Multichannel Order Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Multichannel Order Management Market is segmented by Offerings (Software, Services), Deployment (Cloud, On-premise), End-user Vertical (Retail & E-commerce, Food & Beverage, Healthcare), and Geography.

Multichannel Order Management Industry Overview

Multichannel Order Management Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 10.3 %

Major Players

Multichannel Order Management Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Multichannel Order Management Market Analysis

The multichannel order management market was valued at USD 1.58 billion in 2020, at a CAGR of 10.3% during the forecast period (2021 - 2026). The Covid-19 pandemic had an effect on the Multichannel Order Management Market. The pandemic leads to disruptions in the supply chain and shrinks the disposable income of the customers, which leads to less offline shopping and boosts the online market.

  • Some of the major factors that are driving the market are the technological advancements related to the digital transformation going on in various industries, the increasing penetration of smartphones across the globe, increasing internet users, and the adoption of multiple sales channels by various organizations.
  • With the rapidly increasing retail and e-commerce market across the globe, the demand for multichannel order management solutions is increasing primarily for scaling all functions and orders at every granular level, which helps organizations form an efficient system optimization and organization.
  • The multichannel order management solutions provided by the vendors are specifically being designed to help organizations combine their orders from all the channels into the same catalog and update the latest prices across all sales channels for uniformity during changes in prices.
  • The flexibility offered by these solutions is one of the major reasons for their increased adoption. These software suites help in managing sales from various marketplaces, maintaining optimum inventory to avoid stockouts nor oversell, accurate processing of bulk orders; it also helps in tracking differentiated pricing across all the channels, which is a complex task that a multichannel platform is able to handle seamlessly with ease.

Multichannel Order Management Industry Segments

A multi-channel order management software centralizes all the different sales channels the company uses to sell its products, such as online and offline. The software provides a unified view of all the orders, despite their origin or order type. The software empowers the sales team to provide better customer service by making sure all the order statuses are accessible and accurate.

The scope of the study is currently focused on Multichannel Order Management Market. The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry. The study also tracks the impact of COVID-19 on the overall market and its performance. Detailed estimates for the next five years are included, along with the study of the major players and their strategies.

By Offerings
Software
Services
By Deployment
Cloud
On-premise
By End-user Vertical
Retail & E-commerce
Food & Beverage
Healthcare
Other End-user Verticals
By Geography
North America
United States
Canada
Europe
United Kingdom
Germany
Rest of Europe
Asia Pacific
China
Japan
Rest of Asia Pacific
Latin America
Middle East and Africa

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Multichannel Order Management Market Trends

This section covers the major market trends shaping the Multichannel Order Management Market according to our research experts:

Retail and E-commerce Segment is Expected to Witness Significant Growth

  • Digital media has played a vital role in transforming the retail industry with its huge consumer reach. Consumers have become more preferential about when and how they want to be reached by a brand.
  • This trend has given rise to the scenario where a product's marketing initiative and the inventory across multiple sales channels should match, thereby providing the consumer the desired and consistent shopping experience.
  • This need for consistency and clarity in market communication and stock availability across channels is expected to drive the market forward.
  • The multiple sales channel are no longer exclusive to each other. They overlap each other and can be effectively used by brands to provide enhanced brand experience to the consumers.
  • Multichannel retailers are increasingly adopting innovative strategies primarily to cater to the rapidly changing consumer preferences and to be able to handle the huge orders of multichannel retailing efficiently.
  • With the rapid growth of the online market, retailers nowadays are adopting innovative technologies, such as big data analytics, cloud computing, digital stores, and social media networks. With the increasing competition in this sector, customer experience has proven to be a crucial differentiating factor among online shopping options.
Multichannel Order Management Market: Frequency of Ordering From Fresh E-Commerce Platforms in China 2020

Asia Pacific is Expected to Witness Significant Growth

  • Across the Asia Pacific region, shopping malls, grocery stores, supermarkets, convenience stores, and hypermarkets are getting a digital upgrade designed primarily to stay competitive in the next generation of shopping experiences.
  • With the advent of technological innovations in the market like facial recognition, rapid-fire delivery, digital payments, big data, and shopping experience tailored to the consumer needs, the retail experience is primarily being designed to be seamless, fast, and convenient.
  • These advancements have combined the physicality and accountability of an offline store with the speed and ease of online shopping and have changed the entire brick-and-mortar retail experience. These factors are expected to drive the demand for order management solutions during the forecast period.
  • Moreover, retailers in the region are also entering into strategic partnerships. For instance, JD.com, one of China’s largest retail companies, has been rolling out what it calls ‘boundaryless retail’ via partnerships with some of the major western players, including Walmart and Intel.
  • Also, retailing in India is somewhat unorganized. There is a need for effective supply chain management. The main factors that drive the growth of organized retailing in India are ris­ing urbanization, higher disposable incomes, growing consumerism, and a nuclear family structure. These factors in the country are expected to fuel the demand for order management solutions.
Multichannel Order Management Market- Growth Rate by Region (2021 - 2026)

Multichannel Order Management Market Competitor Analysis

The multichannel order management market is highly competitive owing to the presence of many large and small players in the market providing software and services to domestic as well as in the international markets. The market appears to be moderately fragmented and is moving towards the fragmented stage. The major players in the market are adopting strategies like product and service innovation and mergers and acquisitions to expand the functionality of their product portfolio and to stay competitive in the market. Some of the major players in the market are IBM Corporation, HCL Technologies Limited, Oracle Corporation, Salesforce.com, Inc. among others.

