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Category Management Software Market Analysis, Industry Size, Share, Key Players And Forecast To 2033
Category Management Software Market
As per the report, the category management market size has grown rapidly in recent years. It will grow from $1.90 billion in 2023 to $2.16 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The category management market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
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Surge In Retail Stores Fuels Growth In Category Management Software Market
The rise in the number of retail stores is expected to propel the growth of the category management software market going forward. Retail stores are physical or online establishments where businesses sell goods and services directly to consumers. The number of retail stores is increasing due to growing consumer demand for convenient shopping options and retailers' efforts to expand their presence and reach new markets. Category management software streamlines inventory, sets competitive prices, and improves store layouts, leading to better sales and profitability for retail stores. For instance, in january 2024, according to a report published by the National Association of Convenience Stores, a US-based trade association, the United States saw a 1.5% rise in convenience stores, bringing the total number to 152,396 in 2024, compared to the count in 2023. Therefore, the rise in the number of retail stores is driving the growth of category management software.
AI-Powered Category Management Solutions For Enhanced Efficiency And Strategic Decision-Making
Major companies operating in the category management software market are focusing on integrating artificial intelligence to develop AI-powered category management software to enhance efficiency and optimize decision-making processes. AI-powered category management is a software solution that utilizes artificial intelligence algorithms and techniques to enhance the process of category management in retail settings. For instance, in January 2024, Symphony Innovation LLC, an India-based provider of predictive intelligence software solutions, launched the category manager copilot system in collaboration with the Microsoft Azure Open AI service for retailers and consumer packaged goods. This system utilizes both text and graphics to rapidly analyze user queries and identify performance-affecting factors in a product category. The copilot acts as a virtual assistant that empowers category managers to handle tasks faster, easier, and more strategically, allowing them to focus on high-value strategic activities rather than mundane operational tasks.
The category management software market covered in this report is segmented -
1) By Component: Solution, Service
2) By Deployment: On-Premises, Cloud-Based
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Retail, Distribution, Consumer Packaged Goods
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Major companies operating in the category management software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Capgemini SE, Cognizant, Zebra Technologies Corporation, Nielsen Holdings plc, SAS Institute Inc., ID Logistics Group, PTC Inc., Acosta Inc., Teradata Corporation, Information Resources Inc., Epicor Software Corporation, Manhattan Associates Inc., Qlik Technologies Inc., Anaplan Inc., MicroStrategy Incorporated, Aptos LLC, Vistex Inc., AFS Technologies, JDA Software, Jagger LLC, Velocity Financial Inc.
Contents of the report:
1. Executive Summary
2. Category Management Software Market Report Structure
3. Category Management Software Market Trends And Strategies
4. Category Management Software Market - Macro Economic Scenario
5. Category Management Software Market Size And Growth
…..
27. Category 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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