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Trade Finance Market size is set to grow by USD 16.64 billion from 2024-2028, Growing number of exports boost the market, Technavio

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NEW YORK, June 14, 2024 /PRNewswire/ — The global trade finance market size is estimated to grow by USD 16.64 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.38%  during the forecast period. Growing number of exports is driving market growth, with a trend towards incorporation of advanced technology with trade finance solutions. However, impact due to protectionist policies and trade war poses a challenge. Key market players include 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, HSBC Holdings Plc, JPMorgan Chase and Co., Mitsubishi UFJ Financial Group Inc., Morgan Stanley, NatWest Group plc, Standard Chartered PLC, Societe Generale SA, The Bank of New York Mellon Corp., The Goldman Sachs Group Inc., UBS Group AG, UniCredit SpA, and Wells Fargo and Co..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Trade Finance Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.38%

Market growth 2024-2028

USD 16644.5 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.81

Regional analysis

North America, Europe, APAC, Middle East and Africa, and
South America

Performing market contribution

APAC at 37%

Key countries

US, China, Japan, UK, and South Korea

Key companies profiled

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, HSBC
Holdings Plc, JPMorgan Chase and Co.,
Mitsubishi UFJ Financial Group Inc., Morgan
Stanley, NatWest Group plc, Standard Chartered
PLC, Societe Generale SA, The Bank of New York
Mellon Corp., The Goldman Sachs Group Inc.,
UBS Group AG, UniCredit SpA, and Wells Fargo
and Co.

Market Driver

Technology plays a significant role in the BFSI sector, particularly in trade financing. Innovations like the bank payment obligation (BPO) have streamlined processes, reduced risk, and optimized working capital. AI and ML are now being integrated to provide predictive analytics and automate document processing. Blockchain enhances efficiency and security by enabling direct digital transfers and smart contracts.

Citigroup’s AI-based compliance platform and the use of blockchain in trade finance are expected to boost market growth. 

The Trade Finance market is currently experiencing significant growth, with technologies like Artificial Intelligence and Blockchain playing key roles. These innovations are streamlining processes, increasing efficiency, and reducing risks. For instance, digitization of documents through Blockchain technology is making transactions faster and more secure.

Additionally, the use of predictive analytics in Trade Finance is enabling better risk assessment and management. Furthermore, the implementation of Commerce and Electronic Invoicing is making it easier for businesses to get paid on time. Overall, these trends are transforming the Trade Finance industry, making it more accessible, efficient, and secure for all involved parties. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The trade finance market can be significantly impacted by trade wars between countries. In 2018, the US imposed tariffs on various imports from the EU, Canada, China, and Mexico, leading to retaliatory actions from these countries. This resulted in increased duties on agricultural products and motorcycles from the US, affecting international trade. In 2023, the US initiated an investigation against China’s trade policies, potentially leading to a larger trade war.These conflicts can negatively impact the trading relationship between countries and decrease international trade, which may affect the trade finance market during the forecast period.In the complex and dynamic world of Trade Finance, several challenges persist. These include regulatory requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance.Technology plays a crucial role, with the need for secure and efficient systems to manage transactions and mitigate risks. Another challenge is the increasing use of digital currencies and blockchain technology, which require new approaches to financing and risk management. Additionally, trade finance faces competition from other financial instruments, making it essential to offer competitive pricing and services. Lastly, the global economic environment and geopolitical risks can significantly impact trade finance activities.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

Type 1.1 Traditional trade finance1.2 Supply chain finance1.3 Structured trade financeEnd-user 2.1 Importers and exporters2.2 Banks and financiers2.3 Insurers and export credit agenciesGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Traditional trade finance- Trade finance is a vital component of international business, facilitating the exchange of goods and services between buyers and sellers. It involves the provision of short-term credit by banks to buyers for making purchases or financing exports. This process streamlines transactions, reduces risk, and enhances cash flow for businesses. Trade finance instruments include letters of credit, bills of exchange, and factoring. These tools ensure timely payments and mitigate the risk of non-payment, thereby fostering trust and stability in global trade.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Trade Finance market is a critical segment of international trade, facilitating financial solutions for businesses involved in cross-border transactions. With the increasing complexity of global trade and the need for efficient time zone management, trade finance has evolved to incorporate technological advancements. Digital platforms and application processes have streamlined trade finance, reducing the reliance on traditional paper-based processes.

