In today’s rapidly evolving business landscape, trade management software plays a crucial role in helping companies streamline their operations, improve efficiency, and stay competitive in the global market. This blog post will delve into the latest industry statistics surrounding trade management software, offering valuable insights into market trends, adoption rates, and the future outlook for this rapidly growing sector. Join us as we explore the data driving the Trade Management Software Industry forward.
The Latest Trade Management Software Industry Statistics Explained
The global trade management software market size was valued at USD 759.2 million in 2019.
This statistic indicates that the global trade management software market, which comprises software solutions designed to streamline and optimize various aspects of international trade operations such as import/export compliance, supply chain visibility, and trade finance management, was valued at USD 759.2 million in the year 2019. This figure represents the total revenue generated by sales of trade management software globally during that year. A high market value suggests a strong demand for such software solutions, likely driven by factors such as increasing international trade volumes, complex regulatory requirements, and the need for businesses to enhance efficiency and compliance in their global trade activities.
The market is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2020 to 2027.
The statement indicates that the market is projected to increase in size or value each year at a consistent rate of 10.0% from the base year 2020 to the end year 2027. The compound annual growth rate (CAGR) is a measure used to understand the growth rate over multiple time periods, taking into account the effect of compounding. A CAGR of 10.0% means that, on average, the market is expected to grow by 10.0% each year over the specified 7-year period. This growth rate provides insights into the overall potential expansion of the market over time and can help stakeholders in forecasting and strategic decision-making.
About 57% of respondents to a 2019 survey said they use a global trade management (GTM) software.
In 2019, a survey was conducted where respondents were asked about their use of global trade management (GTM) software. The statistic indicates that approximately 57% of the respondents reported using GTM software. This finding suggests that a majority of the surveyed individuals were utilizing such software for managing their global trade operations, which could range from compliance with regulatory requirements to optimizing supply chain processes. The statistic provides insight into the prevalence of GTM software adoption among businesses or individuals involved in global trade activities, highlighting its perceived importance and utility in modern trade management practices.
North America dominated the market in 2019 with a share of over 30%.
This statistic indicates that North America held a significant position in the market during the year 2019, surpassing other regions with a market share of over 30%. This suggests that North America’s businesses, industries, and economic activities outperformed those of other regions in terms of market presence and performance. The domination of the market by North America may be attributed to factors such as strong economic growth, technological advancements, market size, consumer demand, and competitive advantages within the region. This statistic highlights the importance and influence of North America in the global market landscape, reflecting its competitive position and potential for further growth and expansion in the future.
The cloud-based segment is expected to exhibit the highest CAGR over the forecast period.
The statement indicates that the cloud-based segment, which refers to computing services delivered over the internet rather than through physical infrastructure, is projected to have the highest Compound Annual Growth Rate (CAGR) compared to other segments within a specific time frame. This implies that the demand and adoption of cloud-based services are anticipated to increase steadily and significantly over the forecast period, likely due to factors such as scalability, cost-effectiveness, and flexibility of cloud solutions. This trend suggests a positive outlook for the cloud computing industry and signifies a growing preference for cloud-based technologies among businesses and consumers.
The small- & medium-sized enterprises segment accounted for over 45% of the overall revenue share in 2019.
This statistic indicates that the small- and medium-sized enterprises (SMEs) collectively made up more than 45% of the total revenue generated within a specific industry or market in the year 2019. This suggests that SMEs played a significant role in driving the overall economic activity and financial performance within that particular sector. The prominence of SMEs in contributing to the revenue share highlights their importance as key players in the industry, underscoring their impact on market dynamics, competition, and overall financial success. This statistic also suggests that policies and strategies targeted towards supporting and empowering SMEs could have a notable influence on the economic landscape and growth potential of the industry.
Automotive end-use segment in the global trade management software market accounted for a revenue share of over 20% in 2019.
