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Market HighlightsMarket research Future (MRFR) in their report on the omnichannel retail commerce platform industry reported a possibility of garnering a valuation of USD 11.01 billion by the end of 2023. Omnichannel retail commerce platform is a space provided by retailers that integrate several nodes to establish strong communication with customers and increase their customer-centric approach to increase sales. The global omnichannel retail commerce platform market is expected to record 21.48% CAGR over the review period (2018-2023).
Several factors such as the increasing inclusion of e-commerce segment for a better online shopping experience and a surge in the sale of smartphones and tablets can help the omnichannel retail commerce platform market flourish during the assessment period. The operational flow increases with the incorporation of omnichannel retail commerce platform industry into businesses which is backing up the market growth. The method is also efficient in understanding customer behavior which is necessary for curbing expenses.
On the contrary, the high initial investment for the omnichannel retail commerce platform is likely to restrain the market growth during the review period. Moreover, the complexities involved in the supply chain can restrict the growth of the market.
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Major Key players
• IBM Corporation (US),
• Cognizant Technology Solutions Corp (US),
• NCR Corporation (US),
• Salesforce.com (US),
• Oracle Corporation (US),
• SAP SE (Germany),
• Toshiba Corporation (Japan),
• Diebold Nixdorf AG (Germany),
• Infosys Ltd (India),
• Infor Global Solutions Inc (US).
Other players in the omnichannel retail commerce platform market are Dunnhumby (UK), iVend Retail (US) and Retail pro international (US).
According to MRFR, Global Omnichannel Retail Commerce Platform Market is expected to grow from USD 2.99 billion in 2017 to USD 11.01 billion by 2023, at a compound annual growth rate (CAGR) of 21.48% during the forecast period.
Industry Updates
In April 2019, Zoho came up with a new omnichannel platform, known as Commerce Plus. This has a base built by Zoho’s Zoho One. The latter’s analytics, finance, customer experience, and intelligence software can help Commerce Plus in every aspect of the market. In their endeavor, they are trying to keep their process as simple as possible for their customers.
Segmentation.
The omnichannel retail commerce platform market has been segmented on the basis of deployment, solution, and vertical.
By mode of deployment, the omnichannel retail commerce platform market includes SaaS platform and on-premise deployment mode.
By mode of the solution, the omnichannel retail commerce platform market includes CRM, e-commerce, order management, warehouse management, retail order broker cloud service, point of sales, and others. The e-commerce sections growth is expected to take the market forward.
By mode of vertical, the omnichannel retail commerce platform market comprises apparel & footwear, FMCG, consumer electronics and others. The apparel & footwear section is doing substantially good. Regional markets like China and India are gaining more traction from this segment.
Regional Analysis
Geographically, the omnichannel retail commerce platform market, ensures revelation of growth pockets by keeping the discussion much focused on regions namely - North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
Superiority in terms of digital infrastructure and high adoption of the latest technologies are expected to provide both North America and Europe substantial traction. These markets are also expecting much profit owing to the presence of several market leaders. Their strategies are helping the market in providing customers with a seamless experience which opening up possibilities for further market expansion. The market is also benefitting from high investment potentials which are leading towards strong research and development.
The Asia Pacific region is getting mostly dominated by China owing to its pervasive approach in the e-commerce segment with apparels and footwear. Online shopping and e-commerce segment are prospering in China which is also providing the regional market opportunities for further exploration. India, among the other, is also a huge market which is showing immense expansion potentials. High intake of smartphones and better internet plans are also creating a favorable ground for the omnichannel retail commerce platform market.
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Intended Audiences
• E-commerce websites
• Marketing agencies
• Services providers and distributors
• Advertising firms
• Enterprises
• Research institutes, organizations, and consulting companies
LIST OF TABLES
Table 1 Global Omnichannel Retail Commerce Platform Market, by Region, 2018–2023
Table 2 North America: Omnichannel Retail Commerce Platform Market, by Country, 2018–2023
Table 3 Europe: Omnichannel Retail Commerce Platform Market, by Country, 2018–2023
Table 4 Asia-Pacific: Omnichannel Retail Commerce Platform Market, by Country, 2018–2023
Table 5 Middle East & Africa: Omnichannel Retail Commerce Platform Market, by Country, 2018–2023
Table 6 Latin America: Omnichannel Retail Commerce Platform Market, by Country, 2018–2023
Continued……
LIST OF FIGURES
Figure 1 Global Omnichannel Retail Commerce Platform Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Omnichannel Retail Commerce Platform Market
Figure 4 Value Chain of Global Omnichannel Retail Commerce Platform Market
Figure 5 Share of Global Omnichannel Retail Commerce Platform Market in 2017, by Country, 2018 to 2023
Continued……
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com/reports/omnichannel-retail-commerce-platform-market-6956
Release ID: 513028
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