Trade agreements and trade wars continue to shape the global trade landscape, necessitating innovative technologies such as blockchain-based solutions for secure and transparent trade transactions. Sustainable finance and advanced technology are driving digitalization in trade finance processes, enabling supply chain finance and automated trade settlements.

AI and machine learning are also being integrated into trade finance processes to enhance efficiency and risk management. Overall, the Trade Finance market is undergoing significant digital transformation, offering numerous opportunities for financial institutions to stay competitive.

Market Research Overview

The Trade Finance Market encompasses various financial instruments and services that facilitate international and domestic trade transactions. These instruments include letters of credit, documentary collections, forfaiting, factoring, and trade loans. The market aims to mitigate risks associated with trade, provide liquidity, and ensure the smooth flow of goods and services between buyers and sellers.

Technologies such as blockchain and artificial intelligence are increasingly being adopted to enhance transparency, efficiency, and security in trade finance processes. Regulations like the Basel III Accord and Know Your Customer (KYC) norms play a crucial role in shaping the market landscape. The market is expected to grow significantly due to the increasing globalization, digitalization, and trade volumes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeTraditional Trade FinanceSupply Chain FinanceStructured Trade FinanceEnd-userImporters And ExportersBanks And FinanciersInsurers And Export Credit AgenciesGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Supreme Court Justice Michelle O’Bonsawin Joins Elementary Students for Live Virtual Q&A and Chapter One Storybook Reading on Sep. 24

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The Honourable Justice Michelle O’Bonsawin, the first Indigenous person appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A on September 24, from 1:00-2:15 pm ET, following a reading of the children’s storybook, “Daanis the Judge.” This event is hosted by Chapter One, a children’s literacy charity, to commemorate the National Day for Truth and Reconciliation. Lawyer Victoria Perrie, writer of “Daanis the Judge,” will read aloud the inspiring story, which is based on Justice O’Bonsawin’s remarkable journey. Illustrator EJ Miller-Larson will join Justice O’Bonsawin and Perrie in a moderated Q&A session with over 1900 elementary students.

TORONTO, Sept. 21, 2024 /PRNewswire-PRWeb/ — The Honourable Justice Michelle O’Bonsawin, the first Indigenous person to be appointed to the Supreme Court of Canada, will join elementary students in a live virtual Q&A following a live online reading of the original children’s storybook “Daanis the Judge,” on September 24, from 1:00-2:15 pm ET. The event will be hosted by Chapter One to mark the National Day for Truth and Reconciliation. Chapter One is a children’s literacy charity that provides 1:1 high-impact reading tutoring and co-creates original storybooks with participating communities nationwide.

“I am very humbled and proud to be a part of the book, “Daanis the Judge.” My hope is that this book will inspire youth to dream big and know that anything is possible. I am evidence of that!” – Justice Michelle O’Bonsawin

Métis-Cree lawyer Victoria Perrie, who wrote “Daanis the Judge,” will lead the live reading. Students will ask questions during a moderated Q&A with Justice O’Bonsawin, Perrie, and illustrator EJ Miller-Larson, of the Fond du Lac Band and Oneida Nation.

“Daanis the Judge” was inspired by Justice O’Bonsawin’s trailblazing career. It tells the story of a young student, Daanis, who dreams of becoming a judge after learning about Justice O’Bonsawin’s achievements.

The story is part of Chapter One’s growing collection of original children’s e-storybooks, co-created with Indigenous writers, illustrators and communities. The e-storybooks celebrate Indigenous experiences and perspectives, and feature audio clips of Elders pronouncing foundational words in their communities’ first languages. All e-storybooks are provided for free through the Global Free Library.

