The global trade finance market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 3.7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Trade finance, or export finance, refers to various financial products that are used by organizations to manage international trade and commerce. It is commonly used by banks, trade finance companies, export credit agencies, importers and exporters. Unlike general finance, trade finance introduces a third party to the transactions and is primarily used to streamline cash flow and provide protection against the risks of international trade, such as currency fluctuations, political instability and instances of non-payment.
The global market for trade finance is primarily being driven by rapid urbanization and the steadily growing global trade. Furthermore, the integration of advanced technologies, such as blockchain, artificial intelligence (AI), machine learning (ML) and the Internet of Things (IoT) with trade finance, is also providing a boost to the market growth. These technologies enable the organizations to use chatbots, natural language processing (NLP) and predictive analysis to recognize market patterns, resolve concerns, anticipate demand and take appropriate measures. Additionally, the increasing utilization of electronic systems, such as optical character recognition (OCR), quick response (QR) codes and radio frequency identification (RFID) readers, to enhance the digitization of trade financing operations, is acting as another growth-inducing factor. In comparison to the traditionally used methods, these devices also aid in streamlining the manual process of document identification and simplifying trade transactions. Other factors, including the introduction of clearinghouses that analyze the financial capabilities of buyers and sellers, along with the implementation of favorable government policies and growing investments in the banking, financial services and insurance (BFSI) sector, are projected to drive the market in the coming years.
IMARC Group’s latest report provides a deep insight into the global trade finance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the trade finance market in any manner.
Breakup by Finance Type:
Breakup by Offering:
Breakup by Service Provider:
Breakup by End-User:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Asian Development Bank, Banco Santander SA, Bank of America Corp., BNP Paribas SA, Citigroup Inc., Crédit Agricole Group, Euler Hermes, Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Mitsubishi Ufj Financial Group Inc., Morgan Stanley, Royal Bank of Scotland, Standard Chartered Bank, Wells Fargo & Co., etc
|Base Year of the Analysis||2020|
|Segment Coverage||Finance Type, Offering, Service Provider, End-User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Asian Development Bank, Banco Santander SA, Bank of America Corp., BNP Paribas SA, Citigroup Inc., Crédit Agricole Group, Euler Hermes, Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Mitsubishi Ufj Financial Group Inc., Morgan Stanley, Royal Bank of Scotland, Standard Chartered Bank and Wells Fargo & Co.|
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