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
Global trade management software is a type of software that streamlines and automates the entire process of global trade across customs and regulatory compliance, logistics, and trade financing. The rapid increase in the globalization and outsourcing process in the recent years, which leads to the complexity in the supply chain process of international trade is expected to increase the demand of trade management software market during the forecast period (2018—2023.)
Globally, the trade management software market is categorized into component, deployment, organization size, and vertical.
The component segment of global trade management software market is categorized into solution and services.
The solution is segmented into trade function, import/export management, vendor management, trade compliance, duty management, supply chain visibility, invoice management, and others.
The services are segmented into consulting, implementation, and support & maintenance.
Depending on the deployment, the global trade management software market is categorized into on-premise and cloud.
By organization size, the market is segmented into large enterprise and small and medium enterprise.
Furthermore, the vertical segment of global trade management software market is segmented into transportation and logistics, government and public, Healthcare and life sciences, aerospace and defense, manufacturing, consumer goods and retail, energy utilities and others.
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Some of the key players of global trade management software market includes Amber Road Inc, Aptean Inc, Integration Point Inc, Livingston International Inc, MIC Customs Solutions, MIQ Logistics, Oracle Corporation, Precision Software, QuestaWeb Inc, SAP SE
The Global Trade Management Software market is expected to reach approximately USD 1.35 Billion by 2023 growing at a ~9.1% CAGR over the forecast period 2018-2023.
The geographical analysis of global trade management software market is done for regions like North America, Europe, Asia Pacific, and rest of the world. Among these regions, the market is mostly dominated by North America.Moreover, this region is expected to remain dominant, throughout the forecast period (2018-2023) in terms of value share due to the presence of major players in this region, including Oracle corporation, Precesion, SAP, Amber Road, GT Nexus, and BluJay Solutions among others. The global trade management software market in Asia-Pacific is expected to reach the highest CAGR over the forecast period (2018-2023) among other regions due to strict government rules & regulations for the international trade and rise in the investment for digitalization movement by developing countries such as India and China in this region are some of the other factors that are boosting the market in this region.