According to a report by Global Market Insights, the global trade management market is worth USD 900 million in 2022 and will exceed USD 2 billion in revenue by 2032, growing at an annual rate of 5% between 2023 and 2032.
Growing need for greater visibility and transparency owing to increasing regulatory requirements, rising consumer awareness on social and environmental issues, and demand for greater operational efficiency, the trade management market is expected to grow during the forecast period 2023 to 2032 record a high compound annual growth rate.
Businesses are turning to technology-based solutions that provide real-time visibility into their supply chains to meet this need.
This has created a huge demand for solutions such as GPS tracking systems, RFID tags and other sensor-based technologies that allow businesses to monitor the movement of goods and track their location at various stages of the supply chain.
The solutions segment will gain momentum over the period 2023 to 2032, driven by an increase in the number of trading partners and compliance requirements and regulations. This enables businesses to offer trade management solutions to help manage their trade operations and mitigate risks associated with global trade.
The cloud-based trade management solutions segment will witness strong growth over the forecast period. Increasing investments by major cloud providers in developing regions will aid segment growth in the coming years. Moreover, cloud-based software offers easy upgrades, easy access, maintenance packages, and flexible pricing models, which may spur its adoption.
Considering the size, the SME sector will show a respectable growth rate by the end of 2032. Growing domestic economy, growing industry, and increasing globalization will drive the demand for trade management solutions among SMEs.
The retail industry will show a positive curve in 2023-2032. Retail Trade Management is used to maintain records of the import and export process, including the steps required to industrialize import and export of goods, monitor document exchanges with exchange partners, and provide vital records for important import order information.
The trade management industry in Asia Pacific is experiencing rapid growth owing to increasing population and growing economy. Additionally, growing logistics and e-commerce industries, especially in China, are expected to positively impact regional growth. In addition, “Made in China” has attracted a large amount of FDI, which will also have a positive impact on regional growth.
Some of the key players profiled in the trade management market report include Avecom, Calysta Inc, KnipBio, Quorn Foods, Alltech, Arbiom, Lonza Group, AG CHEMI group, IPK Gatersleben, Nutreco NV, Biomin Holdings Gmbh, Quality Liquid feeds, and Devenish Nutrition Limited of. – trade arab news agency