What Has Been the Progress and Growth of the Omnichannel Retail Commerce Platform Market in Recent Years?
The omnichannel retail commerce platform market has seen considerable growth due to a variety of factors.
• The market size for the omnichannel retail commerce platform has seen a significant increase in recent times. It is projected to expand from $6.57 billion in 2024 to $7.52 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.4%.
This accelerated growth during the historic period is mainly due to factors like customer preference for convenience, the surge in mobile commerce, the necessity for instant inventory transparency, the expansion of click-and-collect facilities, and a focus on customer experience.
How Does the Forecast Look for the Omnichannel Retail Commerce Platform Market?
The omnichannel retail commerce platform market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for the omnichannel retail commerce platform is anticipated to experience a swift expansion in the coming years, expected to reach a value of $12.88 billion by 2029, with a compound annual growth rate (CAGR) of 14.4%.
Several factors contribute to this growth during the forecast period, including an increase in omnichannel fulfillment options, the growth of voice commerce, a strong focus on sustainability and contactless payments, and a rising demand for omnichannel personalization. Notable trends for the forecast period encompass in-store digital experiences, omnichannel marketing automation, localization and hyper-personalization, progressive web applications, and subscription commerce.
What Are The Leading Drivers Of Growth In The Omnichannel Retail Commerce Platform Market?
E-commerce's accelerating sales are forecasted to thrust the omnichannel retail commerce platform market's growth. E-commerce, also known as electronic commerce, involves making purchases and sales of goods and services across the internet or other digital networks. This type of commerce incorporates various types of transactions such as online retail sales and internet auctions, bringing convenience, accessibility, a broad variety of products, time-efficiency, and productivity for consumers. Omnichannel retail commerce platforms use e-commerce to offer a uniform and integrated shopping experience across multiple channels, giving retailers the vital infrastructure and capacity to connect with consumers, steer sales, and execute. For instance, as per the United States Census Bureau, a US government organization, total e-commerce sales in 2023 amounted to $1,118.7 billion, marking a 7.6% growth from 2022. Therefore, the increasing e-commerce sales are propelling the omnichannel retail commerce platform market's growth.
How Are The Segments Defined Within The Global Omnichannel Retail Commerce Platform Market?
The omnichannel retail commerce platform market covered in this report is segmented –
1) By Solution: E-commerce, Order Management, Pos(Point Of Sale), Customer Relationship Management (CRM), Warehouse Management, Retail Order Broker Cloud Service, Other Solutions
2) By Deployment: Software As A Service (SaaS), On- premises
3) By Organization: Small And Medium Sized Enterprises (SMEs), Large Enterprises
4) By End User: Consumer Electronics, Apparel And Footwear, Fast-Moving Consumer Goods (FMCG), Other End Users
Subsegments:
1) By E-commerce: Online Storefront, Mobile Commerce (mCommerce), Social Commerce Integration, marketplace Integrations
2) By Order Management: Order Processing, Inventory Visibility and Management, Order Fulfillment and Tracking, Return Management
3) By POS (Point of Sale): Mobile POS, Self-Checkout Systems, In-Store POS Terminals, Cloud-Based POS
4) By Customer Relationship Management (CRM): Customer Data Management, Loyalty Programs and Rewards, Customer Engagement and Personalization, Customer Support and Ticketing
5) By Warehouse Management: Inventory Tracking, Demand Forecasting, Picking and Packing Automation, Shipping and Logistics Coordination
6) By Retail Order Broker Cloud Service: Real-Time Inventory Allocation, Omnichannel Order Routing, Multi-Location Fulfillment Optimization, Drop Shipping Management
7) By Other Solutions: Analytics and Reporting, Product Information Management (PIM), Payment Processing Integration, marketing and Promotions Management
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How Are Emerging Trends Reshaping The Dynamics Of The Omnichannel Retail Commerce Platform Market?
Major firms in the omnichannel retail commerce platform industry are emphasizing the creation of innovative advancement platforms such as Tira, a multi-channel beauty retail platform. These endeavors aim to increase competition against multi-brand beauty retailers and solidify their market stance. These platforms represent a holistic strategy that cohesively merges different channels, tools, and platforms, offering customers a consistent beauty shopping experience. For instance, Reliance Retail, an Indian retail firm, introduced its omnichannel beauty retail platform named Tira in April 2023. Tira provides a carefully selected blend of international and domestic beauty labels, establishing it as a one-stop destination for beauty enthusiasts. Moreover, this digital platform is user-friendly with a clean, distraction-free interface, displaying purchaseable videos, blogs, tutorials, trend insights, personalized suggestions, and a virtual color cosmetic testing feature.
Who Are the Key Players In The Omnichannel Retail Commerce Platform Market?
Major companies operating in the omnichannel retail commerce platform market are:
• Google LLC
• Microsoft Corporation
• HCL Technologies Limited
• Amazon Web Services Inc.
• Intel Corporation
• International Business Machines Corporation
• Oracle Corporation
• Fujitsu Limited
• SAP SE
• NVIDIA Corporation
• Salesforce Inc.
• Toshiba Corporation
• Infosys Limited
• Baidu Inc.
• Block Inc.
• NCR Corporation
• Shopify Inc.
• GoDaddy Inc.
• Diebold Nixdorf AG
• Sensient Technologies
• Wix.com Ltd.
• Lightspeed POS Inc.
• BigCommerce Pty. Ltd.
• ViSenze
• LemonStand Corp.
What Is The Most Dominant Region In The Omnichannel Retail Commerce Platform Market?
North America was the largest region in the omnichannel retail commerce platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the omnichannel retail commerce platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
