Inventory Management Software Market Size, Share, Trends, Growth 2032
Inventory Management Software Market By Product (Advanced Radio Frequency System, Barcode Scanning System, and Manually Managed Inventory System), By Deployment (On-Premises and Cloud-Based), By Organization Size (SMEs and Large Enterprises), By Application (Service Management, Asset Tracking, Order Management, Inventory Optimization, and Product Differentiation), and By Vertical (Healthcare, Retail, Automotive, Oil & Gas, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 2.58 Billion | USD 7.69 Billion | 12.9% | 2023 |
Inventory Management Software Market Insights
Zion Market Research has published a report on the global Inventory Management Software Market, estimating its value at USD 2.58 Billion in 2023, with projections indicating that it will reach USD 7.69 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 12.9% over the forecast period 2024-2032.
The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Inventory Management Software Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
Inventory Management Software Market: Growth Factors
The easy and user-friendly inventory tracking facilities is the major factor propelling the inventory management software market worldwide. Inventory management software is used for tracking level, orders, sales, and delivery. Numerous inventory management, control, and tracking applications are available for iOS and Android devices. The inventory management software helps in easily managing, controlling, and tracking inventory, irrespective of location and time. Manufacturing plants of large MNCs are usually connected through wireless networks and operate in remote locations.
Manufacturing inventory software offers mobile applications that can be accessed at any time and from any place through mobile devices to assist various business operations. Inventory tracking is extensively efficient and can easily manage multiple product IDs and descriptions. The in-built feature of unique product IDs and descriptions is a powerful way to distinguish each item.
The globally rising demand for inventory tracking solutions is also driving the inventory management software market. However, the high initial installation cost may hinder the inventory management software market to some extent. The software cost generally depends on the features and the abilities that it offers along with the access to the number of users and products involved. Furthermore, connected devices are among the major upcoming trends in the inventory management software market. The increasing adoption of the Internet of Things (IoT) driven inventory management is anticipated to generate new market opportunities in the upcoming years.
Inventory Management Software Market: Segmentation
The inventory management software market is categorized based on product, deployment, organization size, application, and vertical.
The product segment includes an advanced radio frequency system, manually managed inventory system, and barcode scanning system.
By deployment, the market is categorized into on-premises and cloud-based.
The organization size segment includes SMEs and large enterprises.
By application, the market comprises service management, order management, asset tracking, product differentiation, and inventory optimization. The vertical segment of the inventory management software market includes retail, healthcare, automotive, manufacturing, oil and gas, and others.
Inventory Management Software Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Inventory Management Software Market |
| Market Size in 2023 | USD 2.58 Billion |
| Market Forecast in 2032 | USD 7.69 Billion |
| Growth Rate | CAGR of 12.9% |
| Number of Pages | 201 |
| Key Companies Covered | Oracle, SAP, Microsoft, Zoho, TradeGecko, Fishbowl, Brightperal, Ordoro, Acctivate, Wasp Barcode Technologies, Stitch Labs, Orderhive, Dapulse, Handifox, KCSI, Megaventory, Veeqo, eTurns, Dearinventory, SkuVault, Manhattan Associates, and Sage |
| Segments Covered | By product, By deployment, By organization size, By application, By vertical and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 to 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Inventory Management Software Market: Country Analysis
North America is projected to hold the largest share of the inventory management software market globally in the years ahead, owing to the early adoption of the latest technologies and the strong regional presence of leading market players.
Inventory Management Software Market: Competitive Space
The global inventory management software market profiles key players such as:
- Oracle
- SAP
- Microsoft
- Zoho
- TradeGecko
- Fishbowl
- Brightperal
- Ordoro
- Acctivate
- Wasp Barcode Technologies
- Stitch Labs
- Orderhive
- Dapulse
- Handifox
- KCSI
- Megaventory
- Veeqo
- eTurns
- Dearinventory
- SkuVault
- Manhattan Associates
- Sage
This report segments the global inventory management software market into:
Inventory Management Software Market: Product Analysis
- Advanced Radio Frequency System
- Barcode Scanning System
- Manually Managed Inventory System
Inventory Management Software Market: Deployment Analysis
- On-Premises
- Cloud-Based
Inventory Management Software Market: Organization Size Analysis
- SMEs
- Large Enterprises
Inventory Management Software Market: Application Analysis
- Service Management
- Asset Tracking
- Order Management
- Inventory Optimization
- Product Differentiation
Inventory Management Software Market: Vertical Analysis
- Healthcare
- Retail
- Automotive
- Oil and Gas
- Manufacturing
- Others
Inventory Management Software Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
Table Of Content
Methodology
FrequentlyAsked Questions
Inventory management software is a tool that assists businesses in the monitoring, administration, and optimization of their inventory levels. This software facilitates the management of orders, sales, and deliveries, automates a variety of inventory-related processes, and offers real-time visibility into inventory across multiple locations. It is frequently employed in industries such as retail, manufacturing, and logistics, where inventory control is essential.
The utilization of cloud-based inventory management solutions offers businesses scalable, adaptable, and accessible platforms, thereby diminishing the necessity for costly on-premise systems.
Zion Market Research has published a report on the global Inventory Management Software Market, estimating its value at USD 2.58 Billion in 2023, with projections indicating that it will reach USD 7.69 Billion by 2032.
Zion Market Research has published a report on the global Inventory Management Software Market is expected to expand at a compound annual growth rate (CAGR) of 12.9% over the forecast period 2024-2032.
North America is projected to hold the largest share of the inventory management software market globally in the years ahead, owing to the early adoption of the latest technologies and the strong regional presence of leading market players.
Some globally renowned key players of the inventory management software market are Oracle, SAP, Microsoft, Zoho, TradeGecko, Fishbowl, Brightperal, Ordoro, Acctivate, Wasp Barcode Technologies, Stitch Labs, Orderhive, Dapulse, Handifox, KCSI, Megaventory, Veeqo, eTurns, Dearinventory, SkuVault, Manhattan Associates, and Sage.
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