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The trade management software market size is estimated to grow by USD 1.12 billion at a CAGR of 10.5% between 2023 and 2028. Trade management software helps organizations by improving supply chain efficiency through streamlined operations and enhanced visibility. It supports logistics and supply chain management functions in handling increasing import and export volumes, especially in emerging markets. Additionally, trade management software addresses complexities such as regulatory requirements and geopolitical factors, aiding companies in navigating global trade dynamics effectively. This software plays a crucial role in trade finance by facilitating smoother transactions and compliance management across international borders.
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The trade management software market trends and analysis report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market share growth by the cloud-based segment will be significant during the forecast period. This is an alternative to manual processes and enterprise resource planning software, which also has in-built features and is internally developed with these solutions. In particular, businesses concentrating on reducing IT infrastructure costs while improving the flexibility and efficiency of supply chain operations have selected cloud-based deployment models for this management software.
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The cloud-based segment showed a gradual increase in the market share of USD 738.20 million in 2018. Cloud-based software is scalable, controls quality, manages all assets centrally, and streamlines the workflow. It can be deployed quickly and requires a minimum investment. Cloud-based trading management solutions, including vendor management software, allow enterprises to retain updated information on the cloud promptly so that authorized parties can access them in real time. The market is anticipated to expand during the forecast period as a result of these advantages of cloud-based trade management software.
The retail and consumer goods end-user are the largest segment of the market in focus in terms of market share during the forecast period. Consumer goods can be categorized as durable, nondurable, or carrier items. Consumer items are classified primarily based on customer behavior. Retail and consumer goods require automation in doing their business, and trade management software services such as patch management software ease the convenience. This software deploys the technique of budgeting, planning, and reconciling a company's trade spending. The growing consumer goods and retail segment drives the demand for trade management software owing to the high requirement to cut spending. Shifting recognition from sole sales technology to computerized operations, online documentation, pipeline visibility, and consumer satisfaction is fueling the adoption of trade management software in the retail and consumer goods sector, which will fuel trade management software market growth during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period, while ROW contributes the remaining 67%. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the market is mainly driven by the increasing need for effective compliance and efficient management of the supply chain due to an uncertain trade environment. The trade dynamics in this region are changing due to factors such as the disintegration of the Trans-Pacific Partnership, possible North America free trade agreement modifications, and the US recasting its economic relations with China. The presence of major players, such as The Descartes Systems Group and QAD is aiding in the widespread adoption in the region. All these factors will drive trade management software market growth in the region during the forecast period.
The market is witnessing rapid growth, driven by the increasing complexity of international trade and import-export activities by traders. Businesses are turning to these solutions to streamline custom filings, restricted party screening, and shipment tracking. These software solutions help mitigate compliance risk by ensuring adherence to import-export legislation, thus enhancing the growth of risk management software. Key component of these solutions include vendor management, invoice management, and import/export management. Services such as consulting, implementation, and deployment support businesses in integrating these solutions. The trend towards on-cloud solutions is also gaining traction, providing flexibility and scalability to organizations.
The growing need for improved supply chain efficiency is driving the market. Visibility and optimization of supply chains are becoming increasingly necessary due to factors such as extended delivery timelines, higher costs associated with global shipments, and variations in lead time. Ensuring compliance, efficient custom filings, rigorous restricted party screening, leveraging free trade zone, and implementing shipment tracking are crucial aspects for businesses involved in international trade. These strategies help enhance operational efficiency, mitigate risks, and improve overall performance in the complex landscape of global commerce. It plays a crucial role in connecting order management systems with distribution centers, enabling the exchange of information regarding inventory and end products among departments like warehouses, inventory, and production.
Furthermore, they help save time, labor, and money by digitizing manual functions. Predictive analytics tools are being integrated into this software to enhance understanding of the supply-demand cycle and improve communication between transportation carriers. These tools offer components for solutions, vendor management, import/export management, and e-invoicing management, along with services such as consulting. Implementing these enables enterprises to reduce costs through better route planning and efficient optimization of loads, thanks to improved visibility across the transport chain. Therefore, the increasing demand for enhanced supply chain efficiency is expected to drive trade management software market growth during the forecast period.
The inclusion of trade compliance as an important feature is a key trend in the market. In making decisions that do not take into consideration the effects on its whole supply chain due to trade compliance, an undertaking to sell its products and services in global markets will lose money and be at risk. Furthermore, if the procurement team changes the sourcing location or supplier of raw materials without intimating the compliance department, it may accidentally lose preferential treatment from an applicable free trade agreement.
