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Trade Finance Software Market Next Big Thing | Comarch SA, Finastra, IBSFINtech

09-22-2022 07:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

According to our latest market study on "Trade Finance Software Market to 2027 - COVID-19 Impact, and Global Analysis and Forecast - by Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End-Use (Banks, Traders, and Others)and Geography," the market was valued at US$ 1,573.8 million in 2021 and is projected to reach US$ 2920.4 million by 2027; it is expected to grow at a CAGR of 10.3% from 2020 to 2027.

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis -

The increasing focus of enterprises toward digitization and rising adoption of cloud-based solution deployment are some of the key driving factors for global trade finance software market. However, high security concerns and cost of integration with other existing platforms may hinder the growth of the market in some applications. Despite some limitations, the increasing awareness and demand in emerging economies and integration of advanced technologies with trade finance software are the major factors that are anticipated to drive the future growth of trade finance software market.

Trade Finance Software Market - Company Profiles
BT Systems, LLC.
China Systems
Comarch SA
MITech - Make Intuitive Tech SA
Newgen Software Technologies Ltd.
Persistent Systems

Trade finance software Market Insights
Rising Adoption of Cloud-Based Solution Deployment

Technological innovations are bound to perform a vital role in accelerating the recovery process with the restructuring of front-end to back-end processes, facilitating trade finance institutions to cater low cost, customized, value-added software and solutions that meet the needs of geographically varied customer segments. The development of cloud computing has enabled banks to develop strong trade finance architecture in order to maximize profitability. Within trade finance and other business transaction banking services, the financial institutes are seeking to gain the benefits from lower-cost private cloud solutions. These cloud solutions provide dedicated tools with strong security controls while freeing both customers and banks from expensive IT investments. Cloud computing provides an approach to strengthen capacity or add competencies on the existing platform without investing in new infrastructure, licensing new software, or training new personnel.

Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well -

The report segments the global Trade Finance Software market as follows:
By Component

By Deployment
By Enterprise Size
Large Enterprises

By End-User

In 2019, Europe stoodsecond in the trade finance software market with a decent market share and it is anticipated to witness a steady CAGR from 2020 to 2027.Over the past five years, capital invested in European technology has grown by 124%, rising by 39% between 2018 and 2019, to reach US$ 34.3 billion of capital investment in 2019. This compares to the cutbacks between 2018 and 2019 in capital investment in both the US and Asia. Europe's software development services are increasingly in demand. An increase in adoption of IT and telecommunication and digital transformation and automation are the key drivers of this growth. Moreover, European countries house a number of industries offering critical and important products. The medical sector in the region is advancing at a rapid rate. Likewise, numerous automakers have their establishments across countries, which are supported by innumerable component manufacturers. Other industries such as aerospace & defense, agriculture, consumer electronics, e-commerce, transportation & logistics are showcasing significant import-export activities with respect to their respective products, which, in turn has boosted trade finance market in the region. Further, in order to manage trade finance operations more efficiently various banks and traders are adopting trade finance solutions and services, thereby providing visibility to their clients.

Companies adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. The trade finance software market players mainly focus on the acquisition strategy to expand their business and maintain their brand name globally. For instance, in 2020, ClickSWITCH, declared a combined partnership with Newgen Software Technologies to deliver mutual customers with a seamless integrated experience.

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Sameer Joshi
Phone: +1-646-491-9876

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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