Trusted Business Insights presents the Latest Study on Trade Management Software Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Global Trade Management Software Market
The global trade management software market size was valued at USD 683.1 million in 2016. It is expected to expand at a CAGR of 8.9% over the forecast period. Increasing demand for automation of trade management processes and growing need to reduce organizational costs are among the key trends escalating market growth.
Globalization in trade is encouraging numerous organizations to expand their business operations across multiple countries. As a result, companies involved in trading are trying to curb compliance penalties, improve process efficiency, and reduce complications associated with imports and exports. Trade management software offers a robust and scalable platform to address these complexities, due to which its adoption has been rising rapidly across various end-use industries over the past few years.
Trade management solutions available in the market provide myriad capabilities including restricted party screening, product classification, trade documentation and licensing, and broker and agreement management. In addition, widespread cloud deployment has enabled solution providers to offer these capabilities on demand and with pay-as-you-go models. These factors are responsible for the growing adoption of trade management software across the globe.
An important aspect of the market is rising concerns of companies regarding changing regulations, trade agreements, and their effect on supply chain of organizations. As a result, supply chain visibility and logistics management are considered some of the most significant characteristics of trade management software. Financial management is gaining prominence as a characteristic of the software and is anticipated to garner more attention in later years of the forecast period.
Large organizations have cited cost saving as the major factor for the adoption of trade management software. In addition, the need to meet compliance requirements, avoid penalties, and stay updated with the changing trade regulations are emerging as significant parameters for buyers to consider. This is especially true in developed economies of Europe and North America, wherein various trade agreements are already in place.
In addition to resistance from organizations to adopt new technologies, lack of technical expertise is estimated to act as a bottleneck for the growth of the market. However, ongoing trends such as digitization, automation, and software-as-a-service are poised to create significant growth opportunities for the market.
Market Segmentation, Outlook & Viewpoint: Global Trade Management Software Market
Component Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
Trade Visibility & Execution Solutions
Trade Financial Management Solutions
Support and Maintenance
Deployment Scope (Revenue, USD Million, 2014 – 2025)
End-use Scope (Revenue, USD Million, 2014 – 2025)
Transportation & logistics
Key Players, Recent Developments & Regional Insights: Global Trade Management Software Market
On the basis of components, the market has been segmented into solutions and services. The solutions segment has been further categorized into trade visibility and execution solutions, compliance solutions, and trade financial management solutions. The solutions segment forms the basis of offerings for vendors in the market, due to which it enjoys the dominant position in terms of revenue.
Services offered in the market often form the auxiliary part of the software and can be further divided into consulting and support & maintenance. The services segment is likely to exhibit a CAGR of 10.1% over the forecast period.
In 2016, the on premise segment held the leading share in the global trade management software market. This can be attributed to a large number of organizations using legacy systems to manage their business processes. Concerns regarding data security and integrity are also playing a vital role in the adoption of on premise solutions.
Cloud deployment comprises of software-as-a-service (SaaS) that allows central management of processes and on-demand subscription model that charges customers based on number of subscriptions. Cloud deployment provides a high level of operational agility at lower costs, which has been instrumental in its growing adoption among small and medium enterprises. As a result, the segment is projected to progress at an impressive CAGR of 10.7% over the forecast period.
Transportation and logistics registered the highest adoption of trade management software in 2016. The growth of the segment can be attributed to soaring need for end-to-end visibility into in-transit shipments along with maintaining a single source of record. The segment is expected to maintain its lead throughout the forecast period. The manufacturing segment closely follows the transportation and logistics segment.
In terms of revenue, retail is anticipated to post the highest CAGR during the forecast period. Shifting focus from sole revenue generation to automated operations, online documentation, pipeline visibility, and customer satisfaction are fueling the adoption of trade management software in the sector.
In terms of regions, North America led the market in 2016 and is estimated to show the same trend over the forecast period. North America has emerged as an industry leader owing to presence of a large number of mature wells and large-scale development of unconventional energy resources in the region.
North America was followed by Asia Pacific, which accounted for around 26.1% of the total market revenue in 2016. Burgeoning trade, mainly in China, Japan, and India, coupled with increasing adoption of cloud-based technologies is providing a tremendous boost to the regional market. Rising concerns regarding automated inventory tracking, filing, and reporting with risk assessment and security programs are augmenting the adoption of trade management software in the region.
Trade Management Software Market Share Insights
The market is highly competitive and fairly concentrated with the top five companies accounting for a considerable share in 2016. Key market participants include Amber Road, Inc.; The Descartes Systems Group, Inc.; Livingston International, Inc.; MIQ Logistics, LLC; and Integration Point, Inc.
Other prominent companies present in the industry are Aptean Inc.; MIC Customs Solutions; Precision Software; Oracle Corporation; and QuestaWeb, Inc., among others. Online compliance documentation, trade finance management, and customized consulting services are likely to be the key parameters that companies would consider in order to gain a competitive edge in the market. Additionally, companies also carry out frequent mergers and acquisitions in an attempt to diversify their product portfolios and gain market shares.
Key Insights Covered: Global Trade Management Software Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Trade Management Software industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Trade Management Software industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Trade Management Software industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Trade Management Software industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Trade Management Software industry.
Research Methodology: Global Trade Management Software Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
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