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Market HighlightsWith the growing trend of online shopping rising, the market for omnichannel retail commerce platform has to increase. Market Research Future (MRFR) has published a report about the global omnichannel retail commerce platform market that estimates massive raise for this market at 21.48% CAGR (Compound Annual Growth Rate) between 2018 and 2023. Regarding value, the market is expected to be worth the US $ 11.01 bn by the end of the forecast period.
The key drivers of the global omnichannel retail commerce platform market are increasing adoption of e-commerce for convenient online shopping purposes and the rising adoption of mobile devices like smartphones and tablets. Due to multi-channel approach retailers can increase their sales and profits by working with enhanced operational efficiency. Other advantages offered by omnichannel retail commerce platform that aid its market growth include knowledge of customer behavior & purchasing habits, store traffic reduction, and minimal expenses. However, some factors that can hurt the market growth include high initial investments and complexity in the supply chain.
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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.
Latest Industry News
Infocomm Media Development Authority (IMDA), DBS, and Singtel have collaborated to roll out a new 99%SME e-commerce platform known as 99sme.sg. The new platform aims to help Small and Medium Enterprises (SMEs) merchants in Singapore to easily adopt digital technologies and provide their customers with omnichannel experiences.
Oracle Retail has launched Oracle Retail Xstore Office Cloud Service. This service eliminates the need for data center investment by centralizing all back-office elements of store operations.
Kroger and Microsoft have collaborated to launch a high-technology store that offers 'cashier-less' check-outs and 'digital shelves' at two of its locations in the USA. The partners have plans to roll this out to all of its 2,780 supermarkets.
Competitive Analysis
Omnichannel is creating a seamless shopping experience for the customers whether the customer is in a brick-and-mortar store or on any other digital channel and therefore the retailers focus on providing proper omnichannel platform and an integrated shopping experience to the customers. Many online retailers went offline as well as that of traditional retail businesses went digital considering the potential of the omnichannel retailing. For example, the two biggest e-commerce giants in the market such as Amazon and Alibaba, have now expanded their offline footprints by launch of new brick and mortar stores to gain maximum market share. Also, many other companies are involved in mergers, acquisitions, partnerships and joint ventures to enhance their sales channels and thus gain considerable profits.
Segmentation.
The global omnichannel retail commerce platform market can be segmented by deployment, solution, vertical, and lastly, region. By deployment, this market has been segmented into SaaS platform deployment and On-Premise deployment mode. Based on a solution, the market has been segmented into customer-relationship management (CRM), e-Commerce, order management, Point of Sales, retail order broker cloud service, warehouse management, and others. By vertical, the market has been segmented into apparel & footwear, consumer electronics, fast-moving consumer goods (FMCG), and others.
Regional analysis
The regional segmentation of the global omnichannel retail commerce platform market segments the market into regional markets known as Europe, North America, Asia Pacific, and the rest of the world (RoW). During the forecast period, North America is expected to hold the largest market share due to high level of digitization and an increase in online sales. The primal country-specific markets in this region are the United States of America (USA), Canada, and Mexico.
Europe is a crucial regional market as technological advancement in this region is very high, second only to North America. In Europe also, the trend of online shopping is growing. Important country-specific markets in this region are France, Germany, Italy, Spain, and the United Kingdom (UK).
During the forecast period, the Asia Pacific region is expected to emerge as the fastest growing regional market due to the large e-commerce market and the increasing adoption of click and collect system. Significant country-specific markets in this region are China, India, and Japan, followed by the remaining countries in the Asia Pacific region.
The RoW segment in this report covers the countries in Latin America and the Middle East & Africa (MEA). Argentina and Brazil are two strong economies in Latin America that can emerge as big markets shortly.
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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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Contact Info:
Name: abhishek Sawant
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Organization: Market Research Future
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/omnichannel-retail-commerce-platform-market-6956
Release ID: 484348
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