Selbyville, Delaware, April 18, 2023 (GLOBE NEWSWIRE) --
The trade management market valuation is anticipated to be worth USD 2 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing popularity of e-commerce and cross-border trade is creating a need for faster and more efficient trade management solutions. With the growth of global exchange, businesses are facing numerous challenges in cross-border trade. These difficulties include understanding intricate foreign laws, overseeing logistics and supply chain activities, and making sure that commodities are delivered to clients quickly and effectively. As per a 2022 research study, trade management functions hold significance in mapping trade-offs to accurately support spatial planning among fringe land.
The trade management market from solution segment accounted for 70% revenue share in 2022. Furthermore, the growth of global trade has proliferated the demand for visibility and openness throughout the supply chain, thereby boosting the uptake of trade management solutions that can provide businesses with real-time visibility into their trade operations, enabling them to make better decisions and mitigate risks. In February 2023, Kepler Cheuvreux, a European financial services company, selected Opensee’s cloud-based trade management and execution analytics solution, providing a customized to provide real-time access to data.
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The trade management market from the on-premises segment was dominated over USD 500 million in 2022. In an on-premises deployment, an enterprise has complete control over the solutions, thus encouraging enterprises to adopt on-premises trade management systems for improved control. For instance, in December 2022, RBC Investor & Treasury Services announced the successful installation of its end-to-end post-trade execution service for Genus Capital Management.
The small/medium enterprises segment held 45% share of the trade management market in 2022. Burgeoning economic development in the domestic sectors of developing countries as a result of booming industrial development and globalization across the globe is benefitting segment growth. This has integrated new technologies and resources that help in enhancing efficiency, encourage improvement, and make national exporting firms more competitive. According to International Energy Agency, SMEs represent 99% of European businesses, playing a substantial role in economic growth.
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The retail segment crossed 15% trade management market share in 2022, on account of significant demand for retail trade management solutions in the import and export process to oversee file exchanges with trading partners and suggest actions necessary to import and export items as well as provide a substantial record of crucial import order information. For instance, Oracle Retail Management offers the infrastructure needed to manage imports efficiently. The Oracle Retail Merchandising System is immediately integrated into the highly scalable solution, which has been created to satisfy the needs of both small and large enterprises with growing import programs.
Asia Pacific trade management market is projected to witness over 10% CAGR between 2023 and 2032. The APAC region is experiencing an increased population base, an expanding middle class, and growing economies. The logistics and e-commerce industries in China are rapidly expanding with businesses and service providers strongly emphasizing warehousing and logistics automation. Government programs such as Made in China that aim at strengthening the economic stance have promoted foreign direct investment in the manufacturing industry, thus the need for rade management systems in retail and transportation is likely to impel product adoption.
Some of the leading companies operating in the trade management market are Oracle, Expeditors, AEB, MIC Custom Solution, E2open, QAD, Thomson Reuters, SAP and Descartes. The competitive landscape of the market is primed to showcase a range of product range diversification and R&D tactics by industry players to propel their market standing. For instance, in February 2022, SAP, a German software company, released feature pack 6 for SAP Trade Promotion Management, which is set to improve the support for sales managers and key account managers to manage their customers’ profit and loss (P&L). This new product upgradation increases the effectiveness of trade promotion spending to drive revenue, margin, and share success with customers.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Trade management market 3600 synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total addressable market (TAM) trends
2.3 Regional trends
2.4 Component trends
2.5 Deployment mode trends
2.6 Organisation size
2.7 End-Use trends
Chapter 3 Trade management market Insights
3.1 Impact of COVID-19 on the market
3.2 Russia-Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth Drivers
3.6.1.1 The growing complexity of global trade regulations and compliance requirements
3.6.1.2 The rise of e-commerce and cross-border trade, creating a need for faster and more efficient trade management solutions
3.6.1.3 Increasing demand for supply chain visibility and transparency
3.6.1.4 The need for automation and streamlining of trade processes
3.6.2 Industry pitfalls and challenges
3.6.2.1 Integration with legacy systems
3.6.2.2 Security and privacy concerns
3.7 Patent landscape
3.8 Key news and initiatives
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Bargaining power of suppliers
3.10.2 Bargaining power of buyers
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
