Multichannel Order Management Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Deployment (On-premises, Cloud), By Enterprise Size, By Application, By Region, And Segment Forecasts, 2023 - 2030

Multichannel Order Management Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Deployment (On-premises, Cloud), By Enterprise Size, By Application, By Region, And Segment Forecasts, 2023 - 2030

Multichannel Order Management Market Growth & Trends

The global multichannel order management market size is expected to reach USD 6.86 billion in 2030, registering a CAGR of 11.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is propelled by the expansion of the retail and e-commerce sectors, particularly in emerging economies such as India, China, and Japan. In addition, as businesses become increasingly innovative and flexible, the demand for scalability is on the rise, leading to increased adoption of multichannel selling and a greater need for multichannel order management (MOM) within organizations.

The usage of social media and e-commerce platforms for product sales has increased significantly. Businesses are using these channels to reach a larger audience and increase sales. Businesses may use multichannel order management systems to easily manage orders from various platforms, linking them with other sales channels for improved operations. According to Forbes, an estimated 20.8% of retail transactions will occur online in 2023, showing an expected increase in e-commerce revenues. Businesses have the opportunity to boost their sales and profitability as the number of online buyers grows. Whether the aim is incremental sales growth or a full-scale transformation from a startup to a large corporation, e-commerce provides tremendous chances for attaining these objectives.

As businesses expand their operations and serve customers through multiple channels, the complexity of supply chain management increases significantly. The traditional supply chain model, which primarily focuses on linear processes from manufacturing to distribution, needs to be revised to manage the complexities associated with multichannel operations. This is where multichannel order management solutions come into play, helping businesses manage inventory, order routing, and fulfillment processes across different channels. By implementing multichannel order management solutions, businesses can achieve several benefits such as improved profitability, growing customer retention, and efficient order management, among others, in managing the complexity of their supply chain, thereby minimizing the risk of stockouts and overstocking by maintaining accurate inventory levels across all channels.

Efficient fulfillment processes are crucial for the timely delivery of orders in a multichannel supply chain. With multiple sales channels, businesses need to adapt their fulfillment processes to meet the unique requirements of each channel. For instance, orders placed through an e-commerce platform may require additional packaging and labeling compared to in-store orders. Multichannel order management solutions streamline fulfillment processes, allowing businesses to define and automate specific workflows for each channel. This ensures that orders are processed accurately and efficiently, reducing errors and delays in fulfillment.

Multichannel Order Management Market Report Highlights

• Based on component, the solution segment dominated the overall market with a revenue share of 55.1% in 2022. Multichannel order management solution enables businesses to have real-time visibility and control over their inventory, orders, and fulfillment processes across all channels
• Based on deployment, the on-premises segment accounted for the largest revenue share of 56.8% in 2022. Factors such as easy customization and integration with their current systems and workflows drive the segment growth. This enables enterprises to customize the solution to their unique needs and effortlessly combine it with other on-premises applications, such as ERP systems or legacy software
• Based on enterprise size, the small and medium segment is anticipated to grow at a CAGR of over 13.1% from 2023 to 2030. For small and medium enterprises, multichannel order management can help to optimize their operations, reduce manual errors, and improve efficiency, ultimately leading to cost reduction
• Based on application, the healthcare segment is anticipated to witness strong growth with a CAGR of nearly 13.1% over the forecast period. Multichannel order management solutions integrate with other healthcare systems, such as electronic prescribing systems, pharmacy management systems, and laboratory information systems, thereby enabling seamless data exchange, automating order processing, and improving overall workflow efficiency
• North America dominated the market, contributing 29.9% of the global revenue in 2022. North America is known for its technological advancements and innovation. The region is at the forefront of digital transformation, and businesses are keen on adopting the latest technologies to gain a competitive edge

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