In Store Inventory Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Visibility of in store inventory has always been a black hole for the supply chain in retail sector. While manufacturing brands as well as retailers have already bet on multiple combinations involving cameras, robots, smart shelf technologies, and others for effective in store inventory management, there is always a room for brittleness and inaccuracy, in addition to the longstanding challenge of a high price point.
Brick-and-mortar stores aspiring high operational efficiency are thus rapidly shifting to modern in store inventory management practices that complement the evolving demands of today’s omnichannel marketplace. These trends are likely to influence the growth of in store inventory management market.
Spiking Investments in Technological Integrations Are Governing Competitive Landscape of In Store Inventory Management Market
In a highly fragmented competitive landscape of global in store inventory management market, the likes of IBM, Oracle, Microsoft, and SAP SE continue to dominate and dictate the course of competition. There have been a number of active regional as well as multinational players in the in store inventory management market, which are prioritizing major investments in product innovations and R&D of robust solutions facilitating robust in store inventory management.
Integration of sophisticated technologies such as AI, IoT, and Big Data Analytics into in store inventory management software is also identified to be among the top developmental strategies adopted by a large number of leading companies operating in in store inventory management market. While Zebra Corporation, Zoho Corporation, SAGE Group Plc, and industry giants are embracing the technological integration strategy, a few in store inventory management market players are also planning investments in strategic M&As to explore their inorganic growth potential and expand in terms of capabilities.
Several companies are targeting the use of computer vision technologies for picking and transporting inventory items.
An Urge to Save on Huge Labor Costs Is Compelling Retailers to High Tech In Store Inventory Management Practices
It has become imperative for retailers to better integrate multiple shopping and delivery channels and accurately keep track of the available inventory, in order to better serve their customers. Research reveals that an average of 20 hours are spent per week in stock counts (in terms of manual labor), for shelf-based retail goods such as grocery items. As the potential of AI enabled tools is discovering more exposure, power of computer vision is being trialed in several use cases, and tracking technologies such as RFID are being used for a higher ROI, retailers are soon projected to reach 100% accuracy in terms of in store inventory management – saving significantly on the labor costs.
Strong Support by Technology Leaders Is Pushing In Store Inventory Management Market Growth
To survive competition that involves Ecommerce as well as offline/physical retail stores, companies are switching to advanced technology tools for efficient, streamlined, yet cost effective in store inventory management. Leading technology innovators from across the globe are playing a crucial role in supporting retailers with technologies required to implement digitization and automation, further pushing the growth of in store inventory management market.
Segmentation – Global In Store Inventory Management Market
Taxonomy of the global in store inventory management market classifies the landscape on the basis of system type, organizational size, model of deployment, application, and end use industry.
Classification of In Store Inventory Management Market on the Basis of Type of System –
Segmentation of In Store Inventory Management Market by the Size of Organizations –
In Store Inventory Management Market Segmentation Based on the Deployment Model –
Categorization of In Store Inventory Management Market by Application –
In Store Inventory Management Market Classification Based on End Use Industry –
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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