Inventory Management Software Market Growth Factor and Major Players: Ordoro, Fishbowl, Zoho, Oracle, Microsoft, SAP, Stitch Labs, Dapulse (Monday.com), Dearinventory, Brightperal, TradeGecko, Orderhive, Veeqo, SkuVault, Megaventory, Wasp Barcode

The cloud model is projected to acquire a inventory management software market share of over 35% by 2024. The market growth is characterized by increasing awareness regarding the benefits of scalability, flexibility, and enhanced security offered by cloud platforms. SMBs can save significant costs on capital investments by opting for cloud-based inventory management software without the need for procuring dedicated hardware and software resources. Also, cloud providers offer pay-as-you-go services to their customers, allowing them to scale their usage of inventory management systems dynamically with respect to the changing market demands.

The factors fueling the growth of the inventory management software market include the increased adoption of the software in retail, logistics, and transportation. The growth of the e-commerce sector has led to the expansion of warehouse and inventory operations, which have increased the demand for scalable and robust cloud-based inventory management solutions. The presence of well-established distribution channels and the highly competitive retail landscape is expected to generate the need for efficient inventory management systems, which will help the organizations to know which stock is on hand and enable effective demand and supply forecasts.

Request for a sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2364

The manufacturing sector is expected to secure a inventory management software market share of over 25% by 2024. This impressive growth is attributed to the robust growth of the manufacturing sector after Industry 4.0, and the emergence of automation systems in manufacturing to rapidly increase production capacities. According to the UN, manufacturing globally contributed to 17% of the total economic value in 2016. This steady growth of the sector is expected to further fuel the demand for modern inventory management software to streamline and optimize the manufacturing process flows.

The barcode technology is widely used for increasing the accuracy and efficiency of inventory management systems. Barcode scanners enable organizations to easily process large item sets with the ability to pull the data directly from the cash registers and POS systems. Using such systems reduces the man-hours spent on the inventory counting and increases the organization?s overall productivity. However, with the use of advanced technologies, such Radio Frequency Identification (RFID), monitoring the movement of inventory in real-time has become more efficient. The growing adoption of the RFID technology in inventory management practices is expected to further facilitate the inventory management software market growth.

Inventory Management Software Market was estimated at over USD 2 billion in 2017, is set to surpass USD 3 billion by 2024.

Growth Drivers:

• Growing trend of omnichannel retailing
• Increasing demand for the RFID technology
• Widespread adoption of smartphones and other mobile devices
• Rapidly growing popularity of e-commerce
• Need to mitigate supply chain inefficiencies

Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/2364

North America is projected to hold a significant share of over 42% in the inventory management software market by 2024 due to the increasing number of retailers and manufacturing companies, which are using the omni-channel platforms to increase their productivity and efficiency. For instance, in July 2017, indiCo and RSMA, providers of retail planning and forecasting solutions entered into a strategic partnership to make advanced inventory tools for small and independent campus stores.

Asia Pacific inventory management software market is projected to register an excellent growth with a CAGR of around 10% between 2018 and 2024. This growth can be attributed to a rapidly evolving e-commerce ecosystem along with heavy investments from venture capitalists to leverage the growing demand for online marketplaces. In 2017-2018, the retail shrinkage as a percentage of sales in the Asia Pacific region was estimated at around 1.75%, amounting to nearly USD 24 billion. To tackle the growing concerns related to the inventory shrinkage, the uptake of inventory management software in the region is expected to grow consistently over the forecast timeline.

Browse key industry insights spread across 220 pages with 338 market data tables & 30 figures & charts from the report, “Inventory Management Software Market Size By Type (Manually Managed Inventory System, Barcode Scanning System, Advanced Radio Frequency System (RFID)), By Application (Order Management, Asset Tracking, Service Management, Product Differentiation, Inventory Optimization), By Deployment Model (On-premise, Cloud), By Organization (Large Organization, SMB), By End Use (Manufacturing, Medical/Healthcare, Retail, Automotive, Oil & Gas), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, China, Japan, India, Australia, Southeast Asia, Brazil, Mexico, Argentina, South Africa, UAE, Saudi Arabia), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/inventory-management-software-market

Some of the key players operating in the inventory management software market are Ordoro, Fishbowl, Zoho, Oracle, Microsoft, SAP, Stitch Labs, Dapulse (Monday.com), Dearinventory, Brightperal, TradeGecko, Orderhive, Handifox, Veeqo, SkuVault, Megaventory, Wasp Barcode Technologies, Acctivate, Sage, Manhattan Associates, and KCSI.

Browse Related Reports:

Mobile Mapping Market Size, By Component, Application, Region-Forecast, 2018 – 2024

The key players in the mobile mapping market are Hexagon, EveryScape, Foursquare Labs, MapJack, Mapquest, Navteq, NCTech, Microsoft, Mitsubishi, NovAtel, Phaseone industrial, Phoenix LiDAR, Sharp Corporation, Teledyne Optech, Tom Tom International, Topcon Positioning Systems, and XIMEA.

https://www.gminsights.com/industry-analysis/mobile-mapping-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

4 North Main Street
SellbyvilleContact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

This release was published on openPR.