Global Inventory Management Software Market in the Retail Sector 2016-2020

Overview of the global inventory management software market in the retail sector

Market research analysts at Technavio have predicted that the global inventory management software market in the retail sector will grow steadily during the predicted period and will post a CAGR of more than 8% by 2020. The growing adoption of mobile devices, such as smartphones and tablets and the rising popularity of mobile commerce are driving the growth of the e-commerce industry. Several retailers have started replacing their physical stores with the online stores. Technological advances will lead to the Internet becoming more predominant and secure, which in turn, will result in an increasing number of online shoppers. To gain a competitive benefit over their competitors, retailers will have the need to achieve real-time efficiency and will be compelled to adopt inventory tracking software, which will be a major growth factor for the market in the coming years.

The increasing adoption of RFID technology is considered to be one of the major trends that will gain traction in the inventory software market in the next few years. Built on wireless technology, the RFID system can be used diverse purposes such as tracking objects and automatic identification. In addition to collecting real-time information about the status of ordered goods to customers and retailers, the RFID system will also help in minimizing the cost of operations by reducing the delivery time.

Competitive landscape and key vendors

Due to the presence of several multinational vendors, this market appears highly fragmented. Several vendors have established a significant presence in the market, and the market is mainly dominated by key vendors like Epicor, Oracle, SAP, Microsoft, and JDA Software. The high demand for the software for inventory management among retailers has intensified the competition among vendors. Also, the coming years will also witness the established vendors acquiring smaller vendors to expand their product portfolio and to increase their share of the market. This will also help them in entering new markets.

The leading vendors in the market are -

• Epicor
• Oracle
• SAP
• Microsoft
• JDA Software

The other prominent vendors in the market are Accellos, Aldata Software Management, Descartes, GTNexus, IBM, IBS, Kewill Systems, Kinaxis, Lawson Software, Logility, Manhattan Associates, Quintiq, RedPrairie, Retalix, Servigistics, and Totvs.

Segmentation by deployment type and analysis of the inventory management software market in the retail sector

• Cloud
• On-premises

During 2015, the on-premises market segment accounted for about 75% of the total market share and dominated the inventory system software market. Though businesses have complete control over their critical data using the on-premises model, they have to incur additional expenses to monitor, maintain, and upgrade the software. Whereas, the total deployment cost of the cloud services is much low. As a result, this market segment will witness a decline in its share of the market during the predicted period.

Geographical segmentation and analysis of the inventory management software market in the retail sector

• Americas
• APAC
• EMEA

This market study estimates that the in terms of geography, the Americas will account for major revenue shares of the global inventory management system software market in the retail sector and will also post a revenue of almost USD 394 million by 2020. This mainly attributes to the fact that the market in this region is driven by the strong presence of global retailers who are in the need for effective inventory management solutions.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global inventory management software market in the retail sector?
• What are the key market trends impacting the growth of the global inventory management software market in the retail sector?
• What are the challenges to market growth?
• Who are the key vendors in the global inventory management software market in the retail sector?
• What are the market opportunities and threats faced by the vendors in the global inventory management software market in the retail sector?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global inventory management software market in the retail sector?

Technavio also offers customization on reports based on specific client requirement.

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Inventory management is a component of warehouse management system (WMS) which aids in optimizing the management and storage of final products in a warehouse. It is also an integral part of the supply chain management (SCM) in enterprises. WMS solutions manage the inbound and outbound logistics and warehousing of raw materials from the supplier to the manufacturing site and also handle the supply of the finished goods to end-customers. The operational efficiency of retail services has necessitated the use of inventory management software. ASC, BFC, and Oracle will be some of the prominent vendors in this market space.

The report, global inventory management software market in the retail sector, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.