Home Retail Global Retail Omni-Channel Commerce Platform Market Report 2022: Market to Reach $14.6 Billion by 2026

Global Retail Omni-Channel Commerce Platform Market Report 2022: Market to Reach $14.6 Billion by 2026

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Dublin, November 22, 2022 (GLOBE NEWSWIRE) — The “Retail Omnichannel Commerce Platform: Analysis and Trajectory of the Global Market” report has been added to researchandmarkets.com offering.

The global market for omnichannel retail platforms will reach $14.6 billion by 2026

The global market for omnichannel retail platform estimated to be US$8 billion in 2022 is projected to reach a revised size of US$14.6 billion by 2026, registering a compound annual growth rate (CAGR) of 16.4% during the period.

The United States represents the largest regional market for the retail omnichannel commerce platform and is projected to reach US$4 billion by 2026.

The omnichannel retail platform can be described as a cross-channel business model used by retailers to improve the overall shopping experience for customers. By involving an omnichannel strategy that takes into account the various platforms and devices that customers will use to interact with the business, the omnichannel sales approach is designed to deliver an integrated shopping experience to customers using information drawn from multiple channels.

Retail Omni-Channel Commerce Platform is a software tool designed to support the omni-channel retail strategies of brands and retailers. Key benefits with the omnichannel commerce platform include end-to-end integration of online and offline stores, dynamic order allocation, integrated omnichannel order management, centralized inventory management, simplified logistics, and convenient returns management.

Furthermore, the platform comes with seamless integration with ERPs and can regularly generate data, which supports the analytical approach. Effective internal organization, proper customer analytics capabilities, data quality, and the ability to identify customers on shopping trips are some of the focus areas that potentially enhance omnichannel retail platforms.

Like other software tools, the omnichannel platform is available on-premises and in cloud-based SaaS versions. The Omni-Channel Commerce Platform is very useful in FMCG, apparel and footwear, consumer electronics, hospitality, and various other retail sectors. Given the significant advantages that an omnichannel strategy offers, an increasing number of retailers are looking to build a multi-channel presence rather than restrict themselves to online or store formats.

The promise of an integrated shopping experience for customers across robust physical stores and across multiple online channels such as desktop or mobile and social media or online websites or digital touchpoints such as kiosks or smart shelves , continues to drive retailers towards omnichannel platforms. The past few years have seen the retail industry disrupted through the advent of a number of digital touch points, such as smart shelf technologies, self-service tablets, and interactive kiosks.

The growing importance of these technologies can be seen in the fact that around 45-50% of US retail sales are known to be influenced by digital touchpoints. Consequently, in a retail industry affected by increased competition, the advent of new technologies, and changing consumer behavior, omnichannel retail is emerging as an effective solution for the industry to adapt and respond to challenges.

One of the major factors influencing the growth of the global omnichannel retail platform market is the rapid growth of e-commerce sales across the globe. In both developed and developing economies, e-retail is experiencing exponential growth and emerging as the preferred sales channel among customers.

The increasing penetration of low-cost Internet services and the rapid increase in the sales and use of mobile devices, specifically smartphones, are the main contributors to the growth of retail sales through online channels. With eCommerce being considered one of the key channels in the omnichannel commerce ecosystem, the rapid growth of the ecommerce industry has huge positive implications for the omnichannel commerce platform retail market.

Several leading retailers are adopting an omnichannel retail strategy to take advantage of the e-commerce opportunity and also drive traffic and sales in physical stores. The need to provide a seamless shopping experience for customers continues to be the main factor driving omnichannel commerce platform adoption among retailers. Small and midsize retailers are also harnessing the potential of omnichannel, investing in the platform to survive intensely competitive conditions.

By region, the omnichannel commerce platform is widely adopted among North American retailers, with Europe also showing a favorable growth outlook for the market. Strong growth in the online shopping market and high adoption of digital technologies are driving growth in developed regions.

Although a new concept in Asia, US retailers have long been adopting omnichannel solutions, primarily to drive online sales to their physical outlets. Asia-Pacific presents a considerable growth opportunity for the omnichannel retail platform due to the strong growth being witnessed in the e-commerce market coupled with the increasing adoption of click and collect. A major challenge facing the global omnichannel platform market is the high cost incurred in implementing the omnichannel platform and installing the software.

What’s new for 2022?

  • Global competitiveness and percentage market shares of key competitors

  • Market presence across multiple geographies – Strong/Active/Niche/Trivial

  • Peer-to-peer online interactive custom updates

  • Access to a research platform and digital archives

  • Free updates for one year

Key topics covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. OVERVIEW OF THE MARKET

  • Influencer Market Insights

  • World Market Trajectories

  • Omni-Channel Retail Platform – Allowing retailers to establish a presence across multiple channels and platforms

  • Competitive Scenario

  • Retail Omnichannel Commerce Platform: Percentage Market Share of Global Key Competitors in 2022 (E)

  • Competitive Market Presence: Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

  • Impact of Covid-19 and an impending global recession

2. FOCUS ON SELECTED PLAYERS (Total 36 Highlights)

  • Aptos, Inc.

  • Citixsys Americas – iVend Retail

  • Cognizant Technology Solutions Corporation

  • Diebold Nixdorf, Inc.

  • dunnhumby limited

  • fujitsu limited

  • HCL Technologies Limited

  • Infor Global Solutions, Inc.

  • infosys limited

  • Magento, an Adobe company

  • microsoft corporation

  • NCR Corporation

  • oracle corporation

  • International Professional Retail

  • Salesforce.com, Inc.

  • SE from SAP

  • Toshiba Corporation

3. MARKET TRENDS AND DRIVERS

  • With brick-and-mortar retailers losing their luster, omnichannel is emerging as the strategy to survive and thrive

  • The traditional retail market seeks to revive with the omnichannel strategy

  • Omnichannel strategy to be an integral part of the e-commerce market

  • Rapid Ecommerce Sales Growth: Potential Opportunity for the Omnichannel Retail Market

  • Comparison of omnichannel and multichannel retail

  • Mobile technology emerges as the primary platform for connecting online and in-store consumer experiences

  • Growing use of mobile devices for retail sales: an opportunity for retailers to maximize the value of omnichannel platforms

  • Mobile shopping apps have top priority in omnichannel retail

  • OmniChannel Order Management – ​​Enabling order management across all retail channels

  • Omnichannel Order Fulfillment in Retail: Simplifying and Automating Retail

  • Next-generation consumers drive the omnichannel retail market

  • Food retail industry moves towards omnichannel retail

  • Omnichannel innovations transform the supermarket and drugstore market

  • Omnichannel retail seeks to harness the power of geospatial analytics

  • Phygital: the latest concept to replace the omnichannel strategy

  • Advanced technologies revolutionizing the omnichannel retail space

  • Emerging technologies with significant implications for the omnichannel retail space

  • Innovations help blur the lines between digital and in-store shopping

  • A look at select brands with exceptional omnichannel experiences

  • Select popular omnichannel ecommerce software and platforms

  • Main challenges that retailers face when adopting the omnichannel strategy

4. WORLD MARKET OUTLOOK

third REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information on this report, visit https://www.researchandmarkets.com/r/9x5lhh

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