06-Feb-2020 | Facts and Factors
Facts and Factors have authored “Inventory Management Software Market By Type (Manually Managed Inventory Systems, Barcode Scanning Systems, & Advance Radio Frequency Systems (RFID)), By Application (Order Management, Asset Tracking, Service Management, & Product Differentiation), By Deployment Mode (On-Premise & Cloud-Based), And By Regions: Global Industry Size, Share, Insights and Forecast, 2021-2026”. Based on our analysis, the global inventory management software market in 2020 is approximately USD 1,567.32 Million and is anticipated to reach around USD 2,874.65 Million by 2026. The anticipated CAGR for the inventory management software market is above 10.8% from 2021 to 2026.
The advantage of using inventory management software is that it aids in easy tracking of orders, deliverables, and maintaining and checking appropriate inventory levels. Other benefits of utilizing the software particularly by the manufacturing sector are it simplifies the billing of the materials, work order creation, and other documents associated with the production. Asset tracking is one of the benefits offered by inventory management software. As the products in the warehouse are provided with serial numbers or barcodes, with the help of the software assets are tracked by using the RFID technology.
Browse the full “Inventory Management Software Market By Type (Manually Managed Inventory Systems, Barcode Scanning Systems, & Advance Radio Frequency Systems (RFID)), By Application (Order Management, Asset Tracking, Service Management, & Product Differentiation), By Deployment Mode (On-Premise & Cloud-Based), And By Regions: Global Industry Size, Share, Insights and Forecast, 2021-2026” report at https://www.fnfresearch.com/global-inventory-management-software-market-by-product-advanced
Market Highlights in the Report
- Solutions provided by the inventory management software market include asset tracking, reorder points, product identification, and inventory optimization.
- The factor that may limit market growth is cyberattacks. In the past decade, the increased use of technology has gradually increased the cases of cyberattacks leading to data theft & manipulation. Any such manipulations can lead to a loss for the organization.
- Barcode scanning system has gained popularity among various organizations and has registered a market value of above USD 1100 Million in 2018.
- Although the on-premise category gains the majority of the market shares cloud anticipates gaining popularity and a rapid growth rate in the forecast period.
- The cloud category anticipates registering a CAGR of above 8% during the forecast period.
- In terms of application, asset tracking gained the majority of the market shares during the forecast period owing to the increased use of RFID technology.
- North America dominated the inventory management software market gaining more than USD 900 Million in 2018.
- The growing manufacturing base in the Asia Pacific has increased the application of inventory management software, thus expecting a significant growth rate in the forecast timeframe.
Digitalization in the Asia Pacific region fuels the inventory management software market
Growing initiatives by the government to develop digitization have developed numerous growth opportunities for retailers in the region. The majority of retailers are focusing to shift their focus on online platforms for product sales. The Indian government has launched various programs to promote digitalization such as “Digital India” to improve their online infrastructure.
In the first 9 months of 2017, the campaign received investments worth USD 7.4 Billion as compared to USD 4.5 Billion in 2016. In the Asia Pacific, the countries that are considered to be lucrative for the market players are India and China. Advancing sales by e-commerce have gradually increased the demand for the inventory management software market.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 1,567.32 Million |
Projected Market Size in 2026 |
USD 2,874.65 Million |
CAGR Growth Rate |
10.8% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
FreshByte Software, Galley, LogixPath LLC, Tree Tracker, Limble CMMS, Snappii, Elite Seller, EZRentOut, Alterity, Inc., Archon Systems, Blue Younder, Lightspeed POS, Inc., Manhattan Associates, Microsoft Corporation, Monday.com, NCR Corporation, and Oracle Corporation, and others. |
Key Segment |
By Type, Application, Deployment Mode, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Top Market Players
The key market participants in the global inventory management software market are FreshByte Software, Galley, LogixPath LLC, Tree Tracker, Limble CMMS, Snappii, Elite Seller, EZRentOut, Alterity, Inc., Archon Systems, Blue Younder, Lightspeed POS, Inc., Manhattan Associates, Microsoft Corporation, Monday.com, NCR Corporation, and Oracle Corporation, among others.
This report segments the inventory management software market as follows:
Global Inventory Management Software Market: By Type Segment Analysis
- Manually Managed Inventory Systems
- Barcode Scanning Systems
- Advance Radio Frequency Systems (RFID)
Global Inventory Management Software Market: By Application Segment Analysis
- Order Management
- Asset Tracking
- Service Management
- Product Differentiation
Global Inventory Management Software Market: By Deployment Mode Segment Analysis
Global Inventory Management Software Market: Regional Segment Analysis
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
About Us:
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