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Letter of Credit Confirmation Market by L/C Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030

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    Report

  • 285 Pages
  • November 2021
  • Region: Global
  • Allied Market Research
  • ID: 5125503
Description Jump to:
A letter of credit is a financial tool, which guarantees the buyer’s payment to the sellers during the trade. It is used in both domestic and international trades market in order to facilitate secured payment terms and transactions globally. In addition, a bank or a financial institution acts as a third-party between the buyer & the seller, which issues a letter of credit and guarantees the payment of funds on the completion of certain commitments mentioned in the trade documents. Furthermore, for confirmation of letter of credit transaction usually involves two banks namely, the buyer's bank which is an issuing bank and the seller's bank which is a confirming bank. The payments are guaranteed by the issuing bank that further issues a letter of credit on behalf of the importer. Moreover, the confirming bank adds its confirmation to the letter of credit, assuming that the terms & condition for existing trade are fulfilled from issuing banks.

With an increased global trade and to avoid risk of payments, the importers and exporters are largely implementing protection for their trade documents via letter of credit confirmation services. In addition, rise in demand for customized trade finance solutions globally and regulatory support in growth of strict regulations for secured letter of credit confirmation services is some of major growth factors in the market. However, due to an involvement of several intermediaries between the issuer and beneficiary banks globally, the online letter of credit confirmation procedure are prone to fraudulent and cyber attacks such as loss of huge trade amounts and confidential data leakages. This, as a result, becoming major restraining factors in the letter of credit confirmation market.

On the contrary, increase in technologies such as distributed ledger technology (DLT) and blockchain is expected to provide lucrative opportunities in terms of creating real-time digitalized letter of credit contract, auto notifications alert over trades, and enhance business efficiency in the market. Moreover, increase in business operations and global trading among small & medium enterprises, and large companies are providing lucrative opportunities for confirming banks to expand their business in letter of credit confirmation services in the market.

The global letter of credit confirmation market is segmented on the basis of L/C type, end user, and region. In terms of L/C type, it is bifurcated into sight L/C and usance L/C. Based on end user, the market is segmented into small-sized businesses, medium-sized businesses, and large enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the global letter of credit confirmation market analysis are Bank of America Corporation, Citigroup, Inc., DBS Bank Ltd, JP Morgan Chase & Co., Mizuho Bank, Ltd., MUFG Bank, Scotiabank, Standard Chartered, Sumitomo Mitsui Banking Corporation, and The PNC Financial Services Group, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

KEY BENEFITS FOR STAKEHOLDERS

  • The study provides an in-depth analysis of the global letter of credit confirmation market along with the current & future trends to elucidate the imminent investment pockets.
  • Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
  • The quantitative analysis of the global letter of credit confirmation market from 2020 to 2030 is provided to determine the market potential.

KEY MARKET SEGMENTS


By L/C Type

  • Sight L/C
  • Usance L/C

By End User

  • Small-sized Businesses
  • Medium-sized Businesses
  • Large Enterprises

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asis-Pacific
  • LAMEA
  • Brazil
  • Turkey
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

