Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.1 Billion | USD 5.2 Billion | 11.3% | 2020 |
The global Multichannel Order Management market accrued earnings worth approximately 2.1(USD Billion) in 2020 and is predicted to gain revenue of about 5.2(USD Billion) by 2028, is set to record a CAGR of nearly 11.3% over the period from 2021 to 2028.
The report offers assessment and analysis of the Multichannel Order Management market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).
Multichannel order management (MOM) is a B2B software developed for different traders for selling their products along with focusing on their ecommerce business. These multichannel order management solutions are designed for helping integration of orders from different channels into similar catalogue along with posting current prices across various sales channels at time of price changes. Thriving online purchase activities along with online retailing as well as massive use of social media & cloud computing tools will create new growth avenues for multichannel order management business over upcoming years. Large-scale requirement of firms on enhancing end-user experience and steep rise in competition among the players will culminate into humungous business growth over upcoming years.
Large-scale acceptance of MOM software services in firms is high owing to its myriad benefits such as simplified architecture, enhanced operational proficiency, ease of deployment, and improved customer experience. These features will assist multichannel order management market explore new growth dimensions in foreseeable future. In addition to this, increase in sales at retail stores and online shopping activities will expedite business growth over the years ahead. With firms trying to become more flexible in its functioning, there is higher demand for scalability resulting in constant surge in multichannel selling, thereby culminating in large-scale adoption of MOM services in various industries. With multichannel order management solutions proving to be cost-efficient as compared to other conventional solutions, market for multichannel order management is likely to expand leaps & bounds during forecast timespan.
Report Attributes | Report Details |
---|---|
Report Name | Multichannel Order Management Market Research Report |
Market Size in 2020 | USD 2.1 Billion |
Market Forecast in 2028 | USD 5.2 Billion |
Growth Rate | CAGR of 11.3% |
Number of Pages | 210 |
Key Companies Covered | IBM Corporation, Delivery Private Limited, SalesWarp, GeekSeller, Newfold Digital Inc., Etail Solutions, Zoho Corporation Private Limited, HCL Technologies Limited, SAP SE, SKUSUITE Inc., ManageEcom, and EMERGE App & Higher Identity Technology Private Limited. |
Segments Covered | By Deployment Mode, By Vertical, By Component, By Organization Size and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2020 |
Historical Year | 2018 to 2020 |
Forecast Year | 2021 - 2028 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Moreover, a prominent rise in popularity of multichannel order management services due to increase in internet users in countries such as China and India will promulgate expansion of multichannel order management industry over the upcoming years. Low operating costs and multichannel selling will further contribute towards overall market size.
Large number of customers prefer cloud as mode of deployment as it facilitate risk reduction and resiliency. Apart from this, cloud used as a mode of deployment provides various benefits such as cost-efficiency, scalability, installation ease, and adaptability. In addition to this, low cost and effective operating of cloud services has enhanced its popularity among end-users.
The growth of large enterprises segment over forecast timespan can be credited to massive focus of giant firms on use of multiple channels to expand its global reach along with fulfilling customer demand. Furthermore, large firms receive many orders from multiple channels and try to prevent occurrence of issues related to inventory management & Omni-channels by making use of multichannel order management services.
Key players profiled in the study and leveraging growth of multichannel order management industry include IBM Corporation, Delivery Private Limited, SalesWarp, GeekSeller, Newfold Digital Inc., Etail Solutions, Zoho Corporation Private Limited, HCL Technologies Limited, SAP SE, SKUSUITE Inc., ManageEcom, and EMERGE App & Higher Identity Technology Private Limited.
The expansion of multichannel order management industry in Asia Pacific during assessment period can be attributed to humungous demand for cloud solutions in countries such as Japan, India, South Korea, and China. Technological breakthroughs in slew of industries in sub-continent and strong demand for multichannel order management services in the region will drive regional market trends.
The global Multichannel Order Management market profiles key players such as:
By Deployment Mode
By Vertical
By Component
By Organization Size
By Region
FrequentlyAsked Questions
Large-scale acceptance of MOM software solutions in firms is high due to its myriad benefits such as simplified architecture, improved operational efficiency, installation ease, and enhanced end-user experience. These features will assist multichannel order management market explore new growth avenues in near future. Apart from this, surge in sales at retail stores and online shopping activities will expedite business sphere in the years ahead. With organizations trying to become more flexible in its functioning, there is higher demand for scalability resulting in consistent surge in multichannel sales, thereby culminating in huge acceptance of MOM services in myriad sectors. With multichannel order management solutions proving to be cost-effective in comparison to other conventional services, market for multichannel order management is projected to expand leaps & bounds during forecast timespan.
Furthermore, a prominent increase in popularity of multichannel order management services due to increase in number of web users in countries such as China and India will promulgate expansion of multichannel order management industry over the upcoming years. Low operating costs and multichannel selling will further contribute towards overall market size.
According to Zion market research report, the global Multichannel Order Management market accrued earnings worth approximately 2.1(USD Billion) in 2020 and is predicted to gain revenue of about 5.2(USD Billion) by 2028, is set to record a CAGR of nearly 11.3% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is due to humungous demand for cloud solutions in countries such as Japan, India, South Korea, and China. Technological breakthroughs in slew of industries in sub-continent and strong demand for multichannel order management services in the region will drive regional market trends.
The key market participants include IBM Corporation, Delivery Private Limited, SalesWarp, GeekSeller, Newfold Digital Inc., Etail Solutions, Zoho Corporation Private Limited, HCL Technologies Limited, SAP SE, SKUSUITE Inc., ManageEcom, and EMERGE App & Higher Identity Technology Private Limited.
Cloud is the deployment mode which will be preferred by end-users and will contribute majorly towards multichannel order management market size over the upcoming years.
Large enterprises will lead organizational size sector during forecast timeline subject to large-scale highlight of giant firms on use of multiple channels for extending its global reach along with fulfilling consumer demand. Furthermore, large organizations receive many orders from multiple channels and try prevention of incurrence of issues pertaining to inventory management & Omni-channels by making optimum utilization of multichannel order management solutions.
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