Global Multichannel Order Management Market Forecast to 2023 - Technological Advancements in Machine Learning, Artificial Intelligence, and Augmented Reality
DUBLIN, Feb. 14, 2019 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The global multichannel order management market size 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.
The major factors driving the market are digital transformation, proliferation of smartphone and internet users, and multiple sale channels.
The objective of the report is to define, describe, and forecast the multichannel order management market size by solution (software and services), deployment type, organization size, industry vertical, and region. Among all solutions, the software segment is expected to hold a larger market size during the forecast period, as there is an increasing need for multichannel order management in every vertical such as retail, eCommerce, and wholesale, for scaling functions and orders at every granular level that results in an efficient system optimization and organization.
Among all professional services, the integration and deployment services segment is expected to grow at the fastest growth rate during the forecast period. These services in the multichannel order management market enable organizations to grasp proper technical knowledge and are guided to select the right software architecture, based on their business requirements. The best deployment type is then suggested to organizations to reduce their costs and improve the overall productivity of the installed order management software.
Among all deployment types, the Cloud deployment type is expected to have the largest market share in the multichannel order management market during the forecast period. Cloud-based solutions have witnessed a greater demand due to 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.
Among all verticals, the retail, eCommerce, and wholesale vertical is estimated to hold the largest market size in the multichannel order management market in 2018. With the proliferation of the online market, retailers are adopting innovative technologies, such as cloud computing, big data analytics, digital stores, and social media networks. With the ever-increasing competition in this sector, customer experience proves to be a very vital differentiating factor among the array of online shopping options. Hence, there has been a high adoption of multichannel order management methodologies in the retail sector because of its benefits, such as improved operational efficiency, simple architecture, easy deployment, faster time-to-market, and enhanced customer experience.
Multichannel Order Management Market
North America is expected to hold the largest market size in the multichannel order management market during the forecast period. North America is expected to dominate the overall market and is considered to be the most advanced region in terms of technological adoption. This is mainly due to the presence of various developed economies, such as the US and Canada, and their focus on innovations obtained from R&D and technology. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Several factors are expected to drive the market's significant growth in the APAC region. With the increasing pressure to achieve greater business agility, more IT organizations in the APAC region are planning to adopt the multichannel order management environment to function properly, improve operational efficiency, and reduce cost. There is a huge market potential for enterprises in this region; this potential can be leveraged to create better business opportunities.
Digital transformation, proliferation of smartphone and internet users, and multiple sale channels are expected to drive the global market. However, security and privacy concerns may hinder the market growth and act as a restraining factor that can hamper adoption rate of the multichannel order management.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Multichannel Order Management Market
4.2 Market Share of Top 4 Industry Verticals and Regions, 2018
4.3 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Booming Retail and Ecommerce Vertical
5.2.1.2 Growth in Multichannel Selling
5.2.1.3 Low Operational and Initial Costs
5.2.1.4 Rapidly Growing Number of Internet Users
5.2.2 Restraints
5.2.2.1 Security and Privacy Concerns
5.2.3 Opportunities
5.2.3.1 Emerging Potential for Online Sales
5.2.3.2 Increasing Adoption By SMEs
5.2.3.3 Technological Advancements in Machine Learning, Artificial Intelligence, and Augmented Reality
5.2.4 Challenges
5.2.4.1 Lack of Technical Expertise
5.3 Use Cases
6 Multichannel Order Management Market, By Solution
6.1 Introduction
6.2 Software
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting Services
6.3.1.2 Integration and Deployment Services
6.3.1.3 Training and Support Services
6.3.2 Managed Services
7 Market By Deployment Type
7.1 Introduction
7.2 Cloud
7.3 On-Premises
8 Multichannel Order Management Market, By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Market By Industry Vertical
9.1 Introduction
9.2 Retail, Ecommerce, and Wholesale
9.3 Manufacturing
9.4 Healthcare
9.5 Food and Beverage
9.6 Others
10 Multichannel Order Management Market, By Region
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.2 Canada
10.3 Europe
10.3.1 United Kingdom
10.3.2 Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 Rest of Asia Pacific
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Rest of Latin America
10.6 Middle East and Africa
10.6.1 Middle East
10.6.2 Africa
11 Competitive Landscape
11.1 Overview
11.2 Key Players Operating in the Multichannel Order Management Market
11.3 Competitive Scenario
11.3.1 Partnerships, Agreements, and Collaborations
11.3.2 New Product/Service Launches and Product Enhancement
11.3.3 Mergers and Acquisitions
11.3.4 Business Expansions
12 Company Profiles
12.1 Introduction
12.2 IBM
12.3 HCL
12.4 Oracle
12.5 Salesforce
12.6 SAP
12.7 Brightpearl
12.8 Freestyle Solutions
12.9 Linnworks
12.10 Sanderson
12.11 Zoho
12.12 Browntape
12.13 Channelgrabber
12.14 Cloud Commerce Pro
12.15 Contalog
12.16 Ecomdash
12.17 Etail Solutions
12.18 Geekseller
12.19 Manageecom
12.20 Primaseller
12.21 Saleswarp
12.22 Selleractive
12.23 Selro
12.24 Stitch Labs
12.25 Tradegecko
12.26 Unicommerce
12.27 Vinculum
For more information about this report visit https://www.researchandmarkets.com/research/5kd6d2/global?w=5
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