Inventory Management Software Market is valued to be over USD 2.8 billion by end of 2025 – ZMR News Blog

Inventory Management Software Market is valued to be over USD 2.8 billion by end of 2025

The report covers forecast and analysis for the inventory management software market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the inventory management software along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the inventory management software market on a global level.

As per the report, the global demand for inventory management software market was valued at approximately USD 1.9 billion in 2018 and is expected to generate revenue of around USD 2.8 billion by end of 2025, growing at a CAGR of around 5.8% between 2019 and 2025.

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Rising demand for solutions that help organizations in cost reduction and optimize their inventory management process is fueling the demand for inventory management. Moreover, the growing demand for smartphones and other consumer electronics has led to the growth of e-commerce. This will drive the demand for inventory management software over the coming years. By offering an omni-channel shopping experience, numerous retailers are focusing on designing a unified experience for their customers. Lack of technical expertise is expected to have an adverse effect on the market. However, digitalization in Asia Pacific region is expected to open new avenues for the market over the forecast period.

The inventory management software market is bifurcated on the basis of system, deployment, organization size, application, end use industry, and region. The application segment is divided into inventory optimization, asset tracking, order management, product differentiation, and service management. The order management segment holds a substantial chunk of the market due to its increasing adoption by numerous organizations for managing orders effectively from different channels. Further, with the growing trend of automation to enhance the overall process and providing tools for order resolution is expected to drive the order management segment over the estimated timespan.

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Based on deployment, the inventory management software is segmented into cloud and on premises. The cloud segment is expected to hold a huge share of the market during the forecast period. This share is attributed to the increasing demand for centralized solutions that can provide ease in access for authorized personnel. Organizations are focusing on expanding their business at a global level. Thus, the demand for cloud-based inventory management software will rise over the coming years.

North America is projected to hold a considerable market share owing to the increasing adoption of e-commerce. Moreover, North America consists of developed economies such as the U.S. that is the hub of various market players such as Microsoft Corporation, Oracle Corporation, and many more. Thus, the market in this region is anticipated to rise over the forecast timespan.

Asia Pacific region is anticipated to grow at a substantial rate owing to the rising demand in countries such as China, India, and South Korea. Government initiative to promote digitalization is considered as a key driver for the market growth. The Indian government is focusing on utilizing technology for simplifying work processes in various industries. Further, increasing usage of smartphones for online shopping is driving the need for inventory management solutions.

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Some of the key players in inventory management software market include Oracle Corporation, Zoho, SAP SE, Microsoft Corporation, Fishbowl, TradeGecko, Brightperal, Ordoro, Stitch Labs, Wasp Barcode Technologies, Acctivate, and Dapulse, among others.

The report segments of global inventory management software market are as follows:

Global Inventory Management Software Market: System Segment Analysis

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

Global Inventory Management Software Market: Deployment Segment Analysis

  • Cloud
  • On Premises

Global Inventory Management Software Market: Organization Size Segment Analysis

  • Small & Medium Sized Enterprises (SMEs)
  • Large Enterprises

Global Inventory Management Software Market: Application Segment Analysis

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

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