ARC Advisory Group’s research of the Global Trade Compliance market reveals that it is experiencing steady growth and this trend will continue over the next five years. Global trade compliance (GTC) solutions automate and streamline processes related to customs and other government authorities responsible for regulation and taxation of cross-border trade. These solutions also enable companies to make optimal decisions with respect to the impact of customs and compliance on business operations. Companies have been reshaping their supply chains comprehensively for a while, and now they are increasingly integrating AI capabilities to go beyond digital transformation. Major steps toward complete digital transformation include cross-checking denied party lists, incorporating regulation responsibilities into dashboards, and using physical risk data like weather patterns to predict disruptions.
"As free trade diminishes, the demand for global trade compliance solutions will grow. Companies usually prefer integrated solutions over having to piece together different solutions to solve trade compliance problems. Potential customers prefer buying one solution rather than having to purchase multiple country-specific compliance solutions. A corporate-wide approach to GTC problems allows this process to be managed centrally but still allows regional requirements to be supported. Centralization improves global compliance adherence and can support labor efficiencies. ARC is also seeing more organizations that are starting to weave concepts of sustainability into some of their compliance programs. Companies are moving to a broader view of compliance as being part of a function that supports broader risk, image, and reputational considerations," according to Gaven Simon, Analyst and key author of ARC's Global Trade Compliance Systems Market Research.
Global Trade Compliance Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Forced Labor Regulations Is Driving Demand for GTC Solutions
- AI and Machine Learning Ease Trade Classification
- Trade Conflict Drives the Need for GTC
- GTC Supports Efficient Sourcing
Leading Suppliers to the Global Trade Compliance Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: AEB, Descartes Systems Group, E2open, MIC, SAP.
About the Global Trade Compliance Research
The Global Trade Compliance Systems research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and five years of historical analysis. The segmentation includes Industry, World Region, Revenue Category, Customer Tier, Industry.
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