Bangalore, India, June 27, 2019: With its recently published study “Global Trade Management Software Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for trade management software will continue to grow mainly due to increasing complexities of international trade and fluctuating government regulations and compliances, emphasizing the need for trade management software.

The volume of international trade has been growing due to globalization, and transportation and logistics companies are facing issues to streamline the business process and operation costs associated with growing trade operations. Financial year 2017 and 2018 has witnessed substantial trade operations worldwide, despite issues regarding Brexit and the trade war between US and China.

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Some of the major factors which will affect the global trade management software are as follows:

• Increased sourcing from locations with cheap labor including China and India driving the trade activities and the demand for global trade management software.
• Increasing cross border security standards driving the demand for global trade management software.
• Compliance with the growing number of free trade agreements among several countries requires automation through a trade management software.

Adopting a global trade management software in their business will enable service providers, customs brokers, foreign trade agents, and third-party service providers across the major industry verticals to gain an advantage against their competitors in global trade management and achieve their business goals. This trend is expected to continue during the forecast period 2019–2025, fueling the global trade management software market growth at a CAGR of ~12% to cross $1.4 billion by 2025.

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North America is the leading revenue generator in the global trade management software market with a major share of the market contributed by the US. North American market for global trade management software is mainly driven by growing organizations focused on hosting trade related data in both cloud and on-premise and relying on a trade management software for processing it efficiently. Fluctuations in trade regulations is driving the demand for global trade management software in Europe. Rise in manufacturing production and retail sales volume growth has resulted in the demand for logistics and thereby the demand for global trade management software in APAC.

Global trade management software includes modules for trade compliance, import and export management, customs management, and others. Others include modules focused on logistics, transportation, and supply chain. Trade compliance is the procedure by which goods enter a country, in accordance with the rules and regulations of that country. Trade compliance module accounted for a major share of revenue generated by the global trade management software.

Global trade management software is deployed through cloud-based or on-premise deployment. Most of the end-users of global trade management software rely on on-premise deployment due to security concerns and need customized solutions. However, cloud-based deployments are expected to grow considerably during the forecast period since cloud-based deployment helps in reducing infrastructure maintenance costs and provides better visibility for business processes.

“Global trade management solutions have transformed from a trade compliance solution to a complete end-to-end solution for smoothening the trade processes from sourcing to logistics,” said Arjun Das, Senior Research Analyst, Infoholic Research

Key segments of the report include:

• Deployment:
  • On-premise
  • Cloud-based
• Offering:
  • Subscription
  • Services
• Mode of Trade
  • Online
  • Physical
    • Road and Rail Based
    • Air Based
    • Water Based
• Solutions
  • Trade Compliance
  • Import Management
  • Export Management
  • Customs Management
  • Others
• Region
  • North America
  • APAC
  • Europe
  • RoW

• Industry outlook: Market trends, drivers, restraints, and opportunities

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