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According to our latest market study on “Advanced Planning and Scheduling (APS) Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Deployment (Cloud-Based, On-Premise); Organization Size (Large Enterprises, SMEs); Industry (Manufacturing, Pharmaceuticals & Life Sciences, Retail & Consumer Goods, Food & Beverage, Chemicals, Others)the market was valued at US$ 1,407.74 million in 2019 and is projected to reach US$ 2,941.27 million by 2028; it is expected to grow at a CAGR of 5.7% from 2020 to 2028. APS software generates optimum production schedules, and reduces downtime and errors. It helps manufacturers in allocating raw materials and optimizing production capacities. The software plan and schedules production in terms of available materials, plant capacity, and labor. The software organizes a manufacturer’s sales, purchasing, production, and transportation activities. With the APS software, businesses can calculate demand, evaluate raw material availability, generate production schedules, and enhance production schedules. It gathers historical data on order volumes and inventory turns while combining it with updated forecasts from separate business units to make informed supply chain decisions. Additionally, the software enables companies to plan orders in terms of current production stages and maximizes the throughput to ensure all orders are fulfilled on time.
Advanced Planning and Scheduling (APS) Software Market in APAC to Grow at Highest CAGR during Forecast Period
The growth of the APS software market is tremendous in the APAC region. The growth of the APS software market in the region is attributed to the growth in the retail & consumer goods and manufacturing industries and rising SMEs in various developing countries of APAC. SMEs play an important role in several economies of the region, particularly in developing countries. Moreover, SMEs account for the majority of businesses and is a crucial contributor to the job creation and economic development of the region. As per the SME Finance Forum, in the region, SMEs include ~98% of enterprises, which contribute ~17% to national GDP in the low-income countries such as India, and ~40–50% in the higher income countries such as Singapore and Malaysia. The increasing number of SMEs in the region is promoting the procurement of APS software to manage the complex manufacturing operations; thereby, propelling the market growth.
Key Findings of Study:
Digital transformation is becoming a global trend, especially in the manufacturing sector due to increasing competition in this sector, which compels them to reduce costs and increase profitability. Digitization would help manufacturing companies to track and trace products across value chain, improve quality of work, take preventive and predictive maintenance action, and improve on their key performance indicators (KPIs). Further, the digitalization of various processes enables them to add value to their products. Large manufacturing enterprises, and small and medium manufacturing firms are, therefore, investing heavily in digitalizing their operations. Advanced manufacturing companies are leveraging the capability of artificial intelligence (AI), Internet of Things (IoT), analytics, and business intelligence to improve their overall production performance. They are adopting digital manufacturing strategies to analyze which departments need to be prioritized for bringing digital transformation. The rising trend of digitalization would propel the demand for various advanced software solutions, including APS software, in the coming years.
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