Global Omnichannel Retail Software Market Projected to Grow at 20.9% CAGR, Reaching $27.55 Billion by 2029

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What Will the Omnichannel Retail Software Industry Market Size Be by 2025?
In recent times, there has been a significant expansion in the size of the omnichannel retail software market. Projected to increase from a value of $10.54 billion in 2024 to $12.89 billion in 2025, the market is expected to maintain a compound annual growth rate (CAGR) of 22.3%. The growth seen in the past can be credited to factors such as the surge of e-commerce, mobile commerce development, rising consumer demand for flawless shopping experiences, the broadening of digital payment alternatives, and the escalating significance of customer loyalty.

What's the Long-Term Growth Forecast for the Omnichannel Retail Software Market Size Through 2029?
In the coming years, the market size for omnichannel retail software is projected to witness a substantial boost, culminating in a worth of $27.55 billion by 2029. This equates to a compound annual growth rate (CAGR) of 20.9%. This surge during the forecast period can be credited to factors such as the growing preference for touch-free payment solutions, the proliferation of voice commerce, the widespread use of mobile shopping applications, the broadening of the subscription-based retail model, and the expansion of the direct-to-consumer approach. The forecast period is also expected to introduce major market trends such as technological evolution, AI integration, the adoption of cloud-based solutions, social media integration, and the incorporation with Internet of Things (IoT) devices.

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What Are the Key Growth Drivers Fueling the Omnichannel Retail Software Market Expansion?
The growth of the omnichannel retail software market is predicted to be fueled by the rising acceptance of IoT devices. These devices, which are connected through a network and use sensors and internet connectivity to gather and share data, are increasingly being adopted due to their ability to provide valuable data insights, improve decision-making processes, and allow for significant cost reductions via streamlined processes and optimized resource use. Omnichannel retail software serves as a crucial tool for retailers leveraging IoT devices to enhance the shopping experience, manage daily operations, and boost revenue growth. For example, IoT Analytics GmbH, a non-governmental organization based in Germany, reported in September 2024 that by the end of 2023, 16.6 billion IoT devices were connected, reflecting a 15% increase from 2022. They have also predicted an additional 13% increase to 18.8 billion by the end of 2024. Furthermore, the number of connected IoT devices is projected to soar to a staggering 40 billion by 2030, a significant jump from the last market update in 2023. Consequently, the escalating adoption of IoT devices is propelling the growth of the omnichannel retail software market.

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What Long-Term Trends Will Define the Future of the Omnichannel Retail Software Market?
Prominent firms in the omnichannel retail software market are leveraging the development of inventive merchandisers order management systems as a strategy to establish a competitive advantage. This type of application improves customer shopping by offering an all-inclusive omnichannel retail experience. As an example, in April 2024, the US software company, HotWax Commerce, introduced the HotWax Order Management App. This app equips merchandisers with the ability to manually dispatch pre-orders selectively down to the order item level, thereby offering enhanced inventory and pre-order process control. Additionally, the application facilitates the identification and release of pre-orders based on the order date, committed date, and stock availability.

How Is the Omnichannel Retail Software Market Segmented?
The omnichannel retail softwaremarket 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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