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Multichannel Order Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 131 Pages
  • October 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 4897137

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.

Key Highlights

  • 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.

Key Market Trends

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.

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.

Competitive Landscape

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.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Retail and E-commerce Market
4.2.2 Growth in Multichannel Selling
4.3 Market Restraints
4.3.1 Security and Privacy Concerns
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Offerings
5.1.1 Software
5.1.2 Services
5.2 By Deployment
5.2.1 Cloud
5.2.2 On-premise
5.3 By End-user Vertical
5.3.1 Retail & E-commerce
5.3.2 Food & Beverage
5.3.3 Healthcare
5.3.4 Other End-user Verticals
5.4 By Geography
5.4.1 North America United States Canada
5.4.2 Europe United Kingdom Germany Rest of Europe
5.4.3 Asia Pacific China Japan Rest of Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 HCL Technologies Limited
6.1.3 Oracle Corporation
6.1.4 Salesforce.com, Inc.
6.1.5 SAP SE
6.1.6 Zoho Corporation
6.1.7 Brightpearl
6.1.8 Linnworks
6.1.9 Cloud Commerce Pro Ltd
6.1.10 Freestyle Solutions, Inc.
6.1.11 Sanderson
6.1.12 Unicommerce eSolutions Pvt. Ltd.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • IBM Corporation
  • HCL Technologies Limited
  • Oracle Corporation
  • Salesforce.com, Inc.
  • SAP SE
  • Zoho Corporation
  • Brightpearl
  • Linnworks
  • Cloud Commerce Pro Ltd
  • Freestyle Solutions, Inc.
  • Sanderson
  • Unicommerce eSolutions Pvt. Ltd.