Overview and Scope
Category management software refers to specialized software tools designed to help businesses efficiently manage and optimize their product categories. This software enables businesses to gain insights into their product categories, understand customer preferences, identify trends, and make informed decisions to maximize sales and profitability.
Sizing and Forecast
The category management market size has grown rapidly in recent years. It will grow from $1.90 billion in 2023 to $2.16 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to growing demand for data-driven decision-making, rising competition in the retail sector, expansion of e-commerce, complexity in managing large product assortments, emergence of big data analytics.
The category management market size is expected to see rapid growth in the next few years. It will grow to $3.66 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to integration of iot devices for real-time inventory tracking, focus on sustainability, shift towards dynamic pricing strategies, emphasis on supply chain resilience, increasing importance of shopper loyalty. Major trends in the forecast period include cloud-based solutions, real-time data analytics, mobile-friendly solutions, personalization and customization, supply chain visibility.
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Segmentation & Regional Insights
The category management software market covered in this report is segmented –
1) By Component: Solution, Service
2) By Deployment: On-Premises, Cloud-Based
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Retail, Distribution, Consumer Packaged Goods
Europe was the largest region in the category management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the category management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in the number of retail stores is expected to propel the growth of the category management software market going forward. Retail stores are physical or online establishments where businesses sell goods and services directly to consumers. The number of retail stores is increasing due to growing consumer demand for convenient shopping options and retailers’ efforts to expand their presence and reach new markets. Category management software streamlines inventory, sets competitive prices, and improves store layouts, leading to better sales and profitability for retail stores. For instance, in january 2024, according to a report published by the National Association of Convenience Stores, a US-based trade association, the United States saw a 1.5% rise in convenience stores, bringing the total number to 152,396 in 2024, compared to the count in 2023. Therefore, the rise in the number of retail stores is driving the growth of category management software.
Key Industry Players
Major companies operating in the category management software market are International Business Machines Corporation, Oracle Corporation, SAP SE, Capgemini SE, Cognizant, Zebra Technologies Corporation, Nielsen Holdings plc, SAS Institute Inc., ID Logistics Group, PTC Inc., Acosta Inc., Teradata Corporation, Information Resources Inc., Epicor Software Corporation, Manhattan Associates Inc., Qlik Technologies Inc., Anaplan Inc., MicroStrategy Incorporated, Aptos LLC, Vistex Inc., AFS Technologies, JDA Software, Jagger LLC, Velocity Financial Inc.
The category management software market report table of contents includes:
1. Executive Summary
2. Category Management Software Market Characteristics
3. Category Management Software Market Trends And Strategies
4. Category Management Software Market – Macro Economic Scenario
5. Global Category Management Software Market Size and Grow
..
32. Global Category Management Software Market Competitive Benchmarking
33. Global Category Management Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Category Management Software Market
35.Category Management Software Market Future Outlook and Potential Analysis
36. Appendix
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