KEY MARKET PLAYERS

  • Bank of America Corporation
  • Citigroup, Inc.
  • DBS Bank Ltd
  • JPMorgan Chase & Co
  • Mizuho Bank, Ltd.
  • MUFG Bank
  • Scotiabank
  • Standard Chartered
  • Sumitomo Mitsui Banking Corporation
  • The PNC Financial Services Group, Inc.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Key market segments
1.5. Research methodology
1.5.1. Secondary research
1.5.2. Primary research
1.5.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping the letter of credit confirmation market
3.3. Methods of payment collection in letter of credit confirmation market
3.3.1. Invoices
3.3.2. Bills of Exchange
3.3.3. Government Documents
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Increased risk of non-payment
3.4.1.2. Rise in demand for customized trade services
3.4.1.3. Growth in strict terms and conditions
3.4.2. Restraint
3.4.2.1. Increase in fraud and cyber attacks
3.4.3. Opportunities
3.4.3.1. New technological developments
3.4.3.2. Untapped potential of emerging economies
3.5. COVID-19 impact analysis on letter of credit confirmation market
3.5.1. Impact on letter of credit confirmation market size
3.5.2. Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.5.3. Framework for market challenges faced by letter of credit confirmation providers
3.5.4. Economic impact on letter of credit confirmation providers
3.5.5. Key player strategies to tackle negative impact on the industry
3.5.6. Opportunity analysis for letter of credit confirmation providers
CHAPTER 4: LETTER OF CREDIT CONFIRMATION MARKET, BY L/C TYPE
4.1. Overview
4.1.1. Market size and forecast
4.1.2. Market volume and forecast
4.2. Sight L/Cs
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market volume and forecast, by region
4.3. Usance L/Cs
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market volume and forecast, by region
CHAPTER 5: LETTER OF CREDIT CONFIRMATION MARKET, BY END USER
5.1. Overview
5.1.1. Market size and forecast, by region
5.1.2. Market volume and forecast, by region
5.2. Small enterprises
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market volume and forecast, by region
5.3. Medium-sized enterprises
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market volume and forecast, by region
5.4. Large enterprises
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market volume and forecast, by region
CHAPTER 6: LETTER OF CREDIT CONFIRMATION MARKET, BY REGION
6.1. Overview
6.1.1. Market size and forecast, by region
6.1.2. Market volume and forecast, by region
6.2. North America
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by L/Cs type
6.2.3. Market volume and forecast, by L/Cs type
6.2.4. Market size and forecast, by end user
6.2.5. Market volume and forecast, by end user
6.2.6. Market revenue analysis, by country
6.2.7. Market volume analysis, by country
6.2.7.1. U.S.
6.2.7.1.1. Market size and forecast, by L/Cs type
6.2.7.1.2. Market volume and forecast, by L/Cs type
6.2.7.1.3. Market size and forecast, by end user
6.2.7.1.4. Market volume and forecast, by end user
6.2.7.2. Canada
6.2.7.2.1. Market size and forecast, by L/Cs type
6.2.7.2.2. Market volume and forecast, by L/Cs type
6.2.7.2.3. Market size and forecast, by end user
6.2.7.2.4. Market volume and forecast, by end user
6.2.7.3. Mexico
6.2.7.3.1. Market size and forecast, by L/Cs type
6.2.7.3.2. Market volume and forecast, by L/Cs type
6.2.7.3.3. Market size and forecast, by end user
6.2.7.3.4. Market volume and forecast, by end user
6.3. Europe
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by L/Cs type
6.3.3. Market volume and forecast, by L/Cs type
6.3.4. Market size and forecast, by end user
6.3.5. Market volume and forecast, by end user
6.3.6. Market revenue analysis, by country
6.3.7. Market volume analysis, by country
6.3.7.1. Germany
6.3.7.1.1. Market size and forecast, by L/Cs type
6.3.7.1.2. Market volume and forecast, by L/Cs type
6.3.7.1.3. Market size and forecast, by end user
6.3.7.1.4. Market volume and forecast, by end user
6.3.7.2. France
6.3.7.2.1. Market size and forecast, by L/Cs type
6.3.7.2.2. Market volume and forecast, by L/Cs type
6.3.7.2.3. Market size and forecast, by end user
6.3.7.2.4. Market volume and forecast, by end user
6.3.7.3. UK
6.3.7.3.1. Market size and forecast, by L/Cs type
6.3.7.3.2. Market volume and forecast, by L/Cs type
6.3.7.3.3. Market size and forecast, by end user
6.3.7.3.4. Market volume and forecast, by end user
6.3.7.4. Italy
6.3.7.4.1. Market size and forecast, by L/Cs type
6.3.7.4.2. Market volume and forecast, by L/Cs type
6.3.7.4.3. Market size and forecast, by end user
6.3.7.4.4. Market volume and forecast, by end user
6.3.7.5. Spain
6.3.7.5.1. Market size and forecast, by L/Cs type
6.3.7.5.2. Market volume and forecast, by L/Cs type
6.3.7.5.3. Market size and forecast, by end user
6.3.7.5.4. Market volume and forecast, by end user
6.3.7.6. Russia
6.3.7.6.1. Market size and forecast, by L/Cs type
