2019 CTRM Technology Markets forecast at $1.7B, will grow 3.2% per annum through 2023, according to market analyst firm Commodity Technology Advisory

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• USA - English

HOUSTON and BRNO, Czech republic, Dec. 4, 2019 /PRNewswire-PRWeb/ -- Commodity Technology Advisory LLC (ComTech), the leading market analyst firm focusing on the global commodity trading and risk management (CTRM) market, today released their 2019 CTRM Market Outlook Report which indicates the market for CTRM Technologies will end the year at $1.74B, growing to $2.04B by the end of year 2023.

The report highlights several key trends that will continue to impact the global market for CTRM technologies, including:

• Rapid movement by buyers to SaaS agreements and impact on future market revenues,
• The impact of recent consolidation of vendors of CTRM technologies,
• Continuing liberalization of key markets, including European power,
• Increasing replacement of older monolithic CTRM software solutions in mature markets,
• The need for user companies to reduce costs and provide users greater technical agility in rapidly changing commodity markets,
• Shift of CTRM market activity toward the Asia-Pacific region, including Japan, China and other rapidly developing economies in the region,
• Impact of global ERP firm SAP increasing their efforts to sell CTRM capabilities into commodity markets, including agricultural and oil/oil products markets,
• Increased and relatively unpredictable geopolitical tensions driving periods of increased commodity price volatility,
• The influence of emerging technologies.

"For buyers of CTRM technologies, the marketplace for solutions is, much like the commodity markets themselves, more challenging than ever. With recent vendor consolidation, new market entrants and the need to leverage technology to address a rapidly changing commodity market", said Patrick Reames, Co-Managing Partner of ComTech. "For the more than 100 vendors that we track in the CTRM space, we anticipate the markets will become more competitive and demands for new technology solutions will require significant investment in products and capabilities in order to remain competitive."

Gary M. Vasey, Co-Managing Partner noted, "We also now see the emergence of a replacement market in mature areas like North America and Europe where older monolithic client/server solutions are reaching end of life and users are seeking more modern technologies and architectures, particularly in the cloud."

This new report, available for purchase at the CTRMCenter (https://www.ctrmcenter.com/publications/reports/2019-ctrm-market-sizing-outlook-and-trends-through-2023/), provides a 5-year outlook (inclusive of 2019) for the CTRM markets across multiple dimensions, including commodities, industrial segments and geographic regions.

About Commodity Technology Advisory
Commodity Technology Advisory (ComTech Advisory) is the leading analyst organization covering the Energy and Commodity Trading and Risk Management (E/CTRM) technology markets. Led by Patrick Reames and Dr. Gary M. Vasey, ComTech Advisory provides invaluable insights, backed by primary research and decades of experience, into the issues and trends affecting both the users and providers of the applications and services that are crucial for success in markets constantly roiled by globalization, regulation and innovation. For more information, visit http://www.comtechadvisory.com

SOURCE Commodity Technology Advisory