Global Trade Credit Insurance Market Report 2023: Market to Experience Robust Growth, Fueled Expansion and Innovation Trends - Forecasts to 2028

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Jan 25, 2024, 11:45 ET

DUBLIN, Jan. 25, 2024 /PRNewswire/ -- The "Trade Credit Insurance Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.

The latest research publication taking an in-depth look at the Global Trade Credit Insurance Market emphasizes the market's robust growth trajectory, expected to follow a flourishing CAGR of 10.23% through to 2028. The comprehensive report analyses key market drivers, such as globalization and international trade expansion, economic uncertainty, and evolving financing dynamics. It also explores the rich scope of coverage, including segments like Single Buyer Coverage and Domestic Trade Credit Insurance, observing significant growth.

The European region is pinpointed as the dominant force in the global arena, with its advanced regulatory compliance and mature risk management practices contributing to a flourishing trade credit insurance landscape. The expansion of coverage and market growth have become increasingly pronounced as more businesses seek to protect their accounts receivable and advance sustainable international growth.

Key Drivers Encouraging Market Expansion

Globalization and Trade Expansion: As more businesses look beyond their borders, trade credit insurance serves as a vital safety net against diverse economic conditions and buyer default risks.
Economic Uncertainty: In light of unpredictable market conditions, trade credit insurance offers businesses stability, securing accounts receivable against the unforeseen.
Optimization of Finance: Enhanced by insurance, companies gain improved access to funding, boasting insured receivables that are attractive to lenders.
Risk Management: Companies utilize credit insurance to adhere to stringent regulatory standards and manage potential risks effectively.

Challenges such as economic and geopolitical uncertainties, complex supply chains, adverse selection, and evolving regulatory landscapes, are also dissected to present a balanced perspective of obstacles that the market encounters. Nonetheless, advancements in digital transformation, the adoption of technologies like AI and blockchain, and an increased focus on ESG considerations are propelling the industry forward, driving efficiency and expanding reach.

Segmental Growth and Regional Dominance

The report identifies Single Buyer Coverage as the fastest-growing segment, driven by businesses seeking focused protection for their major sales channels.
Within applications, Domestic Trade Credit Insurance demonstrates a strong uptrend, buttressed by the focus on safeguarding local transactions.
Europe is pinpointed as a key region with an established infrastructure, supporting a significant share of the global trade credit insurance market.

A selection of companies mentioned in this report includes

American International Group Inc.
China Export & Credit Insurance Corporation
Chubb Limited (ACE Limited)
QBE Insurance Group Limited
Nexus Underwriting Management Ltd.
Euler Hermes (Allianz SE)
Aon plc
Zurich Insurance Group Ltd
Axa S.A.
Willis Towers Watson Public Limited Company

For more information about this report visit https://www.researchandmarkets.com/r/n8zb1s

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SOURCE Research and Markets