Retail Inventory Management Software Market Size, Growth, Trends, Outlook Report 2033
Global retail inventory management software market size is expected to reach 13.52 Bn by 2028 at a rate of 12.7%, segmented as by type, manually managed inventory systems, barcode scanning systems, advanced radio frequency systems (rfid)
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The retail inventory management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Retail Inventory Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
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 growth in the historic period can be attributed to the increasing number of e-commerce retailers, globalization of supply chains, rising customer expectations, competition, and market differentiation, and increasing product complexity.
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%. The growth in the forecast period can be attributed to the shift towards cloud-based solutions, growing emphasis on inventory visibility, demand for real-time data, and the rise of omnichannel retailing. Major trends in the forecast period include the adoption of advanced analytics and artificial intelligence (AI), enhanced integration capabilities, sustainability and green practices, mobile accessibility, and IoT integration.
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Scope Of Retail Inventory Management Software Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Retail Inventory Management Software Market Overview
Market Drivers -
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.
Market Trends -
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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Regional Insights -
North America was the largest region in the retail inventory management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail inventory management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies -
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
Table of Contents
1. Executive Summary
2. Retail Inventory Management Software Market Characteristics
3. Retail Inventory Management Software Market Trends And Strategies
4. Retail Inventory Management Software Market - Macro Economic Scenario
5. Global Retail Inventory Management Software Market Size and Growth
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33. Global Retail Inventory Management Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Retail Inventory Management Software Market
35. Retail Inventory Management Software Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Retail Inventory Management Software Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Retail Inventory Management Software Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Retail Inventory Management Software Market, Segmentation By Pricing, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………..
Table 76: Microsoft Corporation Financial Performance
Table 77: IBM Corporation Financial Performance
Table 78: Oracle Corporation Financial Performance
Table 79: SAP SE Financial Performance
Table 80: Infosys Limited Financial Performance
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