Overview:

Growing popularity of cloud-based solutions that offer superior benefits over traditional on-premise solutions in terms of cost, visibility, and maintenance is one of the major factors driving market growth. The growing preference for cloud-based inventory management solutions is expected to trigger the replacement of conventional on-premise solutions, thereby driving fresh installations. Furthermore, proliferation of e-commerce and growing preference for multi-channel retailing is also expected to have positive impact on the market growth. Need for synchronized and instantaneous information about products that needs to be shipped to the customer is influencing adoption of inventory management software amongst retailers. These factors are expected to contribute towards a 7.6% compounded annual growth rate (CAGR) during the forecast period 2016 – 2023. However, high upfront costs coupled with data security and consumer privacy are some of factors posing challenge to the market growth.

Report Scope

This report analyzes the global retail inventory management software market in terms of deployment model, end-users, and geography. Based on deployment method, the global retail inventory management software market is categorized into on-premise and on-demand or cloud-based software solutions. Similarly, on the basis of end-use application, the global market for retail inventory management software is further classified into traditional retailers and off-price retailers. The geographical distribution of the global retail inventory management software market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Retail Inventory Management Software Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the retail inventory management software market.

1.1.1   Target Audience

• Industry Investors
• Inventory Management Software Solution Providers
• Distributors
• End-users

1.1.2   USP and Key Offerings

The report titled “Global Retail Inventory Management Software Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global retail inventory management software market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on deployment, end-use application, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the key industry participants, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and recent developments. Other in-depth analysis provided in the report includes:

• An overview of the global retail inventory management software market
• Current and future market trends to justify the forthcoming attractive sub-markets within the inventory management software industry
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the global retail inventory management software market
• Market competition scrutiny tools such as market share analysis, fractal map, etc.
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global retail inventory management software market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above mentioned factors.

Based on deployment type, the global inventory management software market for retail applications is segmented into following categories

• On-premise solutions
• On-demand or Hosted solutions 

In the base year 2015, on-premise inventory management solutions led the overall inventory management software market for retail applications. The revenue share of on-premise solutions stood at around 75% of the global market revenue in the same year. Although retailers have begun favoring cloud-based prototypes, the bigger and established retailers are still heavily reliant on on-premise software installations. Established retailers are still favoring on-premise solutions since the on-premise deployment model allows them to have superior control over their critical business information. On the contrary, additional cost required for monitoring, managing, and upgrading the software in the on-premise model is expected to lead more and more retailers towards adopting cloud-based inventory management solutions in the coming years. Low upfront cost and easy maintenance coupled with the low entry barriers has been enabling adoption of cloud-based solutions amongst retailers. In view of these benefits, retailers across the globe are becoming less interested in implementing software solution and have become more skewed towards changing their operation models.

As of 2015, North America (comprising U.S. and Canada) was the largest retail inventory management software market worldwide followed by Europe and Asia Pacific respectively. The region accounted for over 35% of the global market revenue in the same year. The U.S. represents the largest individual retail inventory management software market worldwide. The trend shall prolong as the region is presumed to remain the largest revenue contributor over the forecast period 2016 – 2023. The growth in the region is majorly on account of the presence of large base of established retailers focusing on effective inventory tracking and management. With the explosion of e-commerce and prevailing trend towards omni-channel distribution, retailers are required to ensure inventory management and tracking, thereby stimulating the market demand.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Retail Inventory Management Software market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Retail Inventory Management Software market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Retail Inventory Management Software market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Retail Inventory Management Software market?
• Which is the largest regional market for Retail Inventory Management Software market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Retail Inventory Management Software market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Retail Inventory Management Software market worldwide?