Global Omnichannel Retail Software Market Projected to Grow at 22.9% CAGR, Reaching $29.61 Billion by 2029

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What Will the Omnichannel Retail Software Industry Market Size Be by 2025?
Recent years have seen a significant expansion in the omnichannel retail software market. Expected to grow from a worth of $10.54 billion in 2024 to $12.98 billion in 2025, the market will witness an impressive compound annual growth rate (CAGR) of 23.2%. This historic growth can be traced back to factors like the emergence of e-commerce, the growth of mobile commerce, increasing consumer demand for a frictionless shopping experience, the expansion of digital payment methods, and a rising emphasis on customer loyalty.

What's the Long-Term Growth Forecast for the Omnichannel Retail Software Market Size Through 2029?
In the forthcoming years, a significant surge is anticipated in the omnichannel retail software market, with projections indicating a climb to $29.61 billion by 2029. This corresponds to a compound annual growth rate (CAGR) of 22.9%. Factors contributing to this growth during the envisaged period include a heightened demand for touch-free payment options, the expansion of voice-enabled commerce, a rise in the usage of mobile shopping applications, the broadening of the subscription-led retail model, and the expansion of the direct-to-consumer approach. In the same forecast period, we expect to witness trends such as technological progression, AI involvement, the adoption of cloud-based solutions, social media integration, and partnerships with IoT devices.

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What Are the Key Growth Drivers Fueling the Omnichannel Retail Software Market Expansion?
The escalating utilization of Internet of Things (IoT) devices is predicted to stimulate the expansion of the omnichannel retail software market. IoT devices are interconnected gadgets that employ sensors and internet connection to capture and communicate information. The surge in the use of these devices is attributed to the production of vital data insights, improved decision-making capabilities, and considerable cost reduction by enhancing procedures and optimizing resource consumption. Omnichannel retail software is a vital tool for retailers using IoT devices to enhance the consumer experience, streamline operations, and bolster revenue growth. For example, in September 2024, IoT Analytics GmbH, a non-profit organization based in Germany, stated that there were 16.6 billion IoT devices connected by the end of 2023, showing a 15% upturn from 2022. They also forecast additional growth of 13% to 18.8 billion by the end of 2024. Furthermore, the count of IoT devices connected is expected to soar to 40 billion by 2030, indicating a significant leap from the previous market update in 2023. Therefore, the escalating use of IoT devices is fueling the growth of the omnichannel retail software market.

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What Are the Key Trends Driving Omnichannel Retail Software Market Growth?
Major enterprises in the omnichannel retail software market are looking to create cutting-edge merchandisers order management systems in order to stand out in the competitive landscape. These applications enhance the customer's shopping journey by providing comprehensive omnichannel retail functionalities. For example, HotWax Commerce, a software company based in the US, unveiled the HotWax Order Management App in April 2024. This app empowers merchandisers to individually release pre-orders at the order item level, thus giving them more control over their stock and pre-order procedures. Moreover, the software allows merchandisers to find and execute pre-orders based on the order date, promised delivery date, and stock availability.

How Is the Omnichannel Retail Software Market Segmented?
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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Which Companies Are Leading the Charge in Omnichannel Retail Software Market Innovation?
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

Which Regions Are Leading the Global Omnichannel Retail Software Market in Revenue?
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.

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