Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Trade Management Software Market size is expected to reach $1.9 billion by 2028, rising at a market growth of 9.0% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 11.4% during (2022 - 2028). The market's services could be further broken down into consulting and support & maintenance. These services frequently make up the auxiliary portion of the software. Along with that, many companies opt for trade management services in order to keep themselves more focused on their main goals.
The Transportation & Logistics segment is leading the Global Trade Management Software Market by End-use 2021 thereby, achieving a market value of $519.7 million by 2028. The segment's expansion can be attributable to the growing demand for single-source record keeping and end-to-end visibility into shipments that are in route. Additionally, the significant rise in worldwide traffic brought on by growing globalization and the creation of new trade routes would aid in meeting the rising demand for freight transport in the decades to come.
The Cloud segment has shown the growth rate of 10.7% during (2022 - 2028). Software-as-a-service (SaaS) deployments enable for the central management of processes, and on-demand subscription models charge clients dependent on the amount of subscriptions they have. Because it offers a high level of process agility at reduced costs, cloud deployment is increasingly popular with small and medium-sized businesses.
The North America market dominated the Global Trade Management Software Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $650.9 million by 2028.The Europe market is exhibiting a CAGR of 8.6% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 9.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Oracle Corporation, SAP SE, The Descartes Systems Group, Inc., QAD, Inc. (Thoma Bravo), E2open Parent Holdings, Inc., Aptean, Inc. (Vista Equity Partners), Livingston International Inc. (Platinum Equity, LLC), and MIC Datenverarbeitung GmbH.
By End User
By Deployment Type
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