Home > Media & Technology > Information Technology > IT Software > Inventory Management Software Market

Inventory Management Software Market Trends

Report ID: GMI2364
Published Date: Dec 2024
Report Format: PDF

Download Free Sample

Inventory Management Software Market Trends

The integration of advanced technologies such as IoT, AI, and machine learning is also gaining traction, enabling businesses to automate inventory tracking, predict demand fluctuations, and optimize order management processes. Businesses are increasingly recognizing the advantages of on-premises deployment, which offers enhanced security, greater control over data, and the ability to customize solutions according to specific operational needs.

For instance, in July 2024, BFC Software announced its acquisition of Herlitz Inventory Management, combining their expertise to provide a comprehensive operations platform tailored specifically for food distributors across North America. This acquisition exemplifies the trend towards consolidation in the market, as companies strive to enhance their offerings and cater to niche sectors.

The increasing focus on sustainability and waste reduction presents a significant opportunity within the inventory management software market. Organizations are under growing pressure to minimize excess inventory and reduce environmental impact. By leveraging data analytics capabilities, companies can better forecast demand, optimize stock levels, and ensure more efficient use of resources. The introduction of solutions that support sustainable inventory practices can enhance brand reputation and compliance with environmental regulations, creating new avenues for growth.

Moreover, the inventory management software market faces several challenges such as high costs associated with software implementation and integration of new software with legacy systems. Smaller businesses often struggle with the upfront investment required for complex inventory management systems, which hamper their ability to compete effectively in an increasingly digital marketplace. Furthermore, the integration of new software with legacy systems can lead to operational disruptions and data inconsistencies, thus hindering market growth.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of inventory management software reached USD 3.9 billion in 2024 and is set to grow at a 6.4% CAGR from 2025 to 2034, driven by the increasing need for real-time inventory visibility and operational efficiency.

The order management segment is expected to grow at a CAGR of over 4% from 2025 to 2034, fueled by the rising demand for streamlined order processing and fulfillment.

The North America market accounted for over 40% of the global share in 2024, led by the adoption of advanced technology solutions and the increasing focus on automation and data analytics.

The key players in the market include International Business Machines (IBM), Intuit, Manhattan Associates, Microsoft, Monday.com, NCR, Oracle, Sage Group, SAP SE, and Zoho.