Press release
Trade Finance Market Share Will Hit US$ 70.0 Billion By 2028 | Growth With Recent Trends & Demand
According to IMARC Group's new report, titled "Trade Finance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' The study provides a detailed analysis of the industry, including the global trade finance market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.How big is the Trade Finance Market?
The global trade finance market size reached US$ 48.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 70.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Here is an Exclusive Request Sample Report talking about Market scenarios with a historical and forecast period:: https://www.imarcgroup.com/trade-finance-market/requestsample
What is Trade Finance?
Trade finance refers to financial support provided to businesses to facilitate their involvement in international trade and commerce. This support includes a range of financial tools and instruments that enable these businesses to access the necessary funds for various purposes, such as making investments, covering payroll expenses, and paying suppliers. Unlike traditional forms of financing, trade finance typically involves the participation of a third party, such as banks, insurance companies, exporters, importers, trade finance firms, and credit agencies. These entities help manage transactions between the buyer and seller, ensuring a smooth and secure international trade process. Additionally, trade finance plays a crucial role in overseeing the movement of goods, monitoring the entire trade cycle, offering protection for receivables, and mitigating the risks associated with international trade transactions.
What are the growth prospects and trends in the trade finance industry?
The growth in global trade, driven by rapid urbanization and industrialization, especially in emerging economies, is fueling the demand for secure financial tools like trade finance. This is the primary factor propelling market expansion. Furthermore, the digitization of trade finance operations allows businesses to automate significant amounts of financial and transactional data, serving as an additional growth catalyst. Additionally, the increasing adoption of advanced technologies like optical character recognition (OCR), radio frequency identification (RFID), and quick response (QR) codes to identify and track shipments and enhance the digital conversion of trade documents is also contributing to market growth.
In addition to these factors, the increasing integration of trade finance with blockchain, artificial intelligence (AI), machine learning (ML), and the internet of things (IoT) technologies enables organizations to identify market trends, predict future issues, address concerns, anticipate demand, and take appropriate actions. This, in turn, speeds up transaction processing, creating a positive outlook for the market. Other factors driving market growth include growing investments in the banking, financial services, and insurance (BFSI) sector, the implementation of favorable government policies, and enhancements in supply chain capabilities.
Speak to An Analyst or Get Detailed Information About the Report: https://www.imarcgroup.com/request?type=report&id=2031&flag=E
Who are the key players operating in the industry?
The report covers the major market players including:
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.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Finance Type:
Structured Trade Finance
Supply Chain Finance
Traditional Trade Finance
Breakup by Offering:
Letters of Credit
Bill of Lading
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
Europe
Asia Pacific
Latin America
Middle East and Africa
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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