sized enterprises have a significant market share. The growing number of these businesses across the globe and their increasing expenditure are looking to raise the market growth over the forecast period.
Who Should Benefit from The Demand Planning Report?
- Anybody directly or indirectly involved in the value chain cycle of this industry needs to be up to speed on the key indicators and recent significant trends in the market for supply chain solutions.
- Agencies and marketers who do their due diligence in choosing demand forecasting software for large organizations.
Avercast’s Demand Planning Software is not just enabling organizations to predict demand accurately. It also empowers them to sense, analyze, plan, and shape demand to manage both long-term and short-term margin and sales performance.