Inventory Management Software Market Scope
Inventory management software helps in tracking inventory, orders, sales and deliveries. It creates the bill of materials, work order and other documents. There are three main areas of concern for inventory management. These includes Acquisition, Redeployment, and Termination. Moreover, due to the increase in data, small as well as large enterprises are looking to implement inventory management systems. In addition, inventory management system provides the up to date information, and financial records. The data is easily accessed with one click and safe storage is provided.
According to AMA, the Global Inventory Management Software market is expected to see growth rate of 5.8%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Inventory Management Software market throughout the predicted period.
TradeGecko (Singapore), Zoho Inventory (United States), InFlow Inventory Software (United States), Wasp Barcode Technologies (United States), Orderhive (United States), SAP (Germany), Oracle (United States), Clear Spider (United States), TrackVia (United States) and JDA Software (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Epicor (United States), NetSuite (United States) and Fishbowl (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Inventory Management Software market , by Application (Service Management, Asset Tracking, Order Management, Inventory Optimization and Product Differentiation) and Region with country level break-up.
On the basis of geography, the market of Inventory Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In July 2018, JDA software has agreed to acquire Blue Yonder which provides AI solutions for Retail. This acquisition helps in accelerating customer’s digital transformation.
In June 2019, Projx360 has launched new inventory management solution. It includes end to end SaaS management solution for custom integration industry.
Market Trend
- Technological Advancements are increasing the Demand of Inventory Management System
Market Drivers
- Increasing stock items are driving the market growth. Increasing retail stores and e commerce industry is leading to increase in stock storage. In addition increasing warehouses is further contributing towards the necessity for implementation of inventory management system.
Opportunities
- Increasing E Commerce Industry is Boosting the Market
- Growing Demand of Inventory Tracking Solution
Restraints
- High Costs Associated with Implementation of Software
Challenges
- Lack of Skilled Labours may Hamper the Market Growth
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations