As the retail industry grows, there is a visible shift in the way where companies are more and more investing in adopting e-commerce for a more convenient shopping experience than before. On this, Market Research Future study reveals that the global omnichannel retail commerce platform market is likely to expand at a CAGR of 21.48% and achieving a valuation of approximately USD 11.01 billion by the forecast period 2018–2023.
Market Key Trends & Challenges
The market’s most significant headwind factor behind its growth is attributed to an unexpected increase in the adoption of e-commerce. At present, e-commerce has become a popular sector that has created convenient online shopping purposes, coupled with the rising adoption of smartphones and tablets. The emergence of multi-channel and its approach has enabled retailers with enhanced operational efficiency that has served the market of omnichannel retail commerce platform in a significant way. By such a step, the retailer observed an increase in their sales and profits. In fact, the retailers also got an added advantage of knowing the customer behavior and purchasing habits, resulting in reduced store traffic and minimized their expenses. These core activities have made the market to inflate radically and achieve more valuation in the coming years.
At the same time, more factors coming up for the growth of the market are attributed to the multiple fields of retailing that have come with an array of opportunities in the market. It has mostly benefitted the end-use segments and its various variants, such as the consumer electronics segment and the fashion segment. These segments are thus probable to have significant growth in the omnichannel retail commerce platform market in the forecast period. Sensing the opportunity, there has been amplified adoption of mobile phones as well, which is leading with an increase in the e-commerce sector. All these factors are thus portraying the market to achieve higher valuation in the foreseeable years.
E-commerce has witnessed a significant rise in adoption across both developed and developing countries worldwide. With this, global sales through the online platform are on a robust growth trajectory with a burgeoning penetration of the internet as well as increased smartphone adoption. The study by MRFR projects that the top retailers have already adopted the retail omnichannel commerce platform intending to provide a seamless shopping experience to their customers. Thus, with advanced technologies and necessary resources, small and medium-sized retailers are also expected to start investing in this software to sustain in the global market to compete with leading and well-established top e-retailers. Therefore, all these factors are making the global omnichannel retail commerce platform to expand rapidly in the forecast period.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6956
The global market for the omnichannel retail commerce platform has been dissected concerning the elements of the SaaS platform and On-Premise deployment mode.
Concerning with solution, the market gets bifurcated into order management, e-Commerce, Point of Sales, CRM, retail order broker cloud service, warehouse management, others.
Concerning vertical, the market gets bifurcated into FMCG, apparel & footwear, consumer electronics, and others.
The global market for the omnichannel retail commerce platform is further studied among the key regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among these regions, North America can be the owner of the largest market share owing to a high level of digitization, along with a significant increase in online sales as compared to offline sales.
The Asia-Pacific region is also in the line of expectancy to become the fastest-growing region due to the massive e-commerce market as well as increasing adoption of click and collect system. This is driving the growth of the omnichannel retail commerce platform market in this region. Even in this region, the rise in internet penetration, along with the growth of the online retail sector has also been essential factors delivering a positive impact on the growth of this market. Rising demand for omnichannel platforms, particularly in emerging countries such as Japan, China, and India, is driving the market growth.
Next is the European region, which also has a massive opportunity to display significant growth in the omnichannel commerce platform in the forecast period.
The regions of the Middle East & Africa and South America also have the right intentions to contribute toward the growth of the market with lucrative opportunities in the long run.
Major Key players
The primary active, vital players in the omnichannel retail commerce platform market are listed as Cognizant Technology Solutions Corp (US), IBM Corporation (US), Salesforce.com (US), NCR Corporation (US), SAP SE (Germany), Oracle Corporation (US), Diebold Nixdorf AG (Germany), Infosys Ltd (India), Toshiba Corporation (Japan), and Infor Global Solutions Inc (US).
There are other players also investing heavily in the omnichannel retail commerce platform market, they are iVend Retail (US) Dunnhumby (UK), and Retail pro international (US).
Browse Complete Report @ https://www.marketresearchfuture.com/reports/omnichannel-retail-commerce-platform-market-6956
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar