Demand Planning Software Market size was valued at USD 8.05 billion in 2023 and is set to cross USD 32.38 billion by 2036, registering more than 11.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of demand planning software is evaluated at USD 8.78 billion. The increasing developments in demand planning software technology, along with the rising need to reduce business costs and maximize profitability, are expected to fuel the progress of this market. Apart from this, the growing incorporation of artificial intelligence and machine learning techniques in demand planning software is expected to contribute towards market growth in the upcoming years. The growth of the market can also be attributed to factors such as the rising competition across different market players and the surge in consumer demand for the product as a result of the increase in disposable incomes. According to the data collected from the European Commission, the global consumer population is projected to reach 5 billion by 2030. Additionally, the expenditure by the middle-class population is evaluated to rise from USD 37 trillion in 2017 to USD 64 trillion by 2030, which would account for one-third of the global GDP growth.
Growth Drivers
Growing Advancements in Demand Planning Software Technology
Rising Need to Reduce Business Costs and Maximize Profitability
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
11.3% |
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Base Year Market Size (2023) |
USD 8.05 billion |
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Forecast Year Market Size (2036) |
USD 32.38 billion |
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Regional Scope |
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The market is segmented on the basis of deployment into on premise and cloud-based, out of which, the cloud-based segment is anticipated to grab the largest share by the end of 2030 on account of the growing adoption of cloud-based solutions by businesses worldwide. In addition, cloud-based demand planning software provides real-time and exact analysis of demand with the elimination of software management costs, which is also projected to contribute to the growth of the segment during the forecast period. Furthermore, based on end-user, the retail segment in the demand planning software market is predicted to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the growing necessity to fast-track product delivery to the consumer while maintaining adequate profitability amidst the constantly changing market conditions.
Our in-depth analysis of the global market includes the following segments:
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Deployment |
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End-User |
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Geographically, the demand planning software market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is set to dominate majority revenue share by 2036, owing to increasing awareness about demand planning software technologies in the countries of the region and rising number of government initiatives to promote digitalization among organizations. Furthermore, the market in North America is evaluated to occupy the largest share in terms of revenue during the forecast period, ascribing to the presence of leading technology providers in the region. Along with this, North America also leads in the early adoption of demand management software technologies, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the market on the back of increasing household expenditure and significant investment in research associated with demand planning software. As per the Eurostat statistics of the European Union, in 2019, the total expenditure incurred by European Union households constituted 52.6% of the GDP.
May 2021: Logility entered into a partnership agreement with Tata Technologies. This will help Tata Technologies for offering digital supply chain solutions to its customers in the manufacturing industry.
June 2020: Western Computer started a partnership with StockIQ Technologies, Inc. This partnership is aimed to prolong the value of technology investments further with increased knowledge, tools, and support.
Author Credits: Abhishek Verma
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