Technavio analysts forecast the global trade management software market to grow at a CAGR of close to 12% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181212005625/en/
Technavio has released a new market research report on the global trade management software market for the period 2018-2022. (Graphic: Business Wire)
The increasing functionality improvements in GTM software is one of the major trends being witnessed in the global trade management software market 2018-2022. With an increasing number of enterprises trying to export their products and services and opening to global trade, software solutions such as GTM software are also becoming global. The increasing popularity of e-commerce and omnichannel distribution trends is expected to continue, and this will lead to further innovation in GTM products. Moreover, the continuously changing regulations related to imports and exports will force vendors to keep updating their products for use by global enterprises. Hence, GTM solution providers are trying to match up with this globalization aspect of the trade. They are trying to build functionalities that enable enterprises to ship their products globally to any location at the lowest possible costs.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
According to Technavio analysts, one of the key factors contributing to the growth of the global trade management software market is the growing need for improved supply chain efficiency:
Global trade management software market: Growing need for improved supply chain efficiency
Enterprises' growing need to improve supply chain efficiency is one of the major factors driving the GTM software market. Factors such as extending delivery timelines, rising cost of global shipments, and variations in lead time are generating the need for supply chain visibility and optimization. GTM software forms an essential link between order management systems and distribution centers to facilitate the exchange of information regarding inventory and end products between departments, such as warehouses, inventory, and production. Enterprises can use this software to plan transportation and logistics for optimum resource utilization. Furthermore, GTM software also saves time, labor, and money by replacing manual functions with digital ones. Predictive analytics tools are being integrated into trade management software to gain a better understanding of the supply-demand cycle and communication between transportation carriers. Therefore, the market for trade management software looks positive during the forecast period.
According to a senior analyst at Technavio, “The demand for global trade automation and GTM software is being driven by increasing trade across the world. For instance, there is a marked increase in the overall import and export trade value of the developing countries. During 2010-2016, India witnessed a 0.8% growth in value of imports and 3% growth in value of exports, and China registered a 2.2% growth in value of imports and a 5% growth in value of goods exported. Therefore, with such an increase in imports and exports, the GTM software market will have a positive outlook during the forecast period.”
Global trade management software market: Segmentation analysis
The global trade management software market research report provides market segmentation by region, including the Americas, EMEA, and APAC. It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for over 48% share, followed by the EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005625/en/
Contacts:
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
