Category Management Software Market Size, Share & Trends Analysis Report By Deployment (Cloud, On-premise), By Enterprise Size (Large, SEMs), By Application, By Solution, By Service, And Segment Forecasts, 2022 - 2030

Category Management Software Market Growth & Trends

The global category management software market size is expected to reach USD 3.79 billion by 2030, growing at a CAGR of 11.1% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing demand for omnichannel retailing to facilitate operations efficiently is expected to drive industry growth. The retail industry is still far from organized and still contributes a major factor in numerous economies worldwide. At the same time, malls also play a vital role in achieving revenue targets. For instance, from shopping, health, and wellness to gaming and entertainment, malls cater to every segment to meet the growing customer demands.

The use of category management solutions in these retail stores of malls can play a vital role in maintaining the inventory stocks per customer preferences.Moreover, awareness about these solutions for proper placements of products in retail stores contributes significantly to the industry development. There is a growing need for category management software solutions, especially in the retail segment and other B2C modes. These types of businesses possess considerable growth potential, and the implementation of category management software solutions by retailers is anticipated to open up new business opportunities for software developers. Hence, the industry leaders are focusing on catering to the retail segment’s needsowing to their increased scalability.

The adoption of category management software offers multiple advantages, such as comprehensive and customizable graphical reports. Category management solutions help retailers analyze what customers want their products based on their purchasing behavior. The category management solutions allow retailers, in turn, to concentrate on improving the sales process and boosting revenue. Moreover, it also aids businesses with category insights and required improvements in the procuring process, which attracts many industry players to adopt category management software to make strategic decisions.

The COVID-19 outbreak has significantly impacted industry development. Major retailers, such as Amazon and Walmart, have shifted from traditional to hybrid-digital mode. Thus, growing digitalization and the introduction of category management software by key players are expected to drive industry growth. COVID-19 has impacted the industry significantly. Major retailers, such as Amazon and Walmart, have shifted from traditional mode to hybrid-digital mode. Thus, the growing digitalization and introduction of category management software by key players are expected to drive industry growth.

Category Management Software Market Report Highlights

• The floor planning software segment is expected to witness the fastest CAGR over the forecast period. The growing consumer demand for user-friendly and enhanced floor planning software, supported by digitalization, is boosting the segment growth
• The managed services segment is expected to register the fastest CAGR over the forecast period. The increasing demand for maintenance and support services is driving the segment
• The cloud segment is anticipated to registerthe fastest CAGR over the forecast period. Aggressive implementation of cloud-based software to deliver global insights responsible for business productivity is fueling the segment growth
• The Small & Medium Enterprises (SMEs) segment is anticipated to showcase remarkable growth during the projection period due to the increasing number of SMEs across the globe
• The retail segment dominated the industry in 2021 due to the hybrid physical and digital environment that the software offers for catering to the changing consumer needs
• Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period. The growth is attributed to the rising number of large retail stores to cater to the growing customer demands in the region