According to a market research report "Trade Management Market by Component (Solutions
and Services), Deployment Type (On-Premises and Cloud), Organization Size,
Vertical (Transportation and Logistics, Government and Public, Healthcare and
Life Sciences), and Region - Global Forecast to 2026", published
by MarketsandMarkets™, the global Trade Management Market size to grow from
USD 0.9 billion in 2021 to USD 1.5 billion by 2026, at a Compound Annual Growth
Rate (CAGR) of 10.0% from 2021 to 2026.
increasing
volume of international trade, emerging trend of digitization, government
regulations and compliances, to boost the growth of Trade Management Market across the globe during the forecast
period.
Browse
in-depth TOC on "Trade
Management Market”
402- Tables
49 Figures
295- Pages
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By deployment mode,
on-premises segment to hold the largest market size during the forecast period
The on-premises
deployment is the traditional deployment method. In the on-premises deployment,
an enterprise has complete control over solutions, as solutions are physically
implemented on the premises. One of the major reasons why enterprises are still
adopting on-premises deployment is the enhanced control over solutions. Large
enterprises that have the resources and capabilities to manage trade management
solutions in-house opt for the on-premises deployment.
In vertical,
manufacturing to grow at the highest CAGR during the forecast period
Manufacturing
industries, such as automobiles, computer and electronic product manufacturers,
textile mills, and metal manufacturers, operate globally and rely heavily on
global trade for the supply of raw materials and distribution of finished
products. Most of the manufacturing plants have been set up in developing
countries, such as India, China, and Brazil, due to low labor costs and the
easy availability of raw materials while these finished products are traded in
the mature regions, such as the US, the UK, and Germany. Hence, it is a
challenge for the manufacturing industries to track suppliers and shipments
while complying with the rules and regulations of different countries. Trade
management solutions offer manufacturing industries an efficient platform to
collaborate with many suppliers across regions while also allowing them to track
and monitor shipments. Manufacturing companies are highly involved in
international trade as companies set up their manufacturing plants in
developing countries that offer low labor costs while shipping the end products
to different countries across locations. Hence, manufacturing companies are
potential contributors to the Trade Management Market.
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In
region, APAC to grow at the highest CAGR during the forecast period
APAC
is emerging as the world’s growing economy due to the increased spending in
different verticals, such as manufacturing, healthcare and life sciences, aerospace
and defense, and transportation and logistics. The APAC countries are the major
engine to the growth by increasing their exports as well as the foreign trade
investments. The countries in APAC are developing countries; this is the reason
for increasing exports, which results in a jump in GDP. This would further
result in rising living standards and many people rising out of poverty. APAC
comprises major economies, such as China, Philippines, India, Japan, Singapore,
Malaysia, and Australia. Major companies operating in different domains are
keen on investing and exploring prospective markets and new avenues in this
region. Hence, it is expected to drive the growth of the international trade in
the region and subsequently create prospects for GTM vendors to facilitate GTM
in APAC.
Major vendors in the global Trade Management Market include Oracle (US), Infor (US), Thomson
Reuters (Canada), Livingston International (Canada), Aptean (US), SAP
(Germany), Noatum Logistics (US), E2Open (US), Descartes (Canada), Cargowise
(US), Expeditors (US), BDP International (US), Accuity (US), QAD Precision
(US), 3rdwave (Canada), AEB (Germany), Shipsy (India), Bamboo Rose (US), Bolero
International (UK), MIC Customs Solution (UK), OCR Services (US), Webb Fontaine
(UAE), Neurored (Europe), 4PL Consultancy (UK), Global Custom Compliance
(China), Vigilant Global Trade Services (US), Centrade (US).
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Report: https://www.marketsandmarkets.com/Market-Reports/trade-management-market-70680100.html
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