The Latest Order Management Software Industry Statistics Explained
The global order management software market was valued at USD 1,581 million in 2019.
The statistic ‘The global order management software market was valued at USD 1,581 million in 2019’ represents the total market value of order management software worldwide in the year 2019. This figure indicates the financial scale and significance of the order management software industry, highlighting the amount of money spent by businesses and organizations on acquiring and implementing order management solutions during that year. The value of USD 1,581 million serves as a key metric for assessing the market size, growth trends, and overall economic impact of order management software on a global scale in 2019.
It is expected to grow at a compound annual growth rate (CAGR) of 9.7% from 2020 to 2027.
The statistic “It is expected to grow at a compound annual growth rate (CAGR) of 9.7% from 2020 to 2027” indicates the anticipated average yearly growth rate of a specific metric or indicator over the period from 2020 to 2027. A compound annual growth rate takes into account the compounding effect of growth over multiple years, providing a more accurate representation of overall growth compared to a simple annual growth rate. In this case, the 9.7% CAGR suggests that the metric is projected to increase by approximately 9.7% each year on average from 2020 to 2027. This information is useful for forecasting and strategic planning, as it helps to estimate how the metric is expected to evolve over the specified time frame.
The market size of the order management software industry crossed USD 2.8 billion in 2020.
The statistic indicates that the overall market size of the order management software industry exceeded USD 2.8 billion in the year 2020. This figure represents the total revenue generated by companies that develop and sell order management software solutions during that year. The substantial market size reflects the increasing demand for efficient order processing and management systems by businesses across various sectors. The growth of this industry suggests a trend towards digitalization and automation in managing orders, inventory, and overall business operations. This statistic serves as a strong indicator of the industry’s significance and potential for further development in the coming years.
The integration of artificial intelligence in order management systems is expected to boost the market to USD 3.5 billion by 2026.
This statistic suggests that the incorporation of artificial intelligence technology into order management systems is predicted to have a significant impact on the market, with projections indicating a growth to a value of USD 3.5 billion by the year 2026. This development implies that the utilization of AI in automating order processing, improving efficiency, and enabling advanced analytics capabilities is expected to drive substantial growth and opportunities within the order management sector. The anticipated market expansion reflects the potential benefits that AI can offer in streamlining processes, enhancing decision-making, and ultimately increasing the competitiveness and profitability of businesses operating within this space.
North America dominates the order management software market with over 35% share due to presence of major market players.
This statistic indicates that North America holds a significant position in the order management software market, accounting for more than 35% of the market share. The dominance of North America in this sector is attributed to the presence of major market players within the region. These key players likely have a strong foothold in the market, leading to increased sales and adoption of order management software in North America. This suggests that the region is a key player in driving growth and innovation within the order management software industry, potentially influencing global trends and developments in the market.
The cloud-based order management software segment held over 55% market share in 2020.
The statistic indicates that in 2020, the cloud-based order management software segment dominated the market by holding a market share of over 55%. This means that more than half of the market for order management software was captured by cloud-based solutions as opposed to on-premise or other types of software. The significant market share held by cloud-based order management software suggests a growing trend towards cloud computing and the adoption of cloud-based solutions in the order management industry. This statistic highlights the strong presence and increasing popularity of cloud-based solutions in the market and signifies the preference for their benefits such as scalability, accessibility, and flexibility among businesses and organizations.
Market growth is also driven by strong demand from e-commerce, projected to grow 16.7% annually till 2023.
The statistic indicates that the market growth is being fueled significantly by the rising demand from the e-commerce sector, with a projected annual growth rate of 16.7% expected until 2023. This strong demand from e-commerce platforms is contributing to the overall expansion and development of the market. The growth rate suggests that e-commerce is playing a crucial role in driving the market forward, likely due to factors such as increasing online shopping trends, changing consumer preferences, and advancements in technology facilitating smoother online transactions. The steady growth forecasted in this sector indicates a positive outlook for the market as a whole, highlighting the importance of e-commerce in driving market expansion.
The Asia-Pacific region will experience the fastest growth in the order management software market through 2027.
The statement indicates that the Asia-Pacific region is projected to see the most rapid expansion in the order management software market compared to other regions up to the year 2027. This growth is expected to surpass the growth rates of other regions globally, signifying a significant increase in demand for order management software solutions within the Asia-Pacific market. Factors such as increasing e-commerce activities, digitalization efforts by businesses, and the growing adoption of automation technologies in the region are likely driving this trend. As a result, businesses operating in the Asia-Pacific region may have a greater need for order management software to streamline their operations, improve efficiency, and meet the evolving demands of the market.
73% of brands plan to invest in order management systems to improve customer experience.
The statistic ‘73% of brands plan to invest in order management systems to improve customer experience’ suggests that a significant majority of brands recognize the importance of enhancing customer experience through improved order management systems. By investing in such systems, companies aim to streamline and optimize their processes related to managing orders, which can lead to increased efficiency, faster order fulfillment, and ultimately, higher levels of customer satisfaction. This proactive approach indicates a strategic focus on meeting customer expectations and building stronger relationships with consumers, highlighting the recognition of order management systems as a key driver of improved customer experience in the competitive business landscape.
Digital commerce will drive 90% of the global retail growth in the next 12 years, propelling order management software adaptation.
