The new report by Expert Market Research titled, ‘Global Trade Finance Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global trade finance market, assessing the market based on its segments like type, end-use, service provider, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
• Forecast CAGR (2021-2026): 4.3%
Improved inventory management by various firms is driving the market. Furthermore, market growth is aided by greater digitisation and the development of risk management solutions. Technological advancements and improved strategic formulation, as well as the adoption of structure and pricing methods, provide a variety of market growth chances. However, the trade finance industry’s growth is hampered by a lack of risk assessment capability, regulatory uncertainty, and operational inefficiencies.
Industry Definition and Major Segments
Domestic and international trade funding are covered by trade financing. Insurance, loan issuing, and lending are among the activities covered.
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Based on its type, the market can be categorised as:
• Supply chain finance
• Structured trade finance
• Traditional trade finance
Based on its end-use, the market can be segmented into:
• Exporters
• Importers
• Traders
• Others
On the basis of its service provider, the market can be divided into:
• Banks
• Trade finance houses
• Others
Based on region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The industry is growing due to increased competition, new trade agreements, and better inventory management by numerous companies. Furthermore, the advancement of 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 improving the digitization of trade documents all contribute to the growth of the trade finance market. However, the trade financing market’s expansion is hampered by a lack of focus on SMEs, poor risk valuation capabilities, low legal certainty, and operational inefficiencies. Technology advancements, a shift away from traditional banking procedures for documentation to reduce paperwork, and improvements in the trade finance industry all present prospects for the market. Any market’s performance depends on technology adoption, and the trade finance sector is no exception. According to the Asian Development Bank, the global trade finance deficit is currently $1.5 trillion, or 10% of merchandise trade volume, and is expected to expand to $2.4 trillion by 2025. However, if distributed ledger technology (DLT) is deployed more widely, this disparity might be reduced by $1 trillion. Using technologies that integrate optical character recognition (OCR), machine learning (ML), and artificial intelligence, the process of validating documentation against set trade norms can now be completed in minutes (AI). To develop and implement DLT within the trade finance structure, major banks and trade tech companies have created consortiums.
Key Market Players
The 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 the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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