ecently, a report has been issued by the Allied Market Research, named, “Trade Finance Market by Product Type (Commercial Letters of Credit (LCs), Standby Letters of Credit (LCs), Guarantees, and Others), Provider (Banks, Trade Finance Houses, and Others), Application (Domestic and International), and End User (Traders, Importers, and Exporters): Global Opportunity Analysis and Industry Forecast, 2021–2030.”
As per the report, the global trade finance industry created $44.09 billion in 2020 and is expected to go up to $90.21 billion by 2030, experiencing a CAGR of 7.4% from 2021 to 2030.
Leaders, Limitations, and Openings
Accelerated requirement for safety & security of trade transactions, flood in the acquisition by small & medium enterprises (SMEs) in developing nations, and new trade agreements can initiate the growth of the global trade finance market. However, the extending trade wars and higher expenses of incorporation obstruct the market development rate. While, on the other hand, the application of blockchain technology in trade finance generates new possibilities in upcoming years.
Read more: https://www.emeriobanque.com/news/trade-finance-market-size-to-hit-90-21-bn-by-2030-at-7-4-cagr
