Trade Management Software Market to 2027 - Global Analysis and Forecasts by Component (Solutions, Services); Deployment (Cloud, On-premise); Organization size (SMEs, Large Enterprise); End-user (Government, Defense, Pharmaceuticals, Transportation, Logistics, Others)
The global trade management software market was valued at US$ 712.3 Mn in 2018 and is expected to grow at a CAGR of 9.6% during the forecast period 2019 - 2027, to account to US$ 1,607.2 Mn in 2027. Factors such as complexities in global trade management, cost reduction, and real-time visibility offered by trade management, and rising cross-border trade is driving the global trade management software market. However, frequent changes in the regulatory framework, act as a significant challenge for the global trade management software market growth in the coming years.
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Every business across the globe has several concerns related to trade management. These concerns are based on several factors, including the product's geographical location of sourcing, manufacturing, and shipping. Further, import and export volume of the products; compliance and security regulations of the delivery location; the multitude of FTAs and FTZs; the number of partners involved in the supply chain;