Global Trade Management Software Market by Component (Solutions, Services), by End Use (Manufacturing, Transportation, Retail) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2016, the global trade management software market was worth USD 683.1 millions. The market is expected to grow at 8.9% CAGR over the forecast period. Market growth is being driven by the increasing demand for automated trade management processes and the growing need to lower organizational costs.

Many organizations are looking to expand their operations in multiple countries through globalization. Companies involved in trade are working to reduce compliance penalties, increase process efficiency, and minimize the complications that come with exports and imports. Trade management software is a robust platform that can address these complex issues. Its adoption has been increasing rapidly in various industries over the last few years.

There are many trade management options available on the market. These include restricted party screening, product classification and licensing, broker and agreement management, and trade documentation and licensing. These capabilities can also be offered on-demand or with pay-as you-go models thanks to widespread cloud deployment. These factors have led to the widespread adoption of trade management software around the world.

A key aspect of the market's growth is the increasing concern of companies about changing regulations and trade agreements and their impact on the supply chain. Trade management software is known for its key features, such as supply chain visibility and logistic management. Financial management is expected to gain more attention in the future years.

Large companies have identified cost-savings as the main reason for adopting trade management software. Buyers should also consider compliance requirements, avoiding penalties and keeping up with changing trade regulations. This is particularly true for North America and Europe, which have many trade agreements.

The market's growth will be impeded by resistance from companies to adopt new technologies. A lack of technical knowledge is also a problem. However, ongoing trends such as digitization, automation, and software-as-a-service are poised to create significant growth opportunities for the market.

Component Insights

The market is segmented by components into solutions and services. Further, the solutions segment can be divided into compliance solutions, trade visibility and execution, and trade financial management. It is the foundation of vendors' offerings in the market and holds the dominant position in terms revenue.

The market offers many services that are an auxiliary component of software. These can be divided into support & maintenance and consulting. Over the forecast period, the services segment will see a 10.1% CAGR.

Information on Deployment

The largest share of the global trade management software market was held by the on-premise segment in 2016. This is due to the fact that many organizations still use legacy systems to manage business processes. On-premise solutions are becoming more popular due to concerns about data integrity and security.

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 a number of subscriptions. Cloud deployment offers high operational agility and lower costs. This has helped it grow in popularity among small and medium businesses. The segment is expected to grow at a remarkable CAGR of 10.7% during the forecast period.

End-use Insights

In 2016, the largest adoption rate of trade management software was recorded in logistics and transportation. This segment's growth can be attributed largely to its growing need for in-transit shipment visibility and a single source record. This segment will continue to lead the market throughout the forecast period. The manufacturing segment closely follows that of the transport and logistics segment.

Retail is expected to see the highest revenue growth during the forecast period. The sector is seeing a shift in focus from solely revenue generation to automated operations. Online documentation, pipeline visibility and customer satisfaction are all driving the adoption of trade management software.

Regional Insights

North America dominated the market by region in 2016, and it is expected to continue this trend during the forecast period. North America is a market leader due to its large number of mature wells, large-scale development and use of unconventional energy resources.

North America was closely followed by Asia Pacific which accounted approximately 26.1% for the total market revenue. The region is seeing a boom in trade, especially in China, Japan and India. This, combined with the increasing use of cloud-based technology, has given rise to a huge market. The adoption of trade management software is increasing in this region due to rising concerns about automated inventory tracking, filing, reporting, and risk assessment.

Market Share Insights for Trade Management Software

The market is competitive and highly concentrated, with five of the largest companies holding a significant share in 2016. The Descartes Systems Group, Inc., Amber Road, Inc., Livingston International, Inc., MIQ Logistics, LLC, and Integration Point, Inc. are key market players.

Other notable companies in the industry include Aptean Inc., MIC Customs Solutions, Precision Software, Oracle Corporation, and QuestaWeb, Inc. Companies will likely consider online compliance documentation, trade financing management and customized consulting services to increase their market share. Companies also frequently merge and acquire in order to diversify their product lines and increase market share.

Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level and analyzes the industry trends for each sub-segment between 2014 and 2025. Up Market Research has divided the global trade management system market report by component, deployment, end user, region, and year.

• Component Outlook (Revenue USD Million, 2014-2025)

  • Software

    • Trade Visibility & Execution Solutions

    • Compliance Solutions

    • Trade Financial Management Solutions

  • Services

    • Consulting

    • Support and maintenance

• Scope of deployment (Revenue, USD million, 2014-2025)

  • On-premise

  • Cloud

• End-use Scope (Revenue USD Millions, 2014-2025)

  • Energie

  • Government

  • Healthcare

  • Manufacturing

  • Retail

  • Transport & Logistics

  • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

  • Middle East & Africa

Up Market Research published a new report titled “Trade Management Software Market research report which is segmented by Component (Solutions, Services), by End Use (Manufacturing, Transportation, Retail), By Players/Companies companies also carry out frequent mergers and acquisitions in an attempt to diversify their product portfolios and gain market shares, Aptean Inc, Precision Software, 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, trade finance management, MIC Customs Solutions, among others Online compliance documentation, Inc, Oracle Corporation, QuestaWeb”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Trade Management Software Market Report Segments:

The market is segmented by Component (Solutions, Services), by End Use (Manufacturing, Transportation, Retail).

Trade Management Software Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Trade Management Software Market

Overview of the regional outlook of the Trade Management Software Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Trade Management Software Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Trade Management Software Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Solutions

                2. Services

                1. Manufacturing

                2. Transportation

                3. Retail

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Trade Management Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Trade Management Software Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.