The increasing sophistication of the worldwide supply chain and also the necessity to control the risks involved in cross-border trade have created a market for trade management. Trade management solutions give businesses visibility throughout the whole supply chain while automating and streamlining their trade procedures. These technologies give businesses the ability to adhere to trade laws, improve their logistical processes, and lower the expenses of international trading.
The Trade Management Software Market was valued at USD 1.17 billion in 2022 and is expected to grow at a CAGR of 10.48% from 2023 to 2030, reaching USD 2.61 billion by 2030.
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COVID-19 Impact and Market Status
The worldwide market for trade management has been significantly impacted by the COVID-19 epidemic. Due to the restrictions put in place by various countries to stop the virus's spread, the pandemic outbreak has caused a fall in cross-border trade. As a result, firms are delaying their choice to install trade management solutions, which has negatively impacted the market for these solutions. The market is anticipated to recoup in the upcoming years, though, as these restrictions are gradually eased.
The Cloud-based Type to Emerge as the Most Lucrative Segment
The market is split into two segments based on types: cloud-based and on-premise. Of these, it is projected that the cloud-based solution category would expand quickly in the upcoming years. The flexibility, scalability, and cost-effectiveness that cloud-based solutions provide are credited with driving up adoption rates. Cloud-based solutions also offer real-time supply chain information and let businesses react swiftly to shifting market conditions.
The Trade Function Segment is the most Promising Functionality
The market is divided into four categories based on functionality: trade consultancy, trade finance, trade compliance and trade function. Of these, the commerce function sector is anticipated to command a sizeable market share in the upcoming years. The demand for effective management of import and export procedures is fueling the expansion of this market.
The Solution Segment to be the most Popular Component
The market is divided into two categories: solution and service, based on components. Of them, it is projected that the solution segment would expand quickly in the upcoming years. The flexibility, scalability, and cost-effectiveness that cloud-based solutions provide are credited with driving up adoption rates. Cloud-based solutions also offer real-time supply chain information and let businesses react swiftly to shifting market conditions.
The SMEs Segment is the most Emerging Organization Size
Small and medium-sized businesses (SMEs) and large businesses are the two market segments that are broken down based on enterprise size. In the next years, the market share of these is anticipated to be dominated by the SME segment. This market is expanding as a result of the SMEs' increasing demand for affordable and effective solutions.
The Retail and Consumer Goods Industry Segment is the Most Popular End-User
The market is divided into five groups based on end-users: manufacturing, aerospace and defence, healthcare, retail and consumer goods, and transportation and logistics. The Retail and Consumer Goods industry is among those whose future growth is predicted to be particularly rapid. This market is expanding as a result of the escalating demand for the effective administration of import and export procedures.
North American region to render Adequate Financing Avenues
Region-wise, the market is bifurcated into Asia Pacific, South America, Europe, North America and Middle East & Africa. The market for these is anticipated to be dominated by North America in the upcoming years. One of the primary reasons propelling the expansion of this regional market is the rising acceptance of cloud-based solutions and the presence of numerous important players here.
Due to trade globalization and the requirement for efficient supply chain management, the market for trade management is expanding quickly. The market is anticipated to expand further as a result of the growing demand for trade finance and compliance tools as well as the increased acceptance of cloud-based solutions.
An organization's global supply chain and trade activities are streamlined through the process of trade management. It entails coordinating several processes, including buying, procurement, logistics, and safety, to optimise the imports of goods and services process. Organizations can gain visibility into the whole supply chain with the aid of trade management tools, which also assist in automating and streamlining trade procedures. With the aid of these technologies, businesses may better manage their logistical processes, adhere to trade standards, and cut the price of international business.
The trade management industry offers advantages such as the opportunity to automate and consolidate trade operations as well as insight across the whole supply chain. These technologies give businesses the ability to follow trade laws, improve their logistical processes, and lower the expenses of international trading. In addition, the market for trade management is anticipated to expand further as cloud-based solutions are being adopted and there is a greater demand for commercial finance and compliance solutions.
