The Global Omni-channel Retail Solutions Market size is expected to reach $13.5 billion by 2028, rising at a market growth of 13.4% CAGR during the forecast period
NEW YORK, Nov. 24, 2022 /PRNewswire/ -- The Global Omni-channel Retail Solutions Market size is expected to reach $13.5 billion by 2028, rising at a market growth of 13.4% CAGR during the forecast period.
Based on End-User, the Omni-channel Retail Solutions Market is categorized into FMCG, Apparel & Footwear, Consumer Electronics, Hospitality, and Others. In 2021, the consumer electronics segment acquired a significant revenue share of the omni-channel retail solutions market. The expansion can be attributed to the increasing use of smartphones and the increasing adoption of other electronic devices. Several prominent market players are implementing a variety of techniques, including alliances and acquisitions, to enhance their product offerings.
Based on Deployment, the Omni-channel Retail Solutions Market is divided into On-premise and Cloud. In 2021, the on-premises segment acquired the largest revenue share of the omni-channel retail solutions market. On-premises systems provide integration, dependability, and customization. Additionally, with the assistance of professional services, businesses can maximize the benefits of the customization options of on-premise systems. In an on-premise deployment option, an omni-channel retail solutionâ€™s required hardware and software would be installed.
Region-wise, the Omni-channel Retail Solutions Market is analyzed across North America, Europe, Asia-pacific, and LAMEA. In 2021, North America accounted for the largest revenue share of the omni-channel retail solutions market. In response to rapid globalization as well as commercialization, retailers in the region have increasingly adopted omni-channel commerce solutions. Several industry companies are improving their product offerings in order to support new consumer experiences.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation, SAP SE, IBM Corporation, Salesforce, Inc. are the forerunners in the Omni-channel Retail Solutions Market. Companies such as Cognizant Technology Solutions Corp., Infosys Ltd., Toshiba Corporation are some of the key innovators in Omni-channel Retail Solutions Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NCR Corporation, Diebold Nixdorf, Inc., Infosys Limited, Toshiba Corporation, Oracle Corporation, SAP SE, IBM Corporation, Cognizant Technology Solutions Corporation, Salesforce.com, Inc. and Infor, Inc. (Koch Industries).
Recent Strategies Deployed in Omni-channel Retail Solutions Market
Partnerships, Collaborations and Agreements:
Sep-2022: Infosys entered into a partnership with Microsoft Cloud, a cloud computing service of Microsoft. With this partnership, the companies aimed to allow retail businesses to instantly redefine customer experiences, amplify systems, and renew processes through the cloud and data.
Sep-2022: Toshiba partnered with Grupo Ã‰xito, a South American retail company. This partnership aimed to deploy self-checkout technology throughout Grupo Ã‰xitoâ€™s stores.
Jun-2022: Oracle entered into a partnership with Komax, a globally active technology company. Under this partnership, the companies aimed to launch a range of services built on Oracle Retail Xstore Office, Oracle Retail Xstore Point-of-Service, Oracle Retail Order Broker, and Oracle Retail Customer Engagement, throughout brick-and-mortar stores of Komax across Peru and Chile. In addition, it would also allow retailers to provide enhanced customer service.
Mar-2022: IBM joined hands with Acuver Consulting, IT Services, and Consulting. Through this collaboration, the companies aimed to help M&S India in deploying an omnichannel order management system with reduced to-the-market time, effective order fulfillment capabilities, as well as enhanced customer experience.
Jan-2022: SAP entered into a partnership with dunnhumby, a leader in Customer Data Science. Under this partnership, the companies aimed to aid retailers in integrating cutting-edge customer insights into their merchandising as well as marketing programs. In addition, this partnership would also facilitate retailers in making faster decisions centered on the customer to offer a more personalized customer experience in-store as well as at home.
Jan-2022: NCR Corporation collaborated with Google Cloud, a suite of cloud computing services. Through this collaboration, the companies aimed to aid retailers throughout the world with the launch of cloud capabilities, like machine learning and AI, as well as additional platforms. In addition, it would offer retailers access to the leading tools along with seamless flexibility in provide to offer unprecedented in-store experiences for customers.
Dec-2021: Infosys teamed up with Packable, a leader in e-commerce. Following this collaboration, the companies aimed to integrate the capabilities of Infosys Equinox into Packableâ€™s Packable IQ intending to strengthen the ability of Packable in order to provide innovative, agile, and engaging D2C-in-a-box service.
