Market Highlights
The major factors driving the growth of the multichannel order management market are the growing number of internet users and growth in multichannel selling. The development of the multichannel sales strategy implies that managers must seek convergence, or at the very least some degree of consistency, between the many channels. However, the lack of technical expertise is expected to hinder the global market growth. Nevertheless, the emerging potential for online sales opportunities is likely to prove to be lucrative for the vendors operating in the multichannel order management market.
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The global multichannel order management market is expected to register a CAGR of ~12.7% during the forecast period, 2021–2027. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the multichannel order management market to offer a better glimpse into the coming years.
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Competitive Analysis
The global multichannel order management market is characterized by the presence of several regional and local providers. Some of the key players in the market 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), and EMERGE App (Singapore).
Segmentation:
The global multichannel order management market has been segmented on the basis of component, deployment mode, organization size, vertical, and region.
Based on the component, the multichannel order management market has been divided into solution, software, and service. The service segment comprises professional services, consulting services, integration and deployment services, training & support services, and managed services. These services are critical for the operation of MOM solutions, ensuring faster and easier deployment and maximizing the value of corporate investments. The increasing use of multichannel order management software is projected to increase the need for professional and managed services.
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By deployment mode, the multichannel order management market has been segmented into cloud and on-premises. Cloud-based software synchronizes all sales channels, whether online or in-store, and improves fulfillment processes, allowing sellers of all sizes to expand their companies while delivering excellent service to pleased consumers. Cloud-based multichannel order management software provides a comprehensive range of agile and cost-effective software and services for accurate, real-time delivery from worldwide inventory channels in order to accomplish on-time order fulfillment.
By organization size, the multichannel order management market has been segmented into small and medium-sized enterprises (SMEs) and large enterprises. MOM helps companies of all sizes solve their business problems. However, small business features, pricing, setup, and installation differ from businesses of other sizes.
By vertical, the multichannel order management market has been segmented into retail, e-commerce, and wholesale, manufacturing, healthcare & life sciences, food & beverages, and other verticals. The other segment is further divided into automotive and pharmaceuticals. In the retail sector, brands sell their products directly to consumers and other vendors, both in-person and online. The process of making products available to customers through more than one sales channel is known as multichannel retailing. Multichannel retailing involves various sales channels, including e-commerce websites, physical stores, marketplaces, comparison shopping engines, social media platforms, and other online channels. In the e-commerce sector, the development of different sales channels among retail, eCommerce, and wholesale businesses has demanded higher awareness across the whole purchase process life cycle. In the manufacturing sector, the MOM process is used to streamline order fulfillment activities by integrating order management processes with fulfillment, shipping, and inventory tracking systems. Furthermore, the healthcare sector is introducing a MOM model that enables interaction between different health services actors such as patients, nurses, doctors, administrative staff pharmaceutics, and technicians across multiple channels in different contexts without losing information.
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Regional Analysis
The regional analysis for the global multichannel order management market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America accounted for the largest market share in 2020, and it is expected to register strong growth during the forecast period. The region is expected to have the largest market share in the multichannel order management market because it is a mature and well-established market with a healthy risk appetite and a propensity for technological innovations, presenting a plethora of opportunities for MOM vendors and service providers. However, Asia-Pacific is experiencing tremendous growth due to various factors, including the expansion of local businesses and government programs aimed towards AI development. The major countries in the region are technologically advanced and provide significant investment and income potential. The growth of the multichannel order management market in Asia-Pacific is expected to be influenced by the growing adoption of modern technologies and the increasing number of SMEs. The increasing technological adoption, focus on innovations obtained from R&D and technology, more IT organizations, and ongoing projects are expected to boost the growth of the Asia-Pacific market.
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Multichannel Order Management Market Research Report: Information by Component [Solution, Software, and Services (Professional Services, Consulting Services, Integration and Deployment Services, Training and Support Services, and Managed Services)], Deployment Mode (Cloud and On-Premises), Organization Size (Large Enterprises and Small and Medium-Sized Enterprises (SMEs)), Vertical (Retail, eCommerce, and Wholesale, Manufacturing, Healthcare & Life Sciences, Food & Beverages, and Other Verticals (Automotive and Pharmaceuticals)), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2027
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