The 2024 Inventory Management Report presents an analysis of emerging trends and developments in the sector. The report shows the sector’s expansion, driven by technological progress and rising investment. It emphasizes areas such as inventory tracking, optimization, and the uptake of cloud software solutions. It also explores the sector’s workforce dynamics, investment behaviors, and inputs from key investors. With firmographic data and trend analysis, this report provides insights into the changing inventory management landscape.
This report was last updated in July 2024.
This inventory management industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Inventory Management Report 2024
- Executive Summary
- Introduction to the Inventory Management Report 2024
- What data is used in this Inventory Management Report?
- Snapshot of the Global Inventory Management Industry
- Funding Landscape in the Inventory Management Industry
- Who is Investing in Inventory Management?
- Emerging Trends in the Inventory Management Industry
- 5 Inventory Management Startups Impacting the Industry
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Executive Summary: Inventory Management Outlook 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 2500+ inventory management startups developing innovative solutions to present five examples from emerging inventory management industry trends.
- Industry Growth Overview: The inventory management industry has observed an annual trend growth rate of -2.48% with more than 11700 companies listed.
- Manpower & Employment Growth: The sector employs 762500 individuals, with an addition of 55200 new employees in the last year.
- Patents & Grants: With 5015 patents, the industry shows a commitment to developing new technologies and solutions. It has also received 448 grants, indicating support for research and development initiatives.
- Global Footprint: The top five country hubs are the US, India, Canada, the UK, and Australia. The top five city hubs include New York City, Bangalore, Singapore, London, and Sydney.
- Investment Landscape: Investment in the industry is considerable, with an average investment value of USD 20.3 million per round. The industry has attracted over 1400 investors, participating in more than 3200 funding rounds, with over 1280 companies receiving investments.
- Top Investors: Investors like Tiger Global Management, Summit Partners, Accel, and more have collectively invested more than USD 1 billion.
- Startup Ecosystem: Five innovative startups include WAIR (Retail AI Forecasting), DashDot Robotics (Autonomous Inventory Tracking), Trusticate (Blockchain-based Inventory Management), Automyze (Inventory Management Tools & Analytics), and Views (Mobile Inventory Management)
- Recommendations for Stakeholders: Consider AI-powered inventory tracking to improve accuracy and efficiency. Invest in real-time data analytics to enhance decision-making processes. Adopt cloud-based solutions to address the demand for scalability and flexibility in inventory management.
Explore the Data-driven Inventory Management Report for 2024
The inventory management report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap presents key metrics from our broad database. It encompasses 2524 startups and 11700 total companies. Even with a decline of 2.48% in growth last year, innovation continues with 5015 patents filed and 400+ grants awarded.
The global workforce is at 762500 employees, indicating an increase of 55200 employees in the last year. The five country hubs are the US, India, Canada, UK, and Australia, while the five city hubs include New York City, Bangalore, Singapore, London, and Sydney. These innovation hubs see the highest startup activity and the growth of related sectors.
What data is used to create this inventory management report?
Based on the data provided by our Discovery Platform, we observe that the inventory management industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The news coverage and publications surpassed 11500 in the last year, indicating interest and activity in this sector.
- Funding Rounds: Our database has more than 3200 funding rounds, showing financial backing and investment interest.
- Manpower: With a workforce of over 762000 employees, the industry saw an addition of more than 55000 new employees last year.
- Patents: Innovation is present with 5015 patents, indicating a commitment to developing new technologies and solutions.
- Grants: The industry received 448 grants, showing support for research and development initiatives.
- Yearly Global Search Growth: The yearly global search growth was at 10.32%, showing growing interest and relevance in the inventory management landscape.
A Snapshot of the Global Inventory Management Industry
The inventory management report presents data reflecting the sector’s growth. With a total of 11700 companies, the sector shows business activity and presence. The industry employs 762500 individuals, with an employee growth of 55200 in the last year, suggesting workforce expansion.
Explore the Funding Landscape of the Inventory Management Industry
Investment in the industry is considerable, with an average investment value of USD 20.3 million per round. This average investment value indicates investor confidence and the sector’s potential for growth.
The industry has attracted over 1400 investors, who have participated in more than 3200 funding rounds. This data suggests a dynamic funding environment, with capital being injected into the industry. Moreover, over 1280 companies have received investments, reflecting a distribution of financial support across the sector.
Who is Investing in Inventory Management?
The inventory management industry has received investment from notable investors, with a combined value of over USD 1 billion. Here are the details of the investors in the sector:
- Tiger Global Management has invested USD 672.8 million in 7 companies, marking it as an active participant in the industry.