Dec-2021: Infor partnered with OFFICE, a leader in fashion footwear. Under this partnership, the companies aimed to deploy Infor CloudSuite Fashion in order to help OFFICE in streamlining complex processes throughout warehousing, merchandising, planning, and allocations for improved business efficiency.
Nov-2021: Infor partnered with SNS and AlMalki Group. Following this partnership, the companies aimed to install the Infor WMS warehouse management systemâ€™s latest versions in order to offer in-depth experience and expertise to enable the company to meet its digitalization strategy while also complying with its warehouse management goals.
Sep-2021: Diebold Nixdorf collaborated with Conad Nord Ovest, a leading retail trade business. Through this collaboration, the companies aimed to accelerate the deployment of self-checkout solutions within Conadâ€™s stores.
Jun-2021: IBM collaborated with GK Software, a cloud services vendor. Under this collaboration, the companies aimed to accelerate advanced and cutting-edge retail built over the hybrid cloud technology from Red Hat and IBM. Moreover, this collaboration would also help businesses in quickly innovate and adopt the digital era.
May-2021: Diebold Nixdorf partnered with BP, an integrated oil and gas company. Under this partnership, Diebold would offer its integrated solution, DN AllConnect ServicesSM, to BP in order to enable the transformation of its journey by lowering its operational complexity.
Apr-2021: Cognizant joined hands with Inchcape, a retail leader in the Uk. With this partnership, the companies aimed to aid businesses in digitally transforming their accounting and finance services and infrastructure. Furthermore, Cognizant would accelerate new efficiencies while also identifying business insights to allow Inchcape to make smarter and faster business decisions.
Product Launches and Product Expansions:
Aug-2022: Salesforce launched Composable Storefront, a fully-customizable headless digital storefront. This solution aimed to offer the ability to customers to make site modifications with the flexibility and speed required to accelerate conversions, sales, and basket size in order to reduce costs.
Jan-2022: Toshiba introduced new capabilities in its ELERA, a unified commerce platform. With this product expansion, the companies aimed to expedite retailer digital transformation with an interconnected, agile, and highly adaptable technology.
Sep-2021: Infosys unveiled the Equinox platform. This product launch aimed to aid businesses in delivering secure personalized and hyper-segmented omnichannel commerce experiences to B2B as well as B2C customers.
Jan-2021: Toshiba released Elera, a unified commerce platform. Following this launch, the company aimed to aid retailers in rapidly incorporating functionality as well as features without the requirement for re-platforming. Furthermore, this solution would also address the gap between the web and stores.
Jan-2021: Diebold Nixdorf rolled out the Series Easy, a range of self-service solutions. With this launch, the companies aimed to aid retailers in designing, enabling and operating respective staff and consumer experiences.
Oct-2020: SAP launched the SAP Customer Data Platform, an advanced CDP. This solution aimed to enable businesses to redefine the customer experience throughout every engagement spanning from marketing and commerce to service and sales.
Acquisitions and Mergers:
Nov-2020: SAP acquired Emarsys, a leader in omnichannel customer engagement. Through this acquisition, the company aimed to complement its Customer Experience offerings in order to develop a new standard of digital commerce management. Moreover, this acquisition would also offer significantly personalized omnichannel engagements in real time to aid businesses in ensuring impactful and relevant engagement.
Oct-2020: Salesforce took over Mobify, a Technology Solutions provider. This solution aimed to enable the infrastructure to scale, host, secure, and monitor retail Salesforce e-commerce storefronts. It would allow a variety of applications and devices to link to the back-end systems of a Salesforce user for inventory, content management, inventory, payment, and fulfillment.
Scope of the Study
Market Segments covered in the Report:
o Order Management
o Warehouse/Inventory Management
o Point of Sale
o Promotion Planning
â€¢ In-store Shopping
â€¢ Online Home Delivery
â€¢ In-store Pickup
â€¢ Apparel & Footwear
â€¢ Consumer Electronics
â€¢ North America
o Rest of North America
o Rest of Europe
â€¢ Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
â€¢ NCR Corporation
â€¢ Diebold Nixdorf, Inc.
â€¢ Infosys Limited
â€¢ Toshiba Corporation
â€¢ Oracle Corporation
â€¢ SAP SE
â€¢ IBM Corporation
â€¢ Cognizant Technology Solutions Corporation
â€¢ Salesforce.com, Inc.
â€¢ Infor, Inc. (Koch Industries)
â€¢ Exhaustive coverage
â€¢ Highest number of market tables and figures
â€¢ Subscription based model available
â€¢ Guaranteed best price
â€¢ Assured post sales research support with 10% customization free
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