The trade finance market size is expected to see strong growth in the next few years. It will grow to $62.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to adoption of structuring and pricing tools, emerging market growth, sustainable trade and ESG (environmental, social and governance) considerations, geopolitical developments and trade policies, supply chain resilience and risk management. Major trends in the forecast period include blockchain integration, digital transformation, artificial intelligence (AI) and machine learning (ML), technology advancements, cross-border payment innovations.
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Scope Of Trade Finance Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Trade Finance Market Overview
Market Drivers –
The rise in the need for safety and security in financial activities is expected to propel the growth of the trade finance market going forward. The security of financial activity refers to the measures and protocols put in place to safeguard financial transactions from unauthorized access, fraud, and theft. The need for safety and security in trading activities is on the rise due to increasing financial interconnectedness, necessitating measures to protect traders and transactions from evolving threats and risks. Trade finance facilitates secure payment mechanisms that ensure the timely and reliable settlement of trade transactions. It also provides access to trade credit and financing options that enable businesses to manage cash flow, mitigate liquidity risks, and expand their trading activities. For instance, in February 2024, according to the data released by the Federal Trade Commission, a US-based independent government agency, it was reported that consumers lost more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark. This represents a 14% increase over reported losses in 2022. Nearly 1 in 5 people reported a financial loss due to an imposter scam. Therefore, the rise in the need for safety and security in financial activities is driving the growth of the trade finance market.
Market Trends –
Major companies operating in the traffic jam assist market are developing innovative technologies, such as Staria Hybrid, to enhance the driving experience in heavy traffic conditions. Staria Hybrid is a smart traffic jam assist that utilizes features such as adaptive cruise control and lane departure warning to provide a safer and more convenient driving experience, making driving better, particularly in traffic situations. For example, in February 2024, Hyundai Motor Company, a South Korea-based automotive manufacturer, launched the Staria Hybrid with a new feature called ‘Traffic Jam Assist.’ This technology enhances driving safety and convenience, especially in congested traffic conditions, by automatically adjusting speed, maintaining a safe distance from the vehicle ahead, and keeping the vehicle in its lane.
The trade finance market covered in this report is segmented –
1) By Type: Supply Chain Finance, Structured Trade Finance, Traditional Trade Finance
2) By Service Provider: Banks, Financial Institutions, Trading Houses, Other Services
3) By Application: Domestic, International
4) By Industry: Banking, financial services, and Insurance (BFSI), Construction, Wholesale Or Retail, Manufacturing, Automobile, Shipping and Logistics, Other Industries
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Regional Insights –
North America was the largest region in the trade finance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the trade finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the trade finance market are JPMorgan Chase & Co., China Construction Bank, Bank of America Corporation, Citigroup Inc., BNP Paribas S.A., HSBC Holdings plc, Mitsubishi UFJ Financial Inc., Credit Agricole Group , Union Bank of Switzerland, Deutsche Bank AG, Unicredit SpA, Societe Generale SA, Standard Chartered plc, Asian Development Bank, Internationale Nederlanden Groep, Development Bank of Singapore Limited, Nordea Group Abp, Euler Hermes Group, The Royal Bank of Scotland Group plc, The Bank of Nova Scotia, TD Bank, Coöperatieve Rabobank U.A., Commerzbank AG, Rand Merchant Bank, Arab Bank
Table of Contents
1. Executive Summary
2. Trade Finance Market Report Structure
3. Trade Finance Market Trends And Strategies
4. Trade Finance Market – Macro Economic Scenario
5. Trade Finance Market Size And Growth
…..
27. Trade Finance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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