Multichannel Order Management Market: Current Analysis and Forecast (2022-2028)

Multichannel Order Management Market: Current Analysis and Forecast (2022-2028)

Multichannel order management is how retailers keep all their orders and inventory control from multiple sales channels under one umbrella. The digital transformations in businesses and the integration of advanced technology in the business sector are attributed to the market growth of multichannel order management. Furthermore, the rapidly increasing adoption of internet penetration and the growing digitalization of retail stores are also important contributing factors to the market growth of multichannel order management.

Therefore, the rising number of smartphone users is expected to drive the global multichannel order management market at a CAGR of 11%, during the forecast period. Several factors such as the growing number of internet users and growth in multichannel setting are driving the growth of the market.

COVID-19 has a staggering effect and a negative impact on the global economy due to imposed lockdowns and government restrictions. The market for multichannel order management also witnessed down surge due to the disrupted supply chain and weaker financial conditions for people.

• Based on the component, the market has been categorized into software and services. Among them, the service segment is expected to have significant growth in the market. The service segment includes integration & installation service, consulting services, professional services, and others. The rising integration of online services in businesses along with the rapidly rising number of IT service providers is attributed to the increasing share of the segment in the market.
• Based on the deployment mode, the market has been categorized into cloud and on-premises. Among them, the cloud segment is expected to have significant growth in the market during the forecast period. Cloud computing allows essential virtual offices that give flexibility in connecting to business. Furthermore, cloud computing also operational costs along with increases in the scalability of the business are also responsible for the segmental growth.
• Based on the end-user, the market has been categorized into retail & e-commerce, food & beverage, healthcare, and others. Among them, the healthcare segment is expected to have significant growth in the market during the forecast period. The rising prevalence of chronic diseases along with the increasing geriatric population increases the demand for multichannel order management in healthcare facilities. Furthermore, the rising demand from pharmaceutical companies also catalyzes the growth of the segment.
• For a better understanding of the market adoption of the multichannel order management industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. The Asia Pacific constitutes a significant share of multichannel order management mainly due to the rising expansion of the businesses and the increasing demand for efficient systems to manage the large consumer base. Furthermore, the rising number of smartphone users is also responsible for the growth of the multichannel order management market in the region.
• Some of the major players operating in the market are IBM Corporation., Oracle Corporation, HCL Technologies Ltd, SAP SE, Salesforce Inc., Zoho Corporation, Brightpearl Inc, Selro Ltd., Vinculum Solutions Pvt. Ltd, and Freestyle Solutions.