  • April 2021 - IBM announced that it is working with Parle Products Pvt Ltd (Parle), the largest selling biscuit brand in India, to help it move quickly and effectively bring its products to market by leveraging IBM Cloud. Parle will leverage IBM's transformative hybrid cloud and AI capabilities, along with its leading security and industry expertise with IBM's business consulting and technology services.
  • August 2021 - Oracle MICROS Simplony Point-of-Sale (POS) is helping Corporativo GES, which operates more than 30 Burger King and Church's Texas Chicken franchises in Mexico. With the pandemic putting a strain on restaurants, the fast-growing operator knew it needed to move to the cloud to improve the efficiency of its operations to manage its entire business on just one system remotely. With built-in restaurant data and analytics, the operator can make faster, more informed decisions and is increasing diner satisfaction by improving the order and payment process, speeding counter and drive-thru service, and better managing its menu and customer promotions.

Multichannel Order Management Market Top Players

  1. IBM Corporation

  2. HCL Technologies Limited

  3. Oracle Corporation

  4. Salesforce.com, Inc.

  5. SAP SE

*Disclaimer: Major Players sorted in no particular order

Multichannel Order Management Market Concentration

Multichannel Order Management Market Recent Developments

  • September 2021 - IBM announced the new IBM Power E1080 server, the first in a new family of servers based on the new IBM Power10 processor, designed specifically for hybrid cloud environments. The IBM Power10-equipped E1080 server is engineered to be one of the most secured server platforms and is designed to help clients operate a secured, frictionless hybrid cloud experience across their entire IT infrastructure.
  • March 2021- IBM announced that Joyalukkas, India’s leading jewelry retailer, is collaborating with IBM Global Business Services (GBS) to design, develop and deploy a new cloud-native e-commerce platform across 11 countries, including India, UAE, USA, UK, Singapore, Malaysia, Bahrain, Qatar, Saudi Arabia, Kuwait, and Oman. Joyalukkas Jewellery, part of the Joyalukkas Group - a multi-billion-dollar global conglomerate - is one of the fastest-growing jewelry chains globally, with 160 showrooms across 11 countries. To navigate the constantly evolving nature of the jewelry business, from handling daily price fluctuations of precious metals and gemstones to drawing insights from shopping patterns, the company was looking for a technology-driven solution that would enhance efficiencies, drive growth and boost resilience and adaptability.

Multichannel Order Management Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Retail and E-commerce Market

      2. 4.2.2 Growth in Multichannel Selling

    3. 4.3 Market Restraints

      1. 4.3.1 Security and Privacy Concerns

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Offerings

      1. 5.1.1 Software

      2. 5.1.2 Services

    2. 5.2 By Deployment

      1. 5.2.1 Cloud

      2. 5.2.2 On-premise

    3. 5.3 By End-user Vertical

      1. 5.3.1 Retail & E-commerce

      2. 5.3.2 Food & Beverage

      3. 5.3.3 Healthcare

      4. 5.3.4 Other End-user Verticals

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 Rest of Asia Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 IBM Corporation

      2. 6.1.2 HCL Technologies Limited

      3. 6.1.3 Oracle Corporation

      4. 6.1.4 Salesforce.com, Inc.

      5. 6.1.5 SAP SE

      6. 6.1.6 Zoho Corporation

      7. 6.1.7 Brightpearl

      8. 6.1.8 Linnworks

      9. 6.1.9 Cloud Commerce Pro Ltd

      10. 6.1.10 Freestyle Solutions, Inc.

      11. 6.1.11 Sanderson

      12. 6.1.12 Unicommerce eSolutions Pvt. Ltd.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. INVESTMENT ANALYSIS

**Subject to Availability
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Multichannel Order Management Market Research FAQs

The Multichannel Order Management Market is studied from 2018 - 2028.

The Multichannel Order Management Market is growing at a CAGR of 10.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

IBM Corporation, HCL Technologies Limited, Oracle Corporation, Salesforce.com, Inc., SAP SE are the major companies operating in Multichannel Order Management Market.

Multichannel Order Management Industry Reports

In-depth industry statistics and market share insights of the Multichannel Order Management sector for 2020, 2021, and 2022. The Multichannel Order Management research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Multichannel Order Management report PDF.

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