- Summit Partners has contributed USD 357 million to 3 companies, showing a commitment to the sector.
- Accel has invested USD 137.8 million in 3 companies, indicating its interest in inventory management innovations.
- General Catalyst has allocated USD 136.3 million across 3 companies, suggesting its belief in the industry’s potential.
- Tribe Capital has invested USD 135.2 million in 3 companies, pointing out its focus on this sector.
- Francisco Partners has contributed USD 110.1 million to 2 companies, supporting industry advancements.
- General Atlantic has invested USD 108 million in 2 companies, reinforcing its strategic interest in inventory management.
- Index Ventures has allocated USD 87.5 million across 3 companies, reflecting its ongoing investment strategy.
- B Capital has invested USD 86.5 million in 2 companies, signifying its confidence in the sector’s growth.
- Bessemer Venture Partners has contributed USD 71 million to 2 companies, indicating its support for innovative solutions.
Access Inventory Management Data & Industry Trends with the Discovery Platform
Key trends in the inventory management industry are driving efficiency and innovation. Here are a few of them along with firmographic insights:
- Inventory Tracking includes companies that are adopting advanced tracking technologies to enhance accuracy and efficiency in their inventory management processes. This trend encompasses 1189 companies, employing a total of 56000 individuals. The industry added 4700 new employees last year. This trend has an annual growth rate of 18.03%.
- Inventory Optimization involves companies using algorithms and predictive analytics to maintain optimal stock levels and reduce waste. It includes 606 companies, employing 50200 individuals, with 3400 new employees added in the past year. This trend has an annual growth rate of 19.23%.
- The Cloud Software trend is marked by 5084 companies, employing a workforce of 159900 individuals. The sector added 17300 new employees last year, indicating its growth. With an annual trend growth rate of 10.62%, cloud software is a key component of modern inventory management.
5 Top Examples from 2500+ Innovative Inventory Management Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
WAIR facilitates Retail AI Forecasting
Dutch startup WAIR develops AI Replenisher, a retail inventory management tool. The platform optimizes stock levels using machine learning algorithms. It predicts demand with high accuracy and reduces overstock and stockouts. The technology integrates with existing systems and enhances supply chain efficiency. It also offers real-time data analytics and provides valuable insights for decision-making. In addition, WAIR’s automated workflows streamline operations and save time and resources.
DashDot Robotics enables Autonomous Inventory Tracking
Indian startup DashDot Robotics develops advanced robotic solutions for inventory management. Its product Box-IT measures real-time parameters of stored inventory. This box offers easy management and access from anywhere. A user-friendly interface and inbuilt machine learning tools enable analysis and optimization of the inventory cycle and streamline the production line. Its other product, Infy, a multipurpose adaptive companion robot, consists of a single base with varied integrated modules for numerous applications.
Trusticate offers Blockchain-based Inventory Management
Danish startup Trusticate offers blockchain-based software for inventory management. The platform streamlines the management of nature-based assets. It offers features such as real-time updates and a single source of truth for all transactions. The startup’s system ensures data integrity by eliminating double-counting and inaccuracies. Trusticate provides a unified view of transactions, thereby enhancing credibility. Further, it digitizes asset registries and simplifies inventory management.
Automyze provides Inventory Management Tools & Analytics
US-based startup Automyze offers a suite of inventory management tools. The platform, available on Shopify, optimizes forecasting. It automates discounting and improves reporting procedures. The technology provides forecasts by utilizing historical trends, seasonality, and recent sales velocity data. It also provides a workspace for planning purchase orders. The platform enables dynamic price adjustments and reduces overstock costs. Lastly, it offers analytics for understanding performance trends.
Views supports Mobile Inventory Management
UK-based startup Views provides a platform for art inventory management. The system, designed for art dealers, operates on both computer and mobile. It offers features such as instant PDFs, sharing, requests, and collections. The platform allows for faster data management and the creation of bespoke PDFs. It also enables easy image sharing and tracking of client requests. Collections, a feature of the platform, allow for the grouping of works. Further, Views prioritizes privacy and confidentiality of inventory.
Looking for Comprehensive Insights into Inventory Management Trends, Startups, or Technologies?
The 2024 Inventory Management Report shows a sector experiencing growth driven by new technologies and increasing investments. Emerging trends such as AI-powered inventory tracking, real-time data analytics, and the widespread adoption of cloud-based solutions will become staples in future inventory managers’ toolkits. Get in touch to explore all 2500+ startups and scaleups, as well as all industry trends impacting companies globally and across industries.
