Why to Invest in Multichannel Order Management Market Which is Expected to Reach USD 6.5 Billion by 2031, Key Factors that are leading the Market Globally

Allied Market Research published a new report, titled, "Why to Invest in Multichannel Order Management Market Which is Expected to Reach USD 6.5 Billion by 2031, Key Factors that are leading the Market Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

Surge in digital retail and e-commerce sector, increased need for multichannel sales, advancement in cloud computing and machine learning technologies, and the necessity for efficient order fulfillment applications drive the growth of the global multichannel order management market. Based on deployment mode, the cloud based segment was the largest in 2021, and would maintain its dominance in terms of revenue during the forecast period.

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The global multichannel order management market was valued at USD 2.5 billion in 2021, and is projected to reach USD 6.5 billion by 2031, growing at a CAGR of 10.1% from 2022 to 2031.

The global multichannel order management market research is segmented into components, organization size, deployment mode, application end-use vertical, and regions. Based on components, the market is bifurcated into software and services. By organization size, it is divided into large enterprises and small & medium-sized enterprises (SMEs). The deployment mode is segmented into on-premises and cloud-based. Based on application, the multichannel order management market is categorized into order fulfillment, inventory management, channel integration, and others. Based on the end-use vertical the market is segmented into retail, manufacturing, transportation & logistics, and others.

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Covid-19 Scenario:

● The outbreak of the COVID-19 pandemic impacted the multichannel order management market negatively for quite some time. The shutdown affected the growth of the warehousing industry till the beginning of 2022. As the virus started spreading globally, ban on transportation was imposed by governments globally, causing a delay in the delivery of products. Warehouses were closed and distribution of supplies were delayed.

● The recent boost in demand for multichannel order management is a consequence of the rise in e-commerce during the pandemic. To reach a large customers base and meet their expectations, businesses focused on several channels, which led to the receipt of orders from multiple channels.

● Growth in many prime elements during the pandemic, such as the adoption of multiple sales channels by various companies, technological advancements in various industries, rise in smartphone penetration, growing internet users, and technological advancements in various industries contributed to the growth of the multichannel order management market.

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Based on application, the inventory management segment was the largest in 2021, capturing over one-third of the global multichannel order management market, and would lead the trail through 2031. However, the order fulfillment segment is estimated to grow at the fastest CAGR of 11.5% through 2031. The report also mentions the channel integration and others segments.

Based on organization size, the large enterprises segment was the largest in 2021, capturing over two-thirds of the global multichannel order management market, and would lead the trail through 2031. However, the SMEs segment is estimated to witness the fastest CAGR of 10.1% during the forecast period. The report also mentions the and segments.

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Based on region, the market in North America was the largest in 2021, accounting for more than half of the global multichannel order management market share and is likely to maintain its leadership status during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 12.6% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.

Leading players of the global multichannel order management market analyzed in the research include Brightpearl, Inc., Salesforce, Inc., Cloud Commerce Pro Ltd., Delhivery Pvt. Ltd., IBM Corporation, Oracle Corporation, Zoho Corporation, HCL Technologies Limited, SAP SE, and Newfold Digital Inc.

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