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Inventory Management Software Market to Reach $4.8 Billion, Globally, by 2032 at 8.7% CAGR: Allied Market Research

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The global inventory management software market is experiencing growth due to several key factors. The increase in adoption of e-commerce platforms and the need for efficient supply chain management are driving the demand for inventory management solutions.

PORTLAND, Ore., Aug. 1, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Inventory Management Software Market by Deployment Mode (On-Premise and Cloud), Application (Inventory Control and Tracking, Order Management, Scanning and Barcoding, Asset Management and Others), Enterprise Type (Large Enterprises and SMEs), and Industry Vertical (Manufacturing, Retail and Consumer Goods, Healthcare and Life Sciences, Energy and Utilities, Automotive and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the inventory management software market was valued at $2.3 billion in 2023, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 8.7% from 2024 to 2032.

Prime determinants of growth 

The integration of advanced technologies such as AI, IoT, and blockchain is enhancing the capabilities of inventory management software, making it more attractive to businesses. However, challenges such as the high cost of software and the expenses related to implementation and training pose barriers to market growth. In addition, concerns about data security and privacy can deter some organizations from adopting these solutions. Despite these challenges, the market is poised for significant growth. The rise in demand for automation and digitalization in various industries, along with the increasing trend toward cloud-based solutions, provides lucrative opportunities for market expansion. Furthermore, the growing emphasis on real-time inventory tracking and analytics to optimize operations and reduce costs is expected to fuel the adoption of inventory management software globally. 

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Report coverage & details: 

Report Coverage 

Details 

Forecast Period 

2024–2032 

Base Year 

2023

Market Size in 2023 

$2.3 Billion

Market Size in 2032 

$4.8 Billion

CAGR 

8.7 %

No. of Pages in Report 

200

Segments Covered 

Deployment Mode, Application, Enterprise Size, Industry Vertical, and Region. 

Drivers 

Growing Adoption of Business Process Automation for Seamless Inventory Control to Propel Market GrowthAdoption of Easy Integration Software for Transformation of Inventory ProcessesGrowth of E-Commerce 

Opportunities 

 

Increasing Importance of Data Analytics The emergence of IoT and RFID technologies 

Restraint 

Lack of Visibility in Inventory Processes Cost of Implementation and Maintenance 

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The on-premise segment contributes a major share in the growth of the inventory management software market.

Based on deployment mode, the on-premise segment held the highest market share in 2023, accounting for around three-fourths of the global inventory management software market revenue, and is likely to retain its dominance throughout the forecast period. An on-premise installation strategy enables users to monitor their site through desktops or additional systems. The on-premise inventory management systems give users complete control or administrative access to their inventory management software when a program is installed at the company premises. However, the cloud segment is projected to manifest the highest CAGR from 2024 to 2032. This can be attributed to the fact that the use of cloud platforms brings flexibility and stability to a business. The segment growth is attributed to the rise in e-commerce and the various methods of order fulfillment. 

The inventory control and tracking segment contribute a major share in the growth of the inventory management software market.

Based on application, the inventory control and tracking segment held the highest market share in 2023, accounting for nearly two-fifths of the global inventory management software market revenue, and is likely to retain its dominance throughout the forecast period. The demand for inventory control and tracking is driven by the fact that organizations can use this type of management software to ensure that stock levels of their inventory are kept at optimal levels, reducing the risk of overstocking or shortage. However, the scanning and barcoding segment is projected to attain the highest CAGR from 2024 to 2032. This can be attributed to the fact that barcode scanners are being extensively used for tracking inventory movements throughout a supply chain. 

The large enterprise segment held the highest market share in 2023. 

Based on enterprise size, the large enterprise segment held the highest market share in 2023, accounting for nearly two-thirds of the global inventory management software market revenue, and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that large enterprises have vast inventories that are difficult to manage. Moreover, inventory management helps the enterprises to ensure that the products are not out of stock or unavailable when essential. The development of this software is being encouraged by large enterprises to respond to the growing and unique requirements of customers. 

The healthcare and life science segment are expected to exhibit the fastest growth throughout the forecast period.

