Global Category Management Software Market Surges as Organizations Embrace Data-driven Strategies for Optimal Product Categories
Global category management software market is increasing due
to the growing need for efficient procurement and supply chain management
solutions during the forecast period 2024-2028.
According
to TechSci Research report, “Category
management software Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028”, The Global Category Management
Software Market is experiencing significant growth and transformation, driven
by various factors that are shaping the industry landscape. Category management
software refers to the technology solutions that enable organizations to
strategically manage their product categories, optimize sales, enhance customer
satisfaction, and drive profitability. This software automates and streamlines
the category management processes, providing advanced analytics, market
insights, assortment planning, and promotional optimization capabilities. One
of the key drivers propelling the growth of the Global Category Management
Software Market is the increasing demand for streamlined category management
processes. Traditionally, category management has been a manual and
time-consuming process, requiring extensive data analysis and collaboration
between various stakeholders. However, with the advent of category management
software, organizations can automate and streamline these processes, leading to
improved efficiency and effectiveness. These software solutions offer features
such as data analytics, market insights, and assortment planning, enabling organizations
to make data-driven decisions and effectively manage their product categories.
By leveraging category management software, businesses can gain a competitive
edge by identifying market trends, optimizing product assortments, and
tailoring promotions to meet customer demands. Another major driver for the
Global Category Management Software Market is the growing emphasis on
data-driven decision making. In today's digital age, organizations have access
to vast amounts of data from various sources, including sales data, customer
data, market data, and social media data. However, making sense of this data
and extracting actionable insights can be a complex and time-consuming task.
Category management software addresses this challenge by providing advanced
analytics capabilities that enable organizations to analyze large volumes of
data and derive meaningful insights. By leveraging data-driven insights,
businesses can make informed decisions regarding product assortment, pricing,
promotions, and inventory management. This data-driven approach allows
organizations to optimize their category strategies, improve customer
satisfaction, and drive revenue growth.The rising need for collaboration and
communication is also driving the adoption of category management software
globally. Category management involves cross-functional collaboration between
various departments, including sales, marketing, finance, and supply chain.
Effective collaboration and communication are essential for aligning category
strategies, sharing insights, and coordinating activities across different
teams.
Category
management software provides a centralized platform for collaboration and
communication, enabling teams to collaborate in real-time, share information,
and track progress on category initiatives. This improves communication,
enhances transparency, and ensures that all stakeholders are aligned towards
common goals. Additionally, category management software facilitates
collaboration with external partners, such as suppliers and retailers,
fostering joint business planning and improving overall category performance. Integration
with existing systems and processes is another crucial driver for the Global
Category Management Software Market. Organizations often have multiple systems
and processes in place to manage various aspects of their business, including
enterprise resource planning (ERP), customer relationship management (CRM), and
supply chain management (SCM) systems. To maximize efficiency and minimize
disruption, it is essential for category management software to seamlessly
integrate with these existing systems. Integration allows organizations to
leverage their existing data and workflows, eliminating the need for duplicate
data entry and manual synchronization. By integrating category management
software with existing systems, organizations can achieve a holistic view of
their business, enabling better decision making and improved operational
efficiency.
In
conclusion, the Global Category Management Software Market is witnessing
significant growth and transformation driven by the increasing demand for
streamlined category management processes, the growing emphasis on data-driven
decision making, the rising need for collaboration and communication, and the
integration with existing systems and processes. As organizations recognize the
value of category management software in optimizing their product categories
and driving business growth, the market is expected to witness continued
expansion in the coming years.
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and an in-depth TOC on the "Category management software Market."
The Global Category
management software Market is segmented by Solution, Service, Deployment, Enterprise
Size, Application, and region. Based on Solution, the market is bifurcated into
Planogram Software. Floor Planning Software. Based on Service, the market is bifurcated into Managed Services,
Professional Services. Based on Deployment,
the market is bifurcated into On-premises, Cloud-based. Based on Enterprise
Size, the market is bifurcated into Large Enterprises, Small &
Medium Enterprises. Based on Application,
the market is bifurcated into Retail, Distribution. Based on region, the market is further bifurcated into
North America, Asia-Pacific, Europe, South America, Middle East & Africa.
