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Global Inventory Management Software Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Oct 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Inventory Management Software Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - 6.62% Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 1.53 Billion
Diagram Market Size (Forecast Year) USD 2.56 Billion
Diagram CAGR 6.62%

Global Inventory Management Software Market, By End-Use (Manufacturing, Medical/Healthcare, Retail, Automotive, Oil & Gas), Organization Size (Large Enterprise, SMEs), Deployment Model (On-Premise, Cloud), Application (Order Management, Asset Tracking, Service Management, Product Differentiation, Inventory Optimization), Type (Manually Managed Inventory System, Barcode Scanning System, Advanced Radio Frequency System (RFID)) – Industry Trends and Forecast to 2029.

Inventory Management Software Market

Inventory Management Software Market Analysis and Size

The expanding e-commerce industry and current technological developments offer enormous potential to global solution providers. Companies provide solutions that can reduce the amount of time spent monitoring and managing a company's assets. One solution, inventory management software, is currently gaining significant traction. This is due to the growing popularity of online shopping and rental services. These industries rely heavily on inventory, so monitoring is critical.

Data Bridge Market Research analyses that the inventory management software market was valued at USD 1.53 billion in 2021 and is expected to reach the value of USD 2.56 billion by 2029, at a CAGR of 6.62% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Inventory Management Software Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

End-Use (Manufacturing, Medical/Healthcare, Retail, Automotive, Oil & Gas), Organization Size (Large Enterprise, SMEs), Deployment Model (On-Premise, Cloud), Application (Order Management, Asset Tracking, Service Management, Product Differentiation, Inventory Optimization), Type (Manually Managed Inventory System, Barcode Scanning System, Advanced Radio Frequency System (RFID))

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Manhattan Associates, (U.S.), Blue Yonder Group, Inc. (U.S.), HighJump (U.S.), Oracle (U.S.), IBM Corporation (U.S.), SAP SE (Germany), ACL Digital (U.S.), VMWare Inc. (U.S.), Telefonaktiebolaget LM Ericsson. (Sweden), Hewlett Packard Enterprise Development LP (U.S.), Softeon (U.S.), Telco Systems (U.S.), NEC Corporation (Japan), Juniper Networks Inc.(U.S.), Infor.  (U.S.), Versa Networks Inc., (U.S.) and Cisco Systems Inc.(U.S.)

Market Opportunities

  • Rapidly growing popularity of e-commerce
  • The growing need to mitigate supply chain inefficiencies
  • The rising demand for RFID technology

Market Definition

Inventory management software is software that is used to track inventory levels, orders, sales, and deliveries. The manufacturing industry can also be used to create a piece order, bill of materials, and other production-related documents. Inventory management software is used by businesses to avoid product overstock and outages. It is a tool for organizing inventory data previously stored in hard copy or spreadsheets. Inventory management solutions provide real-time visibility of supply and demand, allowing users to be aware of inventory updates.

Global Inventory Management Software Market Dynamics

Drivers

  • Growing need for inventory accuracy

The increasing emphasis of businesses on Omni-channel systems to bridge the gap between online and offline sales is driving the adoption of supply chain solutions such as inventory management. To efficiently serve daily orders, store inventory accuracy is essential. As a result, many vendors across various industry verticals are adopting inventory management software in their warehouses, which benefits them in maintaining inventory efficiently and maintaining customers online and offline under the Omni-channel platform. This also allows customers to access goods from any location within an organization quickly. Omni-channel commerce benefits from improved customer experience, increased sales and traffic, and improved data collection, all of which drive the growth of inventory management solutions.

  • Improved product and solution offerings

The global inventory management software market will be highly competitive in the coming years. This is due to the emergence of various players offering solutions integrated with technologies that have the potential to transform the inventory management sector completely. Inventory management software providers are adopting technologies that can support automation as automation gains traction in various business verticals.

Furthermore, established organizations are acquiring a variety of new and small businesses in order to maintain their dominance in the global inventory management software market. This strategy enables businesses to leverage the technology of smaller companies to improve their product portfolio and gain a competitive advantage over competitors. This strategy also allows the organization to strengthen its grip on the global inventory management software market within the time frame projected.

