Trade Management Software Market to Post 10.6% CAGR through 2023, Predicts Infoholic Research in Its New Report Now Available at MarketPublishers.com26 Sep 2017 • by Natalie Aster
LONDON – Today, the international trade is experiencing numerous revolutionary transformations and continues to undergo radical process changes majorly owing to fluctuating regulations. Thus, the necessity for an effective trade management has emerged.
Elevating demand for automating workflows and customs management, strong need for visibility and optimization in world supply chain, frequently changing trade regulations, robust urbanisation, are predicted to fuel growth in the world’s market for trade management software. This market is projected to exhibit a 10.6% CAGR during 2017-2023 to go beyond USD 1.15 billion in value. The expanding adoption of cloud in SMEs and ongoing technological advancements will also add to the market growth.
However, high implementation costs will likely perform as one of the key challenges of the market growth, as the major part of companies would hesitate in deploying software at a higher cost.
Presently, the North American region possesses the biggest share of the overall trade management market owing to high level of technological development in the sector. Meantime, the European region is spending hugely in the manufacturing industry and has vast opportunities in the market. The trade management software market will also see prominent growth in the APAC region encouraged by favourable government initiatives for smart city projects and rising FDI for the development of logistics infrastructure in this region. The MEA region is anticipated to witness the highest growth in the years ahead.
New research report “Trade Management Software Market – Global Drivers, Opportunities, Trends, and Forecasts to 2023” from Infoholic Research gives a comprehensive analysis of the world’s market landscape and dynamics at different geographical regions. It includes reliable market data, features key influencing factors, discusses top trends and issues, discusses competitive scenario and gives forecasts through 2023.
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