Global Category Management Software Market is valued at approximately USD 1.49 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.1% over the forecast period 2022-2029. Category management software is a planned method for procurement in which the company's segments bid all goods & services based on the function they offer in the organization. The increasing demand for omnichannel retailing, the growing need for compliance in stores, and the rise in the number of large retail stores are the primary factors that are propelling the market growth around the world.
According to a Statista report, in 2021, retail sales globally accounted for USD 26.03 billion, which is continuously increasing and projected to reach USD 31.27 billion by 2025. Therefore, the increasing retail sales are propelling the demand for Category Management Software, which, in turn, accelerates the growth of the market during the estimated years. In addition, the increasing proliferation of advanced technologies into category management software, along with the rising number of strategic initiatives by the key market players are creating growth prospects for the market over the forthcoming years. However, lack of awareness about category management software and high cost related to the R&D activities are hindering stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Category Management Software Market study includes Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing demand from retailers to connect shopper insights to their supply chain, along with the higher adoption of management software by European retailers. Whereas the Asia Pacific is expected to grow with the highest CAGRduring the forecast period. Factors such as increasing demand for connected systems, growing adoption of emerging technologies, and rising emphasis on inventory management are bolstering the market growth in the forecasting years.
Major market players included in this report are:
Board International S.A.
42 Technologies, Inc.
Epicor Software Corp.
DotActiv (Pty) Ltd.
Recent Developments in the Market:
In July 2022, Board International S.A. publicized that the company was selected by Cornerstone Building Brands to gain project visibility in Capex planning, budgeting, reporting, forecasting, and tax provisioning.
In 2022, Epicor announced the acquisition of Data Interchange with the aim of promoting business expansion across the European region to boost its efficiency and drive value in the supply chain.
Global Category Management Software Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Solution, Service, Deployment, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Floor Planning Software
Consumer Packaged Goods
Rest of the World