Inventory Management Software Market to witness 6% CAGR till 2024

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Inventory Management Software Market to reach USD
3 billion by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Inventory Management Software
Market

• Inventory Management Software Market was
  estimated at over USD 2 billion in 2017, and is
  set to exceed USD 3 billion by 2024 according to
  a new research report by Global Market Insights,
  Inc. The inventory management software market
  growth is attributed to the rapidly growing
  global e-commerce landscape, retailers
  emphasizing on offering omnichannel shopping
  experience to their customers, and the increasing
  manufacturing output due to the adoption of
  Industrial IoT (IIoT).
• Inadequate supply of inventory may grind
  manufacturing operations into a halt. On the
  other hand, the excessive supply of inventory can
  cripple an organizations cash flow and pose a
  threat to its liquidity position. Either way,
  inefficient inventory management in manufacturing
  organizations can create serious challenges for
  the productivity of the companies. Hence, the
  demand for robust inventory management solutions
  in the manufacturing sector is expected to
  increase consistently over the forecast timeline.

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Continued...

• The advanced radio frequency system (RFID)
  segment in inventory management software market
  is projected to register an accelerated growth
  during the forecast timeline with an impressive
  CAGR of around 11. The technology allows supply
  chain managers to identify individual products
  and components and to track the movement of the
  inventory throughout the supply chain right from
  the manufacturing unit to the point-of-sale. The
  systems are used for ensuring stock security,
  quality control, and for the prevention of
  over-stocking or under-stocking of products.
• The inventory optimization application is
  anticipated to exhibit a lucrative growth at a
  CAGR of over 9 between 2018 and 2024. Inventory
  management systems enable effective inventory
  optimization by allowing organizations to reduce
  inventory by a considerable percentage to free up
  working capital from unnecessary inventory
  buffers. This also facilitates reduced inventory
  carrying costs and increased customer service
  performance.

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North America Inventory Management Software
Market Share, By Type, 2017 2024 (USD Million)

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Continued...

• The cloud model is projected to acquire a
  inventory management software market share of
  over 35 by 2024. The market growth is
  characterized by increasing awareness regarding
  the benefits of scalability, flexibility, and
  enhanced security offered by cloud platforms.
  SMBs can save significant costs on capital
  investments by opting for cloud-based inventory
  management software without the need for
  procuring dedicated hardware and software
  resources. Also, cloud providers offer
  pay-as-you-go services to their customers,
  allowing them to scale their usage of inventory
  management systems dynamically with respect to
  the changing market demands.
• The large organization market is projected to
  register an impressive growth over the forecast
  timeline with a CAGR of over 8. Large
  enterprises invest significant resources in
  inventory management systems to ensure
  uninterrupted supply of inventory throughout the
  supply chain for avoiding any production or
  distribution losses. The solutions enable such
  businesses with large volumes of inventory to
  efficiently track the products at every stage.

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Continued...

• Asia Pacific inventory management software market
  is projected to register an excellent growth with
  a CAGR of around 10 between 2018 and 2024. This
  growth can be attributed to a rapidly evolving
  e-commerce ecosystem along with heavy investments
  from venture capitalists to leverage the growing
  demand for online marketplaces. In 2017-2018, the
  retail shrinkage as a percentage of sales in the
  Asia Pacific region was estimated at around
  1.75, amounting to nearly USD 24 billion. To
  tackle the growing concerns related to the
  inventory shrinkage, the uptake of inventory
  management software in the region is expected to
  grow consistently over the forecast timeline.
• Some of the key players operating in the
  inventory management software market are Ordoro,
  Fishbowl, Zoho, Oracle, Microsoft, SAP, Stitch
  Labs, Dapulse (Monday.com), Dearinventory,
  Brightperal, TradeGecko, Orderhive, Handifox,
  Veeqo, SkuVault, Megaventory, Wasp Barcode
  Technologies, Acctivate, Sage, Manhattan
  Associates, and KCSI.

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Industry Coverage

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Table OF Content
Chapter 1. Methodology Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Scope 1.1.5. Definition 1.1.6.
Methodology and forecast parameters 1.2. Data
Sources 1.2.1. Primary 1.2.2. Secondary 1.2.2.1.
Paid sources 1.2.2.2. Public sources Chapter
2. Executive Summary 2.1. Inventory management
software industry 360º synopsis, 2014 -
2024 2.1.1. Region trends 2.1.2. Type
trends 2.1.3. Application trends 2.1.4.
Deployment model trends 2.1.5. Organization trends
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