As per the latest news, a rise has been seen in the acknowledgement of supply chain finance in emerging economies to support the development of the global supply chain finance market. The Covid-19 pandemic significantly improved the interest in new technologies, including electronic/digital invoices, artificial intelligence, smartphone and mobile internet access, and blockchain technology in trade finance transactions, tremendously affecting the development of the international market. Area-wise, the Asia-Pacific region held a noticeable share in 2021.
According to the report released by Allied Market Research, the global supply chain finance market produced $6 billion in 2021 and is expected to reach $13.4 billion by 2031, developing at a CAGR of 8.8% from 2022 to 2031. This report comprehensively evaluates the top winning methodologies, emerging trends in the market, market size and estimations, value chain, vital venture pockets, drivers & valuable opportunities, competitive scenario, and territorial conditions. This report is a relevant source of data for new participants, shareholders, leaders, and shareholders in introducing crucial methods for the future and measuring vital steps to boost and improve their position in the market efficiently.
Covid-19 Situation:
1. No doubt that the sudden outbreak of the Covid-19 pandemic hurt the development of the international supply chain finance market due to the growth in remote working activities forming the overwhelming task of catching information from many locations and sources for the supply chain finance companies.
2. On the other hand, the global pandemic outbreak also increased the demand for new innovations, including digital invoices, AI, blockchain in trade transactions etc., which resulted in the development of the global market.
