Market Report

Overview Inventory tracking system market is forecast to reach $6.2 billion by 2025, at a CAGR of 6.30% during 2020-2025. Increasing adoption of smartphones and other mobile devices, a rapidly evolving global e-commerce landscape and the increasing need to control and reduce supply chain inefficiencies by offering an Omnichannel shopping experience, retailers are designing a cohesive user experience for their customers on various platforms such as physical stores, online stores, social media channels and rising need to control inventory shrinkage in supply-chains are the key factor facilitating the market growth. According to the National Retail Federation’s National Retail Security Survey (NRSS) on retail theft, global retailers incurred shrinkage losses amounting to $50.6 billion in 2018. The four major sources of inventory shrinkage in the retail industry include shoplifting, employee theft, supplier fraud, and paperwork errors. As inventory shrinkage can significantly affect profi...