Global Trade Management Market is expected to rise from its initial estimated value of USD 775.28 million in 2018 to an estimated value of USD 1602.422 million by 2026, registering a CAGR of 9.50% in the forecast period of 2019-2026. This rise in market value can be increasing investments in logistics.
Few of the major competitors currently working in the trade management market are Amber Road, Inc. (US), Aptean (US), The Descartes Systems Group Inc (Canada), SAP SE (Germany), Integration Point, LLC (US), Oracle (US), Precision Software (US), Livingston International (Canada), MIQ (US), Thomson Reuters (US), MIC Customs Solutions (Austria), QuestaWeb (US), Integration Point, Inc.(US), SEKO(US) , Cognizant (US), OCR Services, Inc. (US)., CargoWise Gmbh(Germany), TradeStone Software (US), Kewill Technologies (England), and MercuryGate International Inc. (US) are few among others.
This Trade Management Market analysis gives an examination of various segments that are relied upon to witness the quickest development amid the estimate forecast frame. According to this market report, the global market is expected to witness a relatively higher growth rate during the forecast period. The data and the information regarding the Information and Communication Technology industry are taken from consistent sources such as websites, annual reports of the companies, and journals which is then checked and validated by the market experts. To strengthen your organisation and make better decisions to drive your business on right path, Trade Management Market report is the key.
Key Developments in the Market:
In March 2019, Shopmatic merged with and Octopus Shopmatic, a Singapore-based firm providing e-commerce solutions to small businesses and individual entrepreneurs. Focus of this merger will be to enhance the offline-online synergy.
In April 2019, The Oracle Applications Users Group (OAUG)merged its BI Publisher Special Interest Group (BI Publisher SIG) and Analytics. Focus of this merger is focus on the integration of Oracle’s current analytics and reporting capabilities.
Market Definition: Global Trade Management Market
The trade management is a process of managing the trade in such a way that maximizes the profit and reduces the risk of the suppliers and the buyers involved in the trade process. The trade management helps in automating the processes related to customs, regulatory compliance, global logistics and trade financing which helps in managing the global trade efficiently. The globalization is making supply chain complex thus requirement of trade management is must. The growing cross border sales, increasing investments in the logistics are driving the growth of this market.
Major Market Drivers & Restraints:
- There is increase in complexities in managing global trade is expected to drive the market growth.
- There is increase in investment in global logistics infrastructures is also to drive the market growth.
- There is increase in cross border sales is also to drive the market growth.
- Organizations resistant to change legacy systems or to adopt new technologies this is expected to act as a restraint to the market growth.
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Segmentation: Global Trade Management Market
- Trade Function
- Import/Export Management
- Vendor Management
- Trade Compliance
- Duty Management
- Risk and Quality Management
- Supply Chain Visibility
- Trade Finance
- Insurance Management
- Invoice Management
- Support and Maintenance
By Deployment Type
By Organization Size
- Small and Medium-Sized Enterprises
- Large Enterprises
- Transportation and Logistics
- Government and Public
- Healthcare and Life Sciences
- Aerospace and Defense
- Consumer Goods and Retail
- Energy and Utilities
- North America
- South America
- Middle East and Africa
Global trade management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of trade management market for Global, Europe, North America, Asia-Pacific and South America and Middle East and Africa
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved