Technavio, a tech-focused market research firm, has published a new report on the GTM software market, which is expected to experience a steady growth rate with a CAGR of more than 12% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global GTM software market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the GTM software market into the following key regions: the Americas, APAC, and EMEA.
Geographical segmentation of the GTM software market for 2015 (market share %)
|
Americas |
46.23% |
|
EMEA |
34.25% |
|
APAC |
19.52% |
Source: Technavio
The Americas: largest revenue generating region for GTM software
The GTM software market in the Americas accounted for more than 46% of the global market during 2015. The market’s growth in this region is driven by factors such as increasing need for faster time-to-market, operational cost reduction, and efficient management of complex global supply chain. Increasing competition in all the industries in this region and the need for efficient global trade compliance management is expected fuel further growth of the market for GTM software in the Americas.
According to Amit Sharma, a lead analyst at Technavio for enterprise application, “Trading companies are increasingly automating their GTM processes to overcome the inefficiencies of manual processes, delays, and complications in exports and imports and non-compliance penalties. The automation of trading processes using GTM software can improve the quality, accuracy, and reliability of the processes. Some key process that can be GTM automated include import management, export management, duty management, financial transactions, and restricted party screening.”
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GTM software market in EMEA
During 2015, the GTM software market in EMEA accounted for more than 24% of the global market. The market’s growth in the region is attributable to the high demand for supply chain visibility in industries such as retail and consumer goods, and manufacturing. Countries such as Germany and the UK have a high number of manufacturing and retail and consumer goods companies who adopt GTM software to support their trade process in the international market. Increased awareness about GTM automation is expected to drive further growth of the GTM software market in EMEA during the forecast period.
GTM software market in APAC
The adoption of GTM software in APAC is still in its growth phase. The market is anticipated to undergo significant growth during the forecast period owing to the high demand for effective solutions to manage trade, reduce operational cost, and increase supply chain performance in the manufacturing industry in the region, especially in China, Japan, India, Australia, Indonesia, and South Korea. By 2020, the GTM software market in APAC is likely to reach a revenue of almost $277 million.
The top leading vendors operating in the GTM software market are:
- Amber Road
- Aptean
- Descartes
- Infor
- Integration Point
- Oracle
- Precision Software
- SAP
- QuestaWeb
Other prominent vendors in the market include CargoWise, Kewill Technologies, MercuryGate, MIC Custom Solutions, and TradeStone Software.
A more detailed analysis is available in the Technavio report titled, ‘GTM Software Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Trade Finance Market 2016-2020
- Global Automated Trading Market 2016-2020
- Global Online Project Management Software Market 2016-2020
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