Moreover, these concerns can be effectively addressed with the implementation of trade management software. In the early stage of product development, trade management software assists enterprises to analyze and select the most appropriate supplier option in the world. These collect data from different countries, also enable enterprises to view their global trade compliance status and allow them to identify opportunities for where to sell their products and whom to sell them. Thus, the inclusion of trade compliance will drive trade management software market growth during the forecast period.
The increasing complexities in global trade are a major challenge faced by the market. The varied problems of multiple languages, time zones, currencies, and modes of transport must be dealt with by trade platforms. From the trade management software provider's perspective, the challenge is to keep the software up to date with regulatory content accessible from the rules-based transactional software deployed at each supply chain party.
Also, each global trade participant has its unique requirements, and developing a universal solution requires incorporating numerous combinations of functional requirements across the trading partner network. In addition, the providers of trade management software have to provide simple and seamless integration of application programming interfaces in order that they do not require major IT consultancy or professional services because each partner might use different enterprise software. Thus, adapting to changing regulations and business conditions may hamper trade management software market growth during the forecast period.
The trade management software market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the trade management software market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acme Trade Group Pty Ltd. - The company offers trade management software, namely Trade Software Suite, including ImpexDocs, ImpexRFP, ImpexEDN, ImpexCOO, ImpexPRA, and ImpexBooking.
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The trade management software market growth and forecasting report includes detailed analyses of the competitive landscape and information about 20 key market players, including Acme Trade Group Pty Ltd., Aptean Group of Companies, Bamboo Rose LLC, Cognizant Technology Solutions Corp., Descartes Systems Group Inc., E2open Parent Holdings Inc., Expeditors International of Washington Inc., Koch Industries Inc., Livingston International Inc., MIC Datenverarbeitung GmbH, Noatum Holdings SLU, OCR Services Inc., Oracle Corp., QAD Inc., S and P Global Inc., SAP SE, Thomson Reuters Corp., Trademo Technologies Inc., and United Parcel Service Inc., as well as the noteworthy offering of AEB SE's AEB transport management software in the growing trade management software market.
The trade management software market is experiencing significant growth driven by the increasing digitalization of supply chains and the need for efficient supply chain management. Industries such as aerospace and defense, automotive, and healthcare and life sciences are adopting cloud-based technologies and AI for real-time insight and improved resource utilization. The market is also influenced by factors such as global trade volumes, cross-border transactions, and trade-related sectors. As digital supply chain investment rises, these solutions are becoming essential for businesses to navigate complex processes and enhance supply chain visibility in a rapidly evolving global trade environment.
Moreover, the market is evolving rapidly due to the increasing adoption of cloud-based technologies like AI and SaaS in industries such as aerospace, automotive, energy, and healthcare. This adoption is driven by the need for efficient cargo tracking, real-time data, and supply chain management. The market also faces challenges such as limited bandwidth, inefficiencies, and disruption caused by factors like the pandemic. However, emerging technologies and predictive analysis are helping businesses overcome these challenges and optimize their trade activities. As global trade continues to expand, it becomes increasingly crucial for companies to stay competitive in the international marketplace.
The trade management software market is witnessing rapid growth, driven by the increasing adoption of artificial intelligence (AI), cloud-based software/SaaS, and cloud deployment. Large enterprises and small and medium enterprises (SMEs) alike are leveraging these technologies for improved supply chain management (SCM), transport management systems, and trading activities. Cloud adoption, especially in industries like e-commerce, aerospace development, and healthcare & life sciences, is revolutionizing trade management with enhanced efficiency. Enterprise resource planning (ERP) integration and on-premise deployment options further enhance finances and trade business operations. The IT & telecom industry is also contributing to worldwide trade through innovative trade management software solutions. As international commerce expands, companies are focusing on training and streamlining processes to stay competitive in the global market.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.5% |
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Market Growth 2024-2028 |
USD 1.12 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
9.6 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 33% |
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Key countries |
US, China, Germany, Canada, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acme Trade Group Pty Ltd., AEB SE, Aptean Group of Companies, Bamboo Rose LLC, Cognizant Technology Solutions Corp., Descartes Systems Group Inc., E2open Parent Holdings Inc., Expeditors International of Washington Inc., Koch Industries Inc., Livingston International Inc., MIC Datenverarbeitung GmbH, Noatum Holdings SLU, OCR Services Inc., Oracle Corp., QAD Inc., S and P Global Inc., SAP SE, Thomson Reuters Corp., Trademo Technologies Inc., and United Parcel Service Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our trade management software market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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