The global omni-channel retail solutions market size is expected to reach USD 18.8 billion by 2030, according to a new study by Polaris Market Research. The report “Omni-channel Retail Solutions Market Share, Size, Trends, Industry Analysis Report, By Offering (Solutions, Services); By Solution; By Services; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
E-commerce is becoming increasingly popular in both developed and developing countries around the world. With burgeoning internet penetration and increased smartphone adoption, global sales via the online platform are on a strong growth trajectory. As one of the major channels in the omni-channel commerce platform ecosystem, e-commerce has a direct impact on the growth of the global market.
Top retailers have already adopted the retail omni-channel commerce platform to provide their customers with a seamless shopping experience. With advanced technologies and resources readily available today, small and medium-sized retailers are expected to begin investing in this software in order to compete in the global market.
Furthermore, widespread internet penetration has had a positive impact on the retail industry by increasing the global e-Commerce market. To compete with the leading and well-established top e-tailers, retailers will need to implement a strong multichannel commerce platform that connects their physical store with their own online channel. End-to-end integration of online/offline stores, dynamic order allocation, integrated multichannel order management, centralized inventory management, simplified logistics, and convenient return management are some of the key benefits of the omnichannel commerce platform.
Furthermore, the platform integrates seamlessly with ERPs and can generate data regularly, supporting an analytical approach. Some focus areas that could potentially improve omni-channel retail platforms are effective internal organization, adequate customer analytics capabilities, data quality, and the ability to identify customers across shopping trips.
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Given the significant benefits of an omnichannel strategy, an increasing number of retailers are looking to establish a presence in multiple channels rather than limiting themselves to online or store formats.
The introduction of several digital touchpoints, such as smart shelf technologies, self-service tablets, and interactive kiosks, has disrupted the retail industry in recent years. As a result, omnichannel retail is emerging in a retail industry impacted by increased competition, the introduction of new technologies, and changing consumer behavior.
The rapid growth of e-commerce sales worldwide is one of the major factors influencing growth in the global market. Growing penetration of low-cost Internet services, as well as a rapid increase in sales and use of mobile devices, particularly smartphones, are major contributors to rising retail sales via online channels.
Because e-Commerce is regarded as one of the key channels in the omnichannel commerce ecosystem, the e-commerce industry’s rapid growth has significant positive implications for the retail omni-channel commerce platform market. Several leading retailers are implementing retail omnichannel strategies to capitalize on the e-commerce opportunity while also driving traffic.
Omni-channel Retail Solutions Market Report Highlights
- Solution segment held the largest market share in the offering segment as the demand for CRM software is rising with rising entrepreneurship.
- Order management held the largest segment in the solutions segment with a rising need for accurate data, which is useful for point of sales and e-commerce.
- Professional services held the largest sector as there is a rising need for integration and installation services in expanding e-commerce industry.
- North America held the dominant position in the regional segment because of rising tech startups and e-commerce dominance.
- Major players operating in the industry include NCR Corporation; Diebold Nixdorf AG; Infosys Ltd.; Toshiba Corporation; Oracle Corporation; SAP SE; IBM Corporation; Cognizant Technology Solutions Corp.; Salesforce, Inc.; Infor Global Solutions, Inc.
Polaris Market Research has segmented the omni-channel retail solutions market report based on offering, solution, services and region:
Omni-channel Retail Solutions, Offering Outlook (Revenue – USD Billion, 2022 – 2030)
Omni-channel Retail Solutions, Solution Outlook (Revenue – USD Billion, 2022 – 2030)
- Order Management
- Point of Sale
- Warehouse/Inventory Management
Omni-channel Retail Solutions, Services Outlook (Revenue – USD Billion, 2022 – 2030)
- Managed Services
- Professional Services
Omni-channel Retail Solutions, Regional Outlook (Revenue – USD Billion, 2022 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia