Trade Promotion Management Software Market Growth: Global Industry Size, Share, Emerging Trends, Top Players, Demand

According to our latest study on "Trade Promotion Management Software Market Size and Forecast (2020-2030), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Component, Deployment Type, Application, and Industry Vertical," the trade promotion management software market size was valued at US$ 1.28 billion in 2022 and is expected to reach US$ 2.69 billion by 2030. The trade promotion management software market is estimated to record a CAGR of 9.7% from 2022 to 2030.

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Trade promotion acts as a marketing tool, which makes it a part of revenue management through marketing campaigns for retailers/wholesalers. The use of best-in-class trade promotion strategies by consumer goods companies has the potential to provide five times better results than old trade promotion methods. These companies invest approximately 20-23% of their top-line revenue in trade promotions annually, which creates a need to evaluate whether the trade spent meets the objective of maximizing return on investment. With respect to expenditure, consumer-packaged goods companies have increased their spending on trade promotion to handle diminishing customer loyalty and private label growth. This factor propels the demand for efficient trade promotion strategies and plays a key role in developing software for managing trade promotions, driving trade promotion management software market size. With a rise in trade investment by consumer goods manufacturers, their retail partners are able to drive an increase in both revenues and margins.

The Key Players in The Global Market Are:

Wipro Ltd
PSignite Group Inc
Aera Technology
TELUS
o9 Solutions, Inc.
Oracle Corp
SAP SE
UpClear
Anaplan Inc
Aforza Inc.
Moreover, fragmenting sales channels; dynamic consumer behavior; rising focus of retailers on private labels; changing retail formats by introducing new channels such as gas station forecourts, convenience formats, and e-commerce sites; and the arrival of small and fast-moving competitors are among the factors creating demand for efficient trade promotion management software among large and well-established consumer goods companies to remain in the competitive market.

The end user companies executing trade promotion strategies and optimization consume less time and resources for collecting consumer data. The trade promotion management software also helps in using trade funds in an ideal way to have greater visibility to ROI. By using trade promotion strategies, both CPG manufacturers and retailers enhance ROI on their trade promotion investments. Hence, with rising expenditure on trade promotion management, the demand for trade promotion management software is also growing, which drives the trade promotion management software market growth.

Based on component, the trade promotion management software market is bifurcated into solution and services. Based on deployment type, the trade promotion management software market is divided into cloud and on-premise. In terms of application, the trade promotion management software market is bifurcated into large enterprises and small & medium size enterprises. Based on industry, the trade promotion management software market is categorized into retail & consumer goods, IT & services, pharmaceutical, manufacturing, and others. In terms of geography, the global trade promotion management software market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

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