The Inventory Management Software Market Reach USD 4.8 Billion by 2032 Growing at 8.7% CAGR

According to the report published by Allied Market Research, The Inventory Management Software Market Reach USD 4.8 Billion by 2032 Growing at 8.7% CAGR. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The integration of advanced technologies such as AI, IoT, and blockchain is enhancing the capabilities of inventory management software, making it more attractive to businesses. However, challenges such as the high cost of software and the expenses related to implementation and training pose barriers to market growth. In addition, concerns about data security and privacy can deter some organizations from adopting these solutions. Despite these challenges, the market is poised for significant growth. The rise in demand for automation and digitalization in various industries, along with the increasing trend toward cloud-based solutions, provides lucrative opportunities for market expansion. Furthermore, the growing emphasis on real-time inventory tracking and analytics to optimize operations and reduce costs is expected to fuel the adoption of inventory management software globally.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 200 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A121361

The global inventory management software market was valued at $2.3 billion in 2023, and is projected to reach $4.8 billion by 2032, growing at a CAGR of 8.7% from 2024 to 2032.

The inventory management software market is segmented into deployment mode, application, enterprise size, industry vertical, and region. On the basis of deployment mode, the market is divided into on-premise and cloud. On the basis of application, the market is divided into inventory control and tracking, order management, scanning and barcoding, asset management, and others. As per enterprise size, the market is bifurcated into large enterprises and small and medium enterprises (SMEs) . On the basis of industry vertical, the market is categorized into manufacturing, retail and consumer goods, healthcare and life sciences, energy and utilities, automotive, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐬𝐮𝐦𝐦𝐚𝐫𝐲 𝐚𝐭 : https://www.alliedmarketresearch.com/inventory-management-software-market-A121361

Based on deployment mode, the on-premise segment held the highest market share in 2023, accounting for around three-fourths of the global inventory management software market revenue, and is likely to retain its dominance throughout the forecast period. An on-premise installation strategy enables users to monitor their site through desktops or additional systems. The on-premise inventory management systems give users complete control or administrative access to their inventory management software when a program is installed at the company premises. However, the cloud segment is projected to manifest the highest CAGR from 2024 to 2032. This can be attributed to the fact that the use of cloud platforms brings flexibility and stability to a business. The segment growth is attributed to the rise in e-commerce and the various methods of order fulfillment.

Based on application, the inventory control and tracking segment held the highest market share in 2023, accounting for nearly two-fifths of the global inventory management software market revenue, and is likely to retain its dominance throughout the forecast period. The demand for inventory control and tracking is driven by the fact that organizations can use this type of management software to ensure that stock levels of their inventory are kept at optimal levels, reducing the risk of overstocking or shortage. However, the scanning and barcoding segment is projected to attain the highest CAGR from 2024 to 2032. This can be attributed to the fact that barcode scanners are being extensively used for tracking inventory movements throughout a supply chain.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A121361

Based on region, North America held the highest market share in terms of revenue in 2023, accounting for half of the global inventory management software market revenue, and is expected to continue leading throughout the forecast period. This dominance is driven by the widespread adoption of advanced technologies, the presence of major market players, and a high demand for efficient supply chain management and automation across various industries such as retail, manufacturing, and healthcare. The aging population, particularly the baby boomer generation, significantly contributes to this growth as it increases the demand for healthcare services and products, necessitating efficient inventory management solutions for medical supplies and equipment. In addition, North American businesses continually innovate to meet the evolving needs and preferences of consumers by developing new services like personalized customer experiences, self-service options, and advanced analytics for inventory optimization, further propelling the market growth in the region.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞

The major players operating in the inventory management software market include Zoho Corporation Pvt. Ltd., IBM Corporation, Oracle Corporation, Lightspeed, CIN7 Ltd., Linnworks, and Brightpearl. Other players in the inventory management software market include Intuit Inc., Acumatica, Inc., Fishbowl, and others.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A121361

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬:

● In April 2024, AvanSaber launched a new inventory management system, StockVR. This technology combines the capabilities of virtual reality (VR) and augmented reality (AR) to offer businesses an approach to managing their stock. With its immersive interface, the StockVR platform allows users to virtually access warehouse spaces, inspect products up close, and monitor stock levels with accuracy. One of the features of StockVR is its ability to integrate with existing inventory systems, ensuring a smooth transition for businesses looking to adopt VR and AR solutions.

● In July 2023, Trimble announced the launch of LIMS PRO, a new cloud-hosted version of its widely used Log Inventory and Management System (LIMS) to manage sawmill raw material procurement. As a cloud-based log settlement solution, LIMS PRO is designed to improve operational visibility for mills. It enables small- and medium-sized forest product companies to realize productivity and growth gains that only large companies have historically been able to afford by digitizing lumber supply chain workflows. In addition, this robust business management software streamlines contracts, receiving, inventory and settlement processes into a single platform, providing forestry companies with a complete picture of their operations.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟓𝟎% 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 (200 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/inventory-management-software-market/purchase-options

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