The statistic indicates that digital commerce is projected to be the primary driver of global retail growth in the next 12 years, accounting for 90% of the total growth. This prediction suggests a significant shift in consumer behavior towards online shopping and highlights the importance of businesses adapting to this trend by investing in order management software. As more consumers turn to online channels for their shopping needs, companies that implement effective order management solutions will be better equipped to handle the increased volume of digital transactions and meet customer expectations for efficient and seamless online shopping experiences.
By 2027, companies that have implemented the system reduced their order-to-ship time by 2.5 days on average.
The statistic “By 2027, companies that have implemented the system reduced their order-to-ship time by 2.5 days on average” indicates that a system implemented by companies has led to a significant improvement in their operational efficiency. The average reduction of 2.5 days in the order-to-ship time suggests that the system has streamlined processes, enhanced productivity, and ultimately enabled these companies to fulfill customer orders more quickly. This statistic highlights the tangible benefits of implementing the system, showcasing the potential impact on businesses in terms of cost savings, customer satisfaction, and competitive advantage within the market.
Amazon, one of the biggest users of order management software, processed 306.4 million orders in 2019.
The statistic “Amazon, one of the biggest users of order management software, processed 306.4 million orders in 2019” highlights the immense scale and operational efficiency of the e-commerce giant’s order processing capabilities. The use of order management software allows Amazon to seamlessly handle a staggering volume of transactions, demonstrating the company’s ability to efficiently manage the logistics of a vast array of online orders. This statistic not only underscores Amazon’s dominance in the e-commerce industry but also serves as a testament to the reliability and scalability of modern order management technology in handling high volumes of transactions within a given timeframe.
About 54% of companies using order management software saw a reduction in labor costs.
The statistic “About 54% of companies using order management software saw a reduction in labor costs” indicates that a majority of companies have experienced a decrease in labor costs after implementing order management software. This suggests a positive correlation between the use of such software and cost savings in terms of labor expenses. The data implies that the efficiency and automation provided by order management software have resulted in a streamlined workflow that requires less manual labor, ultimately leading to reduced costs for these companies. This statistic highlights the potential benefits that technological solutions can offer in terms of optimizing business operations and driving financial efficiencies.
The largest end-users of order management software include Retail (40.6%), Wholesale (18.5%) and Food & Beverage (12.1%).
This statistic indicates the distribution of end-users for order management software, highlighting the industries with the highest adoption rates. Retail emerges as the largest end-user, accounting for 40.6% of the usage, emphasizing the sector’s reliance on efficient order processing and inventory management systems. Wholesale follows with 18.5%, portraying the significance of streamlined order fulfillment processes in this industry. Food & Beverage accounts for 12.1%, underscoring the importance of order management software in handling complex supply chains and perishable products within this sector. Overall, this data showcases the diverse industry applications of order management software and highlights the prominent role it plays in enhancing operational efficiency across different sectors.
In 2019, 41% of decision-makers said they would likely invest in an order management system in the next two years.
The statistic indicates that in 2019, 41% of decision-makers expressed their intention to invest in an order management system within the next two years. This suggests that a significant portion of decision-makers within various industries are considering upgrading their order management processes to potentially improve efficiency, streamline operations, and enhance overall business performance. The statistic provides insight into the current trend towards adopting advanced technology solutions to drive business growth and competitiveness, highlighting the importance of order management systems in meeting the evolving needs and demands of modern businesses.
About 60% of companies indicate the implementation of an order management system reduced shipping errors by at least 25%.
The statistic “About 60% of companies indicate the implementation of an order management system reduced shipping errors by at least 25%” suggests that a majority of companies that introduced an order management system experienced a significant improvement in their shipping accuracy. This indicates that such systems are perceived as effective tools for minimizing errors in the delivery process. The statistic highlights the potential benefits of investing in order management systems, suggesting a correlation between their implementation and a decrease in shipping errors. By utilizing these systems, companies may be able to streamline their operations and enhance overall efficiency in managing orders and shipments.
E-commerce companies account for 32% of the total users of order management software.
This statistic indicates that 32% of all users of order management software are from e-commerce companies. It suggests that a significant portion of the user base of order management software consists of businesses operating in the e-commerce sector, which includes online retailers, marketplaces, and other digital platforms facilitating the buying and selling of products or services. This prominence of e-commerce companies as users of order management software reflects the growing importance of efficient order processing and fulfillment in the digital marketplace, where businesses need robust tools to manage their sales, inventory, and shipping operations effectively.
The mobile application market for order management software is expected to grow with a CAGR of 11.4% from 2020 to 2025.
This statistic indicates that the mobile application market for order management software is predicted to experience a Compound Annual Growth Rate (CAGR) of 11.4% from the year 2020 to 2025. This suggests a steady and consistent rate of growth in the market over the forecasted period. A CAGR of 11.4% means that the market size is anticipated to increase by that percentage every year on average. This growth rate reflects the increasing adoption and demand for mobile applications in the field of order management software, driven by factors such as technological advancements, changing consumer preferences, and the need for efficient and streamlined order processing solutions.
Conclusion
The statistics presented above provide valuable insight into the growing Order Management Software industry. As the demand for efficient order processing and fulfillment continues to rise, businesses are increasingly turning to advanced software solutions to streamline their operations. With a clear understanding of the market trends and projections, companies can make informed decisions to stay competitive and meet the evolving needs of customers.
References
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