According to a new research report Multichannel Order
Management Market by Solution (Software & Services), Deployment Type (Cloud
& On-Premises), Organization Size, Industry Vertical (Retail, Ecommerce,
and Wholesale, Manufacturing, & Healthcare), and Region - Global Forecast
to 2023", published by MarketsandMarkets™, the Multichannel Order
Management Market size is expected to grow from USD 1.46 billion in 2018 to USD
2.44 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.8% during
the forecast period.
Browse and in-depth TOC on " Multichannel Order Management Market "
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The booming retail and eCommerce sector, multiple sale channels, low
operational and initial costs, and rapidly growing number of internet users are
some of the major factors driving the Multichannel Order Management Market.
Software segment is
expected to hold a larger market size during the forecast period.
Among all solutions, the software segment is expected to hold a
larger market size during the forecast period. This growth can be attributed to
the widespread adoption of multichannel order management software among
enterprises. With the advent in various industry verticals and growth in
multichannel selling, businesses’ focus centered around streamlining business
operations and improving customer experience.
Cloud deployment type is
expected to be a faster-growing segment during the forecast period.
Under the deployment type, the cloud deployment segment is
expected to hold a larger market size and also grow at a higher CAGR during the
forecast period. The overall adoption of cloud-based solutions has been
witnessed to be on the rise and is expected to gain high demand during the
forecast period because of its functionalities and core features. Moreover, the
additional benefits of cloud-based solutions include effectiveness while being
used by multiple users, reduced upfront costs, easy rolling out of new projects,
no investments on hardware, low maintenance costs, and minimized infrastructure
costs.
Retail, eCommerce, and
wholesale vertical is expected to grow at the highest CAGR during the forecast
period.
In the industry vertical segment, the retail, eCommerce, and
wholesale industry is expected to be one of the highest growing verticals in
the Multichannel Order Management Market. Companies in this vertical are
constantly evolving in terms of technology. Furthermore, the growing customer
base within the eCommerce sector forced businesses to focus on delivering
enhanced customer experience and satisfaction. Moreover, the growth in retail
and eCommerce across developed and emerging countries also drive Multichannel
Order Management Market.
North America is expected to hold the largest market size and Asia
Pacific (APAC) to grow at the highest CAGR during the forecast period.
Among all regions, North America is expected to have the largest
size in the Multichannel Order Management Market during the forecast period,
followed by the European region. The North American region has been receptive
toward adopting multichannel order management within organizations because of
its wide range of features and functionalities. The APAC region is expected to
register a strong growth in the coming years, as organizations in this region
are expected to adopt multichannel order management solutions to improve
customer experience streamline business process and meet the demands of dynamic
customers.
The key vendors in the Multichannel
Order Management Market include IBM (US), Salesforce (US), Oracle (US), HCL
Technologies Limited (India), SAP (Germany), Zoho Corporation (India),
Freestyle Solutions (US), Brightpearl (US), Unicommerce Esolutions Pvt. Ltd.
(India), Cloud Commerce Pro Ltd (UK), ChannelGrabber (UK), Ecomdash (US),
Primaseller (US), Stitch Labs (US), Vinculum Solutions Ltd. (India), Etail
Solutions (US), Selro Ltd. (UK),
SalesWarp (US), SellerActive (US), TradeGecko Pte. Ltd. (Singapore), ManageEcom
(India), Contalog (India), GeekSeller, Browntape Technologies (India),
Linnworks (UK), and Sanderson (UK).
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