Technological advancement and increasing internet users is projected to magnify growth in the global Multichannel Order Management Market

The market for multichannel order management was estimated to be worth USD 2.6 billion in 2022, and it is anticipated to grow at a CAGR of 9.64% over the course of the forecast period to reach USD 4.5 billion by 2028.

Covid-19 Impact & Market Status

The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post pandemic times.

The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.

The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global Multichannel Order Management chip market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.

These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries. 

Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global Multichannel Order Management market towards steady growth and systematic progression.

Amidst the pandemic, aligning with new dynamics, global Multichannel Order Management market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.

In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global Multichannel Order Management market.

Multichannel Order Management for cloud segment to Sustain the Highest Revenues, Followed by on-premise

Cloud based solutions are appealing to large organizations, which have the capabilities of hosting these systems on their own, on a large scale. Enhanced security and control in multichannel order management over larger scale drive the demand for cloud based system. In addition, cloud-based system can be easily integrated with internet and other resources which is adding up to its advantage. On ther hand, the on-premise segment is anticipated to grow at the significant CAGR over the forecast period.

Retail Multichannel Order Management application Segment to be the Most Lucrative

Rising demand to manage and monitor larger consumer data is expected to boost the need for multichannel order management solution in retail & e-commerce sector. Moreover, the growing adoption of advanced technologies such as big data, IoT analytics is anticipated to bolster the market growth. Retail segment is anticipated to account for largest revenue share. The manufacturing segment is estimated to lucrative growth opportunity for market growth.

APAC to Sweep the Largest Revenue Streams Followed by North America

APAC is the largest contributor to this market, followed by Europe and then North America. In Asia, the presence of nations like China and India, with their massive subscriber bases and constantly shifting regulatory and competitive landscapes, has raised demand for Multichannel Order Management systems. North America, on the other hand, is confronted with the challenges of a deregulated telecom sector.

Further, game type such as the racing is one of the fastest growing segment in application which in turn is favoring rampant expansion of the global Multichannel Order Management market across regions such as North America and Asia Pacific. Consumer preferences for enhanced customer service with real-time billing experience is expected to gain traction in the global Multichannel Order Management market.

Growing retail and e-commerce sector is expected to offer new opportunities in the global Multichannel Order Management market

A multi-channel order management software consolidates all of the company's multiple sales channels, such as online and offline, into one place. Regardless of order origin or kind, the programme delivers a uniform view of all orders. By ensuring that all order statuses are accessible and correct, the software enables the sales team to provide superior customer support. A multichannel order management system (MOM) is e-commerce-focused business-to-business software built for various merchants to sell their items. Multichannel order management solutions are specifically developed to help integrate orders from several channels into a single catalogue and broadcast the most recent prices across all sales channels when prices change. For basic needs and as a commerce management solution, some multichannel order management solutions are used. Furthermore, as the online market grows, businesses, particularly retail outlets, are implementing cutting-edge technology such as big data analytics, digital storefronts, cloud computing, and social media.

One of the main reasons for their rising use is the flexibility that these solutions provide. These software suites aid in managing sales from various marketplaces, maintaining optimal inventory to avoid stockouts and overselling, and accurate processing of bulk orders; it also aids in tracking differentiated pricing across all channels, which is a difficult task that a multichannel platform can handle seamlessly and efficiently. COVID-19-led acceleration of organisations for new customer engagement through digital experiences, booming retail and eCommerce verticals, growth in multichannel selling, low operational and initial costs, and rapidly growing number of internet users are expected to drive the adoption of multichannel order management solutions and services. Although the COVID-19 pandemic did not cause the eCommerce boom to begin, it is undoubtedly to blame for the recent rise in demand. As a result, omnichannel distribution exploded. The warehouse must manage different delivery choices as it transitions from choosing large cases for retail outlets to picking individual goods for end customers. Customer purchases can be made anywhere (in-store or online) and things can be delivered wherever they want (ship to home, pick up in-store, curbside pickup).

The global multichannel order management solution market is being driven by an increase in retail sales and online purchasing, particularly in emerging nations. According to a report by the India Brand Equity Foundation, India's e-commerce industry is rapidly expanding, with the country on track to surpass the United States and become the world's second largest e-commerce market by 2034. Furthermore, as businesses become more nimble and flexible, the demand for scalability continues to climb, resulting in an increase in multichannel selling and the requirement for multichannel order management (MOM) solutions inside businesses. Globally, demand for multichannel order management solutions is growing since they are less expensive than traditional solutions. In addition, the number of internet users continues to rise rapidly around the world, driving demand for multichannel order management (MOM) systems. The rate of internet adoption continues to rise rapidly in economies such as India and China. Cloud-based solutions' benefits, such as scalability and cheap maintenance costs, are driving their growth.

Customers' post-crisis expectations for digital experiences will continue to climb as they go digital and stay digital. As a result of the lockdowns in various regions, businesses are seeing dramatic changes in online sales. As a result, businesses are offering a variety of options and platforms for online shopping in order to reach customers and deliver goods to their homes. The time it takes to build relationships with clients has shrunk dramatically. Consumers have become more ready and capable of using digital interaction tactics as they have spent more time at home. Individuals who previously opposed digital platforms for online consultations, such as eCommerce, mobile finance, and video meetings, are now becoming digitally engaged customers. However, multichannel order management raises security and privacy concerns for businesses. They handle sensitive information that must be safeguarded to avoid data breaches and theft, which can harm a company's reputation.

The major players of the global Multichannel Order Management market are IBM Corporation, Oracle Corporation, SAP SE, Salesforce.com, inc, HCL Technologies Limited, Zoho Corporation Pvt. Ltd., Brightpearl, Stitch Labs, Selro Ltd., Linnworks, Vinculum Solutions Pvt. Ltd., Freestyle Solutions, Aptean, Etail Solutions, SellerActive, Inc., Delhivery Pvt Ltd, Cloud Commerce Pro Ltd, QuickBooks Commerce, Unicommerce eSolutions Pvt. Ltd., and SalesWarp.

The Multichannel Order Management market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate into the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst Covid-19 impact.

Latest Innovations in the Global Multichannel Order Management Market: a Snapshot

• In August 2021, Oracle MICROS Simplony Point-of-Sale (POS) is helping Corporativo GES, which operates more than 30 Burger King and Church's Texas Chicken franchises in Mexico. With the pandemic putting a strain on restaurants, the fast-growing operator knew it needed to move to the cloud to improve the efficiency of its operations to manage its entire business on just one system remotely.
• In April 2021, IBM announced that it is working with Parle Products Pvt Ltd (Parle), the largest selling biscuit brand in India, to help it move quickly and effectively bring its products to market by leveraging IBM Cloud. Parle will leverage IBM's transformative hybrid cloud and AI capabilities.

Multichannel Order Management Market Scope

Key Segments of the Global Multichannel Order Management Market

Type Overview, (USD Billion)

• On-premise
• Cloud

Application Overview, (USD Billion)

• Retail
• Manufacturing
• Healthcare
• Food and Beverages
• Automotive
• Others

Regional Overview, (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Rest of Asia Pacific

South America

• Mexico
• Brazil
• Rest of South America

Middle East and South Africa