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 Market:
www.grandviewresearch.com/industry-analysis/trade-management-software-market
Further key
findings from the study 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: 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
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-trade-management-software-market
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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