Europe trade management software market in is expected to grow from US$ 194.9 Mn in 2018 to US$ 430.7 Mn by the year 2027. This represents a CAGR of 9.3% from the year 2018 to 2027. When compared to domestic distribution management, global trade management is much complicated in terms of currencies, regulations, multiple languages, time zone, and mode of transport. Moreover, the involvement of the huge number of parties in a single international shipment makes it even more complicated. The government regulations related to international trade is highly complex and ever-changing. Organizations have to review and act on the high volume of regulatory information, which is often published on paper in varying formats.
With the increasing trade complexities and business need, supply chain leaders are identifying the emerging technologies which are relevant to the trade operations. Vendors are integrating advanced technologies with trade management software. The emerging technological trend that is most relevant to trade management is blockchain, artificial intelligence (AI), internet of things (IoT), advanced analytics, conversational systems, robotic process automation (RPA), and others. Since last few years, there has been a steady increase in trade management practitioners exploring the potential of IoT. In global trade management software, IoT means a network of physical objects that contains embedded technology to communicate with the internal and external environment. These new technology trends are expected to have a significant positive impact on the growth of the trade management software market.
The Europe trade management software market is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. Trade management software market is a highly competitive market with the presence of some major market players as well as tire two companies.
The Europe trade management software market by enterprise size is segmented into small enterprise, medium enterprise, and large enterprise. Small enterprises hold a significant share of trade management software market. Small enterprises are a remarkable factor for every country?s economic growth and the generation of maximum share of employment. However, the internationalization process supports better production and distribution technologies, which help improve competitiveness and profitability for these enterprises. Generally, small enterprises allocate a large portion of their resources to handle core business activities, mainly to minimize production and other related costs. Supply chain management is one of the key element for several companies which is accessible to every enterprise. It is significant for small enterprises in order to successfully compete in the global market. Trade management software enables SMEs to enhance their performance of logistics operation by adopting suitable supply chain management strategies.
The overall Europe trade management software market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe trade management software market. It also provides an overview and forecast for the Europe trade management software market based on all the segmentation provided with respect to the Europe region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts, and key opinion leaders specializing in the Europe trade management software industry. Some of the players present in Europe trade management software market are Amber Road, Inc., Bamboo Rose LLC, Expeditors International of Washington, Inc., Integration Point LLC, Livingston International, MIC, Oracle Corp, QAD, Inc, QuestaWeb, and SAP SE among others.