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The global Trade Management Market Size is expected to attain a market size of $0.99 billion by 2022, growing at a CAGR of 9.6% during the forecast period.
As compared to domestic distribution and supply chain management, the global trade management comes with the complexities of multiple languages, time zones, currencies, and various modes of transport. Adding to the complexity of the process is the number of parties involved in the process of a single international shipment. The laws that govern the global trade are many, with inherent complexity, always changing. The organizations willing to participate in the process must review and act on a wide range of regulatory data, which is generally published in varying formats. The challenges that are presented above are complex and difficult to master without a right solution. Growing number of international trades and expenditure on fuel have significantly contributed to the overall operating cost of global logistics and transportation segment. The aforementioned factors have compelled many trading companies to add Global Trade Management solutions. Based on the type, the Trade Management market is segmented into Solution and Services.
The Solution market is segmented into Trade Function, Trade Compliance, Supply Chain Visibility and Trade Finance. Trade Function is further segmented into ImportExport Management, Vendor Management and Others. Trade Compliance is further segmented into Duty Management and Risk & Quality Management. Trade Finance is further segmented into Insurance Management, Invoice Management and Others. The Services market is segmented into Consulting, Implementation and Support & Maintenance. Based on Organization size, the market is segmented into Small & Medium Sized Enterprises and Large Enterprises. Based on Deployment Type, the market is segmented into Cloud based and On-Premise.
The verticals covered under the report include Transportation & Logistics, Healthcare & Life Sciences, Government & Public Utilities, Consumer Goods & Retail, Aerospace & Defense, Manufacturing, Energy & Utilities and Others. Based on region, Trade Management market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Trade Management market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022). The report covers the analysis of key stake holders of the Trade Management market.
Key companies profiled in the report include Oracle Corporation, SAP SE, Amber Road, Inc., MIC Customer Solutions, Precision Software, QuestaWeb, Inc., The Descartes Systems Group, Inc. and Aptean, Inc.