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
“The booming retail and eCommerce sector is driving the growth of the multichannel order management market.”
The global 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. Digital transformation, proliferation of smartphone and internet users, and multiple sale channels are some of the factors expected to drive the multichannel order management market. However, security and privacy concerns may act as the restraining factor for the growth of the multichannel order management market.
“The cloud deployment type is expected to have the largest market share during the forecast period”.
The cloud deployment type is expected to have the largest share of the multichannel order management market during forecast period. Cloud-based solutions have witnessed a greater demand because of their wide range of functionalities, such as pay-per-use model, flexibility, ease in accessibility, faster setup time, multiuser support, and low installation and maintenance costs.
“The retail, eCommerce, and wholesale industry vertical is expected to hold the largest market share during the forecast period.”
Among all verticals, the retail, eCommerce, and wholesale industry vertical is expected to hold the largest market share during forecast period. The rise in multiple sales channels among retail, eCommerce, and wholesale companies has made it necessary to have a greater visibility across the entire order process life cycle. Therefore, the need for real-time updates related to the tracking, managing, and processing of orders has resulted in an increased demand for multichannel order management solutions.
“Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period.”
In terms of growth rate, APAC is expected to grow at the highest growth rate. The APAC region is expected to register continuous growth during the forecast period mainly due to advancements in various industry verticals, namely, retail and eCommerce, healthcare, manufacturing, and food & beverage. Currently, most organizations are fairly behind the curve in leveraging multichannel order management platform, but this is expected to change because of the availability of low-cost, cloud-based multichannel order management solutions. Countries that are expected to constitute a major portion of the market include China, India, Japan, South Korea, and Australia.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the multichannel order management market.
The breakup of the profiles of primary participants is given below:
By Company: Tier 1 - 25%, Tier 2 - 35%, and Tier 3 - 40%
By Designation: C-Level - 45%, Director Level - 51%, and Others - 4%
By Region: North America - 39%, Europe - 25%, APAC - 30%, and Rest of the World (RoW) - 6%
The key multichannel order management vendors profiled in the report are as follows:
HCL Technologies Limited (India)
Zoho Corporation (India)
Freestyle Solutions (US)
Unicommerce Esolutions Pvt. Ltd. (India)
Cloud Commerce Pro Ltd (UK)
Stitch Labs (US)
Vinculum Solutions Ltd. (India)
Etail Solutions (US)
Selro Ltd. (UK)
TradeGecko Pte. Ltd. (Singapore)
Browntape Technologies (India)
The multichannel order management market has been segmented by solution (software and services), deployment type, organization size, industry vertical, and region. A detailed analysis of the key industry players has been done to provide insights into their business overview; services; key strategies; new service launches; partnerships, agreements, and collaborations; expansions; and competitive landscape associated with the global multichannel order management market.
Reasons to Buy the Report
The report will help market leaders/new entrants in the following ways:
The report segments the multichannel order management market comprehensively and provides the closest approximations to the revenue numbers for the overall market and subsegments across different regions.
The report is expected to help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
The report is expected to help stakeholders understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, new services developments, partnerships, and acquisitions.