Based on industry vertical, the healthcare and life science segment is projected to attain the highest CAGR during the period of 2024-2032. This can be attributed to the fact that to ensure the efficient administration of healthcare organizations, effective medical inventory management is essential. The medical inventory of hospitals involves the management of stock for use by healthcare professionals. These trends are expected to stimulate the growth of the inventory management software market. 

North America to maintain its dominance by 2032 

Based on region, North America held the highest market share in terms of revenue in 2023, accounting for half of the global inventory management software market revenue, and is expected to continue leading throughout the forecast period. This dominance is driven by the widespread adoption of advanced technologies, the presence of major market players, and a high demand for efficient supply chain management and automation across various industries such as retail, manufacturing, and healthcare. The aging population, particularly the baby boomer generation, significantly contributes to this growth as it increases the demand for healthcare services and products, necessitating efficient inventory management solutions for medical supplies and equipment. In addition, North American businesses continually innovate to meet the evolving needs and preferences of consumers by developing new services like personalized customer experiences, self-service options, and advanced analytics for inventory optimization, further propelling the market growth in the region. 

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Major Industry Players: – 

Zoho Corporation Pvt. Ltd.IBM CorporationOracle CorporationLightspeedCIN7 Ltd.LinnworksIntuit Inc.Acumatica, Inc.FishbowlBrightpearl 

The report provides a detailed analysis of these key players in the global inventory management software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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CNN rings in 2025 from across the Asia Pacific, culminating with Anderson Cooper and Andy Cohen in New York

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HONG KONG, Dec. 23, 2024 /PRNewswire/ — CNN is gearing up for another unforgettable New Year’s Eve celebration, leading its global audience into 2025 with music, laughter, and live coverage from around the world. At 7:00 AM ET, CNN kicks off its live reporting from various international cities as they ring in the new year in the Asia Pacific, with Kristie Lu Stout anchoring live from Victoria Harbor in Hong Kong starting at 9:00 AM ET/10:00 PM HKT to 12:00 PM ET/1:00 AM HKT. The festivities will culminate with Anderson Cooper and Andy Cohen co-hosting CNN’s New Year’s Eve Live with Anderson Cooper and Andy Cohen from New York City’s Times Square for an eighth consecutive year.

CNN’s line-up of international correspondents will also make appearances during the broadcast, including Lynda Kinkade from Luna Park in Sydney, Hanako Montgomery in glittering Tokyo, Mike Valerio from the iconic Bosingak Belfry in the heart of Seoul and Will Ripley overlooking the Chao Phraya River in Bangkok.

Joining our correspondents will be a star-studded line-up of guests from across the worlds of entertainment, fashion, arts and sports. Kristie Lu Stout has a full slate with Marie Kondo, Japanese “professional tidier”, organization expert and Konmari founder, Japanese contemporary artist Takashi Murakami, Chinese-American fashion designer Vivienne Tam, the Philippines’ double gold medalist, Carlos Yulo, viral Japanese dance troupe Avantgardey, Pakistani actor and filmmaker Usman Mukhtar, Indian-American comic Zarna Garg, and Panda keeper at Hong Kong’s Ocean Park, Matt Leung.

In Australia, Lynda Kinkade chats with music legend Sting, Colin Hay from 80’s band Men at Work, fashion designer Rebecca Vallance, and actress and voice of Chilli from Bluey, Melanie Zanetti.

Thailand will provide the backdrop as Will Ripley talks to international rapper, singer, dancer and style icon, LISA, Chinese-American double gold medalist in freestyle skiing, Eileen Gu, Pakistani actress Hania Aamir and Taiwanese-American drag performer and winner of season 16 of RuPaul’s Drag Race, Nymphia Wind.

From Japan, Hanako Montgomery speaks with K-pop superstar, TAEYANG, Japanese comedian Naomi Watanabe and Japanese two-time Olympic gold medalist skateboarder, Yuto Horigome, while in Korea, Mike Valerio interviews Indonesian all-female rock trio, Voice of Baceport.

CNN’s New Year’s Eve Live with Anderson Cooper and Andy Cohen begins at  8:00 PM ET, with music, comedy and some surprise guests, including Curtis “50 Cent” Jackson, live from his residency at Planet Hollywood Resort & Casino in Las Vegas, Meghan Trainor, Shania Twain, Diplo, Lil Jon, Mickey Guyton who will perform “Imagine” live from Times Square, Patti LaBelle, and comedians Whitney Cummings, Amy Sedaris, Sasheer Zamata, Ziwe, Adam Devine, and more.  

