NEW YORK, Oct. 6, 2023 /PRNewswire/ -- The trade finance market is expected to grow by USD 14.70 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.01% during the forecast period. A growing number of exports is notably driving the trade finance market. However, factors such as the impact of protectionist policies and trade wars may impede the market growth. The market is segmented by Type (Traditional trade finance, Supply chain finance, and Structured trade finance), End-user (Importers and exporters, Banks and financiers, and Insurers and export credit agencies), and Geography (North America, Europe, APAC, Middle East and Africa, and South America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
- The traditional trade finance segment is estimated to witness significant growth during the forecast period. Traditional trade finance provides a variety of trade payment and risk management tools through products such as trade letters of credit, documentary collections, open account processing, order management, and benchmarking. suffer from vouchers. One of the major players in the market offering such a solution is JPMorgan Chase & Co. (JPMorgan). As a result, market participants such as JP Morgan & Chase offer traditional trade finance solutions through web-based trade management platforms, allowing clients to manage their trading activities, from order to payment. In addition, the main advantage of this solution is that it allows sellers and buyers to connect with market participants and provide them anytime, anywhere access, creating visibility, accelerating the settlement cycle, and reducing costs while optimizing the merchant payment process. Hence, these factors are expected to segment growth during the forecast period.
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Geographical Market Analysis
- APAC is estimated to contribute 34% to the growth of the global market during the forecast period. North America is another region that offers significant growth opportunities for suppliers. The presence of major global exporters including the US and Canada is one of the key factors contributing significantly to the growth of the trade finance market in the region. In addition, the US is a leading exporter of capital goods, including commercial aircraft, machinery, and semiconductors, to Africa and Asia. As a result, several market participants in the region are forming strategic partnerships and alliances to increase market reach, expand customer base, and support trade in markets. Hence, these factors are expected to drive market growth in the region during the forecast period.
Company Insights
The trade finance market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Australia and New Zealand Banking Group Ltd., Banco Santander SA, Bank of America Corp., Barclays PLC, BNP Paribas SA, Citigroup Inc., Credit Agricole SA, Deutsche Bank AG, The Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase and Co., Morgan Stanley, NatWest Group plc, Societe Generale SA, Standard Chartered PLC, BNY Mellon Securities Corp., UBS Group AG, UniCredit SpA, Wells Fargo and Co., and Mitsubishi UFJ Financial Group Inc.
View the FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by End-User
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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