About Chapter One

Chapter One (chapterone.org/ca) is a global nonprofit and registered Canadian charity that provides one-on-one early literacy tutoring programs to 2,300 children in eight provinces and territories across Canada. Its proven “short burst” high-impact tutoring approach—five-minute sessions, three to five times a week—is ideally suited to young children’s attention spans and aligns with the Science of Reading. In one of the largest randomized control trials conducted on early literacy instruction, researchers from Stanford University found that 7 out of 10 students receiving Chapter One high impact tutoring achieved phonics benchmarks by the end of Kindergarten, compared to 32% in the control group.

Children at risk of reading failure receive 1:1 reading support from trained, paid paraprofessional tutors through Chapter One’s online reading platform and custom software. Programs are delivered in-person and virtually in classrooms through agreements with schools and school boards, and at home on families’ smartphones, connecting struggling readers with individualized reading support—regardless of location and circumstance, even in some of the most geographically remote communities in Canada.

In addition to its tutoring programs, Chapter One collaborates with Indigenous communities to co-create children’s stories that represent the communities’ priorities and experiences and advance language revitalization efforts. The e-storybooks are provided for free online, as part of the Global Free Library.

Event details

The Live Virtual Q&A and Reading of “Daanis the Judge” with the Honourable Justice O’Bonsawin takes place on Tuesday, September 24, from 1:00-2:15 pm ET via Zoom. The event is open to elementary classes (Grades 1-6). Teachers/principals must register their classes in advance using this link.

Media Contact

Denise Orosa, Chapter One Canada, 1 4374224825, denise.orosa@chapterone.org, chapterone.org/ca

View original content to download multimedia:https://www.prweb.com/releases/supreme-court-justice-michelle-obonsawin-joins-elementary-students-for-live-virtual-qa-and-chapter-one-storybook-reading-on-sep-24-302254639.html

SOURCE Chapter One Canada

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PEAC Institute Launches “24 Hour Pause for Peace: A Global Concert”

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24 Hour Pause for Peace Will Be the Largest Peace Initiative Ever Worldwide, Unifying 96 Countries on Six Continents Through Music

MONTCLAIR, N.J., Sept. 21, 2024 /PRNewswire-PRWeb/ — On this International Day of Peace, PEAC Institute, part of the 2017 Nobel Peace Prize winning team, has launched “24 Hour Pause for Peace: A Global Concert,” the largest peace initiative ever organized worldwide through music.

“Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.”

On October 4, 2025, this ground-breaking program will activate a massive network of youth ensembles that spans 96 countries and territories across six continents and host two 24-hour commercial festivals featuring some of the biggest acts in music and entertainment. This extraordinary day-long event will be live-streamed globally, allowing millions to participate simultaneously.

“It has been 40 years since Live Aid and We Are the World historically unified and changed the world through music,” said Rebecca Irby, president and CEO of PEAC Institute. “With our planet riddled with post-pandemic fatigue, climate chaos, unsettling wars and more, we believe it is time to create a new trajectory for humanity by inviting everyone around the globe to a 24 hour pause for peace to enjoy the sounds of music and feel the transformative power of human connection,” Irby explained.

Additionally, 24 Hour Pause for Peace plans to amass more than 100 million ambassadors to sign an appeal to the United Nations calling for a 24 hour ceasefire during the children’s concerts and commercial music events. All countries are welcome to participate with no exceptions. One of Pause for Peace’s core beliefs is everyone has the right to be equally respected and heard, particularly in collectively calling for peace.

“Achieving this ambitious global endeavor requires the support and participation from the most impactful brands, organizations, and influential leaders, artists and celebrities,” said Jennifer McKenna, 24 Hour Pause for Peace CEO.

Pause for Peace is a $165 million global initiative. Currently, it is in its first phase of raising seed capital through consumer brand-aligned sponsorships and private donors. Funding for the program is tax-deductible through PEAC’s 501(c)(3) status.

