New Product Launches, to Achieve Growth in the Global Multichannel Order Management Market.
Multichannel order management simplifies the process by maintaining the data of all the orders in a single place, thereby eliminating the need of logging into multiple platforms to fulfill the requested orders. Multichannel order management automation solutions are used by Business-to-Business (B2B) and Business-to-Customer (B2C) or by both vendors. The multichannel order management also facilitates the management of inventory information, database of customers, database of vendors, information on billings and payments, customer returns and refunds, and order processing records. MarketsandMarkets expects the multichannel order management market size to grow from USD 1.46 billion in 2018 to USD 2.44 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period.
The traditional and emerging market players include IBM (US), Salesforce (US), Oracle (US), HCL Technologies Limited (India), SAP (Germany), Zoho Corporation (India), Freestyle Solutions (US), Brightpearl (US), Unicommerce Esolutions Pvt. Ltd. (India), Cloud Commerce Pro Ltd (UK), ChannelGrabber (UK), Ecomdash (US), Primaseller (US), Stitch Labs (US), Vinculum Solutions Ltd. (India), Etail Solutions (US), Primaseller (US), Selro Ltd. (UK), SalesWarp (US), SellerActive (US), TradeGecko Pte. Ltd. (Singapore), ManageEcom (India), Contalog (India), GeekSeller, Browntape Technologies (India), Linnworks (UK), and Sanderson (UK). These players have adopted various strategies, such as partnerships, collaborations, agreements, acquisitions, and new product launches, to achieve growth in the global multichannel order management market.
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IBM is an established player in the market, and over a span of 3 years, it has focused on organic growth strategies to strengthen its position in the market. For instance, in February 2017, IBM announced the launch of the Order Management Essentials Edition, a SaaS offering that delivers order management capabilities to augment the existing eCommerce initiatives. The company is highly focused on product innovations and assigns a high budget for R&D. The company’s R&D expenditure has increased substantially in 2017 as compared with 2015.
Oracle is one of the leading vendors in the multichannel order management market. The company’s solutions are instrumental in mapping the enterprises’ requirements for the implementation of business strategies. Under its multichannel order management category, the company launched 2 products, namely, Oracle Order Management Cloud and Oracle Global Order Promising Cloud. In 2017, the company invested 14% of its revenue in R&D to enhance its existing portfolio of products and offerings and to develop new technologies and services.
Related Reports:
Multichannel Order Management Market by Solution (Software & Services), Deployment Type (Cloud & On-Premises), Organization Size, Industry Vertical (Retail, Ecommerce, and Wholesale, Manufacturing, & Healthcare), and Region - Global Forecast to 2023
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