DUBLIN, August 03, 2021--(BUSINESS WIRE)--The "Multichannel Order Management Market Report 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global multichannel order management market size to grow from USD 2.3 billion in 2021 to USD 3.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.2%
Various factors such as COVID-19-led acceleration of organizations for new customer engagement through digital experiences, booming retail and eCommerce vertical, growth in multichannel selling, low operational and initial costs, and a rapidly growing number of internet users.
There will be a long-lasting impact of COVID-19 on the warehouse. As the virus spread throughout the world, it made a ripple effect. An outbreak or transportation delay that occurred in one part of the world had a destructive impact globally, causing shutdowns due to warehouse closures or missing or delayed supplies.
The global supply chain struggled to keep up as the virus spread. While the COVID-19 pandemic was not responsible for starting the eCommerce boom, it is certainly responsible for the recent surge in demand. Hence, omnichannel distribution also started booming.
As the warehouse shifts from picking full cases for retail locations to picking individual items for end customers, they also need to manage multiple delivery options. Omni-Channel includes letting the customer purchase from anywhere (in-store, online) and delivering the products where they like (ship to home, pick up in-store, curbside pickup). This also includes the return of the product (ship to return or return in-store).
Customers have always been demanding, but with the COVID-19 surging eCommerce demand, the omnichannel distribution trend will stay for a longer time. This leaves warehouses and distribution centers looking for advanced processes, technologies, and software to support omnichannel distribution.
The cloud segment to have the highest CAGR and largest market size during the forecast period.
By deployment mode, the multichannel order management market has been segmented into on-premises and cloud. The cloud deployment mode enables resiliency and risk reduction, which is not found in on-premises infrastructure. Cloud solutions facilitate various advantages, including scalability, adaptability, easy deployment, and cost-effectiveness, which promote the adoption of cloud deployment across organizations. The low cost and ease of implementation have made cloud a highly desirable delivery mode among organizations.
Large enterprises segment to have the largest market size during the forecast period.
The multichannel order management market has been segmented by organization size into large enterprises and SMEs. The market share of large enterprises is higher; however, the market for SMEs is expected to register a higher CAGR during the forecast period. . Large enterprises are focusing on multiple channels to reach a large number of customers and meet their expectations, which leads to the receiving order from multiple channels. Hence, these organizations are using multichannel order management solutions to avoid issues related to omnichannel and inventory management.
Among regions, APAC to hold a higher CAGR during the forecast period.
APAC is expected to grow at a good pace, due to the rising demand for advanced solutions, which are cloud-driven and cloud-supported, has resulted in the increasing demand for multichannel order management solutions in APAC, thereby resulting in increasing investments and technological advancements across industries. The market in APAC is expected to experience strong growth, as APAC organizations are rapidly adopting order management solutions to meet the demands of their customers.
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