Inventory Optimization Software and Services Market Scope
Inventory optimization means to control and optimize inventory levels across the different warehouse locations. Inventory optimization software and service help businesses to keep track of inventory and materials and analyze the items and quantities to automatically generate stock reordering if required. It is integrated with the ERP system to reduce data entry requirements, improve marketing decisions, and accurate business planning and forecasting.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Smart Software (United States), IBM (United States), Oracle Corporation (United States), ToolsGroup (United States), anyLogistix (United States), GEP (United States), Zoho Corporation (India) and Anaplan (United States) |
CAGR | 14.4% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Inventory Optimization Software and Services market throughout the predicted period.
Smart Software (United States), IBM (United States), Oracle Corporation (United States), ToolsGroup (United States), anyLogistix (United States), GEP (United States), Zoho Corporation (India) and Anaplan (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are SAP (Germany) and EazyStock (Syncron) (Sweden).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Inventory Optimization Software and Services market by Type and Region with country level break-up.
On the basis of geography, the market of Inventory Optimization Software and Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023,Shipsy, a leading logistics Software as a Service (SaaS) provider, has completed the acquisition of Stockone, a cloud-based Warehouse Management System (WMS) and inventory management solution provider, to expand its product portfolio
In January, 2024 Tools Group, a global leader in retail and supply chain planning and optimization software, today announced the launch of their In-Season Inventory Optimization Solution, an integrated suite of tools in the greater JustEnough retail planning and execution suite.
Influencing Trend:
The Application of AI-driven Solutions and Advanced Modeling for Inventory Optimization
Market Growth Drivers:
Increasing Use of Inventory Optimization Software to Track Inventory and Boost Turnover and Need for Advanced Solutions to Avoid Stock-outs and Excess of Stock
Challenges:
Some of the Software Is Not Ideal for Brick-And-Mortar Retail Businesses
Restraints:
High Cost Associated With Software Upgradation and Lack of Internet Connectivity
Opportunities:
Rapidly growing E-commerce Sector Due to Consumers’ Change in Preferences
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Inventory Optimization Software & Services Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others