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Supply Chain Management Software - South Korea

South Korea

In 2024, the projected revenue for the Supply Chain Management Software market in South Korea is estimated to reach €250.60m.
Looking ahead, the market is expected to experience an annual growth rate of 3.95% (CAGR 2024-2029), resulting in a market volume of €304.10m by 2029.
Moreover, the average Spend per Employee in the Supply Chain Management Software market is projected to reach €8.38 in 2024.
In a global perspective, it is worth noting that United States is expected to generate the most revenue in the Supply Chain Management Software market, with a projected revenue of €10,000.00m in 2024.
South Korea is embracing advanced supply chain management software to optimize logistics and enhance efficiency in its rapidly growing e-commerce industry.

Key regions: Netherlands, Germany, Australia, Canada, France

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Analyst Opinion

The South Korean market has been showing a growing interest in Supply Chain Management Software.

Customer preferences: South Korean companies are increasingly looking for ways to streamline their supply chain management processes. They are looking for software that can help them optimize their inventory, reduce lead times, and improve their overall efficiency. Many companies are also looking for software that can help them manage their logistics operations more effectively, including transportation management and warehouse management.

Trends in the market: One of the key trends in the South Korean Supply Chain Management Software market is the growing demand for cloud-based solutions. Cloud-based software is becoming increasingly popular because it offers greater flexibility and scalability, as well as lower upfront costs. Another trend is the increasing adoption of artificial intelligence and machine learning technologies, which can help companies automate many of their supply chain management processes and make more informed decisions.

Local special circumstances: South Korea is home to a number of large manufacturing companies, including Samsung, LG, and Hyundai. These companies have complex supply chains that span multiple countries and involve many different suppliers and logistics providers. As a result, there is a growing need for software that can help these companies manage their supply chains more effectively.

Underlying macroeconomic factors: South Korea has a highly developed economy and is one of the most technologically advanced countries in the world. The country has a highly skilled workforce and a strong focus on innovation, which has helped to drive the development of the Supply Chain Management Software market. Additionally, South Korea has a strong logistics infrastructure, including modern ports and airports, which makes it an attractive location for companies looking to establish regional distribution hubs.

Methodology

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.