CHICAGO, Sept. 23, 2022 /PRNewswire/ -- Multichannel Order Management Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period, to reach USD 4.2 billion by 2027 from USD 2.7 billion in 2022, according to a new report by MarketsandMarkets™. A multichannel order management system unifies all the various sales channels the business employs to market its products, both online and offline. Regardless of the origin or type of the order, the multichannel order management solutions offer a single picture of all the orders. It enables the sales team to improve their customer service by ensuring that all order statuses are precise and readily available.
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As per verticals, transportation & logistic to grow at the highest CAGR during the forecast period
The Multichannel Order Management Market is segmented on verticals into retail, e-commerce and wholesale, manufacturing, and transportation & logistic. Businesses produce a large amount of data and are unable to expand without an order management system. Customers also need quick, affordable, and customized order fulfilment. Multichannel logistics is a supply chain for e-commerce that is flexible and expandable. The use of multichannel order management software not only facilitates order management but also supports real-time inventory accuracy across all websites, marketplaces, and brick-and-mortar businesses. It makes it easier for the company to carry on with business as usual in the event of any unplanned supply chain delays, which reduces risks. As per verticals, the transportation & logistic is expected to grow at the highest CAGR 10.6% during the forecast period. The transportation & logistics segment is anticipated to account for the highest CAGR in the Asia Pacific region by growing from USD 85 million in 2022 to USD 160 million in 2027 at the CAGR of 13.5% during the forecast period.
Cloud Segment to grow at the highest CAGR during the forecast period
The Multichannel Order Management Market by deployment mode is segmented into cloud and on-premises. Cloud-based multichannel order management software provides a wide choice of flexible and affordable software and services for precise, real-time delivery from worldwide inventory channels. As per deployment mode, cloud Segment is to grow at the highest CAGR of 8.2% for the Multichannel Order Management Market during the forecast period.
Large Enterprise to register the largest market size during the forecast period
The large enterprises is expected to register the largest market size during the forecast period. In comparison to SMEs, large enterprises employ multichannel order solutions and services more frequently. This is due to the affordability, high IT spending, and high economies of scale that drive the ease of adopting new technologies, products, services, and solutions in large enterprises. The use of multichannel order management software by large enterprises enables businesses to automate, streamline, and reduce costs as much as possible in the fulfilment process.
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North America is anticipated to register the largest market size during the forecast period
Due to their expanding applicability across key industry verticals, multichannel order management solutions continue to fuel business revenue growth for businesses in North America. Various small and medium-sized businesses are investing heavily to make use of their enormous and rapidly growing data and information resources. Retailers' growing emphasis on boosting customer satisfaction will likely increase investments in the sector and fuel the growth of market in this region. The vendors in this region have been at the forefront of creating cloud-based strategies and solutions, which making it easier for businesses across all industry verticals to acquire and use order management software and services without difficulty. Among the regions, North America is anticipated to register the largest market size during the forecast period.
Some of the major Multichannel Order Management Market vendors are IBM (US), Oracle (US), SAP (Germany), Salesforce (US), HCL Technologies (India), Zoho (India), Brightpearl (US), Square (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), Appian(US).
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