Trade Management Software Market to grow by USD 1.05 billion between 2022 - 2027; Growth driven by Growing need for improved supply chain efficiency - Technavio
NEW YORK, Jan. 15, 2024 /PRNewswire/ -- The global trade management software market size is estimated to grow by USD 1.05 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 10.72% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 33%.
For more insights on the historic market data and forecast market size (2023 to 2027) - Request a FREE sample report
What's New?
- Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
- Global competitiveness and key competitor positions
- Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!
Trade Management Software Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on Deployment (Cloud-based and On premise), End-user (Retail and consumer goods, IT and telecom, Automotive, Transportation and logistics, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
- The cloud-based deployment segment held the largest trade management software market share in 2020. The segment is likely to retain its dominance in the overall market growth mainly due to the increasing deployment of trade management software in organizations across emerging and advanced economies. Enterprises in advanced economies such as the US are increasingly focusing on adopting global strategies that mitigate business risks, protect their brand, and ensure customer satisfaction while increasing revenue and expanding markets using trade management software.- Download a FREE Sample Report
Trade Management Software Market – Market Dynamics
Key factor driving market growth
The growing need for improved supply chain efficiency drives the trade management software market. Factors such as extending delivery timelines, higher costs associated with global shipments, or variations in lead time necessitate visibility and optimization of supply chains. Furthermore, to facilitate the exchange of information regarding inventory and end products between departments, such as warehouses, inventory, and production, trade management software forms an essential link between order management systems and distribution centers.
Major challenges hindering the market growth
The increasing complexities in global trade challenge the trade management software market. The trade management software platforms deal with varied problems of multiple languages, time zones, currencies, and modes of transport.
The Trade Management Software market, driven by the surge in Financial Technology (FinTech), plays a pivotal role in optimizing Global Trade processes. This comprehensive solution encompasses Supply Chain Management, Trade Compliance, Export and Import Management, Trade Finance, and more. Offering features like Trade Automation, Risk Management, and Electronic Data Interchange (EDI), it ensures efficient Order Processing, Inventory Management, and Logistics.
From Tariff Management to Compliance Reporting, the software streamlines Trade Operations and enhances Trade Visibility. With a focus on Trade Facilitation and adherence to international Trade Regulations, it integrates seamlessly with Enterprise Resource Planning (ERP) systems, making it an indispensable tool for businesses navigating the complexities of Cross-Border Trade.
What are the key data covered in this Trade Management Software Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Trade Management Software Market between 2023 and 2027
- Precise estimation of the size of the Trade Management Software Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Trade Management Software Market industry across North America, Europe, APAC, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Trade Management Software Market vendors
Gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Related Reports:
The Global Event Management Software Market size is estimated to grow by USD 2,425.09 million between 2022 and 2027 accelerating at a CAGR of 7.76% during the forecast period.
The quality management software market size is estimated to grow at a CAGR of 10% between 2022 and 2027. The market size is forecast to increase by USD 5,897.6 million.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Deployment
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article