Inventory Management Software Market to 2026 - Opportunity Analysis & Growth Insights Report

By Ronak Bora

The Inventory Management Software Market is projected to foresee tremendous revenue expansion due to the growing need for resolving risks linked to inventory management and also streamlining the overall inventory management process.
The inventory management software market size to exceed a $5 billion valuation by 2026. Today, several companies are increasingly adopting this software owing to the number of prominent benefits it offers. These systems provide better accuracy and efficiency in inventory management, enhanced data planning, and visibility, reduce extra stock as well as stock-ins in the inventory, and also offer better level of customer services. All these benefits are majorly encouraging retailers to integrate these software solutions and effectively enhance their operations.
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With regards to type, the inventory management software market segment is projected to witness substantial growth due to the increasing shift away from paper-based inventory management procedures. Industries are moving away from paper-based systems and adopting manually managed inventory systems since these systems helps companies in ordering as well as tracking functions for certain number of products. These systems manually get formulae from users for both complex and simple calculations associated with inventories, making the process much more simpler.
Consistent expansion of the retail sector and the development of enhanced software solutions are driving the Europe inventory management software market share. In fact, Europe is projected to hold a massive 25% market share of the overall industry by the end of the analysis time period. Enterprises are increasingly developing intuitive POS software solutions with effective inventory management capabilities.
Taking September 2019 for instance, Lightspeed, a renowned point of sale software solution provider reportedly unveiled the Lightspeed Retail 3.0. This advanced software includes features such as profile, sales history, and retail manager functionalities, which also includes inventory management capabilities. This product helped the firm to provide innovative inventory management software market solutions to SMEs in Europe.
Key market players are, in fact, increasingly launching new products to meet the tremendous demand being generated by the flourishing e-commerce industry. In fact, according to Amazon, one of the world’s most prominent e-commerce companies, approximately 1 million small businesses are selling on the Amazon platform. As more regions get access to digital platforms and technologies, more businesses are expected to come online, and as more businesses get such exposure, the inventory management software sector is expected to witness momentous demand as businesses focus on ensuring sustainable growth.
The competitive landscape of the global inventory management software market is inclusive of players such as Zoho Corporation, SAP SE, NCR Corporation, Microsoft Corporation, and Lightspeed among others.
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Table of Content
Chapter 5.    Inventory Management Software Market, By Type
5.1.    Key trends, by type
5.2.    Manually-managed inventory systems
5.2.1. Market estimates and forecast, 2015 – 2026
5.3.    Barcode scanning systems
5.3.1. Market estimates and forecast, 2015 – 2026
5.4.    Advanced Radio Frequency Identification Systems (RFID)
5.4.1. Market estimates and forecast, 2015 - 2026
Chapter 6.    Inventory Management Software Market, By Application
6.1.    Key trends, by application
6.2.    Order management
6.2.1. Market estimates and forecast, 2015 – 2026
6.3.    Asset tracking
6.3.1. Market estimates and forecast, 2015 – 2026
6.4.    Service management
6.4.1. Market estimates and forecast, 2015 – 2026
6.5.    Product differentiation
6.5.1. Market estimates and forecast, 2015 - 2026
6.6.    Inventory optimization
6.6.1. Market estimates and forecast, 2015 – 2026
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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