Increasing worldwide imports and export is the main factor that is expected to increase the trade finance market size during the forecast period.

BANGALORE, INDIA, October 26, 2021 /EINPresswire.com/ -- The global Trade Finance market size is projected to reach US$ 10987510 million by 2027, from US$ 7616520 million in 2020, at a CAGR of 5.4% during 2021-2027.

This report focuses on global trade finance market size, future forecasts, growth opportunities, key markets, and key players. The aims of the study are to present the growth of Trade Finance in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.

Digitization is expected to fuel the growth of trade finance market size. Trade finance procedures necessitate a large volume of physical paper documentation. As a result, document-related costs account for the bulk of Trade Finance costs. Banks' Trade Finance offerings must be adaptable, flexible, low-cost, and add value to their customers in order to succeed. Through digitization, banks are automating financial and transactional information exchange through pilot projects in smart contracts.

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Based on type, the Supply Chain Finance segment is expected to witness the highest growth.

As Covid-19 tightened corporate liquidity, the Supply Chain Finance (SCF) programs were on the rise. However, questions were raised about the disclosure regulations of such systems, as well as the actions of corporate buyers and SCF providers.

Based on Region, LAMEA and North America jointly accounted for higher revenues.

In terms of revenue, the LAMEA region dominated the trade finance sector in 2018 and is expected to retain its dominance during the forecast period, due to higher oil production and large-scale exports, and agency finance services. Moreover, the U.S. export and agency funding strengthens export opportunities by engaging in large-scale project planning activities and developing sustainable infrastructure that contributes to regional economic development.

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In 2019, APAC had the largest trade finance market share, and the region is expected to offer market vendors several growth opportunities over the forecast period. Growing government funding to improve trade finance for increased exports would have a major effect on the growth of the trade finance market share in this region. China is among APAC's main trade finance markets. In this region, demand growth would be higher than business growth in other regions. Saudi Arabia's trade finance accounts for about 24% of merchandise trade flow

Europe is projected to rise at the fastest pace in the forecast period due to the involvement of export credit agencies (ECA) conducting foreign trade, strengthening government policy, and facilitating trade across the globe.

The trade finance report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type, and by Application segment in terms of revenue for the period 2015-2026.

The major vendors include BNP Paribas, Bank of China, Citigroup Inc, China Exim Bank, ICBC, JPMorgan Chase & Co, Mizuho Financial Group,Standard Chartered, MUFG, Sumitomo Mitsui Banking Corporation, Credit Agricole, Commerzbank, HSBC, Riyad Bank, Saudi British Bank, ANZ, EBRD, Japan Exim Bank, Banque Saudi Fransi, Afreximbank, AlAhli Bank, Export-Import Bank of India; the Value of top ten manufacturers accounts about 14% of the total Value in 2019.

Trade Finance Market Segment by Type

o Letters of Credit
o Guarantees
o Supply Chain Finance
o Factoring
o Documentary Collection
o Other.

Trade Finance Market Segment by Application

o Finance
o Energy
o Power Generation
o Transport
o Renewables
o Metals & Non-Metallic Minerals
o Other.

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