The latest market report published by Credence Research, Inc. “Global Supply Chain Finance Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global Supply Chain Finance Market generated revenue of around USD 6.2 billion in 2022 and is anticipated to grow a CAGR of over 8.50% during the forecast period from 2023 to 2030 to reach around USD 10.97 billion in 2030.
The rise in the need for safety and security of supplying activities and the surge in the adoption of supply chain finance by SMEs in developing countries are driving the supply chain finance market growth. In addition, increased competition and new agreements regarding supply chain finance fuel the market’s growth. However, the rise in trade wars and high implementation costs restrain the market’s growth. On the contrary, integrating blockchain in online supply chain finance practices is expected to create lucrative opportunities for the market to grow over the forecast period.
The global supply chain finance market is bifurcated into Offering, Provider, Application, End-User and Geography. Based on offering, the market is categorized into export and import bills, letters of credit, performance bonds, shipping guarantees, and others. On the basis of provider, the global market is segmented into banks, trade finance houses, and others. On the basis of application, the global market is segmented into domestic and international. On the basis of end users, the global market is segmented into large enterprises and small & medium-sized enterprises. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
In 2021, Asia Pacific was to dominate the global supply chain finance market and accounted for a major market revenue share in value. The region focuses on the trade flows, logistic markets, and economic instability of developing counties, which is expected to augment the adoption of the SCRM platform. Countries with developing economies like India, Australia, and Singapore are also directing their approach to strengthen their global supply chain network. Thereby, Asia-Pacific is anticipated to boom the market over the forecast period.
There are numerous opportunities in the supply chain finance market. This is due to the fact that there is an increasing demand for financing among small and medium enterprises (SMEs) involved in global supply chains. However, the majority of existing financial institutions are reluctant to provide financing to SMEs due to the perceived risks associated with them. This presents a major opportunity for financial institutions that are willing to take on this risk. In addition, the use of new technologies such as blockchain and artificial intelligence (AI) can help financial institutions better assess and manage risks in supply chain finance.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global supply chain finance market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2017-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global supply chain finance market segmentation based on offering, provider, application, and end-use.
- The global supply chain finance market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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