The size of the inventory management software market exceeds US$3 billion in 2019. From 2020 to 2026, the compound annual growth rate (CAGR) is estimated to exceed 5%.
Global Inventory Management Software Market: Overview
The evolving e-commerce industry and popular technological developments are bringing enormous potential to solution providers worldwide. The solutions provided by companies can reduce the time consumed in monitoring and managing company assets. One solution in particular the inventory management software is currently gaining major traction these days. This is due to the growing trend of online shopping and online rental services. These industries rely heavily on inventory, so monitoring is critical. Due to these requirements, the global inventory management software market is growing rapidly in the forecast period from 2019 to 2026.
Global Inventory Management Software Market: Notable Developments
In the next few years, the global inventory management software market will have fierce competition. This is because of the emergence of various players providing solutions integrated with technologies that can transform the field of inventory management.
The inventory management software market players are focusing on upgrading capabilities and features of their inventory management software to gain a competitive advantage over other market players.
- In June 2018, Oracle Corporation launched a series of enhancements in its cloud-based warehouse management software to aid e-commerce companies in reducing their inventory costs and improving customer service. This enhancement helped the company to strengthen its market position in the market.
- In January 2018, Infor launched a next-generation Supply Chain Management (SCM) solution to help companies gain real-time visibility and control over their global supply chain. Advanced technologies integrates this new solution, such as predictive ETAs, real-time visibility and 3D visualisation of warehouse flow, which can help store holders to efficiently manage inventory.
- In January 2017, OneView Commerce, a provider of digital store transformation, integrated its inventory management solution with IBM’s Watson Commerce Insights. Through this integration, users will be able to get real-time analytics about inventory operations.
Inventory Management Market Classification
By type, the market is segmented into:
By application, the market is divided into:
- For Large Businesses
By geography, usually inventory management software market is being considered by the following areas:
- Nоrth Аmеrіса
- Lаtіn Аmеrіса
- Міddlе Еаѕt
In conclusion , there are a lot of inventory management softwares available in the market. If you want to choose best software for your business take the demo of that software first and view other users reviews about that software.