CNN’s New Year’s Eve coverage will stream live on Max for subscribers and on CNN.com, CNN connected TV and mobile apps for pay TV subscribers.

About CNN Worldwide

CNN Worldwide is the most honored brand in cable news, reaching more individuals through television, streaming and online than any other cable news organization in the United States. Globally, people across the world can watch CNN International, which is widely distributed in over 200 countries and territories. CNN Digital is the #1 online news destination, with more unique visitors than any other news source. Max, Warner Bros. Discovery’s streaming platform, features CNN Max, a 24/7 streaming news offering available to subscribers alongside expanded access to News content and CNN Originals. CNN’s award-winning portfolio includes non-scripted programming from CNN Original Series and CNN Films for broadcast, streaming and distribution across multiple platforms. CNN programming can be found on CNN, CNN International and CNN en Español channels, via CNN Max and the CNN Originals hub on discovery+ and via pay TV subscription on CNN.com, CNN apps and cable operator platforms. Additionally, CNN Newsource is the world’s most extensively utilized news service partnering with over 1,000 local and international news organizations around the world. CNN is a division of Warner Bros. Discovery.

About Warner Bros. Discovery

Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world’s most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com

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SOURCE CNN International

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Incheon’s Bold Return to CES 2025: Pioneering Tomorrow’s Smart Cities

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SEOUL, South Korea, Dec. 18, 2024 /PRNewswire/ — The Incheon Free Economic Zone Authority (IFEZ) will make a strong comeback at CES 2025, which will be held from January 7 to 10 in Las Vegas. Under the theme “Urban Renaissance: Building Tomorrow’s Smart Cities Today,” IFEZ will showcase its smart city vision and highlight cutting-edge technologies from 41 innovative companies.

The Incheon-IFEZ pavilion in the AI Zone of the North Hall at the Las Vegas Convention Center will spotlight ten leading Incheon-based startups specializing in AI, urban tech, and smart city solutions. Beyond the pavilion, ten companies will join the Eureka Park Korea Pavilion, six will exhibit at the Global Pavilion, and 15 more will participate as part of a broader delegation.

This extensive representation underscores Incheon’s emergence as a tech innovation hub, reflecting its global ambitions and technological prowess.

The Incheon-IFEZ pavilion promises to be more than just an exhibition space. It will transform into a dynamic networking hub where global business leaders, investors, and innovators can explore potential collaborations with Incheon-based companies.

The pavilion’s first major event, the Unveiled Incheon Media Stage, will introduce IFEZ’s forward-thinking smart city vision to international media outlets on January 7. All Connected Incheon Night will bring together global investors, entrepreneurs, and industry leaders to foster meaningful partnerships that evening.

The momentum continues on January 8 with the IFEZ Tech Talk, featuring industry giants like LG Electronics, Lotte Innovate, and the Stanford Center at Incheon Global Campus. They will present insights into IFEZ’s smart city projects and innovation initiatives.

On January 9, the spotlight will shift to the IFEZ Showcase, a pitching competition where Incheon’s top startups will present their groundbreaking technologies to over 30 global venture capital investors. This event aims to secure international partnerships and expand market reach.

IFEZ’s continued participation at CES reflects its commitment to driving global innovation. Established in 2003 as South Korea’s first free economic zone, IFEZ encompasses Songdo, Yeongjong, and Cheongna. Designed to stimulate economic growth, its advanced infrastructure and prime location have made it a thriving business hub over the past two decades.

By participating in CES 2025, IFEZ reaffirms its dedication to fostering innovation and connecting visionary startups with the global market. The official CES 2025 Incheon-IFEZ website, www.ces2025-ifez.com, provides more details.