Opportunities

  • Adoption of advanced technologies

The increasingly widespread adoption of smartphones and other mobile devices, the rapidly growing popularity of e-commerce, the growing need to mitigate supply chain inefficiencies, and the rising demand for RFID technology are the major factors driving the inventory management software market, among others.

Restraints

  • Lack of awareness

However, high investment costs and consumer reluctance to adopt legacy systems are among the major factors restraining market growth and will continue to challenge the inventory management software market during the forecast period.

This inventory management software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the inventory management software market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Inventory Management Software Market

Over the last 18 months, most industries around the world have suffered. This is due to significant disruptions in their respective manufacturing and supply-chain operations due to various precautionary lockdowns and other restrictions imposed by governing authorities worldwide. The same applies to the global inventory management software market. Furthermore, consumer demand has subsequently decreased as people are now more focused on eliminating non-essential expenses from their respective budgets as the general economic status of the majority of people has been severely impacted by this outbreak. These aforementioned elements are expected to burden the revenue trajectory of the global inventory management software market over the forecast timeline. However, as respective governing bodies begin to lift these imposed lockdowns, the global inventory management software market is expected to recover.

Global Inventory Management Software Market Scope

The inventory management software market is segmented on the basis of end-use, organization size, deployment model, application and type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type  

  • Manually Managed Inventory System
  • Barcode Scanning System
  • Advanced Radio Frequency System (RFID)

Deployment model

  • Cloud
  • On-premise

Organization size

  • Small and Medium Enterprises(SMEs)
  • Large Enterprises

Applications

  • Order Management
  • Asset Tracking
  • Service Management
  • Product Differentiation
  • Inventory Optimization

End-Use

  • Manufacturing
  • Medical/Healthcare
  • Retail
  • Automotive
  • Oil & Gas

Inventory Management Software Market Regional Analysis/Insights

The inventory management software market is analysed and market size insights and trends are provided by country, end-use, organization size, deployment model, application and type as referenced above.

The countries covered in the inventory management software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

The North America inventory management software market dominates the global market because of the presence of several retailers and manufacturing companies that are focusing on Omni channel platforms to increase operational efficiencies. The platform allowed businesses in the United States and Canada to store third-party inventory. Another factor driving market growth is the increasing popularity of cloud-based solutions, which offer high cost and maintenance savings when compared to traditional inventory management systems.

Asia-Pacific is set to grow with the highest growth rate due to rising demand for RFID technology, increasing widespread adoption of smartphones and other mobile devices, rapidly growing popularity of e-commerce, rising need to mitigate supply chain inefficiencies, and rising demand for RFID technology in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Inventory Management Software Market Share Analysis

The inventory management software market competitive landscape provides details by competitor. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to inventory management software market.

Some of the major players operating in the inventory management software market are:

  • Manhattan Associates, (U.S.)
  • Blue Yonder Group, Inc. (U.S.)
  • HighJump (U.S.)
  • Oracle (U.S.)
  • IBM Corporation (U.S.)
  • SAP SE (Germany)
  • ACL Digital (U.S.)
  • VMWare Inc. (U.S.)
  • Telefonaktiebolaget LM Ericsson (Sweden)
  • Hewlett Packard Enterprise Development LP (U.S.)
  • Softeon (U.S.)
  • Telco Systems (U.S.)
  • NEC Corporation (Japan)
  • Juniper Networks Inc. (U.S.)
  • Infor.  (U.S.)
  • Versa Networks Inc., (U.S.)
  • Cisco Systems Inc.(U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The inventory management software market size will be worth USD 2.56 billion by 2029.
The growth rate of the inventory management software market is 6.62% in the forecast by 2029.
The major companies in the inventory management software market are Manhattan Associates, (U.S.), Blue Yonder Group, Inc. (U.S.), HighJump (U.S.), Oracle (U.S.), IBM Corporation (U.S.), SAP SE (Germany), ACL Digital (U.S.), VMWare Inc. (U.S.), Telefonaktiebolaget LM Ericsson. (Sweden), Hewlett Packard Enterprise Development LP (U.S.), Softeon (U.S.), Telco Systems (U.S.), NEC Corporation (Japan), etc.
End-use, organization size, deployment model, application, and type are the factors on which the inventory management software market research is based.
Growing need for inventory accuracy & improved product and solution offerings are the growth drivers of the inventory management software market.
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