Dublin, Dec. 02, 2021 (GLOBE NEWSWIRE) -- The "Trade Management Market by Component (Solutions and Services), Deployment Type (On-Premises and Cloud), Organization Size, Vertical (Transportation and Logistics, Government and Public, Healthcare and Life Sciences), and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global trade management market size to grow from USD 0.9 billion in 2021 to USD 1.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% from 2021 to 2026. The major factors fueling the trade management market include the increasing volume of international trade, the emerging trend of digitization, government regulations and compliances, to boost the growth of trade management market across the globe during the forecast period.
Services to grow at a higher CAGR during the forecast period
Trade management services are vital to ensure the proper integration of trade management solutions with the complex network infrastructure placed in enterprises. Trade management services facilitate the smooth functioning of the solutions over a period of time by monitoring, maintaining, and upgrading the critical aspects of trade management solutions. Trade management helps accelerate the cross-border supply chain by automating and streamlining trade processes, handling control costs, reducing the risk of penalties and fines, and clearing customs faster. The services considered for this report are consulting, implementation and integration, and support and maintenance.
In deployment type segment, on-premises to have the highest market share during the forecast period
The on-premises deployment is the traditional deployment method. In the on-premises deployment, an enterprise has complete control over solutions, as solutions are physically implemented on the premises. One of the major reasons why enterprises are still adopting on-premises deployment is the enhanced control over solutions. Large enterprises that have the resources and capabilities to manage trade management solutions in-house opt for the on-premises deployment.
Increasing Volume of International Trade
Emerging Trend of Digitalization
Government Regulations and Compliances
Organizations Resistant to Change Legacy Systems or Adopt New Technologies
Advanced Features to Link with Existing Corporate Systems
New Innovations in Supply Chain as a Service
Increase in Consumer Expectations for Free and Fast Delivery
Lack of Capabilities to Manage Gtm Systems
Increase in Complexities Related to Trade Management
Thomson Reuters: to Provide the Onesource Global Trade Visibility (Gtv) Solution for Fulfilling Trade Compliance-Driven Supply Chain
Amber Road: to Produce Accurate and Standardized Trade Documents to All Origins and Destinations
Amber Road: to Provide Strategic Supply and Demand Chain Management
Oracle: to Provide Strategic Supply and Demand Chain Management
Global Custom Compliance
Mic Customs Solutions
Vigilant Global Trade Services
For more information about this report visit https://www.researchandmarkets.com/r/tqir85
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