6.3.7.6.2. Market volume and forecast, by L/Cs type
6.3.7.6.3. Market size and forecast, by end user
6.3.7.6.4. Market volume and forecast, by end user
6.3.7.7. Rest of Europe
6.3.7.7.1. Market size and forecast, by L/Cs type
6.3.7.7.2. Market volume and forecast, by L/Cs type
6.3.7.7.3. Market size and forecast, by end user
6.3.7.7.4. Market volume and forecast, by end user
6.4. Asia-Pacific
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by L/Cs type
6.4.3. Market volume and forecast, by L/Cs type
6.4.4. Market size and forecast, by end user
6.4.5. Market volume and forecast, by end user
6.4.6. Market revenue analysis, by country
6.4.7. Market volume analysis, by country
6.4.7.1. Japan
6.4.7.1.1. Market size and forecast, by L/Cs type
6.4.7.1.2. Market volume and forecast, by L/Cs type
6.4.7.1.3. Market size and forecast, by end user
6.4.7.1.4. Market volume and forecast, by end user
6.4.7.2. China
6.4.7.2.1. Market size and forecast, by L/Cs type
6.4.7.2.2. Market volume and forecast, by L/Cs type
6.4.7.2.3. Market size and forecast, by end user
6.4.7.2.4. Market volume and forecast, by end user
6.4.7.3. Australia
6.4.7.3.1. Market size and forecast, by L/Cs type
6.4.7.3.2. Market volume and forecast, by L/Cs type
6.4.7.3.3. Market size and forecast, by end user
6.4.7.3.4. Market volume and forecast, by end user
6.4.7.4. India
6.4.7.4.1. Market size and forecast, by L/Cs type
6.4.7.4.2. Market volume and forecast, by L/Cs type
6.4.7.4.3. Market size and forecast, by end user
6.4.7.4.4. Market volume and forecast, by end user
6.4.7.5. South Korea
6.4.7.5.1. Market size and forecast, by L/Cs type
6.4.7.5.2. Market volume and forecast, by L/Cs type
6.4.7.5.3. Market size and forecast, by end user
6.4.7.5.4. Market volume and forecast, by end user
6.4.7.6. Rest of Asia-Pacific
6.4.7.6.1. Market size and forecast, by L/Cs type
6.4.7.6.2. Market volume and forecast, by L/Cs type
6.4.7.6.3. Market size and forecast, by end user
6.4.7.6.4. Market volume and forecast, by end user
6.5. LAMEA
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by L/Cs type
6.5.3. Market volume and forecast, by L/Cs type
6.5.4. Market size and forecast, by end user
6.5.5. Market volume and forecast, by end user
6.5.6. Market revenue analysis, by country
6.5.7. Market volume analysis, by country
6.5.7.1. Brazil
6.5.7.1.1. Market size and forecast, by L/Cs type
6.5.7.1.2. Market volume and forecast, by L/Cs type
6.5.7.1.3. Market size and forecast, by end user
6.5.7.1.4. Market volume and forecast, by end user
6.5.7.2. Turkey
6.5.7.2.1. Market size and forecast, by L/Cs type
6.5.7.2.2. Market volume and forecast, by L/Cs type
6.5.7.2.3. Market size and forecast, by end user
6.5.7.2.4. Market volume and forecast, by end user
6.5.7.3. Saudi Arabia
6.5.7.3.1. Market size and forecast, by L/Cs type
6.5.7.3.2. Market volume and forecast, by L/Cs type
6.5.7.3.3. Market size and forecast, by end user
6.5.7.3.4. Market volume and forecast, by end user
6.5.7.4. South Africa
6.5.7.4.1. Market size and forecast, by L/Cs type
6.5.7.4.2. Market volume and forecast, by L/Cs type
6.5.7.4.3. Market size and forecast, by end user
6.5.7.4.4. Market volume and forecast, by end user
6.5.7.5. Rest of LAMEA
6.5.7.5.1. Market size and forecast, by L/Cs type
6.5.7.5.2. Market volume and forecast, by L/Cs type
6.5.7.5.3. Market size and forecast, by end user
6.5.7.5.4. Market volume and forecast, by end user
CHAPTER 7: COMPANY PROFILES
7.1. BANK OF AMERICA CORPORATION
7.1.1. Company overview
7.1.2. Key Executives
7.1.3. Company snapshot
7.1.4. Product portfolio
7.1.5. Business performance
7.2. CITIGROUP, INC.
7.2.1. Company overview
7.2.2. Key Executives
7.2.3. Company snapshot
7.2.4. Operating business segments
7.2.5. Product portfolio
7.2.6. Business performance
7.3. DBS BANK LTD.
7.3.1. Company overview
7.3.2. Key Executives
7.3.3. Company snapshot
7.3.4. Product portfolio
7.3.5. Business performance
7.4. JPMORGAN CHASE & CO.
7.4.1. Company overview
7.4.2. Key Executives
7.4.3. Company snapshot
7.4.4. Product portfolio
7.4.5. Business performance
7.5. MIZUHO BANK, LTD.
7.5.1. Company overview
7.5.2. Key Executives
7.5.3. Company snapshot
7.5.4. Product portfolio
7.5.6. Business performance
7.6. MUFG BANK, LTD.
7.6.1. Company overview
7.6.2. Key Executives
7.6.3. Company snapshot
7.6.4. Product portfolio
7.7. SCOTIABANK
7.7.1. Company overview
7.7.2. Key Executives
7.7.3. Company snapshot
7.7.4. Product portfolio
7.7.5. Operating business segments
7.7.6. Business performance
7.8. STANDARD CHARTERED
7.8.1. Company overview
7.8.2. Key Executives
7.8.3. Company snapshot
7.8.4. Product portfolio
7.8.5. Operating business segments
7.8.6. Business performance
7.9. SUMITOMO MITSUI BANKING CORPORATION
7.9.1. Company overview
7.9.2. Key Executives
7.9.3. Company snapshot
7.9.4. Product portfolio
7.10. THE PNC FINANCIAL SERVICES GROUP, INC.
7.10.1. Company overview
