Retail Inventory Management Software Market Size, Share, Growth, Trends, Analysis and Forecast To 2023

According to a new market report published by Credence Research, Inc., “Retail Inventory Management Software Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the global inventory management software market for retail applications is expected to grow at a compound annual growth rate of 7.6 percent during the 2016-2023 forecast period.

Product Insights

Inventory management software helps retailers effectively organize and manage inventories, purchases of goods, sales and deliveries of products. It provides a platform for retailers to track the important shipment and inventory data, including volume and location, supplier records, etc. The software also helps retailers perform asset compliance audits and generate reports & custom alerts by integrating RFID and other wireless tracking technologies into their day-to-day inventory tracking efforts. Retailers often use inventory management software to ensure that the focus is on understanding, identifying and minimizing inefficiencies in managing inventories between locations. With advancements in technology and integration capabilities, inventory management software is quickly becoming an integral part of retail business processes.

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Competitive Insights:

The global retail inventory management software market is highly competitive and fragmented. The top 4 leading vendors account for less than 45% of the global market revenue share. It is requisite for inventory management software vendors to realize the unique requirements of traditional and off-price retailers and develop software accordingly. SAP SE (Germany), Oracle Corporation (the U.S.), Epicor Software Corporation (the U.S.), Microsoft Corporation (the U.S.), and JDA Software Group, Inc. (the U.S.) are identified as market leaders in the global retail inventory management system market for the base year 2015. Other promising and emerging players identified in the global retail inventory management system market include Manhattan Associates Inc., Descartes Systems Group, Inc., Aldata Software Management Inc., Retalix Ltd., Lawson Software, and Quintiq among others. The global retail inventory management software market is also characterized by the presence of a large number of niche players holding trivial market shares individually. Since the retail inventory management software market is technology-driven, the degree of competition among vendors is high and is only expected to intensify in the coming years.

Key Trends:

  • Growing demand for cloud-based retail inventory management software solutions
  • The proliferation of e-commerce and growth of multi-channel retailing
  • Need to address supply chain inefficiencies through transparency and real-time tracking
  • Integration of the RFID technology
  • The positive impact of the introduction of automatic store replenishment systems

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List of Companies Covered:

  • IBM Corporation
  • SAP SE
  • Microsoft Corporation
  • Epicor Software Corporation
  • JDA Software Group, Inc.
  • Oracle Corporation
  • Aldata Software Management, Inc.
  • Descartes Systems Group
  • Manhattan Associates, Inc.
  • Retalix Ltd.
  • Lawson Software
  • Quintiq

Market Segmentation

By Development Type

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

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

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