Global trade compliance (GTC) solutions automate and streamline processes related to customs and regulatory compliance. GTC solutions automate the discovery, creation, retention, analysis, and communication of information about international supply chains that is of importance 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.
Global trade compliance solutions support communications with international government authorities regarding:
- Duties, tariffs, and preferential treatment requirements placed by governments on international trade and commerce
- Non-financial trade regulations issues, such as restricted parties, government licensing of export rights for controlled items, and other regulations
"The global trade compliance market has matured to a point where customers require capabilities that support trade compliance with the authorities of numerous countries. Customers now want to obtain integration capabilities that provide a holistic view of the enterprise and technology standardization that offers a lower total cost of ownership. Traditionally compliance-based solution markets do not grow as quickly as the GTC market is growing. GTC solutions can have a very good ROI that goes far beyond the automation of trade compliance markets. Several leading suppliers of GTC are also investing in artificial intelligence and machine learning to simplify and improve trade classification capabilities," according to Steve Banker, VP Supply Chain Management, and key author of ARC's Global Trade Compliance Systems Market Research Report.
Global Trade Compliance Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- AI and Machine Learning Ease Trade Classification
- GTC Is Increasingly Viewed as Strategic
- GTC Supports Efficient Sourcing
- Trade Conflict Drives the Need for GTC
Leading Suppliers to the Global Trade Compliance Systems 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: Descartes Systems Group, E2open, MIC, SAP, Thomson Reuters.
About the Global Trade Compliance Systems Research
This ARC research explores current and historical market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the Global Trade Compliance Systems market. 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, plus five-year market forecasts by region, industry, revenue category, and customer tier.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel): Personalized spreadsheet includes three years of historical data in addition to the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF): Provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
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