North America trade management software market in is expected to grow from US$ 246.4 Mn in 2018 to US$ 442.0 Mn by the year 2027. This represents a CAGR of 6.8% from the year 2018 to 2027.
This implementation of software systems improves the supply chain and also offers real-time visibility. Increased competitiveness in the industry is the major reason for industries investing in automation and digitization. Moreover, the adoption of the cloud-based solution is expected to provide real-time visibility of exported goods. Few of the trends expected to boost the global trade management software market during the forecast period are blockchain, artificial intelligence, and predictive analysis implementation in logistics operations.
The cloud-based deployment is creating a huge opportunity for trade management vendors. The increasing adoption of cloud technology and improving IT infrastructure is driving the global trade management software market. A SaaS model allows the business to replace patchworks of legacy products and manual processes with a comprehensive solutions suite that automates trade from the time a purchase order is placed with an overseas supplier to the time a shipment is delivered. Vendors are shifting from traditional on-premise deployment to cloud-based deployment. The cloud-based deployment is a new revenue growth model and is expected to witness high demand during the forecast period.
The North America trade management software market is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies, which would accelerate the North America trade management software market. The trade management software market is highly competitive with the presence of some of the major players which hold the major share the trade management software market.
The North America trade management software market by deployment is segmented into cloud and on-premise. The cloud-based deployment is different from on-premise deployment software in one critical way. The company hosts the entire process and management of software within the enterprise in an on-premise environment, whereas, in the cloud, a third-party provider arranges and manage entire activities for the enterprise.
The benefit of third party providers permit the companies to pay on the basis of requirement and effectively scale up or down subject to the requirement of the user, overall usage, and growth of the company. The cloud-based uses exploit virtual technology in order to host the applications of enterprises offsite.
Therefore, it is largely adopted by small and medium enterprises. Deployment of cloud eliminates capital-related overheads, the feature of data back up on a regular basis is available, and also the companies are entitled to pay only for the resources they utilize. It is feasible for the enterprises which plan an expeditious expansion at a global scale, as the cloud has greater appeal to connect with more partners, clients, customers, and other businesses across the locations with minimum effort.
Some of the players present in North America trade management software market are
Amber Road, Inc.
Bamboo Rose LLC
Expeditors International of Washington, Inc.
Integration Point LLC
Key Topics Covered:
1. Introduction 1.1 Scope of The Study 1.2 Research Report Guidance 1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. North America Trade Management Software-Market Landscape 4.1 Market Overview 4.2 PEST Analysis 4.3 Ecosystem Analysis
5. North America Trade Management Software Market - Key Industry Dynamics 5.1 Drivers 5.1.1 Growing complexities in global trade management is aiding the growth of global trade management software market 5.1.2 Real-time visibility and cost reduction is driving global trade management software market 5.2 Restraints 5.2.1 Evolving rules and regulations lead to unexpected expense and impact the business 5.3 Opportunities 5.3.1 SaaS-based deployment is expected to project huge opportunity for Global Trade Management (GTM) vendors 5.4 Future Trends 5.4.1 Integration of advanced technologies with a trade management software 5.5 Impact Analysis of Drivers and Restraints
6. North America Trade Management Software-Market Analysis 6.1 North America Trade Management Software Market Overview 6.2 North America Trade Management Software Market Forecast and Analysis
7. Trade Management Software Market Revenue and Forecasts To 2027 -Component 7.1 Overview 7.2 Component Market Forecasts and Analysis 7.3 Solutions 7.4 Services
8. North America Trade Management Software Market Revenue and Forecasts to 2027 - By Deployment 8.1 Overview 8.2 Deployment Market Forecasts and Analysis 8.3 Cloud 8.4 On-Premise
9. North America Trade Management Software Market Revenue and Forecasts to 2027 -Organization Size 9.1 Overview 9.2 Organization Size Market Forecasts and Analysis 9.3 Small Enterprise 9.4 Medium Enterprise 9.5 Large Enterprise
10. North America Trade Management Software Market Revenue and Forecasts to 2027 -End-User 10.1 Overview 10.2 End-User Market Forecasts and Analysis 10.3 Retail & Consumer Goods 10.4 Automotive 10.5 Logistics & Transport 10.6 Healthcare & Pharma 10.7 Government, Aerospace & Defense 10.8 Chemicals & Minerals 10.9 Manufacturing 10.10 Others
11. North America Trade Management Software Market - Country Analysis
12. Industry Landscape 12.1 Mergers and Acquisitions 12.2 Agreements, Collaborations and Joint Ventures 12.3 New Product Launches 12.4 Expansions and Other Strategic Developments