Global Inventory Management Software Market Is Anticipated To Reach $7.69 Billion By 2032

Zion Market Research has published a new report titled “Inventory Management Software Market By Product (Advanced Radio Frequency System, Barcode Scanning System, and Manually Managed Inventory System), By Deployment (On-Premises and Cloud-Based), By Organization Size (SMEs and Large Enterprises), By Application (Service Management, Asset Tracking, Order Management, Inventory Optimization, and Product Differentiation), and By Vertical (Healthcare, Retail, Automotive, Oil & Gas, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.”. According to the report, the global inventory management software market was USD 2.58 Billion in 2023, with projections indicating that it will reach USD 7.69 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 12.9% over the forecast period 2024-2032.

Over the last decade, inventory management solutions have advanced by leaps and bounds. Inventory management software plays a crucial role in today's business plans, as it tracks and records inventories along with significantly contributing to a company’s growth by offering information related to the product demand.

Browse the full “IInventory Management Software Market By Product (Advanced Radio Frequency System, Barcode Scanning System, and Manually Managed Inventory System), By Deployment (On-Premises and Cloud-Based), By Organization Size (SMEs and Large Enterprises), By Application (Service Management, Asset Tracking, Order Management, Inventory Optimization, and Product Differentiation), and By Vertical (Healthcare, Retail, Automotive, Oil & Gas, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.?” Report at https://www.zionmarketresearch.com/report/inventory-management-software-industry

The easy and user-friendly inventory tracking facilities is the major factor propelling the inventory management software market worldwide. Inventory management software is used for tracking level, orders, sales, and delivery. Numerous inventory management, control, and tracking applications are available for iOS and Android devices. The inventory management software helps in easily managing, controlling, and tracking inventory, irrespective of location and time. Manufacturing plants of large MNCs are usually connected through wireless networks and operate in remote locations. The globally rising demand for inventory tracking solutions is also driving the inventory management software market.

However, the high initial installation cost may hinder the inventory management software market to some extent. The software cost generally depends on the features and the abilities that it offers along with the access to the number of users and products involved. Additionally, data security is one of the major concerns for inventory management software vendors, as the software carries vital information related to customers, product, and technicians. Cyber attackers can hack into these systems and manipulate the data to misguide technicians. Furthermore, connected devices are among the major upcoming trends in the inventory management software market.

The inventory management software market is categorized based on product, deployment, organization size, application, and vertical. The product segment includes an advanced radio frequency system, manually managed inventory system, and barcode scanning system. The growing adoption of radio frequency identification will fuel the advanced radio frequency system segment in the years ahead. By deployment, the market is categorized into on-premises and cloud-based. The organization size segment includes SMEs and large enterprises.

By application, the market comprises service management, order management, asset tracking, product differentiation, and inventory optimization. The vertical segment of the inventory management software market includes retail, healthcare, automotive, manufacturing, oil and gas, and others.

North America is projected to hold the largest share of the inventory management software market globally in the years ahead, owing to the early adoption of the latest technologies and the strong regional presence of leading market players.

Inventory Management Software Market: Competitive Space

The global inventory management software market profiles key players such as:

• Oracle
• SAP
• Microsoft
• Zoho
• TradeGecko
• Fishbowl
• Brightperal
• Ordoro
• Acctivate
• Wasp Barcode Technologies
• Stitch Labs
• Orderhive
• Dapulse
• Handifox
• KCSI
• Megaventory
• Veeqo
• eTurns
• Dearinventory
• SkuVault
• Manhattan Associates
• Sage

This report segments the global inventory management software market into:

Inventory Management Software Market: Product Analysis

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

Inventory Management Software Market: Deployment Analysis

• On-Premises
• Cloud-Based

Inventory Management Software Market: Organization Size Analysis

• SMEs
• Large Enterprises

Inventory Management Software Market: Application Analysis

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

Inventory Management Software Market: Vertical Analysis

• Healthcare
• Retail
• Automotive
• Oil and Gas
• Manufacturing
• Others

Inventory Management Software Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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