Retail Inventory Management Software Market to Witness Brisk Growth Over 2030

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Retail Inventory Management Software Market Research Report.

The expeditious advancement in technology is leading the global retail industry towards digitization. The retail inventory management software is one such platform that bears real-time inventory data with the help of the tools that are used to track, manage and organize the material flow, keeping record of the entire supply chain process. Market Research Future (MRFR) has recently published a report projecting an impressive CAGR for the global retail inventory management software market during 2022 to 2030.

The retail inventory management software aids in the centralization of the inventory data from different locations using various methodologies such as stock review, just in time technology, ABC analysis and many others to manage the flow of goods till they are delivered to the end users. The cloud-based data storage solution used in retail inventory management helps in maximizing the efficiency in the management of the supply chain causing reduction of loss due to mismanaged inventories.  The software even helps the enterprises in negotiating better deals and gaining feedbacks as it assists in observation of margin contribution and execution performance of each vendor. This software provides the retailers with add-on advantages by availing advanced logistics management, smart supplier management, data-driven inventory optimization and many other features.

The global retail inventory management software market is primarily driven by the need for maintaining transparency across supply chain activities and easy tracking of warehouse inventory. In addition, increased usage of RFID tags, barcode scanners, mobile devices and other wireless technologies is also reflecting favorably on the market.

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Market segmentation:

The global retail inventory management software market has been segmented based on deployment, end-users and region. On the basis of deployment, the market is segmented into on-demand and on-premise. On the basis of end-users, it is segmented into traditional retailers and off-price retailers. On the basis of region, the global retail inventory management software market is segmented into North America, Europe, Asia-pacific and the rest of the world.

Regional Analysis

North America currently leads the global retail inventory management software market due to the presence of major companies and organizations that are adopting the inventory management software in this region. Meanwhile, Asia Pacific market is expected to exhibit the fastest growth rate during the forecast period. The market in this region is primarily driven by the rapid adoption of cloud-based solutions across organizations owing to the growing need for asset tracking.

Competitive Analysis:

The proliferation of e-commerce is one of the major reasons for the increased competition among vendors, as every service provider is trying to align with the current consumer trends. The players in the global retail inventory management software market are aiming to capitalize on such opportunities by introducing innovative features to meet client demands. Oracle Corporation and IBM Corporation, as key players, offer packaged inventory management solutions where as other vendors, such as Kewill Systems, offer customizable modules of inventory management software. Some of the top companies currently operating in the global market for retail inventory management software include Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Netsuite (U.S.), inFlow Inventory Software (Canada), Totvs S.A (Brazil), Quintiq (Netherlands), Epicor Software Corporation (U.S.), Sage Group plc (U.K), Lawson Software (U.S.), Accellos (U.S.), Kinaxis (Canada), Manhattan Associates (U.S.), AP SE (Germany), JDA Software (U.S.), GTNexus (U.S.), Fishbowl (U.S.), Retalix Ltd (Israel), BluJay Solutions. (U.S.), Servigistics (U.S.), IBM Corporation (U.S.), Logility, Inc (U.S.), Aldata Software Management Inc (Canada), and Kewill Systems (U.S.).