Global trade
management solutions support logistics management, regulatory compliance, and
financial information relating to the import and export processes in an
organization. These solutions also help to streamline and automate business
processes, and enable businesses to determine their total landed cost. The
trade management process helps increase productivity, enables real-time access
to different supply chain components, and increases visibility across the
entire organization.
Analysts forecast
the Global Trade
Management Software market will
grow at a CAGR of 10.92 percent over the period 2013-2018.
The emergence of
cloud-based solutions is a recent trend witnessed in the market. Enterprises
across the globe are increasingly adopting cloud computing and cloud-based
services to meet their requirements. Enterprises have now realized the cost
benefits associated with adopting cloud-based services. This is because
cloud-based services offer various advantages such as rapid scalability, easy
access, uninterrupted service, and high security. With the emergence of cloud
computing, companies are trying to shift their data onto a hosted system. Thus,
organizations now prefer software through the cloud model instead of deploying
licensed versions of the software on their premises. Therefore, the emergence
of cloud-based solutions is expected to propel the growth of the market during
the forecast period.
Covered in this Report
The Global Trade
Management Software market can be segmented by geography into North America,
the EMEA region, the APAC region, and Latin America. The report considers
revenue generated from sales of trade management software and related services
to companies that are engaged in the export and import of goods.
Global Trade
Management Software Market 2014-2018, has been prepared based on an in-depth
market analysis with inputs from industry experts. The report covers North
America, the EMEA and APAC regions, and Latin America; it also covers the
Global Trade Management Software market landscape and its growth prospects in the
coming years. The report also includes a discussion of the key vendors
operating in this market.
According to the
report, one of the major drivers is increasing investment in the domestic
supply chain. The domestic supply chain is considered to be important by many
companies as it generates most of their revenue. Moreover, organizations are
using trade management solutions to keep track of all the components of the
supply chain as well as reduce total landed and operational costs. Also,
enterprises are deploying travel management software to improve their business
processes.
Further, the report
states that one of the major challenges faced by enterprises in this market is
the high cost of implementation. The deployment of trade management software in
enterprises is an expensive process. Moreover, its applications need a very
conservative and usually costly process of defining requirements. This in turn
increases the criticality of the process because, once the deployment process
has been started, companies incur high costs to make further changes.
