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Report
Multichannel Order Management - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 131 Pages I Mordor Intelligence
The Multichannel Order Management Market size is estimated at USD 3.27 billion in 2024, and is expected to reach USD 5.01 billion by 2029, growing at a CAGR of 8.92% during the forecast period (2024-2029).
Some major factors driving the market are the technological advancements related to digital transformation in various industries, the increasing penetration of smartphones across the globe, the growing number of internet users, and the adoption of multiple sales channels by different organizations.
Key Highlights
-With the rapidly increasing retail and e-commerce market globally, the demand for multichannel order management solutions is growing primarily for scaling all functions and orders at every granular level, which helps organizations form an efficient system optimization and organization.
-Vendors' multichannel order management solutions help organizations combine their orders from all the channels into the same catalog and update the latest prices across all sales channels for uniformity during price changes.
-The flexibility these solutions offer is a major reason for their increased adoption. These software suites help manage sales from various marketplaces, maintain optimum inventory to avoid stockouts or overselling, and accurately process bulk orders; it also helps track differentiated pricing across all the channels, a complex task that a multichannel platform can handle seamlessly.
-However, managing multichannel integration in e-commerce can be challenging for many organizations. It can be time-consuming and complex to integrate multiple sales channels and keep them in sync with one another. Such factors might hinder the market growth.
-The COVID-19 pandemic had a positive impact on the market. The pandemic led to disruptions in the supply chain and led to less offline shopping and boosted the online market, thereby driving the demand for multichannel order management solutions.
Multichannel Order Management Market Trends
Retail and E-commerce Segment is Expected to Witness Significant Growth
- Digital media has played a vital role in transforming the retail industry with its huge consumer reach. Consumers have become more preferential about when and how they want to be reached by a brand.
- This trend has given rise to the scenario where a product's marketing initiative and the inventory across multiple sales channels should match, providing the consumer with the desired and consistent shopping experience.
- This need for consistency and clarity in market communication and stock availability across channels is expected to drive the market forward. Also, multichannel retailers are increasingly adopting innovative strategies primarily to cater to rapidly changing consumer preferences and to efficiently handle the huge orders of multichannel retailing.
- The multiple sales channel are no longer exclusive to each other. They overlap each other and can be effectively used by brands to provide an enhanced brand experience to consumers.
- With the rapid growth of the online market, retailers are adopting innovative technologies, such as big data analytics, cloud computing, digital stores, and social media networks. With the increasing competition in this sector, customer experience has proven to be a crucial differentiating factor among online shopping options.
Asia-Pacific is Expected to Witness Significant Growth
- Across the Asia-Pacific region, shopping malls, grocery stores, supermarkets, convenience stores, and hypermarkets are getting a digital upgrade designed primarily to stay competitive in the next generation of shopping experiences.
- With the advent of technological innovations like facial recognition, rapid-fire delivery, digital payments, big data, and shopping experience tailored to consumer needs, the retail experience is primarily designed to be seamless, fast, and convenient.
- These advancements have combined the physicality and accountability of an offline store with the speed and ease of online shopping and have changed the entire brick-and-mortar retail experience. These factors are expected to drive the demand for order management solutions during the forecast period.
- Moreover, retailers in the region are also entering into strategic partnerships. For instance, JD.com, one of China's largest retail companies, has been rolling out 'boundaryless retail' via collaborations with major Western players, including Walmart and Intel.
- Also, retailing in India is somewhat unorganized. There is a need for effective supply chain management. The main factors driving organized retailing growth in India are rising urbanization, higher disposable incomes, growing consumerism, and a nuclear family structure. These factors in the country are expected to fuel the demand for order management solutions.
Multichannel Order Management Industry Overview
The multichannel order management market is highly competitive due to many large and small players providing software and services to domestic and international markets. The market appears moderately fragmented and is moving towards the fragmented stage. The major players in the market are adopting strategies like product and service innovation and mergers and acquisitions to expand their product portfolio's functionality and stay competitive in the market. Some of the major players in the market are IBM Corporation, HCL Technologies Limited, Oracle Corporation, and Salesforce.com, Inc.
In April 2023, Oracle introduced new capabilities across Oracle Fusion Cloud Applications Suite, expected to help customers accelerate supply chain planning, increase operational efficiency, and improve financial accuracy. The updates included new planning, usage-based pricing, Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) rebate management capabilities, and enhanced quote-to-cash processes in Oracle Fusion Applications.
In April 2023, Freestyle Software announced the availability of version 12 of Multichannel Order Manager (M.O.M.), which marks the second major release since 2020. The latest version includes significant improvements to security and is one of the first applications to be certified under the new, more stringent PCI-S3 requirements.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness- Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Retail and E-commerce Market
5.1.2 Growth in Multichannel Selling
5.2 Market Challenges
5.2.1 Security and Privacy Concerns
5.2.2 Highly Intricate Inventory Management
6 MARKET SEGMENTATION
6.1 By Offerings
6.1.1 Software
6.1.2 Services
6.2 By Deployment
6.2.1 Cloud
6.2.2 On-premise
6.3 By End-user Vertical
6.3.1 Retail & E-commerce
6.3.2 Food & Beverage
6.3.3 Healthcare
6.3.4 Other End-user Verticals
6.4
By Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 United Kingdom
6.4.2.2 Germany
6.4.2.3 Rest of Europe
6.4.3 Asia-Pacific
6.4.3.1 China
6.4.3.2 Japan
6.4.3.3 Rest of Asia-Pacific
6.4.4 Latin America
6.4.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 HCL Technologies Limited
7.1.3 Oracle Corporation
7.1.4 Salesforce.com, Inc.
7.1.5 SAP SE
7.1.6 Zoho Corporation
7.1.7 Brightpearl
7.1.8 Linnworks
7.1.9 Cloud Commerce Pro Ltd.
7.1.10 Freestyle Solutions, Inc.
7.1.11 Sanderson
7.1.12 Unicommerce eSolutions Pvt. Ltd.
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
9 INVESTMENT ANALYSIS
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