Financial Guarantee Market to Reach $71.93 Bn, Globally, by 2030 at 9.6% CAGR: Allied Market Research
Rise in the financial risk involved in business transactions, quick processing of documents by banks, and rise in adoption of financial guarantees by SMEs drive the growth of the global financial guarantee market.
PORTLAND, Ore., Dec. 14, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Financial Guarantee Market By Product Type (Bank Guarantees, Documentary Letter of Credit, Standby Letter of Credit (SBLC), Receivables Financing, and Others), Enterprise Size (Small Enterprises, Medium-sized Enterprises, and Large Enterprises), and End User (Exporters and Importers): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global financial guarantee industry was accounted for $28.70 billion in 2020, and is expected to reach $71.93 billion by 2030, growing at a CAGR of 9.6% from 2021 to 2030.
Download Sample Report (Get Full Insights in PDF - 280 Pages) @ https://www.alliedmarketresearch.com/request-sample/14884
Drivers, Restraints, and Opportunities
Rise in the financial risk involved in business transactions, quick processing of documents by banks, and rise in adoption of financial guarantees by SMEs drive the growth of the global financial guarantee market. However, strict assessment by the banks before offering a financial guarantee and collateral demands hinder the market growth. On the contrary, increase in import and export activities in developing countries and surge in digitalization of banking procedures are expected to open new opportunities for the market players in the future.
Covid-19 Scenario:
· The rise in uncertainty and protectionism in global trade, shift in supply chain demands, and business closures have negatively affected the financial guarantee market.
· To curb the spread of the virus, several countries imposed strict restrictions and lockdown across the countries, which created geopolitical tensions and shift in trade patterns.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/14884
The Documentary Letter of Credit Segment Held the Largest Share
By product type, the documentary letter of credit segment held the largest share in 2020, accounting for nearly three-fifths of the global financial guarantee market, due to differing laws of countries and the difficulty of knowing each party personally. However, the receivables financing segment is expected to register the highest CAGR of 15.0% during the forecast period, as it allows to accept large, bulk one-time orders and allow traders to earn greater profits.
The Large Enterprises Segment Dominated the Market
By enterprise size, the large enterprises segment held the lion's share in 2020, contributing to nearly three-fifths of the global financial guarantee market, owing to rise in preference of a financial guarantee among major organizations to make immediate payments across countries. However, the small-sized enterprises segment is estimated to manifest the highest CAGR of 13.7% from 2021 to 2030. Due to lack of credit worthiness and limited access to huge funds, small banks cannot take loans from banks but a financial guarantee allows them to acquire products and pay later.
Asia-Pacific, followed by Europe and North America, held the Largest Share
By region, the global financial guarantee market of Asia-Pacific, followed by Europe and North America, dominated in 2020, holding nearly two-fifths of the market, due to rise in demand for digitalized financial guarantee using new technologies such as machine learning automation, optical character recognition, and distributed ledger. Moreover, the market across North America is projected to portray the CAGR of 5.5% during the forecast period.
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/14884?reqfor=covid
Major Market Players
- Asian Development Bank
- BNP Paribas
- Barclays
- Bank of Montreal
- Citibank
- HSBC
- ICBC
- National Bank of Canada
- SINOSURE
- Scotia Bank
Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Similar Reports:
Personal Finance Software Market
Canada Financial Guarantee Market
U.S. Personal Finance Software Market
Pre-Book Now with 10% Discount:
Microfinance Market – Global Opportunities and Forecasts, 2021-2030
Financial Advisory Services Market – Global Opportunities and Forecasts, 2021-2030
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" 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.
Contact us:
Correa
5933 NE Win Sivers Drive
#205, Portland David, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
SOURCE Allied Market Research
Share this article