Dublin, June 02, 2023 (GLOBE NEWSWIRE) -- The "Trade Management Software Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global trade management software market is expected to grow from $1.06 billion in 2022 to $1.17 billion in 2023 at a compound annual growth rate (CAGR) of 10.60%. The trade management software market is expected to reach $1.63 billion in 2027 at a CAGR of 8.59%.
Major players in the trade management software market are Oracle Corporation, SAP SE, Thomson Reuters Corporation, QAD Inc., MIC Customs Solutions, E2open Parent Holdings Inc., Bamboo Rose LLC, QuestaWeb, Amber Road Inc., Integration Point Inc., MIQ Logistics, Precision Software and BPE Global.
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Trade management software is software that helps in managing trade operations across the globe. Trade management software allows users to validate, approve, and process online transactions, manage trade e-documents, and ensure compliance with international trade laws and regulations. It also supports multi-company, multi-location, and multi-currency features.
The main functions of trade management software are trade compliance, custom management, finance management, trade analytics, and other function. Trade compliance refers to an aspect of corporate compliance to ensure that all import and export transactions are in accordance with the laws and regulations of the countries involved.
Trade management software is used to ensure compliance with global trade rules and regulations. The main components of trade management software are solutions and services deployed cloud and on-premises. The trade management software is used by defense, pharmaceuticals, energy, transportation and logistics, and consumer goods sector.
The use of cloud-based technologies is a key trend gaining popularity in the trade management software market. Major companies operating in the market are advancing toward the use of cloud technology, also referred to as cloud computing technology, which allows users to access storage, files, software, and servers via their internet-connected devices.
For instance, in September 2022, Newgen Software, an India-based company providing digital transformation products launched the world's only first low-code Trade Finance platform. The process of trade finance is complex, involving a lot of paperwork, multiple stakeholders, and compliance requirements. Through Newgen's comprehensive, configurable, and future-ready trade finance platform, banks can go paperless and streamline their end-to-end trade processes while maintaining compliance with domestic and international regulations. It provides a cloud-native architecture and low-code integration engine to enable the unified processing of trade transactions.
In March 2022, e2open Parent Holdings Inc., a US-based software company that provides cloud-based, mission-critical supply chain management solutions acquired Logistyx Technologies for $185 million. Through this acquisition, e2open aimed to expand its global footprint for multi-carrier e-commerce shipment management, providing companies with an extensive range of shipping capabilities. Logistyx Technologies is a US-based parcel and e-commerce shipping company and provider of parcel shipping software.
North America was the largest region in the trade management software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the trade management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The rising international trade activities are driving the trade management software market. International trade refers to the purchase and sale of goods and services by companies in different countries. In the international marketplace, goods such as consumer goods, raw materials, food, and machinery are bought and sold. International trade is increasing due to changing preferences of consumers and high disposable income.
Trade management software is used by importers and exporters to improve collaboration with their trade partners and manage their global trade operations. This software feature supports multi-company, multi-location, and multi-currency.
For instance, according to international trade statistics of OECD (The Organization for Economic Co-operation and Development), an intergovernmental organization, the G20 countries (comprising of Argentina, Australia, Brazil, Canada, China, EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK, and the USA) reported a 2.1% and 2.6% increase in merchandise exports and imports respectively in the second quarter of the year 2022, compared to a 4.8% and 6.2% increase in the previous quarter. Thus, rising international trade activities are driving the trade management software market.
The trade management software market includes revenues earned by entities through invoice management, insurance management, vendor management, and import/export management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1.17 billion |
| Forecasted Market Value (USD) by 2027 | $1.63 billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Trade Management Software Market Characteristics
3. Trade Management Software Market Trends And Strategies
4. Trade Management Software Market - Macro Economic Scenario
4.1. COVID-19 Impact On Trade Management Software Market
4.2. Ukraine-Russia War Impact On Trade Management Software Market
4.3. Impact Of High Inflation On Trade Management Software Market
5. Trade Management Software Market Size And Growth
5.1. Global Trade Management Software Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Trade Management Software Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Trade Management Software Market Segmentation
6.1. Global Trade Management Software Market, Segmentation By Function, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Trade Compliance
- Custom Management
- Finance Management
- Trade Analytics
- Other Functions
6.2. Global Trade Management Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solutions
- Services
6.3. Global Trade Management Software Market, Segmentation By Deployment, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cloud
- On-Premise
6.4. Global Trade Management Software Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Defense
- Pharmaceuticals
- Energy
- Transportation And Logistics
- Consumer Goods
7. Trade Management Software Market Regional And Country Analysis
7.1. Global Trade Management Software Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Trade Management Software Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/seea8m
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