Global Trade Management Software Market 2017-2021
About Trade Management Software
Global trade management (GTM) is a software that is used to streamline life cycle of trade activities in areas such as logistics and settlement. GTM helps to improve operating efficiencies and cash flows significantly. GTM is comprehensive and helps organizations to use the cross-functional and system-wide view of global trade. GTM is also applied by many companies in their global operations.
Technavio’s analysts forecast the global trade management software market to grow at a CAGR of 11.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global trade management software market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of software and services. The new software license revenue is realized from the fee earned by vendors offering trade management software to customers. The software licensing revenue includes both perpetual and periodic licenses or subscriptions. Vendors also offer pay-per-use models and services based on cloud-based offerings.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Trade Management Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global trade management software market: Amber Road, Aptean, Descartes, Infor, Integration Point, Oracle, QAD, SAP, QuestaWeb, and Visual Compliance
Other Prominent Vendors in the market are: Bamboo Rose, WiseTech Global, BluJay Solutions, MercuryGate International, MIC, and TradeLanes.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is GTM software adapting to globalization in trade. Many companies are using global trade as a way of expanding their businesses and to increase their profit margins. To cope with the increasing changes in the global trade sector, GTM software activities are also becoming more globalized. GTM has moved away from the traditional global trade approach and is driven by the growth of e-commerce, omnichannel, and other distribution approaches. A high number of regulations associated with country-to-country imports and exports is one of the major trends that will be seen during the forecast period.”
According to the report, one of the major drivers for this market is Need for efficient supply chain. The need for global supply chain visibility and optimization has increased among trading companies because of the growing cost of global shipments, extended delivery time, and the variations in lead time. The visibility into the global supply chain is necessary as it helps to avoid overstocking of inventory, optimize supply chain network, and mitigate trade compliance risks. However, the use of manual or outdated technologies and the complexity of the global trading systems, which have different data and message formats, are obscuring the visibility into the networks of the supply chain.
Further, the report states that one of the major factors hindering the growth of this market is Data security and privacy. Most of the business organizations prefer cloud-based trade software over on-premises trade software because of its cost-effectiveness and easy accessibility. However, the implementation of cloud-based solutions could reveal trade-related information to public or competitors due to security vulnerabilities on the web, which can result in the misuse or manipulation of data. There is also a high chance of a breach of logistics information when proper security measures are not in place.
Amber Road, Aptean, Descartes, Infor, Integration Point, Oracle, QAD, SAP, QuestaWeb, Visual Compliance, Bamboo Rose, WiseTech Global, BluJay Solutions, MercuryGate International, MIC, and TradeLanes.
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