Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Global Inventory Management Software Market Size, Share & Industry Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
This report offers insights into enterprise type, deployment, end-use, application, and regional growth opportunities through the forecast period of 2023 to 2030. The report projects the market size to reach a value of $4.7 billion by 2030, propelled by a robust CAGR of 11.2%.
Integrating cutting-edge technologies such as scanning and barcoding has played a pivotal role in enhancing inventory tracking accuracy. This segment alone generated significant revenue in 2022, highlighting the crucial role of technology in streamlining inventory management processes. As companies vie for efficiency, mergers and acquisitions have become a strategic approach to incorporating innovative capabilities, as demonstrated by IBM Corporation's recent acquisition of Manta Software Inc.
In an in-depth Cardinal Matrix analysis, leading companies, notably Oracle Corporation, have been identified as market forerunners, underpinning the competitive landscape with advanced solutions like the enhancement of mobile capabilities in Oracle Fusion Cloud Inventory Management. The analysis brings forward key market participants, emphasizing their strategic efforts to align with the demands of various industries.
Driving Forces Behind Market Growth
The exponential surge in e-commerce platforms and technological advancements stand out as primary growth factors. With e-commerce platforms experiencing extensive expansion, inventory management systems (IMS) have become instrumental in automating order processing and achieving efficiency in fulfillment operations. Similarly, advancements such as cloud-based solutions contribute to the scalability, flexibility, and analytical prowess of IMS.
However, challenges such as the complexity of IMS configurations could potentially hinder market growth. This complexity may lead to increased implementation costs and a steeper learning curve for users, impacting overall market expansion.
Segmented Insights: Enterprise Type, Deployment, and End-Use
- The report segments the market into large enterprises and small & medium-sized enterprises (SMEs), with SMEs capturing a considerable market share in 2022, thanks to increasing online sales channels and flexible inventory management capabilities.
- When it comes to deployment, on-premises solutions continue to dominate the market, primarily due to their customization features and robust data security protocols.
- The retail & consumer goods sector within the end-use segment generated remarkable revenue in 2022, leveraging IMS for efficient SKU management and omnichannel retailing.
The market analysis spans various regions with North America maintaining the forefront position due to rapid technological adoption and the presence of market-leading players.
Renowned companies profiled in the report include Big Name Tech Firms and Emerging Innovators in the Inventory Management Software Market. These companies' continuous efforts in innovation, partnerships, and strategic market consolidation attest to the vibrant competitive landscape.
Report Coverage and Strategic Developments
The report offers exhaustive coverage of the market, analyzing key stakeholder strategies and profiling prominent companies. The strategic developments detailed in the report include an array of collaborations, product launches, and acquisitions, such as:
- IBM Corporation's partnership with Amazon Web Services to cater to the cloud database sector.
- Intuit Inc.'s incorporation of e-commerce features into QuickBooks Online to support inventory management.
- Fishbowl Inventory's strategic acquisition of Red Salt to strengthen its presence in key markets.
These developments signal the vital role of strategic initiatives in catering to evolving market demands and fostering innovation.
As the global economy continues to digitalize, the need for efficient inventory management across industries is clear, and the details encapsulated in this comprehensive market research report forecast a dynamic growth trajectory for the Inventory Management Software Market through the end of the decade.
Companies Mentioned
- Zoho Corporation Pvt. Ltd.
- IBM Corporation
- Oracle Corporation
- Lightspeed Commerce Inc.
- CIN7 Limited
- Linnworks
- Intuit Inc.
- Acumatica, Inc.
- Fishbowl Inventory
- Brightpearl (Sage Group plc)
For more information about this report visit https://www.researchandmarkets.com/r/8fzwel
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