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Dublin, March 09, 2022 (GLOBE NEWSWIRE) — The “Trade Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global trade management market reached a value of US$ 881 Million in 2021. Looking forward, the publisher expects the market to reach US$ 1,564 Million by 2027, exhibiting a CAGR of 10.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
The trade management refers to the computer applications and related services that aid an organization in centralizing and automating cross-border trade activities and operations. It digitally implements a trade sequence that includes discovering a set-up, determining allocation size, planning and monitoring the entry and exits of the trade. It also provides control and transparency over shipments, orders, and payments and includes modules for trade compliance, customs management and monitoring logistics. Owing to such associated convenience, trade management solutions find extensive applications across various industries, including retail and consumer goods, transportation & logistics, manufacturing, aerospace & defense and healthcare.
The emerging trend of digitization, along with rapid industrialization across the globe, represents as the key factors driving the growth of the market. Widespread adoption of the software solutions by traders to reduce their manual and back-office operations and optimize their business processes and trade activities is further contributing to the market growth. Moreover, increasing public and private investments in various logistics infrastructural projects, especially in emerging economies, for import and export management, is providing a boost to the market growth.
In line with this, the development of technologically advanced solutions that aid in improving supply chain agility, along with minimizing operational time and reducing distribution costs, is acting as another growth-inducing factor. These software solutions offer customizable process management platforms …
Full story available on Benzinga.com
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