The statistic indicates that the automotive end-use segment, which refers to the automotive industry’s utilization of trade management software, had a significant impact on the global market in 2019 by contributing to over 20% of the total revenue generated by the trade management software market. This suggests a strong presence and reliance of automotive companies on trade management software to streamline their global trade operations, manage supply chain activities, and ensure compliance with regulations. The substantial revenue share attributed to the automotive sector underscores its importance and influence within the overall market landscape, highlighting the industry’s recognition of the value and benefits offered by trade management software solutions.
The Asia Pacific region is expected to exhibit the highest CAGR from 2020 to 2027.
This statistic suggests that the Asia Pacific region is projected to experience the highest Compound Annual Growth Rate (CAGR) among all regions from the year 2020 to 2027. A high CAGR indicates a strong potential for economic and market expansion in the region over this period. This growth could be driven by various factors such as population growth, increasing consumption, advancements in technology, favorable government policies, and emerging market trends. Companies and investors looking to capitalize on growth opportunities may find the Asia Pacific region particularly attractive due to its potential for high returns on investment during this timeframe.
The global trade management software market for retail sector is projected to reach USD 340 million by 2027.
This statistic reveals a projection for the growth of the global trade management software market specifically within the retail sector, estimating that it will reach a total value of USD 340 million by the year 2027. This forecast suggests a significant expansion in the adoption of trade management software by retail companies worldwide over the coming years, driven by factors such as increasing globalization, shifting consumer preferences, and the need for more efficient supply chain management processes. The anticipated growth in this market indicates a growing recognition among retail businesses of the importance of utilizing such software solutions to streamline their operations, enhance visibility across their supply chains, and ultimately improve their competitiveness in the dynamic retail industry.
64% of companies that use GTM software did so to automate and establish repeatable processes.
The statistic “64% of companies that use GTM software did so to automate and establish repeatable processes” indicates that a majority of companies adopting GTM (Go-to-Market) software are motivated by the desire to streamline and standardize their business operations. By leveraging such software tools, these companies aim to automate tasks and routines, thereby increasing efficiency, reducing errors, and ensuring a consistent approach to their go-to-market strategies. This statistic highlights the growing importance of automation and process standardization in the modern business landscape, as organizations seek to optimize their operations and enhance their overall competitiveness.
Approximately 68% of GTM software users are from companies with more than $1 billion in revenue.
This statistic suggests that a significant proportion, around 68%, of users of the GTM (Go-To-Market) software come from companies that have annual revenues exceeding $1 billion. This indicates that the software is primarily utilized by large-scale enterprises rather than small or medium-sized businesses. The finding may reflect the advanced features or scalability of the software that align well with the needs and resources of larger organizations. Consequently, companies with substantial revenues are more likely to invest in and benefit from the capabilities offered by the GTM software, potentially leveraging it to enhance their market strategies, streamline operations, or optimize sales and marketing processes.
The trade management software market in the MEA region was valued at $76 million in 2019.
The statistic stating that the trade management software market in the Middle East and Africa (MEA) region was valued at $76 million in 2019 indicates the total financial worth of the market for software tools designed to optimize and streamline trade operations in this region during that year. This figure represents the overall value of the market in terms of revenue generated from the sale of trade management software solutions, which are used by businesses to enhance their efficiency in handling various aspects of trade activities such as supply chain management, inventory tracking, and compliance. The $76 million value provides insight into the size and significance of the trade management software market in the MEA region, highlighting the demand for such technologies and the potential for growth and investment in this sector.
The logistics and transportation segment is expected to expand at a CAGR of 11.5% from 2020 to 2027.
This statistic indicates the expected compound annual growth rate (CAGR) for the logistics and transportation segment between 2020 and 2027. A CAGR of 11.5% suggests a steady and significant growth rate over the specified time period. This forecast implies that the logistics and transportation industry is poised for substantial expansion, potentially driven by factors such as increasing globalization, e-commerce growth, advancements in technology, and changing consumer preferences. Businesses operating within this sector can anticipate strong growth opportunities and increasing demand for their services, making it a promising area for investment and strategic planning.
The electronics and electrical vertical is expected to reach $180 million by 2027.
