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How Big is the Trade Management Market ? :
According to the latest report by IMARC Group, titled “Trade Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global trade management market size reached US$ 980 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,698 Million by 2028, exhibiting a growth rate (CAGR) of 10.1% during 2023-2028.
What is Trade Management ? :
Global Trade Management (GTM) is a comprehensive approach aimed at streamlining and optimizing the international trade processes and activities for businesses. It encompasses the entire lifecycle of global trade, including sourcing, logistics, cross-border compliance, and trade financing. It assists companies in efficiently navigating the complex landscape of international trade regulations and tariffs. Integrating technology and applying specialized management practices ensures that international trade operations are conducted smoothly, in compliance with international laws, and as cost-effectively as possible. In essence, GTM provides a strategic framework to manage, control, and execute global trade operations, allowing businesses to penetrate new markets and enhance competitiveness on a global scale.
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Global Trade Management Market Trends and Demand:
The Global Trade Management market is experiencing robust growth, driven by the continuous expansion of international trade and globalization. This has led to a more complex regulatory environment, necessitating advanced tools and services for compliance management. This is propelling the demand for GTM solutions. Additionally, the emergence of cloud-based GTM solutions is enabling even small and medium-sized enterprises to engage in global trade with more efficiency and agility. Along with this, technological advancements in Artificial Intelligence (AI) and Machine Learning (ML) are further enhancing the capabilities of GTM, enabling more intelligent decision-making and predictive analytics.
Furthermore, the increased focus on reducing trade costs and improving supply chain visibility is boosting the adoption of GTM across various industries. Apart from this, the trend towards eco-friendly and sustainable trade practices is also shaping the market, with companies increasingly aligning their trade operations with environmental and social responsibility guidelines. In conclusion, the fusion of technology, regulatory compliance, and strategic alignment with global trade objectives is driving the market.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