7.10.2. Key Executives
7.10.3. Company snapshot
7.10.4. Product portfolio
7.10.5. Business performance
List of Tables
TABLE 01. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020-2030 ($MILLION)
TABLE 02. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020-2030 ($MILLION)
TABLE 03. LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR SIGHT L/CS, BY REGION, 2020-2030 ($MILLION)
TABLE 04. LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR SIGHT L/CS, BY REGION, 2020-2030 ($MILLION)
TABLE 05. LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR USANCE L/CS, BY REGION, 2020-2030 ($MILLION)
TABLE 06. LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR USANCE L/CS, BY REGION, 2020-2030 ($MILLION)
TABLE 07. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 08. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 09. LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR SMALL ENTERPRISES, BY REGION, 2020-2030 ($MILLION)
TABLE 10. LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR SMALL ENTERPRISES, BY REGION, 2020-2030 ($MILLION)
TABLE 11. LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR MEDIUM SIZED ENTERPRISES, BY REGION, 2020-2030 ($MILLION)
TABLE 12. LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR MEDIUM SIZED ENTERPRISES, BY REGION, 2020-2030 ($MILLION)
TABLE 13. LETTER OF CREDIT CONFIRMATION MARKET REVENUE FOR LARGE ENTERPRISES, BY REGION, 2020-2030 ($MILLION)
TABLE 14. LETTER OF CREDIT CONFIRMATION MARKET VOLUME FOR LARGE ENTERPRISES, BY REGION, 2020-2030 ($MILLION)
TABLE 15. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY REGION, 2020-2030 ($MILLION)
TABLE 16. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY REGION, 2020-2030 ($MILLION)
TABLE 17. NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 18. NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 19. NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 20. NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 21. NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 22. NORTH AMERICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 23. U.S. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 24. U.S. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 25. U.S. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 26. U.S. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 27. CANADA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 28. CANADA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 29. CANADA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 30. CANADA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 31. MEXICO LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 32. MEXICO LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 33. MEXICO LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 34. MEXICO LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 35. EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 36. EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 37. EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 38. EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 39. EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 40. EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 41. GERMANY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 42. GERMANY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 43. GERMANY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 44. GERMANY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 45. FRANCE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 46. FRANCE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 47. FRANCE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 48. FRANCE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 49. UK LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 50. UK LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 51. UK LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 52. UK LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 53. ITALY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 54. ITALY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 55. ITALY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 56. ITALY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 57. SPAIN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 58. SPAIN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 59. SPAIN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 60. SPAIN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 61. RUSSIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 62. RUSSIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 63. RUSSIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 64. RUSSIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 65. REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 66. REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 67. REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 68. REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 69. ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 70. ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 71. ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 72. ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 73. ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 74. ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 75. JAPAN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 76. JAPAN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 77. JAPAN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 78. JAPAN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 79. CHINA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 80. CHINA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 81. CHINA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 82. CHINA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 83. AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 84. AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 85. AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 86. AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 87. INDIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 88. INDIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 89. INDIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 90. INDIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 91. SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 92. SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 93. SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 94. SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 95. REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 96. REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 97. REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 98. REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 99. LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 100. LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 101. LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 102. LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 103. LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 104. LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 105. BRAZIL LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 106. BRAZIL LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 107. BRAZIL LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 108. BRAZIL LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 109. TURKEY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 110. TURKEY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 111. TURKEY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 112. TURKEY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 113. SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 114. SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 115. SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 116. SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 117. SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 118. SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 119. SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 120. SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 121. REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 122. REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY L/C TYPE, 2020–2030 ($MILLION)
TABLE 123. REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020–2030 ($MILLION)
TABLE 124. REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY END USER, 2020–2030 ($MILLION)
TABLE 125. BANK OF AMERICA CORPORATION: KEY EXECUTIVES
TABLE 126. BANK OF AMERICA CORPORATION: COMPANY SNAPSHOT
TABLE 127. BANK OF AMERICA CORPORATION: PRODUCT PORTFOLIO
TABLE 128. CITIGROUP, INC.: KEY EXECUTIVES
TABLE 129. CITIGROUP, INC.: COMPANY SNAPSHOT
TABLE 130. CITIGROUP, INC.: OPERATING SEGMENTS
TABLE 131. CITIGROUP, INC.: PRODUCT PORTFOLIO
TABLE 132. DBS BANK LTD.: KEY EXECUTIVES
TABLE 133. DBS BANK LTD.: COMPANY SNAPSHOT
TABLE 134. DBS BANK LTD: PRODUCT PORTFOLIO
TABLE 135. JPMORGAN CHASE & CO.: KEY EXECUTIVES
TABLE 136. JPMORGAN CHASE & CO.: COMPANY SNAPSHOT
TABLE 137. JPMORGAN CHASE & CO.: PRODUCT PORTFOLIO
TABLE 138. MIZUHO BANK, LTD.: KEY EXECUTIVES
TABLE 139. MIZUHO BANK, LTD.: COMPANY SNAPSHOT
TABLE 140. MIZUHO BANK, LTD.: PRODUCT PORTFOLIO
TABLE 141. MUFG BANK, LTD.: KEY EXECUTIVES
TABLE 142. MUFG BANK, LTD.: COMPANY SNAPSHOT
TABLE 143. MUFG BANK, LTD.: PRODUCT PORTFOLIO
TABLE 144. SCOTIABANK: KEY EXECUTIVES
TABLE 145. SCOTIABANK: COMPANY SNAPSHOT
TABLE 146. SCOTIABANK: PRODUCT PORTFOLIO
TABLE 147. SCOTIABANK: OPERATING SEGMENTS
TABLE 148. STANDARD CHARTERED: KEY EXECUTIVES
TABLE 149. STANDARD CHARTERED: COMPANY SNAPSHOT
TABLE 150. STANDARD CHARTERED: PRODUCT PORTFOLIO
TABLE 151. STANDARD CHARTERED: OPERATING SEGMENTS
TABLE 152. SUMITOMO MITSUI BANKING CORPORATION: KEY EXECUTIVES
TABLE 153. SUMITOMO MITSUI BANKING CORPORATION: COMPANY SNAPSHOT
