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Trends in the Trade Credit Insurance Market: Unveiling New Avenues for Research and Innovation | anticipated to reach $18.14 billion by 2027

02-27-2024 06:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Trade Credit Insurance Market

Trade Credit Insurance Market

As per the report published by Allied Market Research, the global trade credit insurance market generated $9.38 billion 2019, and is anticipated to reach $18.14 billion by 2027, growing at a CAGR of 8.6% from 2020 to 2027.

Surge in focus toward mitigating risk regarding non-payment across several types of goods & services and expansion of trade in various regions that demand credit insurance drive the growth of the global trade credit insurance market. However, risk of non-payment by foreign buyers hampers the market growth. On the contrary, benefits such as sales support & account receivable support are expected to create lucrative opportunities for the market players in the future.

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Covid-19 scenario:

The Covid-19 and following lockdown resulted in uncertainty and protectionism in the global trade. Moreover, several regions imposed lockdown, which hampered business finances.
Thus, trade credit insurance products have gained momentum during the pandemic as it protects businesses from unforeseen circumstances.
Therefore, trade credit insurance products are gaining momentum during the pandemic situation. This, in turn, has become one of the major growth factors for the trade credit insurance industry during the global health crisis.
The global trade credit insurance market is segmented on the basis of component, enterprise size, application, coverage, industry vertical, and region.

Based on component, the products segment held the lion's share in 2019, accounting for more than four-fifths of the total revenue. However, the services segment is estimated to manifest the highest CAGR of 10.6% during the forecast period.

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On the basis of enterprise size, the large enterprise segment dominated the market in 2019, contributing to around three-fourths of the market. However, the small enterprise segment is expected to register the highest CAGR of 12.3% during the forecast period.

The global trade credit insurance market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2019, accounting for nearly two-fifths of the market. However, the market across Asia-Pacific is estimated to register the fastest CAGR of 10.7% during the forecast period.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐀𝐕𝐄𝐍𝐔𝐄 - 𝐀 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧-𝐁𝐚𝐬𝐞𝐝 𝐋𝐢𝐛𝐫𝐚𝐫𝐲 (𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐎𝐧-𝐃𝐞𝐦𝐚𝐧𝐝, 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧-𝐁𝐚𝐬𝐞𝐝 𝐏𝐫𝐢𝐜𝐢𝐧𝐠 𝐌𝐨𝐝𝐞𝐥) @ bit.ly/3wztqhi

Avenue is a subscription-based repository containing an extensive database of global market reports, offering comprehensive insights into the world's largest emerging markets. With quick and easy e-access to a wide range of industry reports, Avenue provides registered members with a convenient single gateway to fulfill all their business needs. From detailed insights on various industries and economies to analysis of end user trends worldwide, Avenue ensures that its members have access to all-inclusive business intelligence.

Leading Market Players: -American International Group Inc., Aon plc, Atradius N.V., Coface, Credendo, EULER HERMES, Export Development Canada, QBE Insurance (Australia) Ltd., SINOSURE, and Zurich.

Customized Report: https://www.alliedmarketresearch.com/request-for-customization/8670

The global trade credit insurance market report includes an in-depth analysis of the major market players such as American International Group Inc., Aon plc, Atradius N.V., Coface, Credendo, EULER HERMES, Export Development Canada, QBE Insurance (Australia) Ltd., SINOSURE, and Zurich.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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