Retail Inventory Management Software Market Size And Growth Forecast 2024-2033

The new report published by The Business Research Company, titled ""Retail Inventory Management Software Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the retail inventory management software market size has grown rapidly in recent years. It will grow from $7.45 billion in 2023 to $8.37 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The retail inventory management software market size is expected to see rapid growth in the next few years. It will grow to 13.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%.

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The Expansion E-commerce Fuels Growth In The Retail Inventory Management Software Market
The expansion of e-commerce is expected to propel the growth of the retail inventory management software market going forward. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The expansion of e-commerce is due to expanding internet access and shifting consumer preferences towards online shopping. Retail inventory management software in e-commerce streamlines stock control, order fulfillment, and inventory synchronization across online platforms, ensuring efficient operations and customer satisfaction. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, e-commerce sales reached $1,118.7 billion in 2023, a 7.6% increase from 2022. Therefore, the expansion of e-commerce is driving the growth of the retail inventory management software market.

Enhancing Retail Operations With Next-Generation RFID Inventory Management Software
Major companies operating in the retail inventory management software market are increasing their focus on developing innovative products, such as ItemOptix, to gain a competitive edge in the market. ItemOptix is a next-generation radio-frequency identification inventory management software for retailers that improves inventory visibility and reduces out-of-stock situations, helps retailers enhance operational efficiency, and improves the shopper's experience. For instance, in December 2023, Checkpoint Systems, a US-based software company, launched the next-generation RFID (radio-frequency identification) inventory management software ItemOptix for Retail. This software enables retailers to manage their inventory from source to shop effectively. The software has self-service functionalities that make the initial setup and ongoing system maintenance quick and straightforward. Additionally, the software has industry-standard REST APIs that allow for swift and easy integration processes. This streamlined deployment gives users more control over inventory management, providing a seamless experience.

The retail inventory management software market covered in this report is segmented -

1) By Type: Manually Managed Inventory Systems, Barcode Scanning Systems, Advanced Radio Frequency Systems (RFID)
2) By Deployment: On-Demand, On-Premise
3) By Pricing: Subscription, One-Time Payment
4) By Application: Order Management, Asset Tracking, Service Management, Product Differentiation, Inventory Optimization
5) By End-User: Traditional Retailers, Off-Price Retailers

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Major companies operating in the retail inventory management software market are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Infosys Limited, Square Inc., Dassault Systèmes, Sage Group plc, Lawson Software, Epicor Software Corporation, Zoho Corporation, Manhattan Associates, Lightspeed Retail, Kinaxis Inc., Kewill Systems, Retalix Ltd, BluJay Solutions, Retail Pro International, Logility Inc, Brightpearl Limited, Wasp Barcode Technologies, InFlow Inventory Software, HighJump, Fishbowl, Aldata Software Management Inc, Ordoro

Contents of the report:
1. Executive Summary
2. Retail Inventory Management Software Market Report Structure
3. Retail Inventory Management Software Market Trends And Strategies
4. Retail Inventory Management Software Market - Macro Economic Scenario
5. Retail Inventory Management Software Market Size And Growth
…..
27. Retail Inventory Management Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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