According to The Insight Partner’ latest market study on “Advanced Planning and Scheduling (APS) Software Market Forecast to 2028 – COVID-19 Impact, and Global Analysis – By Deployment (On-Premise, Cloud), Organization Size (Large Enterprise, Small & Medium Enterprise), and Industry (Manufacturing, Pharmaceutical & Life Sciences, Retail & Consumer Goods, Food & Beverage, Chemicals, Others), Geography, “ the market was valued at US$ 1,491.22 million in 2020 and it is projected to reach US$ 2,941.27 million by 2028; it is expected to grow at a CAGR of 9.0% from 2021 to 2028.
Market Size Value in – US$ 1,491.22 Million in 2020
Market Size Value by – US$ 2,941.27 Million by 2028
Growth rate – CAGR of 9.0% from 2021-2028
Forecast Period – 2021-2028
Base Year – 2021
No. of Pages – 139
No. Tables – 83
No. of Charts & Figures – 82
Historical data available – Yes
Segments covered – Deployment, Organization Size, and Industry, Geography
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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APS Software Market Insights
Rising Need to Enhance Overall Production Process
Rising need to enhance overall production process is driving the APS software market. APS software helps manufacturing firms to control and monitor production and its scheduling. The software solutions benefit the users through full visibility and control, faster turnaround, and optimized resource utilization. Moreover, these solutions help enhance their profit margins by conferring the real-time analysis capabilities into the production process. Capacity planning is an integral part of the APS module. Capacity planning helps in long-term production planning, against forecasted demand. The software has interactive dashboard that provides graphical view of consolidated demand and projected resource allocated for the production process. This data is then to synced to the current and projected sales data. Further, the software also efficiently supports sales and operation planning (S&OP) through optimization and rapid experimentation.
Impact of COVID-19 Pandemic on APS Software Market
North America is a major adopter of new technologies due to favorable government policies to boost innovations, the presence of a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the region’s economic growth negatively. Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak, with 28,468,736 confirmed cases and 515,013 deaths, as per the WHO data on 2020 The US is one of the prominent markets for APS software. Huge increase in the number of confirmed cases and rising reported deaths in the country has affected numerous industries, including manufacturing. The factory and business shutdowns across the US, Canada, and Mexico restrict the adoption of APS software.
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APAC is projected to register an impressive CAGR during 2021–2028. APAC includes various developing economies, such as China, South Korea, India, and several South-eastern countries, along with developed economies such as Japan and Australia. Moreover, APAC is characterized by the presence of the biggest automotive markets such as China, India, and Japan, coupled with the growing adoption of new technology is driving the growth adaptive traffic control system in this region. Meanwhile, government initiatives across Asia-Pacific towards the development of smart cities in India, China, South Korea, Japan, Singapore, and others is among another factor which expected to create enormous opportunities for the adaptive traffic control system market players. Also, South America and Middle East & Africa are also anticipated to experience growth in adaptive traffic control system market owing to government initiatives towards adoption of digital technologies.
With the rising advent in technology, market players are focusing on the development of adaptive traffic control systems and are concentrating on the integration of advanced communication technologies such as artificial intelligence (AI) and analytics. The integration of these technologies boosts the adoption of adaptive traffic control systems. Also, self-driving cars are being largely adopted to efficiently handle the existing issues associated with the traffic and road congestion. Thus, the integration of technology is likely to offer significant improvements in traffic congestions. The current development in traffic control techniques is supporting the expansion of flexible control and adoption of adaptive traffic control systems. For instance, Surtrac offers AI/robotic systems to effectively control intersection traffic. The company’s advanced systems are installed across several cities to ensure the road safety of pedestrians.
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