Inventory Management Software Market Analysis 2024
Advanced radio frequency system (RFID) has attained remarkable traction in inventory management software market and businesses in different verticals are deploying the technology to facilitate better management of inventory in real-time. The technology aids in tracking the movement through every stage of the supply chain, right from the manufacturing unit to the point of sale, which ensures stock security and quality control. The advanced radio frequency system (RFID) segment is expected to achieve gains at a CAGR of 11% over 2018-2024.
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With the tremendous growth in the industrial, retail, and e-commerce sectors, inventory management software market has gained massive impetus over the past years. Quite undeniably, managing and tracking inventory has become an essential part of conducting business and inventory management software in this regard are efficiently solving the challenges related to vendors, inventory, orders, sale, stocks-outs and much more. This has significantly led to rapid adoption of these software programs, in turn driving inventory management software industry growth which was pegged at USD 2 billion.
Driven by these subsequent threats leading to inefficient inventory management, the demand for robust inventory management software for optimization is expected to increase consistently in the ensuing years. In fact, as per estimates, the global inventory management software market from inventory optimization application is expected to grow at a lucrative rate of 9% over 2018-2024.
The contribution of the industry participants in developing optimal inventory management systems is vast and these players are constantly looking for adopting new technologies that can improve the overall productivity. Recently for instance, HighJump, a global provider of supply chain solutions and renowned inventory management software market player has introduced HighJump Warehouse Control System integrated with the HighJump Warehouse Management System. This inventory management solution provides supply chain professionals with a comprehensive suite that can fully capitalize on the automated and connected warehouse operations the modern-day chain professionals are adapting to handle shorter delivery windows, e-commerce, and enhanced consumer expectations.
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Quite undeniably, these technologies have empowered the small and large-scale enterprises to grow and streamline their business models by harnessing the power of the advanced inventory solutions, in turn propelling the global inventory management software industry outlook. Lastly, it wouldn’t be wrong to say that along with shrinking workforce and increasing rate of stressed logistics systems, inventory management software programs will witness massive adoption in the ensuing years. The overall inventory management software market share to register a CAGR of 6% over 2018-2024.
Some Points From Table Of Content: –
Chapter 5. Inventory Management Software Market, By Type
5.1. Key trends, by type
5.2. Manually managed inventory system
5.2.1. Manually managed inventory system market estimates and forecast, by region, 2014-2024
5.3. Barcode scanning system
5.3.1. Barcode scanning system market estimates and forecast, by region, 2014-2024
5.4. Advanced Radio Frequency System (RFID)
5.4.1. Advanced Radio Frequency System (RFID) market estimates and forecast, by region, 2014-2024
Chapter 6. Inventory Management Software Market, By Application
6.1. Key trends, by application
6.2. Order management
6.2.1. Order management market estimates and forecast, by region, 2014-2024
6.3. Asset tracking
6.3.1. Asset tracking market estimates and forecast, by region, 2014-2024
6.4. Service management
6.4.1. Service management market estimates and forecast, by region, 2014-2024
6.5. Product differentiation
6.5.1. Product differentiation market estimates and forecast, by region, 2014-2024
6.6. Inventory optimization
6.6.1. Inventory optimization market estimates and forecast, by region, 2014-2024
Chapter 7. Inventory Management Software market, By Deployment Model
7.1. Key trends, by deployment model
7.2.1. On-premise market estimates and forecast, by region, 2014-2024
7.3.1. Cloud market estimates and forecast, by region, 2014-2024
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