Jul 9, 2020 4:10 PM ET
iCrowd Newswire – Jul 9, 2020
Global Trade Management Software Market Research Report, By Component (Solutions, Services), Deployment (Cloud, On-Premise), Vertical(Transportation and Logistics, Government and Public, Consumer Goods and Retail,Energy Utilities) — Forecast till 2023
The global trade management software market is in discussions to surpass USD 590.2 million valuations as investors weighed the rise in coronavirus infections with the possibility of future lockdowns and the continuation of easy monetary policy. Market Research Future brings the latest report on the global trade management software market and reveals about future valuation, which could be approximately USD 1352.9 million by 2023. The rate of growth is estimated to be 11.5% from 2016 to 2023—forecasted period.
The leading companies offering trade management software are Aptean Inc, Amber Road Inc, Livingston International Inc, Integration Point Inc, MIQ Logistics, MIC Customs Solutions, Precision Software, Oracle Corporation, QuestaWeb Inc, and SAP SE.
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Top Impacting Factors
Trade management software ameliorates operating competences as well as cash flows significantly. The wide-ranging nature of trade management is an advantage for organizations that look forward to implementing the system-wide and cross-functional outlook of global trade. The growth of trade management software is due to ascend in national as well as international trade and in fuel cost, which resulted in the overall increase in the cost of global transportation and logistics. This has determined several trading organizations to put management solutions into practice that will eventually help in lessening operative costs and enhance working proficiency.
MRFR emphasizes on the fact that with escalating globalization, there is a significant rise in the complexities in managing global trade. As per a recent study by DHL, various online retailers have shown a radical sales expansion of 10-15% to its international customers. The execution of trade management solutions helps the retailers to optimize the cost & risk and provide an excellent experience to domestic as well as international customers.
MRFR study further defines the importance to implement the trade management solutions have grown significantly, in the past few years. The employment of solution such as trade compliance, restricted party screening, customs management and others facilitate to develop various business processes in both domestic and international trade. These factors have been considered to be influential for the future growth of the market, amid coronavirus pandemic.
Apart from this, the other factors such as emerging investments in the worldwide logistics infrastructure, new and developing security regulations for international trade are accelerating the growth of global trade management software market. The surge in the deployment of cloud-based services is considered as a significant game-changer in the forecasted period.
- Trade organizations
- Government agencies
- Industrial users
- Freight forwarders
- Global trade management vendors
- Enterprise users
The global trade management software market is further studied among segments of component, deployment, organization size, and vertical.
In terms of component, the market has included solution and services. Among these, the solution is segmented into import/export management, duty management, trade function, trade compliance, vendor management, invoice management, supply chain visibility, and others. The services are segmented into implementation, consulting, and support & maintenance.
In terms of deployment, the market has included cloud and on-premise.
In terms of organization size, the market includes large enterprise and small and medium enterprise.
In terms of vertical, the market has included government and public, transportation and logistics, aerospace and defence, Healthcare and life sciences, consumer goods and retail, manufacturing, energy utilities and others.
The Asia-Pacific region might demonstrate the highest growth rate in the assessment period, in support of various developments, mainly in emerging countries such as India and China. According to a recent UN conference on trade and development, Asia is the world’s top recipient of FDI. Also, the various reforms and amendments made by the Government of India towards FDI policy to boost the FDI inflow are probable to improve the international trade relations of the country. These reforms might increase the demand for trade management software in the region.
North America acquired the largest share in the global trade management software market owing to the incidence of large retail chains, manufacturers, and trading companies. Additionally, the adoption rate of trade management software is much higher in this region when compared to other parts of the world. Countless companies are focusing on escalating efficiency and are more customer-centric, owing to which the trade management software market is experiencing high demand from this market.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Global Trade Management Software Market
List Of Tables
Table 1 Global Trade Management Software Market, By Region, 2018—2023
Table 2 North America: Trade Management Software Market, By Country, 2018—2023
Table 3 Europe: Trade Management Software Market, By Country, 2018—2023
Table 4 Asia-Pacific: Trade Management Software Market, By Country, 2018—2023
Table 5 The Middle East & Africa: Trade Management Software Market, By Country, 2018–2023
Table 6 Latin America: Trade Management Software Market, By Country, 2018—2023
LIST OF FIGURES
FIGURE 1 Global Trade Management Software Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Trade Management Software Market
FIGURE 4 Value Chain Of Global Trade Management Software Market
FIGURE 5 Share Of Global Trade Management Software Market In 2018, By Country (In %)
FIGURE 6 Global Trade Management Software Market, 2018-2023,
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Keywords: Trade Management Software Market