TABLE 154. SUMITOMO MITSUI BANKING CORPORATION: PRODUCT PORTFOLIO
TABLE 155. THE PNC FINANCIAL SERVICES GROUP, INC.: KEY EXECUTIVES
TABLE 156. THE PNC FINANCIAL SERVICES GROUP, INC.: COMPANY SNAPSHOT
TABLE 157. THE PNC FINANCIAL SERVICES GROUP, INC.: PRODUCT PORTFOLIO
List of Figures
FIGURE 01. KEY MARKET SEGMENTS
FIGURE 02. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY SEGMENTATION, 2020–2030
FIGURE 03. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY REGION, 2020–2030
FIGURE 04. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY SEGMENTATION 2020–2030
FIGURE 05. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, BY REGION, 2020–2030
FIGURE 06. TOP IMPACTING FACTORS
FIGURE 07. LOW BARGAINING POWER OF SUPPLIERS
FIGURE 08. HIGH BARGAINING POWER OF BUYER
FIGURE 09. MODERATE THREAT OF SUBSTITUTES
FIGURE 10. MODERATE THREAT OF NEW ENTRANTS
FIGURE 11. HIGH COMPETITIVE RIVALRY
FIGURE 12. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY L/C TYPE, 2020–2030
FIGURE 13. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, BY END USER, 2020-2030
FIGURE 14. U.S. LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 15. U.S. LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 16. CANADA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 17. CANADA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 18. MEXICO LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 19. MEXICO LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 20. GERMANY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 21. GERMANY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 22. FRANCE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 23. FRANCE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 24. UK LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 25. UK LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 26. ITALY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 27. ITALY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 28. SPAIN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 29. SPAIN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 30. RUSSIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 31. RUSSIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 32. REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 33. REST OF EUROPE LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 34. JAPAN LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 35. JAPAN LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 36. CHINA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 37. CHINA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 38. AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 39. AUSTRALIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 40. INDIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 41. INDIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 42. SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 43. SOUTH KOREA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 44. REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 45. REST OF ASIA-PACIFIC LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 46. BRAZIL LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 47. BRAZIL LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 48. TURKEY LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 49. TURKEY LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 50. SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 51. SAUDI ARABIA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 52. SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 53. SOUTH AFRICA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 54. REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET REVENUE, 2020-2030 ($MILLION)
FIGURE 55. REST OF LAMEA LETTER OF CREDIT CONFIRMATION MARKET VOLUME, 2020-2030 ($MILLION)
FIGURE 56. BANK OF AMERICA CORPORATION: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 57. BANK OF AMERICA CORPORATION: REVENUE SHARE BY COUNTRIES (2020)
FIGURE 58. CITIGROUP, INC.: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 59. DBS BANK LTD.: NET INCOME, 2018–2020 ($MILLION)
FIGURE 60. DBS BANK LTD.: NET INCOME SHARE BY SEGMENT, 2020 (%)
FIGURE 61. DBS BANK LTD.: NET INCOME SHARE BY REGION, 2020 (%)
FIGURE 62. JPMORGAN CHASE & CO.: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 63. JPMORGAN CHASE & CO.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 64. MIZUHO BANK, LTD.: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 65. SCOTIABANK: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 66. SCOTIABANK: REVENUE SHARE BY SEGMENT (2020)
FIGURE 67. STANDARD CHARTERED: NET SALES, 2018–2020 ($MILLION)
FIGURE 68. STANDARD CHARTERED: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 69. STANDARD CHARTERED: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 70. THE PNC FINANCIAL SERVICES GROUP, INC.: NET REVENUE, 2018–2020 ($MILLION)