The statistic “The electronics and electrical vertical is expected to reach $180 million by 2027” signifies a projected increase in the total market value for goods and services within the electronics and electrical industry sector. This prediction reflects growth opportunities within this industry as demand for electronic and electrical products and services is expected to rise substantially by 2027. The figure of $180 million indicates the estimated value of the sector’s market size, suggesting significant potential for expansion and investment in technological advancements, products innovation, and overall economic growth within the electronics and electrical industry in the upcoming years.
30% of the companies use trade management software for improving their regulatory compliance.
The statistic that 30% of companies use trade management software for improving their regulatory compliance indicates the prevalence of these software solutions within the business sector. This could suggest a growing recognition of the importance of regulatory compliance in today’s business environment and a corresponding investment in technology to facilitate adherence to regulatory requirements. The use of trade management software likely signals a strategic approach to managing regulatory risks and enhancing operational efficiency for companies, highlighting a commitment to meeting compliance standards. Overall, this statistic implies that a significant portion of companies acknowledge the value of technology-driven solutions in navigating complex regulatory landscapes and safeguarding their business operations.
The Latin America regional market is likely to reach $95 million by 2027.
The statistic “The Latin America regional market is likely to reach $95 million by 2027” indicates a projected growth in market size for Latin America in the anticipated year. This suggests that economic activities in the region are expected to expand, leading to an increase in the overall market value. The prediction of reaching $95 million by 2027 serves as a forward-looking estimate that can help guide businesses, policymakers, and investors in their decision-making processes. It signifies potential opportunities for growth and development in the Latin American market over the next few years, highlighting the region’s economic prospects and market potential.
The on-premise segment held a significant market share of more than 55% in 2019.
The statistic indicates that the on-premise segment, referring to products or services that are deployed and managed within a customer’s own facility rather than in a cloud-based environment, accounted for a substantial portion of the market in 2019. With a market share of more than 55%, the on-premise segment was a dominant force within the industry during that year. This suggests that a majority of businesses or consumers preferred to acquire and manage their products or services locally, rather than relying on cloud-based solutions. The significance of this market share highlights the continued relevance and popularity of on-premise offerings in meeting the needs and preferences of consumers within the industry as of 2019.
Approximately 29% of GTM users use the software for visibility into their global operations.
This statistic indicates that roughly 29% of users of the GTM software utilize it primarily to gain insight and oversight into their international business activities. This suggests that a significant portion of GTM users are focused on monitoring and managing their global operations, possibly to optimize processes, ensure compliance, track shipments, or improve overall efficiency. Understanding this percentage provides valuable information about the specific priorities and needs of a substantial portion of GTM users, highlighting the software’s effectiveness in fulfilling these particular requirements related to global operations management.
The key market participants include Amber Road, Inc., Bamboo Rose LLC, Expeditors International of Washington, Inc., etc.
This statistic presents a list of key market participants in a specific industry or market segment, highlighting notable companies that are actively involved and influential within that market. In this case, the mentioned companies – Amber Road, Inc., Bamboo Rose LLC, Expeditors International of Washington, Inc., among others – are recognized as significant players in the industry, likely known for their market presence, size, innovation, market share, or other distinguishing factors. Identifying key market participants helps provide insights into the competitive landscape, industry dynamics, and potential trends or developments that may impact the market in question.
The trade management software market in the manufacturing sector is expected to register a CAGR of 8.7% from 2020 to 2027.
This statistic indicates that the trade management software market within the manufacturing sector is projected to experience a Compound Annual Growth Rate (CAGR) of 8.7% from 2020 to 2027. This suggests a consistent and steady increase in the market size and adoption of trade management software solutions by manufacturing companies over the forecast period. The expected CAGR of 8.7% signifies a robust growth trend, likely driven by factors such as increasing digitization, automation of trade processes, and the need for more efficient supply chain management within the manufacturing industry. Overall, this statistic highlights a positive outlook for the trade management software market in the manufacturing sector, indicating opportunities for software providers and potential benefits for manufacturing firms seeking to optimize their trade operations.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.statista.com
