Expert Market Research’s new report titled ‘Global Trade Finance Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global market trade finance market, assessing the market based on its segments such as type, end use, service provider and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026):
• Forecast CAGR (2021-2026): 4.3%
Improved inventory management by various companies is driving the market. Moreover, the growth of the market is aided by greater digitization and the development of risk management solutions. Technological advancements and improved strategy formulation along with the adoption of structure and pricing methods provide a variety of opportunities for market growth. However, the growth of the trade finance industry is hampered by a lack of risk assessment capacity, regulatory uncertainty and operational inefficiencies.
Industry definition and major segments
Domestic and international trade finance is covered by trade finance. Insurance, loan issuance and lending are some of the activities covered.
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Depending on its type, the market can be classified as follows:
• Supply Chain Finance
• Structured Trade Finance
• Financing of traditional trade
Based on its end use, the market can be segmented into:
On the basis of its service provider, the market can be divided into:
• Trade Finance Houses
Based on Region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The industry is growing due to increased competition, new trade agreements and better inventory management by many companies. Additionally, advancements in technologies such as Optical Character Recognition (OCR) to read container numbers, Radio Frequency Identification (RFID) and Quick Response (QR) codes to identify and track shipments, blockchain and improved digitization of trade documents are all contributing to the growth of the trade finance market. However, the expansion of the trade finance market is hampered by a lack of attention to SMEs, weak risk assessment capacities, weak legal certainty and operational inefficiencies. Advancements in technology, the move away from traditional banking procedures for documentation to reduce paperwork, and improvements in the trade finance sector all present prospects for the market. The performance of any market depends on the adoption of technology, and the trade finance industry is no exception. According to the Asian Development Bank, the global trade finance gap is currently $1.5 trillion, or 10% of merchandise trade volume, and is expected to reach $2.4 trillion by 2025. However, if the Distributed Ledger Technology (DLT) is deployed more widely, this disparity could be reduced by $1 trillion. With technologies that incorporate Optical Character Recognition (OCR), Machine Learning (ML) and Artificial Intelligence, the process of validating documentation against set business standards can now be completed in minutes (AI ). To develop and implement DLT within the trade finance structure, major banks and trade technology companies have created consortia.
Main market players
Major players in the market are Citigroup Inc., Asian Development Bank, JPMorgan Chase & Co., BNP Paribas, Standard Chartered Bank, Euler Hermes [Allianz SE]HSBC Holdings PLC [HSBC Group], among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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