According to the latest report by IMARC Group, titled “Trade Finance Market Share: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Trade finance, or export finance, refers to different financial products used by organizations to manage international commerce and trade. It is mainly utilized by banks, export credit agencies, exporters and importers, trade finance companies, etc. Trade finance streamlines cash flow and enables protection against the risks of international trade, including instances of non-payment, political instability, currency fluctuations, etc.
The increasing number of international trade activities represents one of the primary factors driving the trade finance market. Moreover, the growing integration of several advanced technologies, such as artificial intelligence (AI), blockchain, the Internet of Things (IoT), etc., with trade finance solutions is further propelling the global market growth. These technologies allow organizations to use natural language processing (NLP), chatbots, predictive analysis, etc., to recognize market patterns, resolve concerns, and take appropriate measures. Additionally, there is an escalating utilization of electronic systems, such as optical character recognition (OCR) and quick response (QR) codes, which enhance the digitalization of trade financing operations and simplify the manual process of document identification. Besides this, rising investments in the banking, financial services, and insurance (BFSI) sector are projected to provide further impetus to the trade finance market over the forecasted period.
Trade Finance Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the trade finance market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the trade finance market on the basis of finance type, Offering, service provider, end-user and region.
Breakup by Finance Type:
Breakup by Offering:
Breakup by Service Provider:
Breakup by End-User:
Breakup by Region:
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Key highlights of the report:
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