Inventory Tracking System Market - Forecast(2024 - 2030)

Report Code: ITR 86698 Report Format: PDF + Excel

Overview

Inventory tracking system market is forecast to reach $6.2 billion by 2025, at a CAGR of 6.30% during 2020-2025. Increasing adoption of smartphones and other mobile devices, a rapidly evolving global e-commerce landscape and the increasing need to control and reduce supply chain inefficiencies by offering an Omnichannel shopping experience, retailers are designing a cohesive user experience for their customers on various platforms such as physical stores, online stores, social media channels and rising need to control inventory shrinkage in supply-chains are the key factor facilitating the market growth. According to the National Retail Federation’s National Retail Security Survey (NRSS) on retail theft, global retailers incurred shrinkage losses amounting to $50.6 billion in 2018. The four major sources of inventory shrinkage in the retail industry include shoplifting, employee theft, supplier fraud, and paperwork errors. As inventory shrinkage can significantly affect profit margins of SMEs, there is an increasing demand for modern inventory tracking systems, especially from the retail sector will increase the demand for inventory tracking system.

Report Coverage

The report: “Inventory Tracking System Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Inventory Tracking system Market.


Key Takeaways

  • North America held a dominant share of over 40% in the inventory tracking system market in 2018 due to rapidly expanding e-commerce landscape in the region, a robust manufacturing sector with increasing adoption of industrial IoT after Industry 4.0
  • The hardware and tracking device segment is projected to grow at highest CAGR of 11.2% due to increased adoption is due to the technology aids in tracking the movement through every stage of the supply chain right from the manufacturing unit to the point of sale.
  • Manufacturing sector is growing at a highest CAGR in the inventory tracking system market in the forecast period due to effectively acting as buffer between consumer demands and component availability.
  • Major Key players operating in the Inventory Tracking System Market include A2B Tracking Solutions Inc., Asset Management International, AT&T INC, Barcodes Inc., CYBRA Corporation, MASS Group Inc., Ventipix, Wasp Barcode Technologies, Windward Inventory Tracking System and ZIH Corporation among others.

Type - Segment Analysis

The hardware and tracking device segment is projected to grow at highest CAGR of 11.2% in the forecast period 2020-2025. Increased adoption is due to the technology aids in tracking the movement through every stage of the supply chain right from the manufacturing unit to the point of sale which ensures stock security, quality control and reorder point.  Tracking devices are typically used by many end users. For instance, manufacturing units that move thousands of orders on a daily basis use tracking devices for safety and security.  Similarly, tracking devices are used by automobiles companies to provide vehicle location and to share engine diagnosis. In addition to this, the technology is ideal for the implementation in environments, where real-time inventory optimization is critical. All these will accelerate the growth of the inventory tracking system in the forecast period.

By End User - Segment Analysis

Manufacturing sector is growing at a highest CAGR in the inventory tracking system market in the forecast period due to effectively acting as a buffer between consumer demands and component availability. In addition it acts as the mode of control and management of inventories by tracking the number of products or components that exists in the manufacturing unit. For Instance, insufficient inventory can seriously disrupt the production-distribution cycle that is so crucial to the survival of all manufacturing organizations. On the other hand, excessive inventory can cripple a firm’s cash flow and thus endanger its liquidity position. These capabilities are expected to favorably contribute to the increasing uptake of inventory tracking systems over the forecast period.

Geography - Segment Analysis

In 2018, North America held a dominant share of over 40% in the inventory tracking system market size due to rapidly expanding e-commerce landscape in the region, a robust manufacturing sector with increasing adoption of industrial IoT after Industry 4.0, and the availability of an extensive cloud-based inventory solutions that offer cost-benefits for the maintenance of large-scale inventory as compared to the traditional systems are the major factors which fuel the growth in this region. According to the U.S. Department of Commerce’s International Trade Administration (ITA), the manufacturing industry in the U.S. received Foreign Direct Investment (FDI) amounting to USD 1.6 trillion in 2017. Similarly, in 2016, the manufacturing sector contributed nearly USD 350 billion to the U.S. GDP. All these factors will accelerate the market in this region.

Drivers – Inventory Tracking System Market

  • Rising popularity of e- commerce is driving the growth of this market

Inventory tracking in e-commerce helps to manage and keep track of the inventory so that one can channelize them accordingly and deliver to the customers without any delay. Having a proper inventory system in an e-commerce business will always help them to prevent any time lag from processing the order to the final delivery. E-Commerce is a huge platform which is growing at an unprecedented rate all over the world. For Instance according to the report given by internet retailer in 2018, global ecommerce sales will reach $3.6 trillion in 2019 from $2.9 trillion in 2018. Therefore, an increase in the e-commerce sales will drive the demand for inventory tracking system.

  • Increasing usage of smartphones 

Smartphones can be used for barcode scanning, data collection and entry, data access in the field, taking photos, collecting signatures and capturing GPS location of the transaction. The increase adoption of smart phones will drive the inventory tracking system in the forecast period. For instance according to the report given by American mobile retail association in 2018, 1.4 billion units of smartphones were sold worldwide, therefore increase in smartphones will enhance the inventory tracking system market.

