Trade Finance Software Market New Investments Opportunities with 10.3% of CAGR by 2027 – Newgen Software Technologies, Persistent Systems, Surecomp, BT Systems, Finastra

Research Reports

Mar 15, 2021

At present, banks are focusing on meeting the increased expectations of online channel sophistication through their proprietary solutions. However, the bank’s independent platforms, portals, and host-to-host connections, delivered by various software vendors, are gaining importance. These solutions are increasing the ease of usage and visibility for enterprise clients while driving competition among banks. Thus, the demand for trade finance software is growing across the globe due to the technological innovation in the form of digitization of products and solutions, regulatory changes, switches in enterprise behavior and expectations, and growing market competition. This, in turn, is driving the growth of the trade finance software market in the present scenario.

The trade finance software marketwas valued at US$ 1394.9million in 2019 and it is projected to reach US$ 2920.4million by 2027; it is expected to grow at a CAGR of 10.3%from 2020 to 2027.

Get Sample PDF Copy at https://www.theinsightpartners.com/sample/TIPRE00011032

Impact of COVID-19 Pandemic on Trade Finance Software Market

The recent COVID-19 outbreak has significantly affected the world and is continuing to shatter the economies of several countries. Businesses around the world are facing severe economic difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. Owing to business shutdown, the world is anticipated to face an economic slowdown in 2020 and it is most likely to continue in 2021. Trade credit insurance plays a crucial role in APAC’s trade finance and managing working capital. The first effect of this pandemic on trade credit’s macro landscape originated through an increase of payment extensions leading to increased claims. Industry sectors including chemical, food & beverage, manufacturing and auto, pharmaceuticals, communications, media and technology have all felt the impact of COVID-19 on their liquidity and risk outlooks to varying degrees. Thus, the pandemic has made a significant impact on overall trade finance market. However, the governments of several countries in the region have taken significant initiatives to implement digitalization and other technologies to enhance the production and trade activities; thus, end users in the region are anticipated to emphasize on adopting paperless technologies, which would boost the demand for the trade finance software is the near future.

Strategic Insights

The players operating in the trade finance software market focus on strategies such as mergers, acquisitions, and market initiativesto maintain their positions in the market. A few developmentsby key players are listed below:

In 2020,China Systems has introduced specialized trade digitalization unit, which is working with trade finance fintech companies to integrate their technologies into banks and other customers’ systems.
In 2020, Surecompintroduced its Trade Finance-as-a-Service (TFaaS) suite comprising back-office trade finance management and processing, front-office for banks’ corporate clients, open API connectivity, and full access to its Marketplace.

Global Trade Finance Software Market – By Component

Solution
Services

Global Trade Finance Software Market – By Deployment

Cloud
On-Premise

Global Trade Finance Software Market – By Enterprise Size

SMEs
Large Enterprises

Global Trade Finance Software Market – By End-Use

Banks
Traders
Others

Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00011032

Tags: Trade Finance Software Market, Trade Finance Software Market 2027, Trade Finance Software Market 2021, Trade Finance Software Market size, 2021 Trade Finance Software Market, 2027 Trade Finance Software Market, Trade Finance Software Market share, Trade Finance Software Market analysis, Trade Finance Software See Campaign: http://www.theinsightpartners.com/reports/trade-finance-software-market/
Contact Information:
The Insight Partners 533, 5th Floor, Amanora Chambers, East Block, Amanora Township, Kharadi Road, Hadapsar, Pune-411028 Email :[email protected] Phone : +1-646-491-9876