Houston, TX, USA and Prague, Czech Republic, January 26th, 2022. Commodity Technology Advisory LLC (ComTech Advisory), the leading analyst firm covering energy and commodity trading and risk management (E/CTRM) and related technologies, has released the 2021 CTRM Market Sizing, Trends and Outlook report. It is now available for purchase at the CTRMCenter website. ComTech Advisory performs detailed analysis and issues the CTRM market sizing guidance biennially with an update in the interim years. It is the definitive market size and outlook available in the industry.
This most recent detailed analysis indicates that the total global market for CTRM software contracted in 2020, falling $100million to $1.65B from $1.75B in 2019, primarily due to the impact of the pandemic and its knock-on effects across all commodities and their value chains. However, the market for new CTRM products rebounded strongly in 2021, and total spending for CTRM software increased by almost $150million, reaching $1.80B.
According to Patrick Reames, Managing Partner of Commodity Technology Advisory, “The global CTRM market has been whipsawed the last three years as the pandemic, low commodity prices, regulatory pressures and geopolitical developments all conspired to increase volatility not only in commodity prices, but also corporate budgets for new software. Despite global markets continuing to be somewhat unsettled, we anticipate a return to a more predictable spending pattern for CTRM software for the next several years.”
“2021 saw things get back on track as CTRM software markets adjusted to the constraints of the COVID pandemic and lockdowns and were increasingly spurred on by a host of other business drivers that included decarbonization,” said Dr. Gary M. Vasey, Managing Partner. “Most notably, it saw the return of larger opportunities and CTRM software deals including what some vendors described as their biggest deals ever. 2022 looks set to continue that trend.”
The 2021 CTRM Market Sizing, Trends and Outlook report is now available for purchase from the CTRMCenter.com
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.