The trade management market provides financial management, compliance management, logistics management, consultation, and other services. Solutions for managing trade compliance assist firms in adhering to rules governing international trade. These technologies automate a number of processes, including tariff categorization, export authorization, and product labelling. Solutions for managing trade finance assist businesses to improve their cash flow and cut the price of financing international business deals. Organizations may successfully manage their incoming and outgoing goods with the use of trade logistics management solutions. They allow businesses to track shipments in real-time and give visibility into the supply chain. Trade consultancy services assist businesses in developing and implementing successful trade strategies.
At a projected CAGR of 11.9%, the global market for trade management will increase from $884 million in 2019 to $1568 million by 2029. The usage of cloud-based trade service offerings is expanding, and there is a growing need for trade finance and compliance solutions. This rise is a result of both of these phenomena. SMEs are likely to control a sizable portion of the market over the projected timeframe.
The market for trade management is primarily driven by the globalization of trade and the requirement for the efficient supply chain management. Additional motivating considerations include the necessity to control the risks involved in cross-border trade and the continuous expansion of the worldwide supply chain. Further, market growth is anticipated to be fuelled by the increasing usage of cloud-based solutions as well as the rising demand for trade finance and compliance solutions.
One of the main concerns the trade management industry is dealing with is data security and privacy. Solutions for trade management store private data, including supplier, customer, and financial information. Concerns concerning data security and privacy are raised by this. Another difficulty the sector faces is the absence of standardisation in trading operations. Nevertheless, as more people adopt cloud-based solutions, these problems should be fixed.
The leading market participants in the trade management space include SAP SE, JDA Software Group, Inc., Oracle Corporation, Infor, Inc., Manhattan Associates, Inc., Ceridian HCM, Inc., Descartes Systems Group, Inc., and Amber Road, Inc. To suit the needs of their clients, these businesses are concentrated on diversifying their product offerings and offering cutting-edge solutions. In conclusion, this report offers a comprehensive analysis of the top companies in the worldwide trade management market, including information on their corporate structure, financial status, important offerings, and most recent advancements.
Recent Developments in the Trade Management Market
- Oracle Global Trade Management Cloud Service was unveiled in July 2019 as a new cloud service. This solution aids businesses in automating their international trade operations and adhering to trade laws.
- SAP SE unveiled SAP Global Trade Services, a new cloud-based programme, in May 2019. Organizations can manage their cross-border commerce operations more successfully with the aid of this service.
- Descartes Systems Group purchased cloud-based supply chain management solution provider C3 Solutions in March 2019. Descartes' presence in the market for international commerce management will grow thanks to this acquisition.
Trade Management Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 2.61 billion |
| Growth Rate | CAGR of 10.48 % during 2020-2030 |
| Segment Covered | deployment model, Regions |
| Regions Covered | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Key Players Profiled | mber Road, Inc., Aptean, THE DESCARTES SYSTEMS GROUP INC., SAP SE, Oracle, Precision Software, Livingston International, MiQ Digital Limited, MIC, QuestaWeb, Inc., Cognizant, OCR Services, Inc., WiseTech Global, Bamboo Rose LLC, MercuryGate International, Inc., IBM |
Key Segments of the Global Trade Management Market
Type Overview (USD Billion)
- On-premises
- Cloud-based
Functionality Overview, (USD Billion)
- Trade Finance
- Trade Consulting
- Trade Compliance
- Trade Function
Components Overview, (USD Billion)
- Services
- Solutions
Enterprise Size Overview, (USD Billion)
- Large Enterprises
- SMEs
End-User Overview, (USD Billion)
- Aerospace and Defence
- Manufacturing
- Transportation and Logistics
- Retail and Consumer Goods
- Healthcare
Regional Overview, (USD Billion)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- The rest of Europe
Asia Pacific
- China
- India
- Japan
- Asia-Pacific as a whole
South America
- Mexico
- Brazil
- South America's remaining countries
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of trade management market in 2030 was USD 2.61 billion
The trade management market is growing at a CAGR of 10.48% over the forecast period.
The top companies that hold the market share in trade management market are SAP SE, JDA Software Group, Inc., Oracle Corporation, Infor, Inc., Manhattan Associates, Inc., Ceridian HCM, Inc., Descartes Systems Group, Inc., and Amber Road, Inc & among others.