Media and Interview Contact

Don Southerton, CES 2025 Incheon-IFEZ
Dsoutherton@bridgingculture.com
+1 310-866-3777

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SOURCE The Incheon Free Economic Zone Authority

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ANTA Unveils ANTAZERO UPCYCLE Collection

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Shanghai’s Iconic Wukang Road Hosts the Industry’s First Sustainable Sports Fashion Extravaganza

SHANGHAI, Dec. 22, 2024 /PRNewswire/ —  ANTA captivated audiences with a groundbreaking sustainable sports showcase on Shanghai’s iconic Wukang Road, debuting the ANTAZERO UPCYCLE collection. Co-conceived with the sustainability platform canU and renowned Chinese creative visionaries, the collection reimagines ANTA’s surplus inventory into elevated, eco-forward designs. Melding artistry with environmental responsibility, the event underscores ANTA’s trailblazing commitment to sustainable innovation.

Set against the backdrop of ANTA’s Zero-Carbon Mission Store at 98 Wukang Road, the unconventional runway blurred boundaries between fashion, sports, and daily life. Models and influencers brought the upcycled collection to life, embodying dynamic looks for diverse scenarios—from skiing and cycling to city walk, ageless style, and pet-friendly ensembles. The spirited procession spilled into the streets, inviting onlookers to witness the harmonious fusion of sustainability, inclusivity, and sports-inspired aesthetics.

The ANTAZERO UPCYCLE collection represents a pioneering collaboration with canU and four Chinese design luminaries, each infusing their unique vision into ANTA’s inventory. The canU platform’s ethos of weaving sports into everyday life is reflected throughout the collection; CHENPENG crafts bold expressions of environmental themes using surplus down materials; SANKUANZ revitalizes inventory pieces with experimental spray-painting, breathing new emotion into existing fabrics; MEGARMENTS celebrates ANTA’s basketball heritage with intricate upcycled craftsmanship; and KAIKAI explores the aspirational ideal of 100% recycled design, pushing the boundaries of sustainability. Through their innovation, dormant inventory was transformed into wearable art, embodying a circular tenor of creativity and resourcefulness.

ANTA CEO Xu Yang has articulated a clear vision: green principles must evolve into green growth engines to achieve lasting commercial sustainability. The newly unveiled ANTAZERO UPCYCLE collection exemplifies this philosophy, repurposing surplus garments and fabrics into mass-producible, market-ready designs. By minimizing energy-intensive processes such as weaving and dyeing, the collection marries environmental responsibility with fresh, contemporary aesthetics. Offering consumers innovative, eco-conscious lifestyle choices, it underscores the seamless integration of sustainability into business strategy. As Cui Dan, ANTA’s sustainability advisor and founder of the canU sustainable platform, aptly noted, “Only when brands and industries translate sustainability into tangible products can consumers truly recognize its value.”

The ANTAZERO UPCYCLE collection is now available at ANTA’s Zero-Carbon Mission Store and via the ANTA WeChat Mini Program, providing consumers with access to a new era of sustainable fashion.

Since inaugurating its Zero-Carbon Mission Store on Earth Day, April 22, ANTA has actively celebrated global sustainability milestones, including World Oceans Day and International Panda Day. Through immersive art installations, curated exhibitions, and interactive events, ANTA has collaborated with media outlets, industry partners, and its consumer base to champion eco-consciousness. The launch of the ANTAZERO UPCYCLE collection and the resounding success of the sustainable sports fashion show serve as a crowning achievement in ANTA’s year-long sustainability efforts, addressing global environmental challenges while spotlighting the ingenuity and responsibility of Chinese sports brands.

As part of its ambitious goal to achieve carbon neutrality by 2050, ANTA continues to pioneer sustainable solutions across product development and retail operations. According to its 2023 ESG report, nearly 20% of ANTA Group’s products are now sustainable, driven by continuous advancements in eco-friendly materials and innovative design. The brand remains dedicated to mainstreaming sustainable consumption, delivering products that seamlessly blend style, functionality, and environmental stewardship.

In 2024, ANTA Group retained its top position in China’s sports industry on the “Green Supply Chain CITI Index”, published by the Institute of Public & Environmental Affairs (IPE), for the second consecutive year. Looking ahead, ANTA reaffirms its commitment to sustainability, leveraging innovation to fuel green growth. By offering sustainable products and services to a global audience and spearheading the eco-transformation of its supply chain, ANTA is forging a path toward a low-carbon future in collaboration with consumers and partners alike.

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SOURCE ANTA Group

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