New York, US, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Multichannel Order Management Market information by Deployment Mode, by Components, by Organization Size and Region – forecast to 2027” market size is expected to grow from USD 2.07 billion in 2020 to USD 4.94 billion by 2027, at a Compound Annual Growth Rate of 12.7%.
Dominant Key Players on Multichannel Order Management Market Covered Are:
- IBM (US)
- Oracle (US)
- SAP (Germany)
- Salesforce (US)
- HCL Technologies (India)
- Zoho (India)
- Brightpearl (US)
- Stitch Labs (US)
- Selro (England)
- Linnworks (England)
- Vinculum (India)
- Freestyle Solutions (US)
- Aptean (US)
- Etail Solutions (US)
- SellerActive (US)
- Delhivery (India)
- Cloud Commerce Pro (England)
- QuickBooks Commerce (India)
- Unicommerce (India)
- SalesWarp (US)
- Contalog (India)
- Browntape (India)
- Multiorders (England)
- ManageEcom (India)
- Evanik (India)
- GeekSeller (US)
- SkuSuite (US)
- Newfold Digital (US)
- EMERGE App (Singapore)
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Multichannel Order Management (MOM) Market Drivers
Technological Advances to Boost Market Growth
Technological advances in augmented reality, artificial intelligence, machine learning, untapped potential in emerging markets, and emerging potential for online sales will boost the market over the forecast period.
Opportunities
Growing Demand for Scalability to offer Robust Opportunities
The demand for scalability is rising persistently resulting in constant upsurge of multichannel selling that may offer robust opportunities for this market in the forecast period.
Restraints
Lack of Technical Expertise to act as Market Restraint
The lack of technical expertise may act as market restraint over the forecast period.
Challenges
Privacy and Security Concerns to act as Market Challenge
The privacy and security concerns may act as market challenge over the forecast period.
Browse In-depth Market Research Report (141 Pages) on Multichannel Order Management Market:
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Segmentation of Market Covered in the Research:
The multichannel order management market is segmented based on vertical, organization size, deployment mode, and component.
By component, the services segment will lead the market over the forecast period.
By deployment mode, the cloud segment will dominate the market over the forecast period.
By organization size, the large enterprises segment will spearhead the market over the forecast period.
By vertical, the retail segment will have the lions share in the market over the forecast period.
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Regional Analysis
North America to Head Multichannel Order Management Market
North America will head the market over the forecast period. Faster adoption of advanced technologies in Mexico, Canada, and the US, the region being highly technologically advanced, the presence of several leading key players, the market being well established and mature, healthy risk appetite and an inclination towards technological innovations thereby presenting several opportunities for multichannel service providers and vendors, the presence of several multichannel order management vendors that are expanding their market presence through partnerships, alliances, and acquisitions with resellers, distributors, and system integrators, increasing investment in advanced technologies like machine learning and artificial intelligence by manufacturing industries, ecommerce, and retail, increasing technological adoption, ongoing projects, and focus on innovations obtained from R&D and technology, and more IT organizations are adding to the global multichannel order management market growth in the region.
COVID-19 Impact on the Global Multichannel Order Management Market
With the COVID-19 pandemic spreading in every corner of the globe and strongly influencing society, companies and governments are resorting to creative applications of advanced technology for restricting the spread and preserving economic opportunities. With the virus decimating the world, WHO and other leading health officials are constantly limiting the spread of the virus. With maximum employees working from home, it is vital in ensuring that they do not work from office. The multichannel order management market too has been affected substantially owing to the rising pandemic situation across the globe. The worldwide economy is experiencing unprecedented challenges from the crisis impacting countless with severe impacts on family, health, and poor financial conditions. In March 2020, the WHO announced the COVID-19 as a global pandemic leading to several countries being under lockdown. The crisis has led to minimized business activities due to government imposed lockdowns till the next notification. Owing to this, the dependency on online businesses has grown significantly to offer necessary services to consumers. This crisis has had a huge impact on the warehouse too. As the virus propagated, it made a cascading effect. An infection or transit delay in one part of the globe has a global influence leading to shutdowns due to warehouse closures or delayed or missing supplies. With the spread of the virus, the supply chain strained to keep up. The warehouse must manage various delivery choices as it transitions from selecting large cases for retail outlets to pick individual goods for end customers. Users are indeed demanding yet with the crisis increasing eCommerce demand, the multichannel distribution trend will stay for a long time. Thus, distribution centers and warehouses are looking for improved procedures, software and technology for supporting multichannel distribution. Thus increased need for multichannel order management as this offers security and robustness to the data.
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Competitive Analysis:
The global multichannel order management (MOM) market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
