Quadrant Knowledge Solutions announced today that it has named Symphony RetailAI as a 2021 technology leader in the SPARK Matrix analysis of the global Omnichannel Order Management Systems market.
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The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global omnichannel OMS market dynamics, major trends, vendor landscape, and competitive positioning. The study provides a competitive analysis and ranking of the leading vendors in the form of its SPARK Matrix, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market position.
Considering the impact of COVID-19, Quadrant has revised the growth estimate and market forecast for the global omnichannel OMS solution market. The global omnichannel order management systems market, which posted a negative growth of (-2.3%) in 2020, is expected to grow at a CAGR of 12.3% from 2020 to 2025. Global omnichannel OMS vendors continue to gain significant market traction with direct inquiries from large retailers and their partner networks. The omnichannel OMS market is expected to grow from an estimated market size of $814.5 million in 2020 to reach over $1.45 billion by 2025.
The key value proposition of omnichannel OMS is integrating enterprise-wide inventory and customer orders from multiple channels to provide unified visibility at a single location. Additionally, providing workflow capability to perform order orchestration, intelligent order routing to ensure orders are fulfilled from the optimal location, and optimizing sourcing and omnichannel fulfillment scenarios are driving market growth across geographical regions and industry segments.
Omnichannel order management systems vendors are focusing on improving their technology value proposition by enhancing inventory visibility and segmentation, in-store technology, and leveraging advanced automation, AI and ML technologies to improve the accuracy, speed, scalability of order orchestration, intelligent routing, and optimization processes. Several leading vendors are also offering unified and integrated commerce platform and solutions.
“Symphony RetailAI, with its sophisticated and comprehensive technology capabilities of enterprise-wide inventory visibility, distributed order management and omnichannel fulfilment, has received strong overall ratings across the performance parameters of technology excellence and customer impact,” said Akshaysingh Chandel, analyst, Quadrant Knowledge Solutions. “With strong overall ratings, Symphony RetailAI is positioned amongst the leaders in the 2021 SPARK Matrix analysis of the omnichannel order management systems market. Symphony RetailAI provides an integrated platform with modular solutions for order fulfillment, click and collect, and warehouse management systems (WMS) with a single 360-degree view of the physical inventory for order management. Symphony RetailAI also offers CINDE (Customer Insights and Decision Engine), which enables retailers to uncover insights, make smarter decisions and execute customer-centric retailing tactics.”
“We’re thrilled to be named a Leader in the 2021 SPARK Matrix for Omnichannel Order Management Systems,” said Patty McDonald, Global Product Marketing Director, Symphony RetailAI. “Now more than ever, retailers are embracing unified commerce to drive profitable revenue growth, and must carefully balance margins to stay competitive. This is especially true of grocers as they manage fresh items. As part of our high-performance supply chain suite, our order management solution allows retailers to effectively manage orders across any channel – from supplier to consumer – while prioritizing the customer experience. Our retail customers are able to drive profitable growth through order management and have seen up to 40% improvement in productivity.”
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