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Global Retail Omni-Channel Commerce Platform Market to Reach $14.6 Billion by 2026SAN FRANCISCO, April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Retail Omni-Channel Commerce Platform - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Edition: 9; Released: February 2022 Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Global Retail Omni-Channel Commerce Platform Market to Reach $14.6 Billion by 2026 Amid the COVID-19 crisis, the global market for Retail Omni-Channel Commerce Platform estimated at US$8 Billion in the year 2022, is projected to reach a revised size of US$14.6 Billion by 2026, registering a compounded annual growth rate (CAGR) of 16.4% over the analysis period. The United States represents the largest regional market for Retail Omni-Channel Commerce Platform, and is projected to reach US$4 Billion by 2026. Given the significant advantages offered by omnichannel strategy, a growing number of retailers are looking to create presence in multiple channels as against restricting themselves to online or store formats. The promise of integrated shopping experience for customers through strong physical stores and through multiple online channels, such as desktop or mobile and social media or online websites or digital touchpoints such as kiosks or smart shelves continues to drive retailers towards omnichannel platforms. The recent years have witnessed the disruption in the retail industry through the advent of a number of digital touchpoints, such as smart shelf technologies, self-serve tablets and interactive kiosks. The rising significance of these technologies can be seen by the fact that about 45-50% of retail sales in the US are known to be influenced by digital touchpoints. Consequently, in a retail industry impacted by increasing competition, advent of new technologies and changing consumer behavior, omnichannel retail is emerging as an effective solution for the industry to adapt and respond to the challenges. One of the major factors influencing growth in the global retail omni-channel commerce platform market is the rapid growth of e-commerce sales across the world. In both developed and developing economies, e-commerce retail is witnessing exponential growth and emerging as the preferred sales channel among customers. Growing penetration of low cost Internet services and rapid increase in sales and use of mobile devices specifically smartphones are major contributors to the growing retail sales through online channels. Since e-Commerce is regarded as one of the key channels in the omnichannel commerce ecosystem, the rapid growth of e-commerce industry has huge positive implications for the retail omni-channel commerce platform market. Several leading retailers are adopting retail omnichannel strategy to tap the e-commerce opportunity and also drive traffic and sales in physical stores. The need to offer seamless shopping experience to customers remains the major factor fueling adoption of omnichannel commerce platform among retailers. The potential of omnichannel strategy is also being realized by small and mid-sized retailers, who are investing in the platform to survive the intensely competitive conditions. By region, omnichannel commerce platform is widely adopted among retailers across North America, with Europe also exhibiting favorable growth outlook for the market. The strong growth in online shopping market and high adoption of digital technologies are fueling growth in the developed regions. Though a new concept in Asia, US retailers have for long been adopting omnichannel solutions, primarily to drive online sales to their physical retail outlets. Asia-Pacific presents considerable growth opportunity for the omnichannel retail commerce platform on account of the strong growth being witnessed in the e-commerce market along with rising adoption of click and collection system. A major challenge confronting the global omnichannel platform market is the high cost incurred in deploying omnichannel platform and installing the software. More MarketGlass™ Platform Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android About Global Industry Analysts, Inc. & StrategyR™ CONTACTS: LINKS Connect With Us on LinkedIn Follow Us on Twitter Journalists & Media
SOURCE Global Industry Analysts, Inc. 
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