The omnichannel retail software global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
OmniChannel Retail Software Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The omnichannel retail software market size has grown exponentially in recent years. It will grow from $8.59 billion in 2023 to $10.54 billion in 2024 at a compound annual growth rate (CAGR) of 22.6%. The growth in the historic period can be attributed to the rise of e-commerce, growth of mobile commerce, increasing consumer demand for seamless shopping experiences, expansion of digital payment options, and growing importance of customer loyalty.
The omnichannel retail software market size is expected to see exponential growth in the next few years. It will grow to $24.10 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The growth in the forecast period can be attributed to rising demand for contactless payment solutions, expansion of voice commerce, increased adoption of mobile shopping apps, expansion of subscription-based retail model, and growth of direct-to-consumer. Major trends in the forecast period include technological advancements, integration of AI, cloud-based solutions, integration of social media, and integration with IoT devices.
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Scope Of OmniChannel Retail Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
OmniChannel Retail Software Market Overview
Market Drivers –
The increasing adoption of IoT devices is expected to propel the growth of the omnichannel retail software market going forward. IoT devices are networked gadgets that use sensors and internet access to collect and exchange data. The increasing use of IoT devices is due to the generation of valuable data insights, enhanced decision-making, and significant cost savings through streamlined processes and optimized resource usage. Omnichannel retail software is an essential platform for retailers using IoT devices to improve the shopping experience, manage operations, and drive revenue growth. For instance, in January 2022, data from the GSM Association, a UK-based non-profit industry organization, the number of IoT connections globally is expected to exceed 23.3 billion by 2025, from 15.1 billion connections in 2021. Therefore, the increasing use of IoT devices is driving the growth of the omnichannel retail software market.
Market Trends –
Major companies operating in the omnichannel retail software market are focusing on developing innovative omnichannel order management systems, such as the HotWax Order Management App, to gain a competitive edge in the market. The HotWax Order Management App is an application that enhances customers’ Shopify experience by offering holistic omnichannel retailing capabilities. For instance, in April 2024, HotWax Commerce, a US-based software company, launched the HotWax Order Management App. The app enables merchandisers to manually release pre-orders down to the order item level, providing them greater control over inventories and the pre-ordering process. The program also allows merchandisers to locate and release pre-orders depending on the order date, promised date, and inventory availability.
The omnichannel retail software market covered in this report is segmented –
1) By Offering Type: Solution, Services
2) By Deployment: On-Premises, On-Cloud
3) By Organization Size: Small Enterprises, Medium Enterprises, Large Enterprises
4) By End Users: Books And Stationery, Consumer Electronics And Accessories, Apparel, Footwear and Accessories , Furniture And Home Furnishings, Health And Beauty, Sports Goods, Fast Moving Consumer Goods, Transportation, Other End Users
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Regional Insights –
North America was the largest region in the omnichannel retail software market in 2023. The regions covered in the omnichannel retail software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the omnichannel retail software market are IBM Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Toshiba Corporation, Cognizant Technology Solutions Corp., Infosys Ltd., Adobe Commerce, NCR Corporation, Shopify Plus, Infor Global Solutions Inc., Diebold Nixdorf AG, Blue Yonder, Lightspeed Retail, Aptos Retail, BigCommerce, VTEX , Mi9 Retail, Commercetools, Brightpearl, Openbravo, Elastic Path, Salsify, Pimcore , Kibo Commerce
Table of Contents
1. Executive Summary
2. OmniChannel Retail Software Market Report Structure
3. OmniChannel Retail Software Market Trends And Strategies
4. OmniChannel Retail Software Market – Macro Economic Scenario
5. OmniChannel Retail Software Market Size And Growth
…..
27. OmniChannel Retail Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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