Challenges – Inventory Tracking System Market

  • High investment cost and cyber security attacks.

Software which is required for inventory tracking system depends on the features and the abilities that it offers along with the access to the number of users and products involved is very high. Additionally, data security is one of the major concerns for inventory tracking system vendors, as the software carries vital information related to customers, product and technicians is easily cyber attackers, who can hack into these systems and manipulate the data to misguide technicians. These kind of challenges will hinder the market for the forecast period.

Market Landscape

Partnership and acquisitions are key strategies adopted by players in the Inventory Tracking System Market. In 2018, the market of Inventory Tracking System industry outlook has been consolidated by the top five players accounting for 58.25% of the share. Inventory Tracking System top 10 companies include A2B Tracking Solutions Inc., Asset Management International, AT&T INC, Barcodes Inc., CYBRA Corporation, MASS Group Inc., Ventipix, Wasp Barcode Technologies, Windward Inventory Tracking System and ZIH Corporation among others.

Acquisitions/Technology Launches

  • In June 2019, Barcodes, Inc. is proud to announce the recent acquisition of Informs, Inc., an AIDC solutions provider with a strategic focus on consumables and custom labels sales.
  • In April 2018, BluJay Solutions acquired CSF Solutions, a leading provider of customs and compliance solutions in the German market. With this acquisition, BluJay further solidifies its position as Germany’s leading customs solution provider. 

