In the latest report by Future Market Insights, the lead research consultant estimates the global multichannel order management market value to reach USD 3.4 billion in 2024.
The upward trajectory will continue securing growth, with projections indicating a market value of USD 8.5 billion by 2034. This equates to a moderate CAGR of 9.7% through the forecast period.
| Attributes | Key Insights |
|---|---|
| Multichannel Order Management Market Estimated Size in 2024 | USD 3.4 billion |
| Projected Market Value in 2034 | USD 8.5 billion |
| Value-based CAGR from 2024 to 2034 | 9.7% |
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The multichannel order management market rose at a 12.1% CAGR between 2019 and 2023. The global market is achieving heights to grow at a moderate CAGR of 9.7% over the forecast period 2024 to 2034.
The demand for multichannel order management solutions surged to manage orders efficiently across various sales channels, during the forecast period, as businesses expanded their online presence. The retailers increasingly adopted omnichannel retailing strategies to provide seamless shopping experiences across online and offline channels.
The trend necessitated the adoption of multichannel order management systems to synchronize inventory, orders, as well as customer data across multiple touchpoints, augmenting the market growth. Multichannel order management systems will play a crucial role in enabling businesses to witness consistent and frictionless customer journeys across all touchpoints, enhancing the market prospects.
The advent of emerging technologies such as blockchain, augmented reality, and IoT will reshape the multichannel order management landscape during the forecast period. Security solutions will have to come up to address those needs and institute really reliable data security protocols in order to remain an effective potential product in the market, as regulatory compliance becomes a critical aspect of the multichannel order management system.
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The below table showcases revenues in terms of the top 5 leading countries, spearheaded by Korea and the United Kingdom. The countries will lead the market through 2034.
Forecast CAGRs from 2024 to 2034
| Countries | CAGR |
|---|---|
| The United States | 9.9% |
| The United Kingdom | 11.0% |
| China | 10.4% |
| Japan | 10.7% |
| Korea | 11.4% |
The multichannel order management market in the United States will expand at a CAGR of 9.9% through 2034. The retailers in the country are continually adopting omnichannel retailing strategies to provide integrated shopping experiences across online and offline channels.
Consumers have been expecting consistency as well as convenience when interacting with retailers, regardless of the channel they use. Multichannel order management solutions enable the retailers to synchronize inventory, orders, and customer data across multiple channels.
The United States has a robust e-commerce ecosystem, with a large and tech savvy population that increasingly prefers online shopping. Businesses in the country are expanding their online presence and selling through multiple channels, as e-commerce continues to grow.
The multichannel order management market in the United Kingdom to expand at a CAGR of 11.0% through 2034. Businesses in the country prioritize delivering exceptional customer experiences to differentiate themselves in the competitive market landscape.
Multichannel order management solutions enable businesses to ensure fast order fulfilment, accurate inventory visibility, as well as personalized interactions across all channels. Businesses in the United Kingdom can meet the evolving expectations of consumers, by investing in multichannel order management solutions.
The country is known for its technological innovation and adoption. Businesses are increasingly making use of advanced technologies including cloud computing, artificial intelligence, and automation to streamline their operations. Integrating with these technologies offer scalability, flexibility, and accessibility, making them attractive to businesses of all sizes.
Multichannel order management trends in China are taking a turn for the better. A 10.4% CAGR is forecast for the country from 2024 to 2034. Online marketplaces play a significant role in the Chinese e-commerce ecosystem, providing platforms for businesses to reach a broader audience.
Multichannel order management solutions that integrate with popular online marketplaces enable businesses to efficiently manage orders, inventory, and fulfilment processes across multiple platforms.
Chinese businesses recognize the importance of data driven decision making and seek multichannel order management solutions that provide real time insights and analytics. Advanced analytics capabilities enable businesses to gain actionable insights into customer behavior, market trends, and operational performance.
The multichannel order management market in Japan is poised to expand at a CAGR of 10.7% through 2034. Japanese businesses must comply with various regulatory requirements related to data protection, consumer privacy, and e-commerce transactions.
Multichannel order management solutions help businesses adhere to regulatory standards such as the Act on the Protection of Personal Information and the Payment Services Act.
Many enterprises in Japan are expanding their operations into international markets, including cross border e-commerce initiatives. Multichannel order management solutions that support multi-currency transactions, multilingual interfaces, and compliance with global regulatory requirements are essential for Japanese businesses expanding globally.
