Inventory Management Software Market : Top Players – Alterity, Inc., Archon Systems, Inc., Blue Younder (JDA Software), Clear Spider, Expresstech International, LLC (Fishbowl), Lightspeed POS, Inc., Manhattan Associates, Microsoft Corporation, Monday.co

Which are the key drivers that would propel the global inventory management software market size through 2026?

The global inventory management software market is projected to foresee tremendous revenue expansion due to the growing need for resolving risks linked to inventory management and also streamlining the overall inventory management process.

Today, several companies are increasingly adopting this software owing to the number of prominent benefits it offers. These systems provide better accuracy and efficiency in inventory management, enhanced data planning, and visibility, reduce extra stock as well as stock-ins in the inventory, and also offer better level of customer services. All these benefits are majorly encouraging retailers to integrate these software solutions and effectively enhance their operations.

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Global Market Insights Inc., anticipated the inventory management software market size to exceed a $5 billion valuation by 2026.

How would the manually managed inventory systems fare in the inventory management software market landscape?

With regards to type, the manually managed inventory systems segment is projected to witness substantial growth due to the increasing shift away from paper-based inventory management procedures. Industries are moving away from paper-based systems and adopting manually managed inventory systems since these systems helps companies in ordering as well as tracking functions for certain number of products. These systems manually get formulae from users for both complex and simple calculations associated with inventories, making the process much more simpler.

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Which deployment model is anticipated to witness distinguished growth?

With respect to the deployment model, the cloud deployment segment is projected to expand at a healthy CAGR of more than 9% over the analysis period. This growth can be ascribed to the extensive digitization happening across a number of industries and enterprises as they migrate to a cloud-based network infrastructure, which is increasing the product deployment. In addition, extensive features and capabilities like decreased downtime, cost-effectiveness, and offshore installation offered by the SaaS-based inventory management software are further increasing its prevalence among companies. Moreover, system integration as well as configuration of the cloud deployment model are comparatively faster than the on-premise model which is augmenting its demand.

Why is the inventory management software market expanding in Europe?

Consistent expansion of the retail sector and the development of enhanced software solutions are driving the Europe inventory management software market share. In fact, Europe is projected to hold a massive 25% market share of the overall industry by the end of the analysis time period. Enterprises are increasingly developing intuitive POS software solutions with effective inventory management capabilities. Taking September 2019 for instance, Lightspeed, a renowned point of sale software solution provider reportedly unveiled the Lightspeed Retail 3.0. This advanced software includes features such as profile, sales history, and retail manager functionalities, which also includes inventory management capabilities. This product helped the firm to provide innovative inventory management software solutions to SMEs in Europe.

Key market players are, in fact, increasingly launching new products to meet the tremendous demand being generated by the flourishing e-commerce industry. In fact, according to Amazon, one of the world’s most prominent e-commerce companies, approximately 1 million small businesses are selling on the Amazon platform. As more regions get access to digital platforms and technologies, more businesses are expected to come online, and as more businesses get such exposure, the inventory management software sector is expected to witness momentous demand as businesses focus on ensuring sustainable growth.

The competitive landscape of the global inventory management software market is inclusive of players such as Zoho Corporation, SAP SE, NCR Corporation, Microsoft Corporation, and Lightspeed among others.

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

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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