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(I-SoftwareNews.Com, August 23, 2018 ) MarketsandMarkets expects the global multichannel order management market size to grow from USD 1.46 billion in 2018 to USD 2.44 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period. The major factors driving the market are digital transformation, proliferation of smartphone and internet users, and multiple sale channels.
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The objective of the report is to define, describe, and forecast the multichannel order management market size by solution (software and services), deployment type, organization size, industry vertical, and region. Among all solutions, the software segment is expected to hold a larger market size during the forecast period, as there is an increasing need for multichannel order management in every vertical such as retail, eCommerce, and wholesale, for scaling functions and orders at every granular level that results in an efficient system optimization and organization.
Under the deployment type, the cloud deployment segment is expected to hold a larger market size and also grow at a higher CAGR during the forecast period. The overall adoption of cloud-based solutions has been witnessed to be on the rise and is expected to gain high demand during the forecast period because of its functionalities and core features. Moreover, the additional benefits of cloud-based solutions include effectiveness while being used by multiple users, reduced upfront costs, easy rolling out of new projects, no investments on hardware, low maintenance costs, and minimized infrastructure costs.
North America is expected to hold the largest market size in the multichannel order management market during the forecast period. North America is expected to dominate the overall market and is considered to be the most advanced region in terms of technological adoption. This is mainly due to the presence of various developed economies, such as the US and Canada, and their focus on innovations obtained from R&D and technology. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Several factors are expected to drive the market’s significant growth in the APAC region. With the increasing pressure to achieve greater business agility, more IT organizations in the APAC region are planning to adopt the multichannel order management environment to function properly, improve operational efficiency, and reduce cost. There is a huge market potential for enterprises in this region; this potential can be leveraged to create better business opportunities.
Digital transformation, proliferation of smartphone and internet users, and multiple sale channels are expected to drive the global market. However, security and privacy concerns may hinder the market growth and act as a restraining factor that can hamper adoption rate of the multichannel order management.
Major vendors in the multichannel order management market include IBM (US), Salesforce (US), Oracle (US), HCL Technologies Limited (India), SAP (Germany), Zoho Corporation (India), Freestyle Solutions (US), Brightpearl (US), Unicommerce Esolutions Pvt. Ltd. (India), Cloud Commerce Pro Ltd (UK), ChannelGrabber (UK), Ecomdash (US), Primaseller (US), Stitch Labs (US), Vinculum Solutions Ltd. (India), Etail Solutions (US), Primaseller (US), Selro Ltd. (UK), SalesWarp (US), SellerActive (US), TradeGecko Pte. Ltd. (Singapore), ManageEcom (India), Contalog (India), GeekSeller, Browntape Technologies (India), Linnworks (UK), and Sanderson (UK).
Know More @ https://www.marketsandmarkets.com/Market-Reports/multichannel-order-management-market-162219804.html
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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Mr. Shelly Singh
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Source: EmailWire.Com 
Source: EmailWire.com
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