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How has the retail inventory management software market evolved, and where is it heading next?
The retail inventory management software market size has grown rapidly in recent years. It will grow from $8.37 billion in 2024 to $9.45 billion in 2025 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to the increasing number of e-commerce retailers, globalization of supply chains, rising customer expectations, competition, and market differentiation, and increasing product complexity.
The retail inventory management software market size is expected to see rapid growth in the next few years. It will grow to $15.22 billion in 2029 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to the shift towards cloud-based solutions, growing emphasis on inventory visibility, demand for real-time data, and the rise of omnichannel retailing. Major trends in the forecast period include the adoption of advanced analytics and artificial intelligence (AI), enhanced integration capabilities, sustainability and green practices, mobile accessibility, and IoT integration.
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What have been the primary factors driving the retail inventory management software market’s growth?
The expansion of e-commerce is expected to propel the growth of the retail inventory management software market going forward. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The expansion of e-commerce is due to expanding internet access and shifting consumer preferences towards online shopping. Retail inventory management software in e-commerce streamlines stock control, order fulfillment, and inventory synchronization across online platforms, ensuring efficient operations and customer satisfaction. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, e-commerce sales reached $1,118.7 billion in 2023, a 7.6% increase from 2022. Therefore, the expansion of e-commerce is driving the growth of the retail inventory management software market.
What are the key segments within the retail inventory management software market?
The retail inventory management software market covered in this report is segmented –
1) By Type: Manually Managed Inventory Systems, Barcode Scanning Systems, Advanced Radio Frequency Systems (RFID)
2) By Deployment: On-Demand, On-Premise
3) By Pricing: Subscription, One-Time Payment
4) By Application: Order Management, Asset Tracking, Service Management, Product Differentiation, Inventory Optimization
5) By End-User: Traditional Retailers, Off-Price Retailers
Subsegments:
1) By Manually Managed Inventory Systems: Spreadsheet-Based Systems, Basic Inventory Software, Barcode Scanning Systems
2) By Barcode Scanning Systems: Handheld Barcode Scanners, Fixed Barcode Scanners, Mobile Barcode Scanners
3) By Advanced Radio Frequency Systems (RFID): Passive RFID Systems, Active RFID Systems, Semi-Passive RFID Systems
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Which key players are shaping the retail inventory management software market?
Major companies operating in the retail inventory management software market are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Infosys Limited, Square Inc., Dassault Systèmes, Sage Group plc, Lawson Software, Epicor Software Corporation, Zoho Corporation, Manhattan Associates, Lightspeed Retail, Kinaxis Inc., Kewill Systems, Retalix Ltd., BluJay Solutions, Retail Pro International, Logility Inc., Brightpearl Limited, Wasp Barcode Technologies, InFlow Inventory Software, HighJump, Fishbowl, Aldata Software Management Inc., Ordoro
How will emerging trends drive the retail inventory management software market throughout the forecast period?
Major companies operating in the retail inventory management software market are increasing their focus on developing innovative products, such as ItemOptix, to gain a competitive edge in the market. ItemOptix is a next-generation radio-frequency identification inventory management software for retailers that improves inventory visibility and reduces out-of-stock situations, helps retailers enhance operational efficiency, and improves the shopper’s experience. For instance, in December 2023, Checkpoint Systems, a US-based software company, launched the next-generation RFID (radio-frequency identification) inventory management software ItemOptix for Retail. This software enables retailers to manage their inventory from source to shop effectively. The software has self-service functionalities that make the initial setup and ongoing system maintenance quick and straightforward. Additionally, the software has industry-standard REST APIs that allow for swift and easy integration processes. This streamlined deployment gives users more control over inventory management, providing a seamless experience.
How do regional factors impact the retail inventory management software market, and which region is the largest contributor?
North America was the largest region in the retail inventory management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail inventory management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Retail Inventory Management Software Market Report 2025 Offer?
The retail inventory management software market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Retail inventory management software is a digital tool that helps businesses track and manage their inventory levels efficiently. It includes inventory tracking, stock monitoring, order management, and integration with other systems. Retail inventory management software’s primary goal is to streamline inventory processes, reduce costs, and improve operational efficiency in retail businesses.
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