The multichannel order management market in Korea will expand at a CAGR of 11.4% through 2034. The Korean government has been actively promoting digital transformation initiatives to boost economic growth and competitiveness.
Incentives, subsidies, as well as supportive policies encourage businesses to invest in digital technologies, including multichannel order management solutions. Korea has one of the highest smartphone penetration rates globally, leading to a significant portion of online transactions occurring through mobile devices.
The popularity of mobile commerce creates opportunities for businesses to optimize their multichannel order management strategies to accommodate mobile users.
The below table highlights how software segment is leading the market in terms of component, and will account for a CAGR of 9.5% through 2034.
Based on organization size, the large enterprises segment is gaining heights and will to account for a CAGR of 9.4% through 2034.
| Category | CAGR through 2034 |
|---|---|
| Software | 9.5% |
| Large Enterprises | 9.4% |
Based on component, the software segment will dominate the multichannel order management market. Software solutions for multichannel order management are often scalable and customizable to meet the unique needs and requirements of businesses of all sizes and industries.
Software solutions can be tailored to accommodate varying order volumes, product catalogs, and integration requirements. Scalability and customization options drive adoption among businesses seeking flexible and adaptable solutions.
Software solutions for multichannel order management offer a wide range of advanced features and functionality designed to streamline order processing, inventory management, and fulfilment operations across multiple sales channels.
The features include order capture, inventory visibility, order routing, shipping management, and customer relationship management integration, among others. The availability of comprehensive and feature rich software solutions drives adoption and growth in the software segment.
In terms of organization size, the large enterprises segment will dominate the multichannel order management market. Large enterprises rely on data analytics and business intelligence to gain insights into their order management processes, customer behavior, and market trends.
Multichannel order management solutions provide advanced analytics and reporting capabilities that enable large enterprises to monitor key performance indicators, identify opportunities for optimization, and make data driven decisions.
The ability to derive actionable insights from order management data drives adoption of multichannel order management solutions among large enterprises, augmenting growth in the segment. Large enterprises typically operate complex IT ecosystems consisting of multiple enterprise systems, including ERP, CRM, inventory management, and logistics systems.
Multichannel order management solutions integrate seamlessly with these enterprise systems, enabling data synchronization, process automation, and cross functional collaboration. Integration capabilities ensure that large enterprises can leverage existing investments in enterprise software and infrastructure while enhancing their order management capabilities, fueling growth in the segment.
A deep dive in the competitive landscape of the multichannel order management market states that the industry is burgeoning and giants are working day in and out to achieve goals and to stand out unique in the queue.
Company Portfolio
| Attribute | Details |
|---|---|
| Estimated Market Size in 2024 | USD 3.4 billion |
| Projected Market Valuation in 2034 | USD 8.5 billion |
| Value-based CAGR 2024 to 2034 | 9.7% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD Billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Component, Organization Size, Deployment Mode, Application, End Use Vertical, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Salesforce, Inc.; HCL Technologies Limited; Zoho Corporation; Oracle Corporation; IBM Corporation; SAP SE; Cloud Commerce Pro Ltd.; Newfold Digital Inc.; Delhivery Pvt. Ltd.; Brightpearl, Inc.; Microsoft Corporation |
The multichannel order management market is projected to reach a valuation of USD 3.4 billion in 2024.
The multichannel order management industry is set to expand by a CAGR of 9.7% through 2034.
The multichannel order management market is forecast to reach USD 8.5 billion by 2034.
Korea is set to be the top performing market, exhibiting a CAGR of 11.4% through 2034.
Software segment is preferred, and will account for a CAGR of 9.5% through 2034.
| Market Value for 2024 | USD 789.31 million |
|---|---|
| Market Value for 2034 | USD 1,672.77 million |
| Market CAGR (2024 to 2034) | 7.80% |
| Estimated Market Share in 2023 | USD 2,574.7 million |
|---|---|
| Forecasted Market Size by 2033 | USD 7,738.4 million |
| Projected CAGR (2023 to 2033) | 11.6% |
| Market Expected Value (2023) | USD 4.2 billion |
|---|---|
| Market Forecast Value (2033) | USD 12.2 billion |
| Market Expected CAGR (2023 to 2033) | 11.4% |
| Market Size (2022) | USD 3.1 Billion |
|---|---|
| Market Size (2032) | USD 6.6 Billion |
| Market CAGR (2022 to 2032) | 7.9% |
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Multichannel Order Management Market
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