Measure the breakthrough in import export intelligence
The global import export intelligence and analytics software market is expected to increase from $17.90 billion in 2015 to $26.78 billion in 2019, with a compound annual growth rate (CAGR) of 8.4 percent, according to the Federation of International Trade Association (FITA). Global revenue in import export intelligence and analytics market is forecast reaching $17.4 billion in 2017, an increase of 5.2 percent from 2016, according to the latest results forecast from European Commission.
Given today’s competitive business environment, many companies are looking for ways to optimize their import export operations and improve tactical and strategic decision-making. Import export intelligence and analytics softwares can help a variety of employees. This includes executives, financial analysts, marketing managers, purchase managers, and others. They can monitor and visualize real-time data across an organization and its industry. These BI software tools include intuitive dashboards, visual analytics, and reporting capabilities that help business professionals make sense of import export data and identify new opportunities to improve ROI.
Key Trends Driving the Market
The rise of mobile devices and huge volumes of import export intelligence within organizations are creating new opportunities for growth. Import export intelligence and analytics are expected to expand rapidly over the next five years. Companies are turning to BI tools to better understand their client’s behavior.
The market for import export intelligence and analytics software is nearing maturity in North America and Europe. Regions such as Asia Pacific, the Middle East and Africa, and Latin America are buying into these tools at a fast pace.
The demand for cloud-based tools is accelerating because of their user-friendly features and cost-effective price points. A number of niche companies have also entered the market, targeting small and medium businesses. We offer it with Import Radar. We’ve basically narrowed it down to a real simple solution with import export global trade data unlocked. Even with robust growth, challenges remain in the import export intelligence market. Workforces that lack skills may end up underutilizing these software tools. Data integration remains an issue as well.
Logistics, financial services, purchase, retail, chemicals, and freight will account for the largest percentage of the import export intelligence market. Other areas of opportunity include manufacturing, machinery and food industries.
Five Big Industries to Watch
Here are 5 big industries to keep in mind during the year looming ahead.
Global Transport Industry
Today’s lead-time requires companies to gauge & monitor competitive market share Companies must identify shippers, cargos, points of departure and arrival – They must also monitor carriers, non-vessel owning common carriers (NVOCCs), and intermediaries supplying transport in order to improve resource and allocation. Check out how our import export intelligence can help you here.
More professionals in this industry are now gathering and monitoring product demand. Chemical business experts have advanced by gauging supply and demand . Plus they need to compare and project trade flows, cycles, volumes and control costs, manage risk and strengthen negotiating positions. See samples of our chemical import export intelligence data. Click here.
Food & Beverage Industry
Having the latest import export intelligence is vital to your company’s ability to keep pace with innovation, regulatory compliances and changes in consumer demand. Our international team has built a sizeable & searchable database of import export transactions related to your industry. The data is released as soon as 24 hours after receipt. Make us your source for detailed information on the global trade flow of foods, beverages, ingredients, flavors, additives, dietary supplements and nutraceuticals. Feed your business models with the latest, authoritative, detailed import export data with Import Radar. Get radarized
Multiple energy companies are staying ahead of the market with import export intelligence reports on fuel import arrivals. They are released before any other source. The Energy Industry is being transformed as new discoveries, technologies, government policies and geopolitics work to reshape markets for fossil and renewable fuels alike.
In markets this volatile, intelligence is vital. Import Radar’s intelligence delivers the details of actual deliveries of imports before any other information source.
Retailers need import export intelligence like ours when supply flows are disrupted by natural disasters, man-made catastrophes or swings in the economy. Our multinational import export databases allow our customers to shift perspectives smoothly from buy-side to sell-side. They can identify opportunities to enter new markets, target new customers, secure new sources of supply, or outmaneuver their competitors.
The import export intelligence and analytics market is in the final stages of a multiyear shift from IT-led, system-of-record reporting to business-led, intuitive analytics. The modern import export intelligence and analytics platform has emerged to meet new organizational requirements for accessibility, agility and deeper analytical insight in the import export industry.
The shift to the modern import export intelligence and analytics platform has now reached a tipping point. Corporations must transition to an easy-to-use, fast and agile modern BI platforms to create business value from deeper insights and diverse import export data sources
The democratization of analytics
Import Radar clearly emphasizes analytics have become increasingly strategic to most businesses and their roles. If you think of it, every business is an analytics business. Every business process is an analytics process and every person is an analytics user.
It is no longer possible for CMOs, COOs or CFOs to be experts only in branding, order placement and financial statements, respectively. According to our expertise, they must also be operations and customer analytics experts. This is when import export intelligence becomes so vital in their daily activities. The same is true for the chief HR, supply chain and financial roles in most industries.
To meet the time-to-insight and time-to-market demanded by today’s competitive business environment, many organizations want to democratize analytics capabilities via self-service integrations and platforms, just like Import Radar’s intuitive and real-time dashboards.
Defining the modern import export intelligence and analytics platform
The most significant difference between a import export intelligence and a traditional, IT-centric reporting and analysis platform is the amount of upfront modeling required, the skills needed to build reliable analytics content. Creating analytics content via IT-centric reporting platforms starts with IT departments or outsourced experts, consolidating and modeling data in advance. By contrast, a modern import export intelligence platform supports IT-enabled development of analytics content.
To get the full benefit of modern import export intelligence and analytics platforms, business leaders must rethink most aspects of their current IT-centric analytics deployments. This includes technology, roles and responsibilities, organizational models, governance processes and above all, leadership.
Import Radar analysts provide additional analysis and information on the outlook for import export intelligence and analytics. Our How it Works section you can identify what type of import export intelligence your company might need.
Find Out More
To learn more about this fast-growing market, check out a recent report at our FREE Demo. We explain the competitive landscape and information on the wine market drivers and restraints. Detailed profiles of the key players in this market are also included.
Import Radar reports are also available through a Knowledge Center solution. To explore the product, visit our website.