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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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KAYAK Launches WTF (What the Future) Travel Trend Report

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Rise in City Jumping, Spiritual Sidequests and Feedbooking among top travel predictions for travel by 2030

STAMFORD, Conn., Jan. 23, 2025 /PRNewswire/ — Out with single-stop journeys, in with city jumping adventures. Bid farewell to self-care trips and welcome journeys of self-discovery and cosmetic-cations. Loyalty programs take a back seat as price-conscious travelers seek better deals.

Today, KAYAK, the world’s leading travel search engine, is rolling out its WTF – What the Future – report, giving travelers a first look at the hottest travel trends shaping the next 5 years.

Diving into survey insights from over 9,000 individuals spanning 9 countries, exclusive interviews with KAYAK executives, and an in-depth analysis of KAYAK’s billions of searches, KAYAK teamed up with The Future Laboratory, a trailblazer in trend forecasting, to unveil eight groundbreaking travel trends set to dominate your social media feeds and shape the future of travel by 2025.

So… What’s The Future? KAYAK’s Travel Predictions for 2030

AI Agents
A new wave of travel agents is emerging, focusing on personalized travel experiences. Over one third (36%) of Americans would use AI for travel recommendations and inspiration. Another third wish AI could simplify comparing flight and hotel prices (33% and 34%) . While 71% of Americans have yet to try AI for trip planning, by 2030, AI assistants will be more commonly used.

“AI is already rapidly improving customer support for travel delays and itinerary changes. It’s also suggesting personalized recommendations of places to visit and things to do. The next big step forward will be automated bookings – and we’re already making KAYAK AI agent-friendly.” – Steve Hafner, CEO of KAYAK

City Jumpin’, Jumpin’
By 2030, travelers will prioritize multi-stop trips over single destination vacations. Looking ahead to next year, there’s already 45% of Americans who are planning to “city jump” or visit multiple cities in a single vacation. Why? 47% want to experience more during their trip and 49% are all about affordability. This year, 93% of Americans aim to explore 1 to 5 cities per trip. And by 2030, that number could double.

Vitamin T
By 2030, the value of a trip will hinge on wellness scores. KAYAK notes a surge in wellness travel, with pools as the top searched hotel amenity globally, followed by hot tubs, spas, and fitness facilities. 60% of travelers prioritize relaxation, while 13% emphasize health and wellness. Destinations promoting longevity will become sought-after additions to travelers’ bucket lists.

A Cosmetic-cation Boom For Americans It’s not just wellness scores that will be all the rage by 2030. If you’ve ever heard of a healthcation then get ready for a cosmetic-cation (i.e. a trip for a cosmetic or beauty procedure). While only a small group have jetted off for cosmetic treatments abroad, 1 in 8 have considered it, hinting at a future surge, with another 1 in 10 ready to go test it out. For those who HAVE traveled for a cosmetic-cation, affordability (for 61%) is the key factor. With healthcare expenses climbing, brace yourself for more international jaunts for beauty enhancements by 2030! Hair transplants in Turkey, anyone?

Feedbooking
A social shopping surge is on the horizon. Nearly half of Americans (43%) have made purchases influenced by social media, with another 20% having considered it. Facebook and Instagram are top influencers, with over a quarter of Americans booking a trip after seeing a post. Current social purchases run $200 or less, but by 2030, KAYAK expects social media to become a travel shopping hub, boosting purchase numbers.

Travel is Gonna be LIT (Low Intensity Trips)
Off-season adventures await. For more than one third of Americans (36%), off-season travel is preferred to avoid the crowds, even if it means a compromise on the weather. Not to mention the savings! Opting for shoulder season travel in Europe can slash costs by up to 27% compared to peak periods. KAYAK predicts a rise in offbeat destinations driven by better prices and more conscious traveler choices in the next 5 years.

Virtual Voyages
Here comes a travel tech revolution. 1 in 7 Americans are embracing VR headsets to explore destinations before booking, and by 2030, holographic concierges and automatic airfare refunds could be the norm. Travelers are excited about virtual hotel room previews (35%) and in-flight VR entertainment (10%) for an immersive journey.

Spiritual Sidequests
Get ready to soar with a spiritual sidequest. 1 in 6 Americans are eyeing silent retreats to disconnect from their phones, while 1 in 14 are keen on psychedelic therapy trips abroad. These trends are primed to skyrocket in the next 5 years!

Disloyalty Programs
Americans have a love-hate relationship with loyalty programs, which we predict will continue to evolve in the next 5 years. Now, about 22% of Americans are in travel loyalty programs, but 21% feel price comparison tools (like KAYAK!) offer better value than traditional airline rewards. This is why we’ll start to see loyalty programs shift to cater to more price-conscious travelers. With 72% expecting pricier travel ahead, saving is key – travelers are ready to switch brands to be loyal to the deal instead.

