What are the upcoming trends in the Inventory Management Software Market? | monday.com, Fishbowl, Manhattan Associates, Microsoft, Oracle, SAP, Stitch Labs, TradeGecko, Wasp Barcode Technologies, Zoho Corporation

The global inventory management software market has grown remarkably over the last decade with the shifting trends toward automation for curbing inventory costs and maximizing sales. Earlier, owing to the practice of deploying manual labor, flawless efficiency was difficult to come by, hampering the productivity of the organization. Considering the benefits of inventory management software for handling stock effectively, tracking, and analyzing the flow of goods from manufacturers to the customers, several industries have been deploying this software on a large scale. The increasing importance imparted for inventory management to avoid instances of the product being out of stock and the like is likely to foster the inventory management software market trends over the years ahead.

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In the last few years, the advent of next-generation technologies has emerged as a game changer for most of the industry verticals. For instance, after the launch of asset management software, the commercial real estate industry has experienced notable changes in its day-to-day functionality and operations. Advanced software has made financial calculations and modeling easier, thereby enabling easy and optimized management of actionable information. The contributors in the real estate industry have been using this software for making portfolios and analyzing real estate data.

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

Speaking about the future prospects of inventory management software market, it is imperative to mention that the increasing deployment of the product will turn out to be highly rewarding for the market. The growing awareness among the commercial end-users about the use of stock management software has encouraged software developers to launch new ranges of products pertaining to which they have been able to secure better deals from their clientele. For instance, enterprise software provider, Ramco Systems has received an order from Advanced Global Resources LLC to supply its aviation suite which tracks and manages inventory effectively. Focusing on the flexibility, solution breadth, and mobile-friendly capabilities, the American technology provider has chosen Ramco's aviation suite that will help them maintain advanced procurement, invoicing, inventory and vendor management.

North America is anticipated to emerge as one of the most lucrative grounds for inventory management software market. The surging adoption of next-generation technologies such as the Internet of Things and cloud computing are slated to fuel the North America inventory management software industry outlook over the years ahead. Driven by an expanding e-commerce industry and a rapidly growing manufacturing sector that has been adopting industrial IoT on a large scale, North America held a dominant 40% of the overall inventory management software market share and is anticipated to grow at a commendable pace ahead.

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The shifting trends toward prominent use of software to automate inventory management facilities and integrate the entire business to fulfill customer expectations will have a positive influence on the product demand. The growing involvement of companies in stock audits at regular interval for predicting economic growth will also have a marginal impact on the industry size in the near future. Reportedly, as per Global Market Insights, Inc., overall inventory management software market will surpass a revenue collection of USD 3 billion by the end of 2024.

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