Trade Management Market
The Trade Management Market is expected to reach USD 1,828 million by the end of 2028, growing at a CAGR of 10.4% over the forecast period (2021-2028).
The factors driving the growth of Trade Management Market includes increasing investments in the logistics sector, rise in the volume of international trade, complexities in managing global trade and emerging trend of digitalization. According to the report published by Untied Nations Conference on Trade and Development (UNCTAD), the global trade registered USD 7.7 trillion in the first quarter of 2022, showing an increase of USD 1 trillion as compared to Q1 2021, which is expected to boost the Global Trade Management Market in the approaching years. Moreover, rise in the number of Free Trade Agreements (FTA) among governments of different Countries, security regulations regarding international trade and the expansion of the manufacturing sector, are some of the additional factors supplementing the market growth. In addition, increasing application of trade management software in the end-use industries such as Retail and Consumer Goods, Aerospace, and Transportation because it provides transparency over shipments and payments along with rapid urbanization, are further contributing to the market growth.
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However, the growth of Trade Management Market is hindered attributed to lack of resources to adopt trade management solutions.
The major players operating in the market are Oracle, Infor., AEB, Shipsy.io, Bamboo Rose LLC, Livingston International, Aptean., SAP and Noatum Logistics, among others.
Deployment Mode – Segment Analysis
Based on Deployment Mode, the Cloud segment is estimated to expand at a remarkable CAGR during the forecast period because cloud-based solutions require less maintenance costs and reduces the capital expenses of the organizations.
Vertical – Segment Analysis
Based on Deployment Mode, the Transportation and Logistics segment is predicted to grow at a significant CAGR over the forecast period. The rise in the number of trade volumes across the globe and emerging need to track cross-border trade along with integration of advanced technologies such as Artificial Intelligence and Internet of Things with the trade management software, are some of the additional factors responsible for the growth of the segment.
Regional – Segment Analysis:
Based on Region, the North American region is estimated to capture a sizeable market share during the forecast period attributed to growing adoption of advanced technologies by the major corporations, rapid growth in the logistics sector, presence of the leading players such as Oracle and Thomson Reuters and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Market Segmentation
Global Trade Management Market by Deployment Mode
- Cloud
- On Premises
Global Trade Management Market by Vertical
- Government and Public Sector
- Retail and Consumer Goods
- Energy And Utilities
- Education
- Manufacturing
- Transportation and Logistics
- Healthcare and Life Sciences
- Other
Global Trade Management Market by Organization Size
- SMEs
- Large Enterprises
Global Trade Management Market by Component
- Solutions
- Services
Global Trade Management Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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