Definition of Omni-Channel-Retail-Commerce-Platform Market 

Omnichannel is a word used in retail and ecommerce as a business strategy that provides better shopping experience across all the channels such as offline, and online. Furthermore, omnichannel-retail-commerce-platforms refers to a method of delivering a better customer experience by combining the benefits of in-store shopping with the convenience of online shopping. Customers can interact with multiple sales and media channels at the same time in this model, moving from showroom to website in a single seamless journey.

Global Omni-Channel-Retail-Commerce-Platform Market: Key Insights

Global Omni-Channel-Retail-Commerce-Platform Market Highlights Over 2023 - 2033

The global omni-channel-retail-commerce-platform market is estimated to garner a revenue of USD 15.0 Billion by the end of 2033 by growing at a CAGR of ~15% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 5.0 Billion in the year 2022. The growth of the market can be attributed to an increasing use of different channels by the customers followed by the surge in the number of vendors opting for different channels. More than 50 per cent of the retailers worldwide are investing in different channels.  

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Omnichannel-retail-commerce platforms refer to a method of delivering a better customer experience by combining the benefits of in-store shopping with the convenience of online shopping. Customers can interact with multiple sales and media channels at the same time in this model, moving from showroom to website in a single seamless journey. Moreover, it provided a better experience to the customers that helps to build a long-term relationship between the buyer and the seller. Hence, the rising need for long-term customer relationships is projected to surge the growth of the global omnichannel-retail-commerce platforms market. For instance, more than 60 percent of the business arising from the existing customers

Global Omni-Channel-Retail-Commerce-Platform Market: Growth Drivers and Challenges

Growth Drivers

• Surging E-Commerce Platforms – A better customer experience is provided to the customers through the integration of e-commerce with retail platforms. Hence, it is expected to boost the growth of the global omnichannel-retail-commerce platform market. In the year 2020, e-commerce sales around the world accounted for 18 percent of all retail sales.

• Rising Use of Mobile Devices– In the year 2021, there are more than 15 Billion mobile devices operating across the globe.

• Increased Internet Penetration – As per the World Bank, the individual using the internet has increased from 29 percent in 2010 to 60 percent in 2020.

• Increasing Social Media Shopping– More than 35 percent of internet users in the United States make at least one social commerce purchase in the year 2021.

Challenges

• High Cost for the Installation of System

The complex shopping patterns of customers through opting for different channels has made the cost higher for the vendors. Moreover, they have to ensure their presence for higher visibility that is leading to the increase the cost. Therefore, it can hamper the growth of the global Omnichannel-retail-commerce-platform market.

• Complexity in Supply Chain

• Lack of Skilled Expertise

The global omnichannel-retail-commerce platform market is segmented and analyzed for demand and supply by solution into warehouse management, CRM, e-commerce, point of sales, order management, and others. Out of these, the e-commerce segment is anticipated to hold the largest share over the forecast period owing to the growing popularity related to e-commerce platforms among the people, and surging smartphone users. For instance, there are more than 6 Billions smartphone users across the globe in the year 2020.

Global Omnichannel-Retail-Commerce-Platform Market Regional Synopsis

Regionally, the global omnichannel-retail-commerce-platform market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2033 on the back of rising online sales, and a high level of digitalization.

The market in the Asia Pacific region is expected to witness the fastest growth over the forecast period owing to the increasing internet penetration, and rising awareness related to e-commerce platforms. According to the World Bank, the percentage of the population using the internet has increased from 8 percent in 2010 to 43 percent in 2020.

Market Segmentation

Our in-depth analysis of the global omnichannel-retail-commerce-platform market includes the following segments:

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Key Companies Dominating the Global Omnichannel-Retail-Commerce-Platform Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global omnichannel-retail-commerce-platform market that are included in our report are IBM Corporation, Salesforce, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, Fujitsu Limited, Aptos, LLC., HCL Technologies Limited, Infosys Limited, NCR Corporation, and others.

Global Omnichannel-Retail-Commerce-Platform Market: Latest Developments

• June, 2021: IBM Corporation announced the partnership with Pandora in order to transform Pandora's omnichannel e-commerce capabilities with IBM sterling supply chain software.

• January, 2019: Oracle Corporation announced the launch of Oracle Retail Xstore office cloud service in order to continue its momentum in enabling digital transformation in the retail community.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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