Learn more about KAYAK’s WTF predictions HERE.

Methodology

Global Survey insights
PureSpectrum interviewed 9112 respondents aged 18+ in the US, UK, Canada, Brazil, France, Germany, Denmark and Sweden who travel for leisure purposes internationally at least once a year. The survey was conducted using an online methodology. A sample of 2000 people were polled in the US, and all other markets had a targeted minimum sample of 1000 completes. The research fieldwork was conducted from August 13 – 20, 2024.

US Survey insights
This survey has been conducted using an online interview administered to members of the YouGov Plc panel of individuals who have agreed to take part in surveys. Total sample size was 1091 adults. Fieldwork was undertaken between 19th – 20th December 2024. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).

KAYAK data analysis
Based on hotel searches made on KAYAK and associated brands in the period between September 1, 2023 and September 15, 2024 for stays between January 1, 2024December 31, 2024.

About KAYAK
KAYAK, part of Booking Holdings (NASDAQ: BKNG), is the world’s leading travel search engine. With billions of queries across our platforms, we help people find their perfect flight, stay, rental car and vacation package. We also support business travelers with our corporate travel solution.

About The Future Laboratory
The Future Laboratory is one of the world’s most renowned futures consultancies. With a unique blend of trend forecasting, consumer insight, brand strategy and innovation, the company has helped to shape, inspire and future-proof organisations globally since 2001.

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SOURCE KAYAK

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Burrell Communications Group partners with Microsoft to innovate the tech giant’s approach to employee and culture storytelling

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Agency’s newest business win caps a successful first year under new ownership and leadership

CHICAGO, Jan. 23, 2025 /PRNewswire/ — Burrell Communications Group, one of the world’s most highly regarded Black-owned advertising agencies, has announced a new partnership with Microsoft, with the work to be centered on placing a strategic, people-focused lens on the tech giant’s employee storytelling efforts, driving innovative and impactful results.

The move to bring on Burrell, a champion in the multicultural marketing arena, is the agency’s newest business win and caps a stellar first year since Burrell was acquired by a private equity firm in late 2023 and named a new CEO and executive leadership team.

Burrell was chosen by Microsoft to develop a year-long marketing campaign to help tell the stories of its employees and company culture, as Microsoft grows into its 50th year.

“We were very intentional about presenting our creativity, backed by data-driven cultural insights to Microsoft which proved that people don’t live or think in silos,” said Tara DeVeaux, Burrell’s CEO. “Burrell has invested heavily in a cultural segmentation study that became a foundational element of our recommendation. We live in an intersectional world and race is just one part of how the population identifies. Every community navigates in unique ways they want to be recognized, embraced and understood,” she added. “Given our commitment to understanding the changing dynamics of people and culture, there’s no better agency for Microsoft to partner with in crafting their new approach than Burrell.”

“We’re energized to be working with Burrell Communications Group, and for the opportunity to tap into their marketing experience to continue to tell the stories of our employees around the world and their contributions to decades of Microsoft’s innovation,” stated Amanda O’Neal, Senior Director, Multicultural Communications for Microsoft. “Burrell has a strong track record helping Fortune 500 companies reflect authenticity and creativity in marketing campaigns and we look forward to the work ahead.”

ABOUT BURRELL COMMUNICATIONS GROUP:
Burrell Communications Group was founded in 1971 by renowned ad man Tom Burrell, who led the company for33 years. Today, Burrell Communications Group is the largest U.S. Black-owned agency specializing in understanding and speaking to today’s market, one that is more diverse and more multicultural than ever before in our country’s history. The agency boasts a roster of premiere, blue-chip clients that lead in their respective categories, including McDonald’s, Toyota, Comcast, Fidelity, Coca-Cola, Unilever and the American Red Cross. For more information, visit burrell.com.

ABOUT MICROSOFT:
Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.

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SOURCE Burrell Communications Group

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Medely Expands into Seven Key U.S. Markets to Simplify Healthcare Staffing and Address Labor Shortages

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LOS ANGELES, Jan. 23, 2025 /PRNewswire/ — Medely, a leading healthcare workforce management solution, today announced its expansion into seven new markets. Medely’s expansion is poised to address critical labor shortages by optimizing staffing efficiency, reducing operational costs, and addressing the growing demand for healthcare services in these key markets.

Medely launches in new markets, offering flexible staffing solutions to address critical healthcare labor challenges.

Expanding to Meet Market Demand

Medely’s expansion is driven by extensive research into the specific needs of medical facilities. As demand for care grows across the U.S., many facilities are facing difficulty finding qualified staff, especially for short-term or fluctuating needs. Medely’s platform is designed to address these challenges by offering immediate access to pre-vetted qualified independent professionals in real-time.

