Omnichannel Retail Commerce Platform Market Size, Trends, Share and Growth Forecast till 2023

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Market Highlights

The global market report on the omnichannel retail commerce platform market predicts a steady growth during the forecast period of 2018 to 2023, with a CAGR of 21.48% to cross a valuation of USD 11.01 billion. The major advantage of the market is the rising use of smartphones and laptops. Inclusion of cloud technology, investment in research activities, the impact of the understanding of customer behavior, enhanced operational efficiency, and others would also inspire the market growth. However, the market also requires some level of expertise and initial investment, which companies often lack. This can prevent the market from growing. The COVID-19 pandemic has also inspired the uptake of e-commerce platforms, which can propel the market growth.

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Segmentation:

The global market report discussing the Omnichannel Retail Commerce Platform Market Analysis revealed segments that were used by experts for information and insights. These details were fetched using proper parameters and scientific methods from the three segments, namely, deployment, solution, and vertical.

By deployment, the dynamics of the omnichannel retail commerce platform market have been studied on the basis of SaaS platform and on-premise.

By solution, the omnichannel retail commerce platform market relies on a study of segments like order management, e-commerce, warehouse management, retail order broker cloud service, CRM, point of sales, and others.

By vertical, the review of the omnichannel retail commerce platform market includes a proper understanding of FMCG, consumer electronics, apparel & footwear, and others.

Regional Analysis:

North America’s structural setup is expected to help the market in gaining a better foothold. Investment in the region for research and incorporation of such technologies is also high owing to which the market may find substantial growth prospects.

Competitive Landscape:

The global market report on the omnichannel retail commerce platform includes a discussion of players like Cognizant Technology Solutions Corp (US), IBM Corporation (US), Oracle Corporation (US), NCR Corporation (US), Salesforce.com (US), Diebold Nixdorf AG (Germany), SAP SE (Germany), Toshiba Corporation (Japan), iVend Retail (US), Dunnhumby (UK), Infosys Ltd (India), Infor Global Solutions Inc (US), and Retail pro international (US). These players have built their fortune using effective strategic moves that rely on a merger, tie-up, innovation, technological setup, acquisition, branding, and others. MRFR tracked these moves that happened in recent years to get a picture of trends that impacted the market. It would increase the chances of benefiting more from strategic implementations.

Industry News:

In August 2020, enVista, a global company known for its excellent services including consulting, automation and managed operations firm, technology, optimizing of the workforce through the unification of both physical and digital commerce, declared that it is ready to collaborate with Jesta I.S., a leading name in integrated ERP and unified commerce software solutions that includes wholesalers and omnichannel retailers. The duo wishes to expand its Asia Pacific presence by empowering clients that would allow complete visibility of their retail supply chains, including points from source to consumption, leading technologies, and various implementation and consulting services.

In August 2020, Ikas, an Ankara-based omnichannel retail management platform, announced that it had raised an investment from Qnbeyond Ventures, a known investment arm of Turkish bank QNB Finansbank. The company has earned popularity by providing a single platform for businesses to manage their marketplace sales, physical stores, and e-commerce. It facilitates operations using a cloud-based POS system that helps businesses manage offline stores. It also has an online marketplace management platform that simplifies the management of orders and inventory on diverse leading local online marketplaces like Hepsiburada, Amazon Turkey, Trendyol, and N11. It also provides an opportunity to integrate leading e-commerce enablement platforms such as Woocommerce, Shopify, and Magento.

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Omnichannel Retail Commerce Platform Market Research Report, Deployment (SaaS, On-premise), Solution (e-Commerce, order management, Point of sales, Retail order broker cloud, CRM, Warehouse management, Others), Vertical (apparel & footwear, FMCG) – Forecast till 2023

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