Distribution Inventory Management Software Market 2019
In 2018, the global market for distribution inventory management software was $2.1 billion and is expected to reach around $3.2 billion by 2025, growing slightly above 6.1% CAGR between 2019 and 2025. Distribution inventory management software plays a crucial role in today’s business plans as it monitors and documents inventories and contributes significantly to the growth of a company by delivering consumer demand-related information.
One of the major factors driving market growth is the growing popularity of cloud-based solutions that offer superior benefits over conventional on-site applications in terms of cost, visibility, and maintenance. In addition, it is also anticipated that the emergence of e-commerce and increasing preference for multi-channel retailing will have a positive impact on market growth. The need for coordinated and immediate data on items to be delivered to the consumer drives the use of distribution inventory management software.
The following key manufacturers covered in this report
The distribution inventory management software helps in managing, controlling, and tracking inventory, regardless of its location and time. Generally, large MNCs manufacturing plants are connected via wireless networks and operate in remote locations. Also driving the distribution inventory management software market is the globally increasing demand for inventory tracking solutions. To some degree, the high initial installation costs can impede the demand for distribution inventory management software. Data security is one of the major concerns for vendors, as the software carries critical consumer, service, and engineering data.
The distribution inventory management software market is segmented based on product, deployment, organization size, application, and vertical. Based on deployment method, the market is categorized into on-premise and on-demand or cloud-based software solutions. The product segment includes an advanced radio frequency system, manually managed inventory system, and barcode scanning system. The organization size segment includes large enterprises and small and medium enterprises. By application, the market comprises service management, order management, asset tracking, product differentiation, and inventory optimization. The vertical segment includes retail, healthcare, automotive, manufacturing, oil and gas, and others.
The geographical distribution of the distribution inventory management software market covers regions like North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. North America (especially Canada and the US) is expected to dominate the inventory management software market globally due to the rising need for integrated real-time inventory data management, the increasing need for inventory streamlining, and the strong regional presence of firms engaged in market-related business.
It is predicted that Europe will see tremendous growth. Due to the regional dominance of the automotive, aerospace and transportation industries, the region is experiencing growing adoption of asset-tracking technologies. Distribution inventory management software help companies control expendable product stocks through different environments which drive this regional market.
The emerging Asian economies are benefiting from increasing awareness of automated tools at the workplace. The growing popularity of e-commerce and increasing digitalization is also driving the market. Because of the booming retail industry, India and China are seeing a major emergence of new market entrants.
Latest industry news
Connected devices are among the trends in the distribution inventory management software market.
Table of Contents –Analysis of Key Points
1 Distribution Inventory Management Software Market Overview
2 Manufacturers Profiles
3 Global Distribution Inventory Management Software Market Competition, by Players
4 Global Distribution Inventory Management Software Market Size by Regions
5 North America Distribution Inventory Management Software Revenue by Countries
6 Europe Distribution Inventory Management Software Revenue by Countries
7 Asia-Pacific Distribution Inventory Management Software Revenue by Countries
8 South America Distribution Inventory Management Software Revenue by Countries
9 Middle East and Africa Revenue Distribution Inventory Management Software by Countries
10 Global Distribution Inventory Management Software Market Segment by Type
11 Global Distribution Inventory Management Software Market Segment by Application
12 Global Distribution Inventory Management Software Market Size Forecast (2019-2025)
13 Research Findings and Conclusion
List of Tables and Figures
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