Press release
Trade Management Software Market is expected to grow at a CAGR of 9.6% by 2027 - Amber Road, Bamboo Rose, Expeditors International of Washington, Integration Point, Livingston International, MIC, Oracle Corp, QAD, QuestaWeb, SAP SE
Trade Management Software Market
Every business across the globe has diverse concerns related to trade management. These concerns are based on several factors including product’s geographical location of sourcing, manufacturing, and shipping. Further, import and export volume of the products; compliance and security regulations of the delivery location; the multitude of FTAs and FTZs; number of partners involved in the supply chain; and the level of internal trade know-how are other key factors. Additionally, the need of any business may change on timely basis or depending on the location. Thus, business across the world are seeking for appropriate GTM solutions to simplify their global trade processes. This has resulted in growth of global trade management software market.
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Market Insights
Cost reduction and real-time visibility is driving global trade management software market
Trade is a complex process which involves the flow of multiple goods and information across the network of suppliers, carriers, and warehouse. This complexity can be handled using software systems, which allows analyzing real-time and real-world data. This implementation of software systems improves the supply chain and also offers real-time visibility. Increased competitiveness in the industry is the major reason for industries investing in automation and digitization. Moreover, the adoption of the cloud-based solution is expected to provide real-time visibility of exported goods. Thus, bolstering the growth of global trade management software market.
SaaS-based deployment is expected to project huge opportunity for global trade management software market
The cloud-based deployment is creating a huge opportunity for trade management vendors. The increasing adoption of cloud technology and improving IT infrastructure is driving the global trade management software market. A SaaS model allows the business to replace patchworks of legacy products and manual processes with a comprehensive solutions suite that automates trade from the time a purchase order is placed with an overseas supplier to the time a shipment is delivered. Vendors are shifting from traditional on-premise deployment to cloud-based deployment. The cloud-based deployment is a new revenue growth model and are expected to witness high demand during the forecast period.
Deployment Insights
The global trade management software market by deployment is led by cloud segment. Cloud based trade management software is gaining high popularity among the small and medium enterprises driven by its allure to deliver newfound flexibility for the businesses, saving costs and time to enhance the scalability and agility.
End-user Insights
The trade management software market by end-user is segmented into retail & CG, automotive, logistics & transportation, healthcare & pharma, government, aerospace & defense, chemicals & minerals, manufacturing, others. The global trade management software market is dominated by logistics & transportation in 2018. The e-commerce industry is flourishing globally, and advanced fulfillment models are becoming standard in customers’ observances, resulting in creating more destinations, carriers, and disruption for third-party logistics companies. Simultaneously, the complexity of global trade is becoming more intense with growing competition and increasing compliance requirements. GTM solution enables logistics providers to run down costs along with enhancing performance.
Strategic Insights
The market players present in the global trade management software market are mainly focusing on solution enhancements by implementing advanced technologies. By signing a partnership, contracts, joint ventures, funding, and inaugurating new offices across Europe, Asia Pacific, North America, and worldwide permit the company to maintain its brand name globally. Few of the recent developments are listed below:
2019: Ivoclar Vivaden signed contract with MIC for Global Customs & Trade Compliance Software solutions. The contract includes implementation of various modules of the MIC portfolio to simplify the internal Customs and Trade procedures in connection with the building of the new Global Distribution Center of Ivoclar Vivadent.
2018: Expeditors International of Washington, Inc. introduced carrier allocation platform which is a cloud-based collaboration platform that forecasts, plans, and connects shippers and forwarders with ocean carriers in advance of shipping to determine the most optimal flow of products.
2018: Yusen Logistics, a worldwide provider of transportation and logistics services selected Integration Point for Global Trade Management.
Leading Endpoint Detection and Response (EDR) Market Players:
• Amber Road, Inc.
• Bamboo Rose LLC
• Expeditors International of Washington, Inc.
• Integration Point LLC
• Livingston International
• MIC
• Oracle Corp
• QAD, Inc,
• QuestaWeb
• SAP SE
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Key Elements that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the Endpoint Detection and Response (EDR) Market.
• Key market trends cracking up the growth of the Endpoint Detection and Response (EDR) Market.
• Challenges to market growth.
• Key vendors of Endpoint Detection and Response (EDR) Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Endpoint Detection and Response (EDR) Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.
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