Retail Omni Channel Commerce Platform Market Expansion Projected to Gain an Uptick During 2025
Global Market Study on Retail Omni-Channel Commerce Platform: e-Commerce Solution Type to Lead in Terms of Market Value Share During 2017 - 2025
New York, NY -- (SBWire) -- 04/30/2019 --According to a recent market report published by Persistence Market Research titled "Retail Omni-Channel Commerce Platform Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)" the global retail omni-channel commerce platform market was valued at US$ 2,965.3 Mn in 2016 and is expected to register a CAGR of 19.9% from 2017 to 2025 to reach a market valuation of US$ 14,987.5 Mn by the end of the forecast period in 2025. Increasing consumer demand for advanced technologies and enhanced experience by mobile applications are major factors driving revenue growth of the global retail omni-channel commerce platform market.
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Retailers need to combine their multiple commerce channels into a single channel to address the growing needs of their customer base. This integrated channel would provide solutions to errors in order management, network failure,
Retailers need to set up cross functional teams to implement their robust omni-channel strategy. These teams will enable a retailer to implement functions such as managing supply-chain finance, brick and mortar operations, strategic planning, e-Commerce and IT.
Retail omni-channel commerce platform providers should deploy the services of the software over cloud as it enables an efficient connectivity between all the channels.
Retailers need to strategize their supply chain process and return process of products very efficiently as these are the most difficult tasks to manage while shifting to a comprehensive omni-channel platform. In addition to this, small and medium sized retailers should also start adopting the platform for satisfying the needs of their diverse customer base to sustain in the global market.
The global retail omni-channel commerce platform market is categorized on the basis of deployment type, industry, solution and region. On the basis of deployment type, the market is segmented into SaaS and On-premise. On the basis of solution, the market is segmented into e-Commerce, Order Management and Others. On the basis of industry, the market is segmented into FMCG, Apparel and Footwear, Consumer Electronics, Hospitality, and Others.
By deployment type, the SaaS segment is anticipated to register a CAGR of 21.2% during the forecast period. In terms of value, the SaaS segment is projected to be the most attractive in the global retail omni-channel commerce platform market during the forecast period.
By solution, the Others segment accounted for a market share of 26.8% in 2016 and is expected to register a healthy CAGR of 21.8% during the forecast period. In terms of value, the e-Commerce segment is projected to be the most attractive in the global retail omni-channel commerce platform market during the forecast period.
By industry, the FMCG segment is estimated to register a CAGR of 24.9% during the forecast period. In terms of value, the Consumer Electronics segment is projected to be the most attractive in the global retail omni-channel commerce platform market during the forecast period.
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The report tracks the performance of the global retail omni-channel commerce platform market across the key geographies of North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America accounted for the largest market share in 2016 owing to a growing need for retail omni-channel commerce platforms. Also, demand for retail omni-channel commerce platforms is increasing in the markets in Middle East and Africa and Latin America. Asia Pacific is anticipated to register the highest CAGR of 25.6% in terms of value over the forecast period.
The report profiles the leading companies operating in the global retail omni-channel commerce platform market including Cognizant Technology Solutions Corp., Salesforce.com, NCR Corporation, Oracle Corporation, IBM Corporation, SAP SE, Toshiba Corporation, Diebold Nixdorf AG, Infosys Ltd., and Infor Global Solutions, Inc.
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