Global Trade Promotion Management Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Trade Promotion Management Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Trade promotion management software refers to a software program that allows companies to plan, execute, and manage trade promotion campaigns. The main goal of using the software is to increase sales, which in turn leads to increased profits. Manufacturers and retailers use trade promotion management solutions to increase demand by capitalizing on various strategies such as product display, pricing techniques, and attractive offers such as coupons and gifts. The software is usually used by people who deal with demand planning such as operations, finance, and sales staff.

Market Overview:

The latest research study on the global Trade Promotion Management Software market finds that the global Trade Promotion Management Software market reached a value of USD 870.99 million in 2022. It’s expected that the market will achieve USD 1511.31 million by 2028, exhibiting a CAGR of 9.62% during the forecast period.

Influence of COVID-19 Outbreak on Trade Promotion Management Software Industry Development

The outbreak of COVID-19 is affecting almost every region in the world. Each region has been affected by a significant growth and demotion. East Asia and the Pacific will grow by only 0.5%. South Asia will contract by 2.7%, Sub-Saharan Africa will contract by 2.8%, the Middle East and North Africa will contract by 4.2%, Europe and Central Asia will contract by 4.7%, and Latin America will contract by 7.2%. These downturns are expected to reverse years of progress towards achieving development goals and plunge thousands of people into extreme poverty. Emerging markets and developing economies will be hit by economic resistance from multiple quarters: a weak medical system, losses in trade and tourism, reduced remittances, insufficient capital flows, and increasing debt pressures that have led to tight financial conditions. Developed economies are expected to reduce 7%. This crisis has exceeded the speed of the global economy, and a global recession has become inevitable.
Due to the pandemic of COVID-19, the global economy is expected to lose nearly US$8.5 trillion in output value in the next two years, which will erase almost all the gains of the previous four years. The sharp economic contraction marked the worst contraction since the Great Depression in the 1930s, while the economic downturn at the beginning of the year was only 2.1%. And the outbreak of COVID-19 will aggravate the phenomenon of poverty and inequality. By 2030, 130 million people may join the ranks of the extremely poor, which has hit the global efforts to eliminate extreme poverty and hunger. This epidemic has greatly damaged low-skilled and low-paying jobs, while at the same time making high-skilled jobs less affected, which will further increase income inequality within and between countries.
In the specific environment based on the outbreak of COVID-19, the global economy has been significantly affected, resulting in challenges and opportunities for the development status of various industries. Since the COVID-19 virus outbreak in December 2019, the disease has spread to innumerable countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease (COVID-19) are already starting to be felt, and will significantly affect the Trade promotion management software market in 2020. COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. During the epidemic, the resumption of work, operations, revenue targets, and industry development of the trade promotion management software industry were all challenge.

For the trade promotion management software industry, although the impact of the epidemic is not as big as the tourism industry, film industry, fast-moving consumer goods store and other industries, the trade promotion management software industry will also be affected by the overall environment and economic downturn, especially the downstream industry of trade promotion management software. The downstream industry is greatly affected by the epidemic, which in turn has affected the sales and consumption of trade promotion management software.

Strength

Trade promotion management software itself has prominent advantages and is conducive to the development of the industry.
Some of the benefits include:
Effective promotions based on accurate and timely data and information.
Businesses can increase product visibility through brand awareness.
Increased revenue due to improved product visibility and effective campaigns.
Companies that use trade promotion management software are able to gather accurate information to help them make trade promotion decisions at the right time. The software provides useful trade promotion data making it possible for companies to plan their promotions based on analyzed data. Additionally, the software helps companies boost their ROI through promotions, increase their share of the market, gain competitive advantage, make accurate sales forecasts, and identify inefficiencies. A wide range of benefits of TPM software are rising demand for the trade promotion management software market during the forecast period.

Weakness

High implementation cost will be one of the major concerns for the market, as majority of the companies would hesitate in deploying software at a higher cost.
Trade promotion management software may not be so necessary for some people. Virtually any organization could function without trade promotion management software, which is not conducive to the development of the industry.
Protectionism is on the rise owing to the trade tensions between China and the US, which is expected to slow down trade growth. Hence, these policies are expected to subsequently hinder the market growth in the region

Region Overview:

North America had the highest growth rate of all regions.

Company Overview

Oracle is one of the major players operating in the Trade Promotion Management Software market, holding a share of 18.66% in 2020.

Oracle is a global provider of hardware and software systems. The company provides applications for integrating hardware and software to enable it to work in cloud, on-premises, servers, storages, and databases. Oracle GTM software helps organizations with the entire range of complex B2B trading relationships, optimizing the impact of investments across the demand chain. Its trade management solution for consumer goods helps to improve operations, optimize category management, and increase productivity and collaboration between all the internal and external functions. Furthermore, it allows the trading companies to centrally manage their global trade operations as well as automate, optimize, and monitor cross-border transactions.

As the cloud company powered by SAP HANA, SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world's transaction revenue touches an SAP system. SAP's machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition SAP simplifies technology for companies so they can consume software the way they want-without disruption. SAP's end-to-end suite of applications and services enables more than 413,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives.

Segmentation Overview:

Among different product types, On Premises segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Large Enterprises segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Trade Promotion Management Software market covered in Chapter 3:

Accenture
Blueshift
Wipro
SAP
CPGToolBox
IRI
Acumen Commercial Insights
McKinsey and Company
Oracle
Blacksmith Applications
Exceedra (AFS Technologies)
UpClear
RI
Anaplan

In Chapter 4 and Chapter 14.2, on the basis of types, the Trade Promotion Management Software market from 2018 to 2029 is primarily split into:

Cloud-Based
On-Premises

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Trade Promotion Management Software market from 2018 to 2029 covers:

Large Enterprises
Medium-Sized Enterprise
Small Enterprises

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)