What are the Historical Developments and Current Growth Metrics of the Artificial Intelligence AI In Trade Finance Market?
The artificial intelligence ai in trade finance market has seen considerable growth due to a variety of factors.
• In recent times, the market size of artificial intelligence (AI) in trade finance has observed a quick expansion. The market, which is predicted to escalate from $11.46 billion in 2024 to $13.62 billion in 2025, forecasts a compound annual growth rate (CAGR) of 18.8%.
Factors such as an increased need for improved risk management, a surge in the demand for process automation, a shift towards digitalization, a rise in the complexity of global trade, a stronger push for regulatory compliance, and a growing threat of fraud in financial transactions can be credited for the growth during the historic period.
What Is The Projected Growth Of The Artificial Intelligence AI In Trade Finance Market Size?
The artificial intelligence ai in trade finance market is expected to maintain its strong growth trajectory in upcoming years.
• There is anticipated to be a significant surge in the market size of artificial intelligence (AI) in trade finance within the coming years. It is projected to escalate to $26.91 billion by 2029, with a compound annual growth rate (CAGR) of 18.6%.
Several factors can be ascribed in respect to the growth during the forecast timeframe, including growing need for process automation, improved risk management strategies, elevated adoption of digital platforms, and a strong emphasis on regulatory compliance. Moreover, the increasing necessity for fraud detection, coupled with surging investments in high-performance computing infrastructure, add to the growth. Future trends within this period include the amalgamation of AI with blockchain, the adoption of AI-based predictive analytics, broadening of AI-aided automation, advanced utilization of machine learning models, and the creation of AI-backed customer service platforms.
What Are The Core Factors Supporting Growth In The Artificial Intelligence AI In Trade Finance Market?
The artificial intelligence (AI) in trade finance market is projected to grow, propelled by the escalating volumes of global trade. International trade, the purchase and sale of goods and services across national borders, has flourished due to diminished trade hurdles and enhanced economic collaboration among nations. AI tools in trade finance automate document production, handling, and verification, minimizing human errors and expediting transaction durations. For instance, as reported by the Bureau of Economic Analysis, a U.S. government agency, in February 2023, the deficit in goods and services in 2022 hit $948.1 billion, a rise of $103.0 billion from the $845.0 billion deficit in 2021. Moreover, Exports escalated to $3,009.7 billion, a surge of $453.1 billion compared to 2021. Imports also witnessed growth, hitting $3,957.8 billion, an increase of $556.1 billion from 2021. Hence, the escalating volumes of international trade are fuelling the expansion of the artificial intelligence (AI) in trade finance market.
What Are The Principal Market Segments In The Global Artificial Intelligence AI In Trade Finance Industry?
The artificial intelligence (AI) in trade finance market covered in this report is segmented –
1) By Component: Software, Services
2) By Technology: Machine Learning, Natural Language Processing (NLP), Robotic Process Automation (RPA), Predictive Analytics, Blockchain
3) By Deployment Mode: Cloud, On-Premises
4) By Application: Trade Documentation And Validation, Fraud Detection And Risk Management, Supply Chain Finance, Trade Credit Insurance, Trade Compliance And Monitoring, Other Applications
5) By End-User: Bank, Financial Institutions, Insurance Companies, Other End-Users
Subsegments:
1) By Software: AI-powered Trade Finance Platforms, Risk Assessment and Management Tools, Fraud Detection and Prevention Software, Document Processing and Automation Tools, Payment Processing Solutions
2) By Services: Consulting Services, Implementation and Integration Services, Training and Support Services, Data Analytics and Insights Services, Compliance and Regulatory Advisory Services
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Which Emerging Market Trends Are Altering The Artificial Intelligence AI In Trade Finance Industry?
Leading businesses in the AI in trade finance sector are creating automated solutions to improve operational efficiency and diminish processing timeframes. These automated systems provide digital means that employ cutting-edge technologies to streamline and mechanize trade finance tasks, boosting efficiency, securing transactions, documentation, and adherence to regulations. For example, a financial services firm based in the UK, HSBC Holdings plc, unveiled the HSBC Trade Solutions (HTS) in October 2022. The HSBC HTS is a progressive digital platform aimed at facilitating trade finance by providing customers with the means to manage all trade finance operations online. The platform is designed with a modular, API-based structure that is compatible with HSBC's trade services, and offers an easy-to-use, self-service interface. The HSBC Trade Solutions platform improves efficiency through automation, and incorporates strong risk management components, including protection against money laundering and fraud.
Who Are the Key Players In The Artificial Intelligence AI In Trade Finance Market?
Major companies operating in the artificial intelligence (AI) in trade finance market are:
• HSBC Holdings plc
• Accenture plc
• International Business Machines Corporation
• BNP Paribas SA
• Oracle Corporation
• SAP SE
• Infosys Limited
• Genpact LLC
• Asseco Poland SA
• Finastra Group Holdings Limited
• Pegasystems Inc.
• Temenos AG
• Appian Corporation
• Tungsten Automation Corporation
• ABBYY Solutions Ltd.
• Tradeshift Holdings Inc.
• Nucleus Software Exports Limited
• Demica
• Rossum
• Cleareye.ai
• Tradeteq Limited
• Previse Ltd.
• Newgen Software Technologies Limited
• Traydstream
• TradeSun Inc
What Are The Regional Insights Into The Artificial Intelligence AI In Trade Finance Market?
North America was the largest region in the artificial intelligence (AI) in trade finance market in 2024. The regions covered in the artificial intelligence (AI) in trade finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
