Increasing frequency of exports and imports to boost trade

USA, Rockville MD, July 12, 2022 (GLOBE NEWSWIRE) — Fact.MR – A market research and competitive intelligence provider: The global trade finance market size is expected to reach US$68.62 billion in 2032 growing at a CAGR of 4.5% between 2022 and 2032. With a focus on the integration of blockchain technology in finance of trading, the market is expected to grow unabated during the forecast period.

According to Fact.MR, the global trade finance market is expected to be worth US$46.18 billion in 2022. By end user, importers and exporters are expected to be the top revenue contributors. Trade Finance helps control fraudulent behavior. This keeps the flag high for the trade finance market.

Asia-Pacific dominates the trade finance market owing to the growing awareness of trade finance in emerging economies. North America and Europe are already in the mature stage of the trade finance market. Collectively, the top three countries that dominate the global trade finance market currently account for 42% market share.

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Key points to remember:

  • Asia-Pacific is expected to hold more than 50% market share in the coming years due to the spread of SMEs here.
  • By business activity, export credit is expected to explode over the next 10 years.
  • Growing preference for trade finance to improve working capital efficiency in businesses.
  • Digitization and the use of new technologies such as Blockchain will improve efficiency and reduce the cost of trade credit market participants.

Growth drivers:

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

The increased demand for trade finance is a significant incentive for financial firms to invest in trade finance approaches that are less likely to spread, can collect and monitor multiple sets of structured and unstructured data 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 finance in recent years. Growing advancements in data collection technology are driving the demand for AI and automation in banking.

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Competitive Landscape:

Major players in the trade finance market are proactively engaging in new product launches as well as joint ventures to gain a foothold in the trade finance market.

For instance –

Citigroup Inc. enables access to advanced and specialized products as well as availability of financing while addressing financial statement efficiency objectives due to the advancement of technology.

Top Companies Featured by Fact.MR

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

More valuable information about Trade finance Market

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

By Commercial activity:

  • Factoring
  • Export credit
  • Insurance
  • Other activities

By Transaction

  • domestic only
  • International only

By Final user:

  • Importers and exporters
  • Banks & Financiers
  • Export credit insurers and agencies
  • Other Service Providers

By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Oceania
  • AEM

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Key questions addressed in the Trade finance Market report

  • Who are the major players in the trade finance market?
  • Which region is expected to dominate the global trade finance market in 2022-2032?
  • What is the expected value of the trade finance market in 2022?
  • What are the challenges faced in the trade finance market?
  • What will be the market size of the global trade finance market during the forecast period (2022-2032)?
  • How fast will the global trade finance market grow to 2032?

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Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced consumer goods team help clients around the world meet their unique business intelligence needs. With a repository of over a thousand reports and over a million data points, the team has analyzed the consumer goods industry in over 50 countries for over a decade. The team provides unparalleled end-to-end research and advisory services.

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