The
global trade
management software market size is expected to reach USD 1.43
billion by 2025, according to a new report by Grand View Research, Inc.,
progressing at a CAGR of 8.9% during the forecast period. Rapid changes in
international trade regulations coupled with growing complexities of international
trade and commerce are providing a fillip to the market.
In
recent years, global exports have witnessed high growth owing to surge in
consumer demand, changing demographics, and technological advancements. As a
result, pressure on logistics and supply chain management is increasing, which
is impelling businesses to adopt sophisticated technologies such as trade
management software. As the software offers numerous advantages, including
optimizing business processes, minimizing costs, and automating finance
functions, the logistics and transportation industry is anticipated to adopt
these solutions at a rapid pace.
An
important factor that has been instrumental in promoting the implementation of
trade management software and services is the integrated compliance and
regulatory functions. With growing international transactions and intermittent
international security hurdles, the need for adherence to policies and
procedures is increasing among business operators.
While
transportation and logistics is one of the largest adopters of trade management
software, industries such as aerospace & defense, manufacturing, and retail
are also gaining traction. Ability of these systems to provide supply chain
visibility, automate processes, and document management has been an important
driver in the aforementioned sectors. However, transition from legacy systems
to new technologies can deter the growth of the market.
Various
industries are making high IT investments in order to keep up with changing
technology landscape, due to which the market for trade management software is
estimated to expand in the coming years. In addition, increasing adoption by
small and medium businesses coupled with high potential offered by emerging
economies are projected to shape the future of the market.
Browse full research report on Trade Management Software
Further
key findings from the report suggest:
- North America
accounted for the leading share in 2016 owing to presence of prominent
players and strong performance of international trade in the region. The
regional market is poised to represent more than one third of the overall
revenue by 2025
- Cloud is
anticipated to become the preferred deployment option as it offers greater
flexibility, convenience, accessibility, and easy maintenance. The segment
is likely to exhibit a CAGR of over 10.0% during the forecast period
- While the
demand for software solutions is growing at a steady rate, the demand for
supplementary services is expected to rise at a greater pace during the
same period
- Asia Pacific
is anticipated to be the most promising region owing to increasing
implementation of cloud-based technologies across various verticals. The
region will post a CAGR of 11.6% during the forecast period
- Despite
availability of numerous software systems, many processes are still
handled manually, hence segmenting the chances of errors. As a result,
major vendors are likely to focus on automation and integration of
different business processes.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/technology
Grand
View Research has segmented the global trade management software market on the
basis of component, deployment, end use, and region:
Trade
Management Software Component Outlook (Revenue, USD Million, 2014 - 2025)
- Software
- Trade
Visibility & Execution Solutions
- Compliance
Solutions
- Trade
Financial Management Solutions
- Services
- Consulting
- Support and
Maintenance
Trade
Management Software Deployment Scope (Revenue, USD Million, 2014 - 2025)
- On-premise
- Cloud
Trade
Management Software End-use Scope (Revenue, USD Million, 2014 - 2025)
- Energy
- Government
- Healthcare
- Manufacturing
- Retail
- Transportation
& logistics
- Others
Trade
Management Software Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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