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(Wireless-NewsWire.Com, November 10, 2018 ) Unstable Macro-Economic Factors Are Influencing the Growth of Credit Insurance Enabling Overall Growth of Credit Insurance Market at a CAGR of 2.9%
Latest market study on Credit Insurance Market to 2025 - Global Analysis and Forecasts Component (Products, and Services); Enterprise Size (Small & Medium Enterprise, and Large Enterprise); & Application (Domestic, and Export) - Global Analysis and Forecast”, the credit insurance market is estimated to reach US$ 10.77 Bn by 2025. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
The global trade sector is highly volatile and the sector has faced significant changes over a period of time. In 2017, global merchandise trade has witnessed substantial growth pertaining to the notable rise in import in East Asian countries. In developed countries, the demand for capital goods also rebounded and influenced the merchandise trade sector, thereby, helped the manufacturers, distributors, suppliers, and traders to invest more in their businesses. However, various adjustments in terms of trade agreements are being conducted by various developed as well as developing economies, including the US, the UK, and Ireland. The US Government is renegotiating on North America Free Trade Agreement (NAFTA) and reassessing its terms and conditions with other prevailing trade agreements.
This renegotiation has elevated several concerns related to potential trade barriers and challenges. On the other hand, European countries such as Northern Ireland and the UK have decided to withdraw their trade agreements from the United Nations (UN), which is again negatively influencing the trade sector in the European nations. The increasing limited trade environment in the developed and developing countries is hindering merchandize trade business in these countries, thereby leading the manufacturers, distributors, and traders to cover their products and businesses with credit insurances in order to keep up with investments as well as productivity growth.
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The global credit insurance sector is very heterogeneous and complex, its supervision and regulation are also considerably complicated. In the last, two to three decades the credit insurance sector has experienced rapid developments and changes in markets and structure of the industry. Broadly the role of the regulator and frameworks in the insurance sector is to ensure the integrity, stability, and viability of the financial system and monetary flow. The companies and agencies operating in the credit insurance market also feel the difference and gap between insurance regulatory frameworks in developing and developed countries.
The market for credit insurance globally has been segmented on the basis of components into two major segments including products and services. The companies operating in the global credit insurance market design and innovate robust products and services depending upon the requirements of the customers or clients. The global credit insurance market is further bifurcated on basis of enterprise size as small & medium enterprises (SMEs) and large enterprises.
The large enterprises capture a significant market share in the global credit insurance market over the years. The different types of applications of credit insurance include domestic trading market and export trading market. The export segment in the application is much more prominent and the demand for credit insurance products and services are gaining importance in the domestic market in the current years. The global market for credit insurance is categorized on basis of five strategic regions namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America.
The key industry players operating in credit insurance market globally Euler Hermes, Atradius N.V., Coface SA, American International Group, Inc., Credendo, QBE Insurance Group Ltd., Zurich Insurance Group, China Export & Credit Insurance Corporation, CESCE, and Export Development Canada among others. Several other participants are also operational in global credit insurance market that offers its customers with robust products and solutions, thereby catalyzing the demand of credit insurance market.
The report segments the global credit insurance market as follows:
Global Credit Insurance Market - By Component
Products
Services
Global Credit Insurance Market - By Enterprise Size
Small & Medium Enterprise
Large Enterprise
Global Credit Insurance Market - By Application
Domestic
Export
Global Credit Insurance Market - By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
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Asia Pacific (APAC)
Korea
China
India
Japan
Rest of Asia Pacific
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
South America (SAM)
Brazil
The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
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