Inventory Management Software Market Forecast by Key Players: Oracle, Microsoft, Epicor, SAP, JDA Software, Accellos, Aldata Software, IBM, GTNexus, Totvs, Netsuite, Retalix, Quintiq, Kewill Systems, Kinaxis

Inventory Management Software Market size is driven by the need to generate and manage orders, bills, and documents, especially in the retail and manufacturing industry. The growth of the market is driven by the increase in the omnichannel retailing and the growing popularity of the e-commerce. Inventory management software is also used for managing and tracking the inventory levels, deliveries, sales, and orders. The software offers several benefits, such as asset tracking & monitoring, order management, inventory optimization and product identification, driving its demand among the industry verticals.

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With the adoption of smartphones and tablets, the popularity of the mobile commerce and e-commerce also increases. It encourages retailers to replace their physical stores with online stores. Furthermore, the increasing internet penetration and technological advancements also lead to the increase in the number of online shoppers, which fuels the competition between retailers. This gives rise to the requirement of real-time analytics and an effective software to manage the orders, sells, and inventory to gain a competitive edge over competitors. Therefore, it is estimated to augment the demand for inventory management software. However, there are certain factors that are hindering the growth of the market. The high installation cost, data security, and customer privacy are the major factors that are restricting the growth of the market.

North America is estimated to be the leading region in the market owing to the presence of a large number of market players and rising requirements to streamline inventory and manage real-time data. The Asia Pacific region is anticipated to witness a high growth during the forecast period owing to the growing demand for automated tools at the workplace to improve the performance of the business. Furthermore, the growing popularity of e-commerce and increasing digitalization in developing countries including India and China are also driving the growth of the market.

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Some of the major vendors present in the inventory management software market are Oracle, Microsoft, Epicor, SAP, JDA Software, Accellos, Aldata Software, IBM, GTNexus, Totvs, Netsuite, Retalix, Quintiq, Kewill Systems, Kinaxis, etc. The growing demand for the inventory management software has intensified the competition amongst the market players. The players are adopting various strategies, such as mergers & acquisitions, product launches, geographical expansion, collaborations, and partnerships, to gain market share and get an edge over the competitors.

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