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Global Trade Management Market , Trends, Analysis, Opportunities, Share and Forecast – 2019-2025
Trade Management Market
Such obstacles have driven several trading organizations to put GTM solutions into practice that will eventually support in cost reduction. GTM solutions bring down transportation charges by almost 4%-10%. Moreover, it helps corporations to maintain links between transportation modules, enabling economical and quicker deliveries.
Global trade management software market was valued at USD 712.3 million in 2018 and is expected to grow at a CAGR of 9.6% 2018 - 2025, to reach USD 1,607.2 million in 2025.
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Increased sourcing of cheap labor from countries including China and India are driving the trade activities that have stimulated demand for global trade management software. Increased cross border security standards promoting demand for global trade management software that requires compliance with the growing number of free trade agreements among several countries require automation through trade management software. The retail and consumer goods sector held a significant share of the market due to the fact of adoption of GTM software.
North America constituted the largest share in the global GTM software market. This is due to the presence of large retail chains, manufacturers, and trading companies. Additionally, the adoption rate of GTM software is much higher in this region when compared to other parts of the world due to technological advancements. Many companies are focusing on increasing efficiency and be more customer-centric, due to which the GTM software market is experiencing high demand from this market.
Key players profiled in the trade management software market analysis are Amber Road, Inc., Aptean, Inc., Integration Point, Inc., Livingston International, Inc., MIC Customs Solutions, MIQ Logistics, Oracle Corporation, Precision Software, QuestaWeb, Inc., and SAP SE.
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