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Shift towards automation for managing trade services is driving adoption of trade management software & trend expected to continue driving market revenue growth

VANCOUVER, BC, CANADA, July 27, 2022 /EINPresswire.com/ -- The global trade management market size reached USD 1,022.6 million in 2021 and is expected to register a revenue CAGR of 10.4% during the forecast period, according to latest analysis by Emergen Research.

Robust market revenue growth can be attributed to rising demand for automation in management of trade processes in order to reduce operational costs of an organization, which has led to development of various trade management software. Trade management software is capable of addressing complexities, thereby providing robust and scalable platforms such as pay-as-you-go models, owing to which, adoption of such management solutions has been increasing across various end-use industries. On 18 May 2022 for instance, DiMuto launched new trade management software ‘DiMuto Farm Management’, which aids small farm holders to digitize their operations, and achieve desired changes in their supply chain. This management software also connects operations such as growing, harvesting, selling, payment, and other services for better visibility of supply chain of farms.

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Various companies are focusing on adoption of Global Trade Management (GTM) systems, which is expected to drive demand over the forecast period in order to optimize and simplify overall trade management system. Moreover, vendors of GTM systems are adopting software-based trade management solutions with changing market dynamics to sustain among the competition and enhance market revenue. In addition, organizations are training and integrating GTM systems with corporate systems for smooth management of information over the cloud or on-premises platforms.

The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Trade Management market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.

Companies profiled in the global Trade Management market:

Oracle,

Thomson Reuters,

Aptean,

SAP,

e2open,

LLC,

Precision,

Bamboo Rose LLC,

OCR Services, Inc,

Vigilant GTS LLC,

4PL Consultancy Ltd, MIC, and AEB.

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Key Highlights in the Report

On 03 August 2020, Maersk launched a digital supply chain platform for management of small and medium-sized businesses. The ‘Maersk Flow’ technology is to help companies by reducing the manual effort of trade management through automation of the process.

On-cloud deployment segment accounted for a significantly large revenue share in 2021 owing to increasing deployment of trade management software in enterprises across emerging and advanced economies. Furthermore, cloud-based trade solutions help in providing real-time updates during trade compliance, which in turn aids in compliance missteps and cost penalties. For example, the Bureau of Industry and Security (BIS) has convicted 31 individuals on criminal charges that resulted in USD 287.1 million in criminal fines and 576 months of imprisonment.

Aerospace segment is expected to register fastest revenue CAGR throughout the forecast period. This can be attributed to rise in global trade through cargo aircraft in order to ensure seamless delivery. Also, there is a surge in demand for aviation services pertaining to which market players such as Boeing are increasing their projects to work on trade management automatically. Presence of associations such as the Federal Aviation Administration (FAA) ensures the safety of aircraft-based trade such as aircraft and aircraft parts, which has also led to increasing adoption of various trade management software.

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Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.

Detailed Regional Analysis covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Emergen Research has segmented the global trade management market based on component type, deployment type, functionality, enterprise size, end-use, and region:

Component Type Outlook (Revenue, USD Billion; 2019-2030)

Solution

Service

Deployment Type Outlook (Revenue, USD Billion; 2019-2030)

On-premise

On-cloud

Functionality Outlook (Revenue, USD Billion; 2019-2030)

Financial Control Management

Contract Management

Operational Risk Management

Audit Management

Compliance Management

Others

Enterprise Size Outlook (Revenue, USD Billion; 2019-2030)

Small and Medium-Sized Enterprises (SMEs)

Large Enterprises

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Retail & Consumer Goods

Transportation & Logistics

Aerospace & Defense

Healthcare

Manufacturing

Others

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Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

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Emergen Research
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