Trade Finance Market is Projected to witness Strong Growth during the Forecast Period

According to IMARC Group, the global trade finance market is currently witnessing strong growth, the market also known as export finance, is a financial instrument and product that is used by companies to facilitate international trade and commerce. It makes business transactions easier for importers, exporters, banks, trade finance companies, and export credit agencies. The function of trade finance is to introduce a third party to the transaction to streamline cash flow and mitigate or reduce the risks involved in international trade transactions, like currency fluctuation, political instability, and instances of non-payment.

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Rapid urbanization and the steady growth of global trade represent the major factors driving the market. Apart from this, the integration of advanced technologies with trade finance, such as blockchain, artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), have enabled various companies to enhance the operations. Furthermore, technologies such as optical character recognition (OCR), quick response (QR) codes, and radio frequency identification (RFID) readers are enhancing the digitization of trade documents. Other growth-inducing factors, including the implementation of favorable government policies and growing investments in the banking, financial services and insurance (BFSI) sector, are expected to create a positive outlook for the market in the coming years.

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Report Coverage

Breakup by Finance Type:

Structured Trade Finance
Supply Chain Finance
Traditional Trade Finance
Breakup by Offering:

Letters of Credit
Bill of Lending
Export Factoring
Insurance
Others
Breakup by Service Provider:

Banks
Trade Finance Houses
Breakup by End-User:

Small and Medium Sized Enterprises (SMEs)
Large Enterprises
Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Asian Development Bank, Banco Santander SA, Bank of America Corp., BNP Paribas SA, Citigroup Inc., Crédit Agricole Group, Euler Hermes, Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Mitsubishi Ufj Financial Group Inc., Morgan Stanley, Royal Bank of Scotland, Standard Chartered Bank, Wells Fargo & Co., etc

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