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Global Inventory Management Software Market Estimates to Accrue Market Value of About USD 3,600 Million By 2026

06-Feb-2020 | Facts and Factors

Facts and Factors has authored “Inventory Management Software Market By Product (Advanced Radio Frequency System, Barcode Scanning System, and Manually Managed Inventory System), By Deployment (Cloud and On-Premise), By Application (Service Management, Asset Tracking, Order Management, Inventory Optimization, and Product Differentiation), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026”. Based on our analysis, the global inventory management software market in 2019 is approximately USD 2,310 Million and is anticipated to reach around USD 3,600 Million by 2026. The anticipated CAGR for the inventory management software market is above 6% from 2020 to 2026.

The advantage of using inventory management software is that it aids in easy tracking of orders, deliverables, and to maintain and check 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 the 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.

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Browse the full Inventory Management Software Market By Product (Advanced Radio Frequency System, Barcode Scanning System, and Manually Managed Inventory System), By Deployment (Cloud and On-Premise), By Application (Service Management, Asset Tracking, Order Management, Inventory Optimization, and Product Differentiation), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 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 point, product identification, and inventory optimization.
  • The factor that may limit market growth is cyberattacks. In the past decade, 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 inventory management software market

Growing initiatives by the government to develop digitization has developed numerous growth opportunities for retailers in the region. The majority of the 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.

The major list of industry players involved in the inventory management software market include Oracle, Kornyk Computer Solutions International, Inc. (KCSI), TradeGecko Pte. Ltd., Fishbowl, Brightpearl , monday.com (Dapulse, Ordoro, Alterity, Inc. (Acctivate), SAP, Zoho, Handifox (Tecom Group, Inc.), Megaventory Inc., Veeqo Ltd., eTurns Incorporation, Dear Systems, SkuVault, Manhattan Associates, Sage, Intuit, Microsoft, Wasp Barcode, Stitch Labs, and Orderhive.

This report segments the inventory management software market as follows:

Global Inventory Management Software Market: Product Segment Analysis

  • Advanced Radio Frequency System
  • Barcode Scanning System
  • Manually Managed Inventory System

Global Inventory Management Software Market: Deployment Segment Analysis

  • Cloud
  • On-Premise

Global Inventory Management Software Market: Application Segment Analysis

  • Service Management
  • Asset Tracking
  • Order Management
  • Inventory Optimization
  • Product Differentiation

Global Inventory Management Software Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • 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

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