“We have assembled an exceptional executive team of change agents in entertainment, production, consumer marketing, charitable development and global security to make this extraordinary, worldwide peace event happen.” McKenna added. “Now, we need companies, government entities, other nonprofits and donors who care about our cause for peace to join us in lifting up the biggest event of this generation.” To become involved in 24 Hour Pause for Peace: A Global Concert as a sponsor, partner or donor, sign up to be an Ambassador, or for more information, go to www.24hourpauseforpeace.org.

About PEAC Institute

PEAC Institute is a 501(c)(3) nonprofit organization based in the United States. PEAC stands for peace, education, art and communication. It was formed in 2016 through a campaign with partner organization, International Campaign to Abolish Nuclear Weapons (ICAN), which garnered a 2017 Nobel Peace Prize. PEAC now holds special consultative status with the Economic and Social Council of the United Nations and has a global presence working with countries and territories worldwide to reach the most marginalized youth through art and communication activities to help them explore and express. For more information on PEAC Institute, go to www.peacinstitute.org.

Media Contact

Chadwick Boyd, Pause for Peace, 1 4046060611, chadwick@24hourpauseforpeace.org, www.24hourpauseforpeace.org

View original content to download multimedia:https://www.prweb.com/releases/peac-institute-launches-24-hour-pause-for-peace-a-global-concert-302254527.html

SOURCE Pause for Peace

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Global Times: China opens 12 nuclear research facilities to global scientists

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The involved facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

VIENNA, Sept. 21, 2024 /PRNewswire/ — China will open 12 nuclear research facilities and testing platforms to international scientists and institutions to enhance global cooperation, a senior Chinese official said here on Monday.

These include the China Advanced Research Reactor, the new-generation tokamak device Huanliu-3, and the Beishan Underground Research Laboratory, Liu Jing, vice chairman of the China Atomic Energy Authority (CAEA), said at a meeting on the sidelines of the International Atomic Energy Agency’s (IAEA) annual general conference.

The facilities span areas such as basic nuclear research, isotope production, nuclear environment simulation, equipment testing, and radioactive waste treatment and disposal.

Monday’s meeting, themed “Share for Development,” was organized by the CAEA to promote international cooperation in nuclear technology research and development, as China marks the 40th anniversary of its accession to the IAEA.

Yu Jianfeng, chairman of China National Nuclear Corporation, said at the event that the company aims to deepen cooperation with the IAEA and expand international collaboration. He expressed hope that opening China’s nuclear research facilities will contribute to advancing nuclear technology globally.

IAEA’s Deputy Director General Mikhail Chudakov commended China’s remarkable achievements in nuclear energy development and highlighted the long-standing, fruitful relationship between the IAEA and the CAEA.

Welcoming China’s decision to open up more of its nuclear research and development facilities, Chudakov said the move will further strengthen the agency’s technical capacity to support its member states.

On Monday evening, the CAEA and China’s permanent mission to the United Nations (UN) and other international organizations in Vienna jointly held a reception at the UN headquarters in Vienna to celebrate the 40th anniversary of China’s accession to the IAEA. More than 200 participants, including IAEA representatives and foreign envoys to Vienna, attended the event.

Li Song, China’s permanent representative to the UN and other international organizations in Vienna, said at the reception that China and the IAEA have expanded practical cooperation and jointly promoted the development of nuclear energy over the past 40 years.

China, he said, will continue to strengthen collaboration with the IAEA and its member states to address emerging challenges in international security, safeguard the global non-proliferation regime, and promote the use of nuclear energy and technology for the benefit of the Global South.

At the reception, Liu, Li and IAEA Director General Rafael Grossi jointly unveiled a bronze statue of Qian Sanqiang, a renowned Chinese nuclear physicist and one of the founders of China’s nuclear industry.

The statue, donated by China, will be permanently displayed at the IAEA headquarters, alongside sculptures of Polish-French physicist Marie Curie and other prominent figures who have made significant contributions to the peaceful use of nuclear energy.

Contact: xutianshu@globaltimes.com.cn

View original content:https://www.prnewswire.com/news-releases/global-times-china-opens-12-nuclear-research-facilities-to-global-scientists-302254830.html

SOURCE Global Times

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