Inventory Management Software Market 2018-2024 by Leading Top Companies: monday.com, Fishbowl, Manhattan Associates, Microsoft, Oracle, SAP, Stitch Labs, TradeGecko, Wasp Barcode Technologies, Zoho Corporation

Inventory Management Software Market in manufacturing sector is expected to grow at 25% CAGR till 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 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.

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Global Inventory Management Software Market was estimated at over USD 2 billion in 2017, and is set to exceed USD 3 billion by 2024; according to a new research report by Global Market Insights, Inc. The inventory management software market growth is attributed to the rapidly growing global e-commerce landscape, retailers emphasizing on offering omnichannel shopping experience to their customers, and the increasing manufacturing output due to the adoption of Industrial IoT (IIoT). Inadequate supply of inventory may grind manufacturing operations into a halt. On the other hand, the excessive supply of inventory can cripple an organization’s cash flow and pose a threat to its liquidity position. Either way, inefficient inventory management in manufacturing organizations can create serious challenges for the productivity of the companies. Hence, the demand for robust inventory management solutions in the manufacturing sector is expected to increase consistently over the forecast timeline.

The advanced radio frequency system (RFID) segment in inventory management software market is projected to register an accelerated growth during the forecast timeline with an impressive CAGR of around 11%. The technology allows supply chain managers to identify individual products and components and to track the movement of the inventory throughout the supply chain right from the manufacturing unit to the point-of-sale. The systems are used for ensuring stock security, quality control, and for the prevention of over-stocking or under-stocking of products.

The inventory optimization application is anticipated to exhibit a lucrative growth at a CAGR of over 9% between 2018 and 2024. Inventory management systems enable effective inventory optimization by allowing organizations to reduce inventory by a considerable percentage to free up working capital from unnecessary inventory buffers. This also facilitates reduced inventory carrying costs and increased customer service performance.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. monday.com
2. Fishbowl
3. Manhattan Associates
4. Microsoft
5. Oracle
6. SAP
7. Stitch Labs
8. TradeGecko
9. Wasp Barcode Technologies
10. Zoho Corporation

Inventory Management Software Market, By Type
o Manually Managed Inventory System
o Barcode Scanning System
o Advanced Radio Frequency System (RFID)

Inventory Management Software Market, By Application
o Order Management
o Asset Tracking
o Service Management
o Product Differentiation
o Inventory Optimization

Inventory Management Software Market, By Deployment Model
o On-premise
o Cloud

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The large organization market is projected to register an impressive growth over the forecast timeline with a CAGR of over 8%. Large enterprises invest significant resources in inventory management systems to ensure uninterrupted supply of inventory throughout the supply chain for avoiding any production or distribution losses. The solutions enable such businesses with large volumes of inventory to efficiently track the products at every stage.

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.

Some of the key players operating in the inventory management software market are Acctivate Inventory Management Software, monday.com, DEAR Inventory, eTurns, Fishbowl, Kornyk Computer Solutions Intl, Manhattan Associates, Megaventory Inc., Microsoft, Oracle, Orderhive, Ordoro, SAGE Group, SAP, SkuVault, Stitch Labs, TradeGecko, Veeqo, Wasp Barcode Technologies, and Zoho Corporation.

Browse key industry insights spread across 220 pages with 338 market data tables & 30 figures & charts from the report, Inventory Management Software Market in detail along with the table of contents:

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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.

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