Inventory Management Software Market: Industry Growth, Size, Manufacturers and Forecast to 2025

Posted on 27th Sep 2018

Article By: 360 Market Updates

“This report studies the Inventory Management Software market.
Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets.

Based on deployment type, cloud-based inventory management software is leading the market, with over 70% market share in 2017, which will keep growing. The software is used in many industries, especially for retail, manufacturing and healthcare industry, as companies in these industries are often dealing with large amounts of physical products. Based on business size, SMEs are the major customer of inventory management software, with around 74% market share.
North America is expected to dominate the inventory management software market owing to increasing need for synchronize real-time inventory data management, with about 44.18% market share in 2017. Further countries such as U.S and Canada is anticipated to witness increase in demand for inventory management software market. Europe has acquired the second largest market share and is expected to show a decent growth in the inventory management software market. Asia Pacific region is expected to show significant growth during the forecast period. There are various new entrants in India and China that are developing the related software for inventory management.

In 2017, The Global Inventory Management Software market size was 1970 million US$ and it is expected to reach 3610 million US$ by the end of 2025, with a CAGR of 7.9% during 2018-2025.“