Executive Summary

According to the report titled, 'Letter of Credit Confirmation Market by L/C Type and End User: Opportunity Analysis and Industry Forecast, 2020-2027' the global letter of credit confirmation market was valued at $4.30 billion in 2019, and is projected to reach $4.99 billion by 2027, growing at a CAGR of 3.18% from 2020 to 2027.

A letter of credit confirmation is a process of document verifications and validating proof of export against the letter of credit requirements, which is conducted by confirming banks.. These banks add its confirmation to a credit upon the issuing bank’s request. In addition, if the buyer is unable to make payment on the purchase, the seller makes a demand on issuing bank for the payment. Furthermore, rise in demand for customized trade finance solutions globally and regulatory support in growth of strict regulations for secured letter of credit confirmation services are some of the major letter of credit confirmation market trends.

In addition, due to increased global trade and to avoid risk of payments, the importers and exporters are largely implementing protection for their trade documents via letter of credit confirmation services. However, the online letter of involvement of several intermediaries has led to the credit confirmation procedure more prone to fraudulent and cyber attacks such as loss of huge trade amounts and confidential data leakages.. This, as a result, becoming major restraining factors in the letter of credit confirmation market.

On the basis of L/C type, the sight L/Cs segment dominated the letter of credit confirmation industry in 2019 and is projected to maintain its dominance during the forecast period. Sight payment methods are largely used by traders due to it instant and timely payment features in the market. Furthermore, under sight payments, the sellers receives the payment quickly after shipping the goods, thus fueling market growth and are expected to grow at a significant CAGR during the forecast period.

The large enterprises segment accounted for the largest market share in letter of credit confirmation industry in 2019 and is projected to maintain its dominance during the forecast period. The presence of big giants from different industry verticals in foreign trade has led them to be the major adopter of letter of credit confirmation. However, small & medium enterprises segment is expected to exhibit highest growth during the forecasted period.

By region, the global letter of credit confirmation market was dominated by Asia-Pacific in 2019 and is expected to maintain this trend during the forecast period. The significant growth of trade among small & medium enterprises in developing economies, such as India and China are the major factors driving the letter of credit confirmation market growth. The dependency of traders in developing countries on letters of credit services is expected to maintain its dominance during the forecast period.

Key Findings of the Study:

By L/C type, the sight L/Cs segment led the letter of credit confirmation market size in terms of revenue in 2019.
By region, LAMEA is expected to exhibit significant growth during the forecasted period.
By end user, the large enterprises segmented accounted for the highest letter of credit confirmation market share in 2019.
By region, Asia-Pacific generated the highest revenue in 2019.

The key players profiled in the letter of credit confirmation market are Bank of America Corporation, Citigroup, Inc., DBS Bank Ltd, JP Morgan Chase & Co., Mizuho Bank, Ltd., MUFG Bank, Scotiabank, Standard Chartered, Sumitomo Mitsui Banking Corporation, an. The PNC Financial Services Group, Inc.. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Companies Mentioned

  • Bank of America Corporation
  • Citigroup Inc.
  • DBS Bank Ltd.
  • JP Morgan Chase & Co.
  • Mizuho Bank Ltd.
  • MUFG Bank
  • Scotiabank
  • Standard Chartered Sumitomo Mitsui Banking Corporation
  • The PNC Financial Services Group Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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