Trade Finance Market – Technologies such as blockchain, artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are being applied increasingly in trade finance.
Trade finance is the financing of international trade rows, acting as an intermediary between importers and exporters to mitigate the risks involved in transactions and enhance working capital efficiency in businesses. It deals with activities related to financing of domestic and international trade. The trade finance includes issuing letters of credit (LCs), receivables and invoice finance, credit agency, export finance, bank guarantees, insurance, and others. The Trade Finance accounted for US$ 42637.89 million in 2020 and is estimated to be US$ 64177.23 million by 2030 and is anticipated to register a CAGR of 4.2%. The report " Global Trade Finance Market, By Product Type (Guarantees, Letter of Credit, Documentary Collection, Supply Chain Finance, and Others), By Services Providers (Banks, and Trade Finance Houses), By Application (Energy, Finance, Transport, Power Generation, Healthcare, Metals and Non Metallic Minerals, Renewables, and Others) , and By Region (North Amer