Market Highlights
MRFR concludes in a recent research study that the global omnichannel retail commerce platform
market is expected to grow from USD 2.99 billion in 2017 to USD 11.01 billion by 2023, at a
compound annual growth rate (CAGR) of 21.48% during the forecast period. Advanced retailing
models such as interactive stores, social commerce, click and collect, and virtual stores will witness
significant growth.
Major drivers shaping the omnichannel retail commerce platform market are the rising number of
internet and social media users and the ever-increasing smart phone users coupled with rising
adoption of m-commerce facilities. The use of multi-channel approach provides retailers enhanced
operational efficiency, thereby, increase their sales and profit margin. It also lets the retailer gain an
added advantage of knowing the consumer behavior such as their purchasing habits. As a result, the
retailer can reduce the excess inventory in stores and minimizing their expenses. However, high
initial investments and complexity in the supply chain hamper the growth of omnichannel retail
commerce platform market.
Segmentation:
By deployment, the omnichannel retail commerce platform market trends are segmented SaaS
platform and On-Premise deployment mode.
By solution, the market is segmented into e-Commerce, order management, Point of Sales, retail
order broker cloud service, CRM, warehouse management, others.
By vertical, the market is segmented into apparel & footwear, FMCG, consumer electronics and
others.
By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the
world
Regional Analysis:
The global market for omnichannel retail commerce platform is estimated to grow at a significant
rate during the forecast period from 2018 to 2023. The geographical analysis of omnichannel retail
commerce platform market is studied for North America, Europe, Asia-Pacific, and the rest of the
world.
North America and Europe are the pioneers in adopting the omnichannel retail commerce platform
strategies and have made various advancements in the same so as to provide seamless experience
to the customers. Also, due to the strong digital infrastructure these regions are expected to have
potential growth in the upcoming years.
In the APAC region, China is the leader in the omnichannel retail commerce platform market in
segments such as apparel and footwear. The blooming market for online shopping and the rising
use of e-commerce have led China to be the key player in this region. Also, other major factors such
as the rapid adoption of mobiles and extensive use of social media platforms make China a
favourable market in the APAC region.
Key Players: