The inclusion of trade compliance as important feature to gain traction in the market. An enterprise that seeks to take its products and services to global market tends to lose money and put itself at risk if it makes decision without considering the effects on its supply chain, due to trade compliance. Technavio’s analysts have predicted that the trade management software (GTM) market will register a CAGR of almost 12% by 2022.
Market Overview Growing need for improved supply chain efficiency Enterprise’s growing need to improve supply chain efficiency is one of the major factors driving growth in the trade management software market. The implementation of software is allowing enterprises reduce costs through better route planning and effective load optimization. High integration and implementation costs One of the challenges that GTM software market faces is high integration and implementation costs of the software. Huge amount to be spent by consultants for the integration of trade management software. For the detailed list of factors that will drive and challenge the growth of the trade management software market during the 2018-2022, view our report.
Competitive Landscape The market appears to be fragmented and with the presence of several companies including QAD and QuestaWeb the competitive environment is quite intense. Factors such as the inclusion of trade compliance as important feature and the growing need to improve supply chain efficiency, will provide considerable growth opportunities to trade management software manufactures. Amber Road, The Descartes Systems Group, Integration Point, QAD, and QuestaWeb are some of the major companies covered in this report.
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