PUBLISHER: The Business Research Company | PRODUCT CODE: 1694914
PUBLISHER: The Business Research Company | PRODUCT CODE: 1694914
Retail inventory management software serves as a digital solution for businesses to efficiently track and oversee their inventory levels. It encompasses features such as inventory tracking, stock monitoring, order management, and integration with other business systems. The primary objective of retail inventory management software is to streamline inventory processes, minimize costs, and enhance operational efficiency within retail enterprises.
The main types of retail inventory management software include manually managed inventory systems, barcode scanning systems, and advanced radio frequency systems (RFID). Manually managed inventory systems denote traditional approaches to tracking and controlling inventory levels without automated software or technology assistance. This software can be deployed via on-demand or on-premise models and is available at various price points, including subscription-based and one-time payment options. Its applications span order management, asset tracking, service management, product differentiation, and inventory optimization. End-users of retail inventory management software include traditional retailers and off-price retailers alike.
The retail inventory management software market research report is one of a series of new reports from The Business Research Company that provides retail inventory management software market statistics, including retail inventory management software industry global market size, regional shares, competitors with a retail inventory management software market share, detailed retail inventory management software market segments, market trends and opportunities, and any further data you may need to thrive in the retail inventory management software industry. This retail inventory management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The retail inventory management software market size has grown rapidly in recent years. It will grow from $8.37 billion in 2024 to $9.45 billion in 2025 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to the increasing number of e-commerce retailers, globalization of supply chains, rising customer expectations, competition, and market differentiation, and increasing product complexity.
The retail inventory management software market size is expected to see rapid growth in the next few years. It will grow to $15.22 billion in 2029 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to the shift towards cloud-based solutions, growing emphasis on inventory visibility, demand for real-time data, and the rise of omnichannel retailing. Major trends in the forecast period include the adoption of advanced analytics and artificial intelligence (AI), enhanced integration capabilities, sustainability and green practices, mobile accessibility, and IoT integration.
The retail inventory management software market is poised for significant growth, driven by the expanding reach of e-commerce. E-commerce, an online business model facilitating the exchange of goods and services over the Internet, is experiencing rapid expansion due to increased internet accessibility and changing consumer preferences favoring online shopping. Within the realm of e-commerce, retail inventory management software plays a crucial role in streamlining stock control, order fulfillment, and inventory synchronization across various online platforms, thereby ensuring operational efficiency and customer satisfaction. For instance, in February 2024, the United States Census Bureau reported that e-commerce sales surged to $1,118.7 billion in 2023, marking a notable 7.6% increase from the previous year. Consequently, the burgeoning e-commerce landscape serves as a key driver behind the growth trajectory of the retail inventory management software market.
Leading players in the retail inventory management software market are intensifying their efforts to develop innovative solutions such as ItemOptix to maintain a competitive advantage. ItemOptix represents a cutting-edge radio-frequency identification (RFID) inventory management software tailored for retailers, enhancing inventory visibility, reducing out-of-stock scenarios, optimizing operational efficiency, and enhancing the overall shopping experience. For example, in December 2023, Checkpoint Systems, a US-based software company, introduced ItemOptix for Retail, the next-generation RFID inventory management software. This solution empowers retailers to effectively manage their inventory from source to shop, featuring self-service functionalities for quick and straightforward setup and ongoing system maintenance. Moreover, the software incorporates industry-standard REST APIs, facilitating seamless integration processes and providing users with greater control over inventory management for a seamless operational experience.
In June 2022, ToolsGroup, a US-based software company, completed the acquisition of Onera, enhancing its retail platform capabilities from planning to execution. This strategic acquisition enables ToolsGroup to offer retailers vital visibility into inventory and sophisticated solutions to tackle complex supply chain challenges effectively. Onera, a US-based software development company, specializes in delivering real-time inventory availability and fulfillment software solutions to retailers, aligning with ToolsGroup's mission to provide comprehensive solutions across the retail supply chain.
Major companies operating in the retail inventory management software market are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Infosys Limited, Square Inc., Dassault Systemes, Sage Group plc, Lawson Software, Epicor Software Corporation, Zoho Corporation, Manhattan Associates, Lightspeed Retail, Kinaxis Inc., Kewill Systems, Retalix Ltd., BluJay Solutions, Retail Pro International, Logility Inc., Brightpearl Limited, Wasp Barcode Technologies, InFlow Inventory Software, HighJump, Fishbowl, Aldata Software Management Inc., Ordoro
North America was the largest region in the retail inventory management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail inventory management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the retail inventory management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retail inventory management software market includes revenues earned by entities by providing services such as warehouse management, order management, replenishment, reporting, and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Retail Inventory Management Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on retail inventory management software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for retail inventory management software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retail inventory management software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.