MarketsandMarkets released its latest report, predicting growth from 0.9 billion to 1.3 billion USD by 2027. They expect a Compound Annual Growth Rate (CAGR) of 6.4%.
The report expects large enterprises to continue to dominate the market; their robust and extensive networks can handle the import and export of high-value items worldwide.
They also claim that transportation and logistics will have the highest market share as globalization continues and new tech is more widely adopted. With the digital transformation of this sector and the pressure to reduce operational costs and streamline trade, tools allowing more visibility will only help companies.
Further, the report anticipates that North America will hold the largest trade management market share as it has widely embraced technology adoption and infrastructure. Continued expansion of infrastructure will drive growth here.
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