The global multichannel order management market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period, to reach USD 4.2 billion by 2027 from USD 2.7 billion in 2022. Major drivers for the market are the growth of the retail and ecommerce vertical with the advent advance technologies. The businesses in retail and ecommerce had rapidly adpting the advance technologies which enables them to improve sales channels, customer experience and the overall functioning of the business as well. The major restraint for the market is the issues related with data access by unauthorised users that jeopardize the competitiveness of the organisation and the security of its data. Underlying opportunities in the multichannel order management market includes technological advancements and the rapid growth to adopt the online sales. The rapid adoption of cutting-edge technologies across manufacturing, healthcare, and food & beverage industries is gaining speed and results in the high internet adoption rate across the multichannel order management market.
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As per verticals, transportation & logistic to grow at the highest CAGR during the forecast period
The multichannel order management market is segmented on verticals into retail, e-commerce and wholesale, manufacturing, and transportation & logistic. Businesses produce a large amount of data and are unable to expand without an order management system. Customers also need quick, affordable, and customized order fulfilment. Multichannel logistics is a supply chain for e-commerce that is flexible and expandable. The use of multichannel order management software not only facilitates order management but also supports real-time inventory accuracy across all websites, marketplaces, and brick-and-mortar businesses. It makes it easier for the company to carry on with business as usual in the event of any unplanned supply chain delays, which reduces risks. As per verticals, the transportation & logistic is expected to grow at the highest CAGR 10.6% during the forecast period. The transportation & logistics segment is anticipated to account for the highest CAGR in the Asia Pacific region by growing from USD 85 million in 2022 to USD 160 million in 2027 at the CAGR of 13.5% during the forecast period.
Cloud Segment to grow at the highest CAGR during the forecast period
The multichannel order management market by deployment mode is segmented into cloud and on-premises. Cloud-based multichannel order management software provides a wide choice of flexible and affordable software and services for precise, real-time delivery from worldwide inventory channels. As per deployment mode, cloud Segment is to grow at the highest CAGR of 8.2% for the multichannel order management market during the forecast period.
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Some major players in the multichannel order management market include to IBM (US), Oracle (US), SAP (Germany), Salesforce (US), HCL Technologies (India), Zoho (India), Brightpearl (US), Stitch Labs (US), Selro (England), Linnworks (England), Vinculum (India), Freestyle Solutions (US), Aptean (US), Etail Solutions (US), SellerActive (US), Delhivery (India), Cloud Commerce Pro (England), QuickBooks Commerce (India), Unicommerce (India), SalesWarp (US), Contalog (India), Browntape (India), Appian (US). These players have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global multichannel order management market.
IBM is a multinational technology and consulting corporation that offers infrastructure, hosting and consulting services. It works through five main segments: global business services, technological services, cloud platform, cognitive solutions, and global financing. It serves various verticals, including retail, healthcare, consumer goods, and more. It provides a wide range of products, such as IBM Sterling Inventory Visibility, IBM Sterling Order Management, and IBM Sterling Fulfillment Optimizer with Watson. The business is well-established across the Americas, Europe, the Middle East, and Africa, as well as Asia Pacific, and has its clients in more than 175 countries.
SAP is a leading provider of business application solutions and services. It is also a leading business intelligence, analytics, and experience management company. The company’s software, technologies, and services address three essential components of the intelligent enterprise: intelligent suite, business technology platform, and experience management platform. Selling Software licenses and offering services, such as consulting, training, and maintenance, make up the foundation of SAP’s operations. It serves a variety of industries, and has more than 437,000 clients worldwide. Its vast product portfolio covers SAP Commerce cloud, SAP Cross Channel Order Management for Retail, SAP Oder Management Foundation and more. Also, it has its strong presence in the Americas, Europe, the Middle East and Africa, and Asia Pacific.
Oracle is a world leader in providing a wide range of products, services, and software that are intended to satisfy the needs of business IT environments, including platforms, applications, and infrastructure. Businesses of all sizes, governments, academic organizations, and resellers are among Oracle’s clients. Through a global sales staff and the Oracle Partner Network, the corporation provides its products and services both directly and indirectly. Databases, middleware, application software, and hardware systems development, production, and marketing are its areas of expertise. Oracle offers a comprehensive and broad portfolio of solutions, such as Oracle Order Management Cloud, NetSuite Order Management, Oracle Retail Order Management System Cloud Services and more. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters over more than 4,30,000 customers.
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