The Global Multichannel Order Management Market size is expected to reach $4. 1 billion by 2027, rising at a market growth of 10. 4% CAGR during the forecast period. A multi-channel order management solution (MOM) refers to business-to-business programming developed for various types of retailers with an aim to sell their products and highlight online business.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Multichannel Order Management Market By Component, By Deployment Type, By Enterprise Size, By Vertical, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131632/?utm_source=GNW
Multichannel perform the arrangements by the executive majorly aimed to assist combine requests from various channels into a same kind of list and after the newest costs across all business changes during fluctuations in costs. For a few multichannel orders, the arrangements of the executive are used for basic needs and to manage the business on the basis of the board arrangement.
In addition to it, unique innovations such as massive information examination, computerized stores, distributed computing, and web-based media companies are emerging due to the constant advancements in the online market, associations, mainly retail locations. Moreover, this process helps in attracting a greater number of customers and increases the existing customer base.
In addition to it, the adoption rate of the global multichannel order management market is boosting due to the huge increment in retail sales & online shopping vertical, mainly in developing countries. Moreover, the demand for scalability the companies are becoming nimbler and more flexible, resulting in the constant increment in the multichannel selling, thereby boosting the requirement to embrace multichannel order management (MOM) inside the enterprises. As multichannel order management is less expensive in comparison to conventional solutions, their demand is increasing at a rapid pace.
The warehouse across the world will witness a strong impact due to the outbreak of the COVID-19 pandemic. The virus created a ripple effect while spreading at a rapid pace around the world. An outbreak or transportation delay that happened in one region of the world has an adverse impact on a worldwide scale, resulting in a closure of warehouses or completely halting or delayed supplies. The worldwide supply chain grappled to maintain its pace due to the rapidly spreading virus. The outbreak of the COVID-19 pandemic was not the reason to initiate the massive growth in eCommerce; however, it was the reason for the recent increment in the demand. Therefore, omnichannel distribution also witnessed a massive boost. Warehouses changed their approach from taking full cases for retail locations to picking products for end customers; they also required handling multiple delivery options.
Omni-channel involves allowing the customer to purchase from anywhere (in-store, online) and delivering the items where they want (shipping to home, pick up in-store, curbside pickup). This also involves the return of the product (ship to return or return in-store). The demand among the customers has always been high, but with the COVID-19 boosting the eCommerce demand, the multichannel order management trend will continue for many years to come.
Based on Component, the market is segmented into Software (Without Services) and Services. These services are worth the investments of the companies as they are highly crucial in the optimal functioning of multichannel order management solutions. Moreover, these services are helpful in facilitating the rapid and easy installation of the solutions. The growth of professional and managed services is boosted by the high adoption rate of multichannel order management software.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into Cloud and On-premise. The cloud segment would exhibit the maximum growth rate during the forecast years. The cloud deployment cloud helps in achieving higher resilience and reducing the risk, which is not the feature of the on-premises model. Some of the major benefits of the cloud are cost-efficiency, scalability, easy deployment, and adaptability, hence creating new avenues for the growth of the cloud segment across a wide range of industries. Industries across different businesses prefer the cloud model due to the lesser price and simplified installation.
Enterprise Size Outlook
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The large enterprise segment would collect the maximum revenue share of the global multichannel order management market during the forecast period.
Based on Vertical, the market is segmented into Retail, eCommerce, & Wholesale, Manufacturing, Healthcare & Life Sciences, Food & Beverages and Others. Multichannel order management can assist the eCommerce, retail, and wholesale industry to manage orders received from various channels. The constant surge in multiple sales channels among wholesale, retail, and eCommerce platforms has made it essential to have higher visibility across the complete order process life cycle.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America region is well established in terms of consumers with high disposable income as well as purchasing power, which would fuel the retail activities in this region. In addition to it, the growing number of eCommerce and retail activities and a constant surge in the number of internet users in the region would boost the growth of the regional multichannel order management market during the forecast period.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; SAP SE, Oracle Corporation, IBM Corporation and Salesforce.com, Inc. are the forerunners in the Multichannel Order Management Market. Companies such as HCL Technologies, Aptean, and Square Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Oracle Corporation, Salesforce.com, Inc., HCL Technologies Ltd. (HCL Enterprises), Zoho Corporation Pvt. Ltd., Square, Inc. (Stitch Labs, Inc.), Aptean, SalesWarp, Inc., and Etail Solutions LLC
Recent Strategies Deployed in Multichannel Order Management Market
Partnerships, Collaborations and Agreements:
Jun- 2021: IBM teamed up with Pandora, a leading designer, manufacturer, and marketer of hand-finished jewellery. This collaboration aims to assist in transforming and scaling Pandora’s global omnichannel e-commerce offerings with IBM Sterling Order Management.
Jun- 2021: Salesforce joined hands with Adyen, a Dutch payment company. Under this collaboration, Adyen introduced Order Management System for Salesforce Commerce Cloud on Salesforce AppExchange, which empowers users to get stronger insights on consumer behavior by supervising refunds, orders/stock inventory, and cancellations.
Jun-2021: SalesWarp came into partnership with GNC Holdings, a company specialized in health and nutrition related products. Through this partnership, the latter company aimed to bring products online fastly and efficiently for enabling franchise partners an easy and efficient solution to secure transactions and exchanges between GNC, GNC’s vendor partners, and GNC franchisees.