1. Inventory Tracking System Market - Overview
        1.1 Definitions and Scope
2. Inventory Tracking System Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Inventory Tracking System Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Inventory Tracking System Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Inventory Tracking System Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Inventory Tracking System Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Inventory Tracking System Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Inventory Tracking System Market - By Component Type (Market Size -$Million / $Billion)
        8.1 Hardware
        8.2 Software
        8.3 Service
9. Inventory Tracking System Market - By Industry Vertical (Market Size -$Million / $Billion)
        9.1 Manufacturing
        9.2 Retail
        9.3 Aerospace Defense
        9.4 Healthcare
        9.5 Consumer Good
        9.6 Food Beverage
        9.7 Agriculture
        9.8 Automotive
10. Inventory Tracking System - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 Asset Tagging
            10.3.2 Maintenance Audit
            10.3.3 Monitoring
            10.3.4 Tracking
11. Inventory Tracking System- By Geography (Market Size -$Million / $Billion)
        11.1 Inventory Tracking System Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Inventory Tracking System- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Inventory Tracking System- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Inventory Tracking System - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Inventory Tracking System - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Inventory Tracking System Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Inventory Tracking System Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Inventory Tracking System Market - Key Company List by Country Premium
15. Inventory Tracking System Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 A2B Tracking Solutions, Inc
        15.3 Asset Management International
        15.4 Att; Inc
        15.5 Barcodes, Inc
        15.6 Cybra Corporation
        15.7 Mass Group Inc
        15.8 Ventipix
        15.9 Wasp Barcode Technology
        15.10 Windward Software
        15.11 Zih Corp
        15.12 Company 12
        15.13 Company 13 & More
*Financials would be provided on a best efforts basis for private companies
16. Inventory Tracking System Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Inventory Tracking System Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Global Inventory Tracking System Market, By Component Type Market 2019-2024 ($M)
1.1 Hardware Market 2019-2024 ($M) - Global Industry Research
1.2 Software Market 2019-2024 ($M) - Global Industry Research
1.3 Service Market 2019-2024 ($M) - Global Industry Research
2.Global Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 ($M)
2.1 Manufacturing Market 2019-2024 ($M) - Global Industry Research
2.2 Retail Market 2019-2024 ($M) - Global Industry Research
2.3 Aerospace Defense Market 2019-2024 ($M) - Global Industry Research
2.4 Healthcare Market 2019-2024 ($M) - Global Industry Research
2.5 Consumer Good Market 2019-2024 ($M) - Global Industry Research
2.6 Food Beverage Market 2019-2024 ($M) - Global Industry Research
2.7 Agriculture Market 2019-2024 ($M) - Global Industry Research
2.8 Automotive Market 2019-2024 ($M) - Global Industry Research
3.Global Global Inventory Tracking System Market, By Component Type Market 2019-2024 (Volume/Units)
3.1 Hardware Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Software Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Service Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 (Volume/Units)
4.1 Manufacturing Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Retail Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Aerospace Defense Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Healthcare Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Consumer Good Market 2019-2024 (Volume/Units) - Global Industry Research
4.6 Food Beverage Market 2019-2024 (Volume/Units) - Global Industry Research
4.7 Agriculture Market 2019-2024 (Volume/Units) - Global Industry Research
4.8 Automotive Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Global Inventory Tracking System Market, By Component Type Market 2019-2024 ($M)
5.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
5.2 Software Market 2019-2024 ($M) - Regional Industry Research
5.3 Service Market 2019-2024 ($M) - Regional Industry Research
6.North America Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 ($M)
6.1 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
6.2 Retail Market 2019-2024 ($M) - Regional Industry Research
6.3 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
6.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
6.5 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
6.6 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
6.7 Agriculture Market 2019-2024 ($M) - Regional Industry Research
6.8 Automotive Market 2019-2024 ($M) - Regional Industry Research
7.South America Global Inventory Tracking System Market, By Component Type Market 2019-2024 ($M)
7.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
7.2 Software Market 2019-2024 ($M) - Regional Industry Research
7.3 Service Market 2019-2024 ($M) - Regional Industry Research
8.South America Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 ($M)
8.1 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
8.2 Retail Market 2019-2024 ($M) - Regional Industry Research
8.3 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
8.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
8.5 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
8.6 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
8.7 Agriculture Market 2019-2024 ($M) - Regional Industry Research
8.8 Automotive Market 2019-2024 ($M) - Regional Industry Research
9.Europe Global Inventory Tracking System Market, By Component Type Market 2019-2024 ($M)
9.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
9.2 Software Market 2019-2024 ($M) - Regional Industry Research
9.3 Service Market 2019-2024 ($M) - Regional Industry Research
10.Europe Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 ($M)
10.1 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
10.2 Retail Market 2019-2024 ($M) - Regional Industry Research
10.3 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
10.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
10.5 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
10.6 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
10.7 Agriculture Market 2019-2024 ($M) - Regional Industry Research
10.8 Automotive Market 2019-2024 ($M) - Regional Industry Research
11.APAC Global Inventory Tracking System Market, By Component Type Market 2019-2024 ($M)
11.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
11.2 Software Market 2019-2024 ($M) - Regional Industry Research
11.3 Service Market 2019-2024 ($M) - Regional Industry Research
12.APAC Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 ($M)
12.1 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
12.2 Retail Market 2019-2024 ($M) - Regional Industry Research
12.3 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
12.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
12.5 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
12.6 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
12.7 Agriculture Market 2019-2024 ($M) - Regional Industry Research
12.8 Automotive Market 2019-2024 ($M) - Regional Industry Research
13.MENA Global Inventory Tracking System Market, By Component Type Market 2019-2024 ($M)
13.1 Hardware Market 2019-2024 ($M) - Regional Industry Research
13.2 Software Market 2019-2024 ($M) - Regional Industry Research
13.3 Service Market 2019-2024 ($M) - Regional Industry Research
14.MENA Global Inventory Tracking System Market, By Industry Vertical Market 2019-2024 ($M)
14.1 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
14.2 Retail Market 2019-2024 ($M) - Regional Industry Research
14.3 Aerospace Defense Market 2019-2024 ($M) - Regional Industry Research
14.4 Healthcare Market 2019-2024 ($M) - Regional Industry Research
14.5 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
14.6 Food Beverage Market 2019-2024 ($M) - Regional Industry Research
14.7 Agriculture Market 2019-2024 ($M) - Regional Industry Research
14.8 Automotive Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Inventory Tracking System Market Revenue, 2019-2024 ($M)
2.Canada Inventory Tracking System Market Revenue, 2019-2024 ($M)
3.Mexico Inventory Tracking System Market Revenue, 2019-2024 ($M)
4.Brazil Inventory Tracking System Market Revenue, 2019-2024 ($M)
5.Argentina Inventory Tracking System Market Revenue, 2019-2024 ($M)
6.Peru Inventory Tracking System Market Revenue, 2019-2024 ($M)
7.Colombia Inventory Tracking System Market Revenue, 2019-2024 ($M)
8.Chile Inventory Tracking System Market Revenue, 2019-2024 ($M)
9.Rest of South America Inventory Tracking System Market Revenue, 2019-2024 ($M)
10.UK Inventory Tracking System Market Revenue, 2019-2024 ($M)
11.Germany Inventory Tracking System Market Revenue, 2019-2024 ($M)
12.France Inventory Tracking System Market Revenue, 2019-2024 ($M)
13.Italy Inventory Tracking System Market Revenue, 2019-2024 ($M)
14.Spain Inventory Tracking System Market Revenue, 2019-2024 ($M)
15.Rest of Europe Inventory Tracking System Market Revenue, 2019-2024 ($M)
16.China Inventory Tracking System Market Revenue, 2019-2024 ($M)
17.India Inventory Tracking System Market Revenue, 2019-2024 ($M)
18.Japan Inventory Tracking System Market Revenue, 2019-2024 ($M)
19.South Korea Inventory Tracking System Market Revenue, 2019-2024 ($M)
20.South Africa Inventory Tracking System Market Revenue, 2019-2024 ($M)
21.North America Inventory Tracking System By Application
22.South America Inventory Tracking System By Application
23.Europe Inventory Tracking System By Application
24.APAC Inventory Tracking System By Application
25.MENA Inventory Tracking System By Application
26.A2B Tracking Solutions, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Asset Management International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Att; Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Barcodes, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Cybra Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Mass Group Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Ventipix, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Wasp Barcode Technology, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Windward Software, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Zih Corp, Sales /Revenue, 2015-2018 ($Mn/$Bn)