Press release
Omnichannel Retail Software Market Size Projected To Reach $29.61 Billion By 2034 With A Cagr Of 22.9%
Omnichannel Retail Software Market
What Is the Projected Growth of the Omnichannel Retail Software Market?
The omnichannel retail software market has experienced exceptional growth. It is expected to grow from $10.54 billion in 2024 to $12.98 billion in 2025 at a CAGR of 23.2%. Key drivers of past growth include the expansion of e-commerce and mobile commerce, rising consumer expectations for integrated shopping, increased digital payment adoption, and a stronger focus on customer loyalty.
The omnichannel retail software market is expected to experience exponential growth in the coming years. It is forecasted to reach $29.61 billion by 2029, with a compound annual growth rate (CAGR) of 22.9%. The anticipated growth is driven by the increasing demand for contactless payment solutions, the expansion of voice commerce, the widespread use of mobile shopping apps, the rise of subscription-based retail models, and the growth of direct-to-consumer channels. Prominent trends in this period include technological advancements, AI integration, cloud-based solutions, the role of social media, and IoT integration.
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What Are the Different Omnichannel Retail Software Market Segments?
The omnichannel retail software market covered in this report is segmented -
1) By Offering Type: Solution, Services
2) By Deployment: On-Premises, On-Cloud
3) By Organization Size: Small Enterprises, Medium Enterprises, Large Enterprises
4) By End Users: Books And Stationery, Consumer Electronics And Accessories, Apparel, Footwear And Accessories, Furniture And Home Furnishings, Health And Beauty, Sports Goods, Fast Moving Consumer Goods, Transportation, Other End Users
Subsegments:
1) By Solution: Point Of Sale (POS) Systems, Inventory Management Systems, Order Management Systems (OMS), Customer Relationship Management (CRM) Solutions, E-commerce Platforms, Mobile Commerce Solutions, Payment Gateway Solutions, Supply Chain Management (SCM) Solutions, Analytics And Reporting Tools, Personalization And Recommendation Engines, Omnichannel Marketing Solutions
2) By Services: Consulting Services, Integration Services, Customization Services, Training And Support Services, Cloud Hosting Services, Managed Services, Data Analytics Services
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What Are the Primary Drivers Shaping the Omnichannel Retail Software Market?
The omnichannel retail software market is predicted to expand due to the growing adoption of IoT devices. These devices collect and share data through the internet, providing valuable insights, enhancing decision-making, and cutting costs. Omnichannel retail software is crucial for integrating IoT devices into retail operations, improving the customer experience, and boosting revenue. A report from IoT Analytics GmbH indicated that the number of connected IoT devices reached 16.6 billion by the end of 2023, with predictions of continued growth to 18.8 billion by 2024, indicating an ongoing market expansion.
Which Companies Are Leading in the Omnichannel Retail Software Market?
Major companies operating in the omnichannel retail software market are IBM Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Toshiba Corporation, Cognizant Technology Solutions Corp., Infosys Ltd., Adobe Commerce, NCR Corporation, Shopify Plus, Infor Global Solutions Inc., Diebold Nixdorf AG, Blue Yonder, Lightspeed Retail, Aptos Retail, BigCommerce, VTEX, Mi9 Retail, Commercetools, Brightpearl, Openbravo, Elastic Path, Salsify, Pimcore, Kibo Commerce
What Are the Latest Developing Trends in the Omnichannel Retail Software Market?
Companies in the omnichannel retail software market are creating advanced merchandiser order management systems to strengthen market presence. These apps enhance the customer shopping journey by offering full omnichannel features. In April 2024, HotWax Commerce, a U.S.-based software firm, launched the HotWax Order Management App, enabling merchandisers to manually release pre-orders at the item level, with control over fulfillment based on order timing and inventory levels.
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What Are the Top Revenue-Generating Geographies in the Omnichannel Retail Software Market?
North America was the largest region in the omnichannel retail software market in 2024. The regions covered in the omnichannel retail software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Omnichannel Retail Software Market?
2. What is the CAGR expected in the Omnichannel Retail Software Market?
3. What Are the Key Innovations Transforming the Omnichannel Retail Software Industry?
4. Which Region Is Leading the Omnichannel Retail Software Market?
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