Based on Solution,
the Global Category Management Software Market, the "Planogram
Software" segment emerged as the dominant force and is poised to maintain
its leadership during the forecast period. Planogram software solutions have
witnessed substantial adoption across various industries, including retail,
consumer goods, and merchandising. These solutions empower organizations to
optimize product placement on shelves and displays, enhancing in-store customer
experiences and driving sales. With the increasing importance of visual
merchandising and space optimization, planogram software has become an
indispensable tool for retailers and manufacturers. The dominance of planogram
software can be attributed to several factors. Firstly, it addresses the
critical need for effective shelf and aisle management in physical stores,
helping retailers make data-driven decisions about product assortment and
placement. Secondly, advancements in planogram software have introduced
features such as 3D visualization, planogram automation, and AI-driven
recommendations, which further enhance its appeal.
Thirdly, the
growth of e-commerce has not diminished the relevance of planogram software;
instead, it has extended its reach to online merchandising, where the visual
presentation of products remains crucial. Looking ahead, the Planogram Software
segment is expected to maintain its dominance due to ongoing innovations,
increasing demand for data-driven merchandising strategies, and the continuous
expansion of retail and consumer goods industries worldwide. The need for
efficient space utilization and visual merchandising will remain a driving
force, solidifying planogram software's position as a pivotal component of
category management in both physical and digital retail environments. As
retailers and brands strive to optimize customer experiences and boost sales,
planogram software will continue to play a central role in shaping category
management strategies.
Based on Service, the
"Professional Services" segment took center stage in the Global
Category Management Software Market, establishing its dominance, and it is
anticipated to maintain this leadership position throughout the forecast
period. Professional services within the category management software market
encompass a wide range of offerings, including consulting, implementation,
training, and support services. These services are instrumental in helping
organizations effectively deploy, customize, and maximize the value of their
category management software solutions. Several key factors contributed to the
dominance of the Professional Services segment in 2022. Firstly, the complexity
of category management software often necessitates expert guidance in the form
of consultants who can tailor the software to an organization's specific needs.
Secondly, the implementation phase is crucial for ensuring a smooth transition
to the new software, and professional services providers offer invaluable
assistance in this regard. Thirdly, ongoing training and support services help
organizations unlock the full potential of their category management software,
ensuring that users are proficient in its use and that any issues are promptly
addressed.
The dominance of
Professional Services is expected to persist due to the growing recognition
among organizations of the importance of comprehensive support throughout their
software adoption journey. As the category management software landscape
continues to evolve, businesses will rely on professional services providers to
navigate the intricacies of customization, integration, and optimization.
Moreover, as more industries and sectors recognize the benefits of category
management, the demand for expert guidance and support in maximizing the value
of these solutions will only increase, sustaining the dominance of the
Professional Services segment in the Global Category Management Software Market.
Key market players in the Global Category management
software Market are:
-
- JDA Software Group, Inc.
- SAP SE
- Oracle Corporation
- IBM Corporation
- Infor, Inc.
- Nielsen Holdings PLC
- SAS Institute Inc.
- Manhattan Associates, Inc.
- Symphony RetailAI
- Aptos, Inc.
- Blue Yonder Group, Inc.
- GEP Worldwide
- Coupa Software Inc.
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“The North America dominated
the Global Category Management Software Market and is expected to maintain its
dominance during the forecast period. North America has a well-established and
mature market for category management software, driven by the presence of large
enterprises and early adopters of advanced technologies. The region's dominance
can be attributed to several factors. Firstly, North American organizations
have recognized the importance of category management in optimizing sales,
improving customer satisfaction, and driving profitability. As a result, there
has been a significant focus on implementing category management software to
streamline processes and gain a competitive edge. Secondly, North America is
home to several major players in the category management software market,
including software vendors and service providers.
These companies have a
strong presence in the region and offer a wide range of solutions tailored to
the specific needs of North American businesses. Additionally, North America
has a highly developed IT infrastructure and a skilled workforce, enabling organizations
to effectively implement and utilize category management software. Furthermore,
the region has stringent regulatory requirements, particularly in industries
such as retail and consumer goods, which drive the adoption of category
management software to ensure compliance and data security. The presence of a
large number of retail chains and consumer goods companies in North America
further fuels the demand for category management software. Overall, with its
mature market, technological advancements, and strong industry players, North
America is expected to maintain its dominance in the Global Category Management
Software Market during the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Category management
software Market– Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Solution (Planogram Software, Floor Planning
Software), By Service (Managed Services, Professional Services), By Deployment
(On-premise, Cloud-based), By Enterprise Size (Large Enterprises, Small &
Medium Enterprises), By Application (Retail, Distribution), By Region, and By
Competition,” has evaluated the future growth potential of Global Category
management software Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Category
management software Market.
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