Here’s why these regions were selected:

Nashville: As a healthcare hub, Nashville is seeing a rise in outpatient care demand, especially with the city’s growing population. A 2021 study by the Tennessee Hospital Association reported that Tennessee needed about 15,700 more RNs to provide a national average level of care accounting for demographics, prevalence of disease and health risk factors, and socioeconomic factors within the state’s population.Indianapolis: With a rapidly growing healthcare market, Indianapolis is experiencing increasing demand for outpatient services. Estimates predict that Indiana would need an additional 5,000 nurses by 2031, equal to graduating an additional 1,300 nurses each year until that time, according to the Indiana Hospital Association.Charlotte: The fast-growing population of Charlotte is driving demand for outpatient care services. Medely’s talent marketplace offers an efficient, cost-effective solution to staff these facilities with the right talent, ensuring high-quality patient care and reducing staff shortages.Columbus: Columbus has seen an increase in nurse churn rates, with about 40% of nurses reporting significant unit turnover. The financial impact is substantial, as each percent reduction in RN turnover can save hospitals an average of $262,500 annually according to data from NSI. By providing a streamlined, efficient way to fill shifts quickly and with quality professionals, Medely can play a significant role in helping hospitals reduce turnover-related costs.Las Vegas: With seasonal fluctuations and a dynamic population, Las Vegas presents unique staffing challenges for outpatient facilities. For example, in 2023, Las Vegas attracted approximately 40.83 million visitors, contributing to the demand for healthcare services, especially in emergency and urgent care sectors. Medely’s platform offers the flexibility to scale staffing needs up or down, ensuring facilities can meet demand while keeping operational costs manageable.Portland: According to the Bureau of Labor Statistics, job openings in the healthcare and social assistance sector in Portland rose 48% from 1.2 million in 2019 to 1.8 million in 2023. This surge reflects a demand for healthcare professionals driven by clinician shortages and high turnover, as many seek better pay, working conditions, or retirement.Kansas City: Kansas City’s outpatient care sector is expanding, but nurse education enrollment is down, making flexible staffing solutions more crucial than ever. In fact, one study cites that, “29% of registered nurses and 23% of licensed practical nurses in Kansas are planning to retire within the next five years. And enrollments in nursing education programs are down 39% over the last 10 years.” Medely’s Talent Marketplace offers a way for facilities to quickly find qualified independent professionals, ensuring high-quality care while reducing time-to-hire.

Streamlining Staffing with Medely’s Talent Marketplace

Medely’s Talent Marketplace provides facilities with immediate access to a diverse pool of independent healthcare professionals across multiple disciplines, reducing the administrative burden and cost typically associated with traditional staffing models. The platform’s intuitive interface and real-time availability allow facilities to fill shifts faster with less overhead.

“We’re incredibly excited to expand into these new markets, where we see a critical need for flexible, high-quality healthcare staffing solutions,” said CEO and Founder of Medely, Waleed Nasr. “We’re not only helping healthcare facilities meet immediate staffing needs, but also driving long-term equity by providing healthcare professionals with the freedom to choose their work schedules, while supporting diverse talent pools.”

Introducing Talent Fusion: A Seamless Solution for Workforce Management Needs

In addition to the Talent Marketplace, Medely offers Talent Fusion, a solution to manage internal talent pools and fill per diem and longer-term shifts with one solution.

By utilizing Medely’s marketplace with internal resource management, facilities gain full visibility into their contingent labor data—including time tracking, credentialing, and vendor management—within a single solution.

This is why the largest outpatient network in the country is using Talent Fusion, allowing them to analyze spend and usage across facilities, make data-driven decisions, increase revenue, and manage their internal workforce and independent per diem talent. The solution provides a scalable, tailored approach to staffing that adapts to evolving needs.

A Future-Focused Approach

As Medely continues to scale its operations, the company is not just expanding its footprint – it is also rethinking the future of healthcare staffing. Medely’s expansion into these seven new markets is part of a broader strategy to meet the evolving needs of the U.S. healthcare system. By continuing to leverage data and technology, Medely is creating a future where healthcare staffing is more accessible, equitable, and efficient for all.

For more information about Medely and its services, please visit www.medely.com.

About Medely
Medely is a leading workforce management solution, addressing critical labor shortages and transforming the healthcare workforce. Through its innovative Talent Marketplace and Talent Fusion solutions, Medely unifies the extended workforce by integrating internal resources, independent per diem staffing, credentialing, and vendor management into a single seamless solution. By streamlining staffing, reducing operational costs, and meeting the growing demand for healthcare services, Medely empowers outpatient facilities to thrive.

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SOURCE Medely Inc

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