Trade Management Software Market To Reach $1.72 Billion By 2030

Trade Management Software Market Growth & Trends

The global trade management software market size is expected to reach USD 1.72 billion by 2030, registering a CAGR of 4.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rapid changes in international trade regulations coupled with growing complexities of international trade and commerce are providing a fillip to the market.

In recent years, global exports have witnessed high growth owing to surge in consumer demand, changing demographics, and technological advancements. As a result, pressure on logistics and supply chain management is increasing, which is impelling businesses to adopt sophisticated technologies such as trade management software. As the software offers numerous advantages, including optimizing business processes, minimizing costs, and automating finance functions, the logistics and transportation industry is anticipated to adopt these solutions at a rapid pace.

An important factor that has been instrumental in promoting the implementation of trade management software and services is the integrated compliance and regulatory functions. With growing international transactions and intermittent international security hurdles, the need for adherence to policies and procedures is increasing among business operators.

While transportation and logistics is one of the largest adopters of trade management software, industries such as aerospace & defense, manufacturing, and retail are also gaining traction. Ability of these systems to provide supply chain visibility, automate processes, and document management has been an important driver in the aforementioned sectors. However, transition from legacy systems to new technologies can deter the growth of the market.

Various industries are making high IT investments in order to keep up with changing technology landscape, due to which the market for trade management software is estimated to expand in the coming years. In addition, increasing adoption by small and medium businesses coupled with high potential offered by emerging economies are projected to shape the future of the market.

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Trade Management Software Market Report Highlights

• North America trade management software market dominated the market with a revenue share of 37.6% in 2023. The region's strong economy, along with many multinational corporations, has created a favorable environment for implementing advanced trade management solutions.

• The solution segment dominated the market and accounted for a revenue share of 61.7% in 2023. The increasing complexity of global trade, characterized by intricate regulations, evolving trade policies, and geographically dispersed supply chains, requires efficient and compliant trade operations.

• The on-premise deployment accounted for the largest revenue share in 2023. Companies managing sensitive trade information and the existing IT infrastructure investments attribute this dominance to the increased focus on security and control.

• The transportation & logistics segment dominated the market in 2023. Adopting advanced software solutions in transportation and logistics has become necessary due to the growing complexity of global supply chains and the need for improved visibility and efficiency in freight operations.

• Asia Pacific's trade management software market is anticipated to witness the fastest CAGR over the forecast period. The region's growing economies and the growing complexity of worldwide supply chains have generated a crucial demand for effective trade management solutions.

Trade Management Software Market Segmentation

Grand View Research has segmented the global trade management software market on the basis of on components, deployment, end-use, and region:

Trade Management Software Components Outlook (Revenue, USD Million, 2018 - 2030)

• Solutions

• Services

Trade Management Software Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• On-premise

• Cloud

Trade Management Software End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Energy

• Government

• Healthcare

• Manufacturing

• Retail

• Transportation & Logistics

• Others

Trade Management Software Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

List of Key Players in the Trade Management Software Market

• E 2open, LLC. (Amber Road, Inc.)

• Aptean

• Integration Point, Inc.

• Livingston International

• MIC.

• Noatum Logistics (MIQ Logistics, LLC)

• Precision Software LLC

• Oracle

• Descartes QuestaWeb

• THE DESCARTES SYSTEMS GROUP INC