The multichannel order management market size is poised to grow at a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global multichannel order management market 2019-2023 (Graphic: Business Wire)
Mobile commerce simplifies banking and commercial transactions as well as bill payments through mobile applications. Mobile payments have been considered to be the apt solution for banking services in areas where traditional payment methods are not available. With a view to extend banking and payment services to remote areas, governments across the globe are investing heavily in financial institutions to motivate them to extend their services in rural areas. Thus, such initiatives have led to a steep rise in the adoption of these services among the hitherto unbanked population across the globe. This is contributing to the growth of the global multichannel order management market.
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As per Technavio, the emergence of smart cities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Multichannel Order Management Market: Emergence of Smart Cities
The multichannel order management industry is playing a key role in smart cities since it primarily involves digital smart devices, such as mobile phones and tablets. Efficient multichannel order management solutions are essential for the management of orders from varied sources in different industries such as retail, telecom, and housing and gated community management. Smart cities will help end-users to respond faster to the challenges faced by urban settlements. The number of smart cities worldwide is expected to grow rapidly during the forecast period, which will lead to the growth of the multichannel order management during the forecast period.
“Other factors such as increasing collaborations in providing mobile payment services and rise in cloud integration will have a significant impact on the growth of the multichannel order management market value during the forecast period,” says a senior analyst at Technavio.
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Multichannel Order Management Market: Segmentation Analysis
This market research report segments the multichannel order management market by solution (software and services) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2018, followed by EMEA and APAC respectively. The growth of the multichannel order management market share in Americas can be attributed to several factors such as the high adoption of online ordering technologies such as mobile apps and the emergence of IoT analytics in end-user industries.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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