Global Trade Finance Market to Grow by USD 10.64 Billion during 2019-2023 | Technavio

LONDON–(BUSINESS WIRE)–#ConsumerDiscretionary–Technavio’s latest market research report on the global trade finance
market predicts the market to witness a CAGR of over 4% during the
forecast period. This research report segments the market by trade
finance instruments (traditional trade finance, supply chain finance,
and structured trade finance) and geography (APAC, Europe, MEA, North
America, and South America).

Increasing incorporation of technology with trade finance

Technology is increasingly being integrated in critical businesses
across industries including banking, financial services, and insurance
sector. Modern technical concepts including blockchain, artificial
intelligence, machine learning, and IoT are often deployed to solve
banking problems and find application in trade financing. AI and machine
learning use predictive analytics to provide enterprises with
opportunities and solutions for specific problems in the trade financing
market. Moreover, the deployment of blockchain technology with trade
finance enables enterprises to increase efficiency and reduce the
complexity of end-to-end invoice finance transactions. Thus, with the
rising deployment of innovative technologies, conventional trade finance
solutions are set to improve significantly in terms of efficiency.
Therefore, the global
trade finance market
is anticipated to witness a surge in growth
over the next few years.

Traditional trade finance segment garnered the highest share in 2018

Traditional trade finance provides a spectrum of risk management tools
and trade payment through products, including commercial letters of
credit, documentary collections, open account processing, document
preparation, and purchase order management. Vendors are offering
traditional trade finance solutions through web-based trade transaction
management platforms to help the clients manage their trade activities
right from purchase order to payments. In addition, these solutions
connect the sellers and buyers with the vendor network to offer access
and create visibility. Therefore, the traditional trade finance solution
not only accelerates the payment cycle, but also reduces costs while
streamlining the overall process.

“Rising benefits of trade finance services coupled with the growing
incorporation of technology are fueling the trade finance market growth.
This has encouraged vendors to launch technologically advanced trade
finance solutions to help streamline the manual process of document
identification and simplify trade transactions,” says a senior research
analyst at Technavio

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Trade finance market to witness fastest adoption in the APAC region

With the growing number of enterprises shifting their focus toward the
emerging economies including India and China, the demand for trade
finance market will witness considerable growth in the APAC region over
the next few years. Growing support from governments towards
strengthening trade finance to facilitate exports will contribute to the
market growth in this region. Furthermore, growing digitization and
rapidly evolving technology is encouraging vendors to incorporate
blockchain technology to offer highly efficient invoice finance

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Some of the key topics covered in the global
trade finance market analysis

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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Technavio Research
Jesse Maida
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