Published Date : Dec 26, 2016
ALBANY, NY, Dec 26, 2016: The global trade management (GTM) software market is expected to gain strength with the hike in international transportation and logistics cost and operational expenses as fuel prices and global trades increase. A report titled “Global Trade Management Software Market 2016-2020” has offered intelligent profiling of the top nine players in the market.
For the forecast period 2016–2020, the global trade management software market is anticipated to see a rise at a 12.2% CAGR. With minimal service differentiation, GTM software companies will look to develop more skills and introduce new products in the market. One of the top nine vendors, Integration Point, offers an integrated platform where clients can capitalize on efficient GTM solutions to challenge the intricacies involved in duty suspension, import, and export activities. With facilities such as order collaboration, automated restricted party screening, and supply chain analytics, Amber Road and Oracle have managed to maintain supremacy in the market.
Other key vendors discussed in the report are QuestaWeb, Aptean, Infor, Descartes, SAP, and Precision Software. Eminent players including CargoWise, Kewill Technologies, MercuryGate International, TradeStone Software, and MIC Custom Solutions are also expected to impact the GTM software market.
With customized and specific solutions in the offering, GTM software companies help trading firms gain an upper hand over their competitors by streamlining their supply chains and automating their business processes. Besides this, GTM solutions can be leveraged to ensure systematic and productive communication between logistics and transportation partners, foreign trade services, brokers, and other mediators. Businesses can also achieve greater visibility in their supply chain network as the solutions allow real-time access to various elements of the supply chain.
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Research analysts have marked a 4%-10% reduction in the transportation cost incurred by trading organizations with the adoption of GTM solutions. Trade businesses have significantly eliminated the ineptness associated with manual operations while refining the accuracy and quality of trading processes.
The Americas held a gigantic share in the global trade management software market in 2015 with North America emerging as the pick of the segments in the region. The report also segments the market into other regions, viz. Asia Pacific (APAC) and Europe, the Middle East, and Africa (EMEA). On the basis of end user, the global trade management software market is segmented into manufacturing, retail and consumer goods, and transportation and logistics services. The transportation and logistics services segment had adopted GTM software solutions at an early stage in the market.
The global trade management software market is predicted to make a cutback due to the inadequacy of overarching integration strategies and increase in complications related to interoperability. However, this restraint will be compensated as buyers acquire business analytics and intelligence in global trade management.
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