Global Multichannel Order Management Market to reach USD 3.9 billion by 2027

INDORE, India - June 12, 2020 - PRLog -- Bizwit Research & Consulting LLP's Recent Analysis on Global Multichannel Order Management Market (https://www.bizwitresearch.com/reports/global-multichannel-order-management-market-to-reach-usd-3-4-billion-by-2026/) is poised to raise up to USD 3.9 billion by 2027. The Multichannel order management solution is precisely a business-to-business software which provides a base for various merchants to sell their products & enhance focus on E-commerce. Multichannel order management solution are being precisely designed to assist in combining orders from multiple channels into the same catalog and post latest prices throughout all channels during changes in prices. In the present scenario, the multichannel order management finds its utility primarily  for the E-commerce platforms operating on the global scale.

The multichannel order management market is driven by booming E-commerce sector, rise in multichannel trade, surging number of internet users and low operational and initial cost. The booming E-commerce sector is acting as a key driver towards the development and growth of multichannel order management market. For Instance: According to China National Bureau of Statistics, China was the largest E-commerce market with online sales amounting to around $1 trillion which was the highest on the global scale in the year 2019. According to China Ministry of Commerce, the online retail sales generated a revenue of around $1.149 trillion in the year 2017 which was around $869 billion in the year 2016. The Online retail sales in China enhanced by around 32% in the year 2017 from year 2016. According to China Ministry of Commerce, the major part of surge in online retail sales in China came from the customers living primarily in semi-urban and rural areas or provinces. In China, customers on online platforms enhanced their purchases by around 39% in the year 2017 generating a revenue of around $199 billion for the online retailers. Also,  as per Indian brand Equity Foundation, the e-commerce sector stood for USD 38.5 billion in 2017 and expected to grow to USD 200 billion till 2024 resulting into augmenting the adoption of multichannel order management market.

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https://www.bizwitresearch.com/reports/global-multichannel-order-management-market-to-reach-usd-3-4-billion-by-2026/