Mar- 2021: IBM collaborated with Joyalukkas, India’s leading jewellery retailer. This collaboration aimed to design, develop and implement the latest cloud-native e-commerce platform over 11 nations including UAE, India, USA, Singapore, UK, Bahrain, Qatar, Malaysia, Kuwait, Saudi Arabia, and Oman. To monitor the consistently developing nature of the jewellery business, from managing daily price irregularities of precious metals & gemstones to drawing insights from shopping patterns. The company was seeking a technology-driven solution, which would improve efficiencies, drive growth and accelerate resilience & adaptability.
Oct- 2020: SAP SE came into partnership with Roche, along with Tenthpin. Together, the companies aimed to carve the future of clinical supplies operations and synchronize clinical & commercial supply chain management systems. In addition, the companies also formed an industry consortium to collaboratively work on the new, next-generation, innovative, clinical trial supply management (CTSM) solution.
Sep- 2020: IBM joined hands with GEODIS, a Supply Chain Operator. Under this collaboration, GEODIS is combining store & online fulfillment with transportation & warehousing services powered by IBM Sterling Order Management to support optimize demand management. Along with that, GEODIS also introduced a new service, which is developed to assist retailers and consumer brands boost their omnichannel user experience offerings with the latest e-commerce fulfillment service.
May- 2020: HCL Technologies teamed up with JDA Software, the world’s leading digital fulfillment platform and end-to-end supply chain management solutions. This collaboration aimed to boost the value of JDA Commerce, SofTechnics, and Pricing and Revenue Management solutions via advancing the solutions’ architecture & shifting to a SaaS model. In this partnership, HCL Technologies would join with JDA on product support, development, and go-to-market (GTM) initiatives for JDA’s Commerce, SofTechnics, and Pricing & Revenue Management solutions.
Acquisitions and Mergers:
Mar- 2020: Aptean took over Paragon Software Systems, a market-leading provider of transportation management software solutions. This acquisition aimed to expand Aptean’s presence in the European market and add the purpose-built software developed to fulfill the increasing supply chain requirements of its customers across the world.
Oct- 2019: Aptean took over Linkfresh, a provider of enterprise resource planning solutions for the food industry. This acquisition aimed to expand Aptean’s portfolio and geographic reach of cloud-based solutions for all categories of the food industry. It also expands Aptean’s key competencies to deliver more distinct areas of the marketplace as it continues going through digital transformation.
Sep- 2019: Aptean acquired Sanderson Group, a UK-based provider of digital technology solutions, innovative software, and managed services. The acquisition aimed to expand Aptean’s presence in the European region and also invest in a settled business with expertise in enterprise resource planning (ERP), supply chain, and multi-channel retail software.
Jun- 2018: Square acquired Weebly, a web hosting service. This acquisition aimed to provide sellers, one cohesive solution to begin or grow an omnichannel business.
Product Launches and Product Expansions:
Jan- 2021: Salesforce unveiled Vaccine Cloud technology. This technology enables healthcare organizations, government agencies, non-profits, businesses, and educational institutions more swiftly, securely, and effectively implement and manage their vaccine programs. Companies can manage and implement vaccine programs for providing vaccines via Salesforce Customer 360 platform like analytics, bots, mobility solutions, and integration capabilities.
Sep- 2020: HCL Technologies launched its Avalanche hybrid cloud data warehousing service on Google Cloud and a 20 percent superior query performance in comparison implementations on Amazon Web Services (AWS) and Microsoft Azure. This product is developed to manage operational analytics workloads and provide support for industry standards like SQL, enable for the shift of legacy data warehouses like Oracle Exadata, IBM Netezza, and Teradata to Google Cloud by using Google Cloud’s hybrid & multi-cloud Anthos platform.
Jul- 2020: Salesforce introduced a new version of Salesforce Order Management for Commerce Cloud. This version of the solution supports more international markets & new localisations, along with that Salesforce has also unveiled Quick Start Commerce for Channels. It boosts the functionality of Sales Order Management into the latest social media channels like Instagram.
Jul- 2020: Aptean unveiled two new products, Aptean Pay and Aptean eCommerce. These products provide companies with modern, innovative ways to rapidly transform their operations or physical stores into an e-Commerce platform. Aptean’s latest cloud-native solutions fulfill the industry requirement for integrated tools, which assist in automating and streamlining payment processes and accelerate order fulfillment through scalable online storefronts.
Jan- 2020: IBM introduced improved capabilities that are developed in collaboration with other providers for the IBM Sterling Supply Chain platform. These capabilities help instantly resolve returns, omnichannel, and logistics challenges to enhance user experience.
Scope of the Study
Market Segments covered in the Report:
• Software (Without Services)
By Deployment Type
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises
• Retail, eCommerce, & Wholesale
• Healthcare & Life Sciences
• Food & Beverages
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IBM Corporation
• SAP SE
• Oracle Corporation
• Salesforce.com, Inc.
• HCL Technologies Ltd. (HCL Enterprises)
• Zoho Corporation Pvt. Ltd.
• Square, Inc. (Stitch Labs, Inc.)
• SalesWarp, Inc.
• Etail Solutions LLC
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