United States, Rockville MD – Fact.MR – A Market Research and Competitive Intelligence Provider: The global Trade Finance market size is estimated to reach US$ 68.62 Bn in 2032, witnessing a CAGR of 4.5% between 2022 and 2032. With emphasis on integrating blockchain technology in trade finance, the market is expected to grow unabated in the forecast period.

As per Fact.MR, the global Trade Finance industry ought to be worth US$ 46.18 Bn in 2022. By end-user, importers & exporters are expected to be the major contributor to revenue. Trade Finance helps in keeping fraud behavioral patterns in check. This keeps the flag high for trade finance market.

The Asia-Pacific rules the trade finance market due to increasing awareness about trade finance in the emerging economies. North America and Europe are already at the matured stage of trade finance industry. Collectively, the top three countries leading the global trade finance market at present account for 42% market share.

Key Takeaways:

  • The Asia-Pacific is expected to hold more than 50% of the market share in the years to come due to propagation of SMEs herein.
  • By trade activity, export credit is expected to go great guns in the next 10 years.
  • Growing Preference for Trade Finance to Enhance Working Capital Efficiency in Businesses.
  • Digitalization and utilization of new technologies such as Blockchain will improve efficiency and reduce the cost of players in the trade credit market.

Growth Drivers:

  • Better exposure to the developing economies is expected to drive the trade finance market in the near future.

Increased demand for trade finance significantly impacts financial firms to invest in trade finance approaches that are less likely to spread, can collect and monitor multiple structured and unstructured data sets at the same time, and provide financial stability to importers and exporters in the form of payment risk and supply risk.

Technology is important in many businesses, including banking, financial services, and insurance (BFSI). Technological breakthroughs, automation, and a degree of standardization have all been developed in trade financing in recent years. Increasing advancements in data collection technology are driving the demand for AI and automation in banking.

Competitive Landscape:

The key participants in trade finance industry are proactively engaging in new product launches as well as joint ventures to make a mark in the trade finance industry.

For instance –

Citigroup Inc. does allow access to the advanced and specialized products as well as availability of finance while looking through financial statement’s efficiency targets due to advancement in the technology.

Key Companies Profiled by Fact.MR

  • Asian Development Bank
  • Bank of America Corporation
  • BNP Paribas S.A.
  • Citigroup Inc.
  • Euler Hermes Group
  • HSBC Holdings PLC
  • JP Morgan Chase & Co
  • Mitsubishi UFJ Financial Inc.
  • The Royal Bank of Scotland Group plc
  • Standard Chartered Plc

More Valuable Insights on Trade Finance Market

Fact.MR in its latest study offers a comprehensive analysis on the global Trade Finance industry. It also provides key information such as latest trends, drivers, and challenges that are expected to influence sales of Trade Finance during the forecast period of 2022 to 2032. It also uncovers critical forecast data for the Trade Finance industry through detailed segmentation as follows:

By Trade Activity:

  • Factoring
  • Export Credit
  • Insurance
  • Other Activities

By Transaction

  • Domestic only
  • International Only

By End-user:

  • Importers & Exporters
  • Banks & Financers
  • Insurers & Export Credit Agencies
  • Other Service Providers

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

Key Questions Covered in the Trade Finance Market Report

  • Who are the leading players in the Trade Finance industry ?
  • Which region is anticipated to dominate the global Trade Finance industry during 2022-2032?
  • What is the expected value of Trade Finance industry in 2022?
  • Which are the challenges faced in the Trade Finance industry?
  • What will be the market size of global Trade Finance industry during the forecast period (2022-2032)?
  • At what rate will the global Trade Finance industry grow until 2032?

Source: FACT.MR