Technology

Purchase Order Financing Market to Reach $12.9 Billion, Globally, by 2033 at 8.7% CAGR: Allied Market Research

Published

2 weeks ago

September 4, 2024

WILMINGTON, Del., Sept. 4, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Purchase Order Financing Market by Order Size ($100, 000, Above $100 and 000), Supplier Payment Method (Wire Transfer, Cash Against Document and Letter of Credit), and Application (Manufacturer, Wholesaler, Distributor and Import/export Companies): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the purchase order financing market was valued at $5.5 billion in 2023, and is estimated to reach $12.9 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.

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130 – Tables
58 – Charts
200 – Pages

Prime determinants of growth

The global purchase order (PO) financing market is experiencing growth due to several factors such as the necessity for businesses facing cash flow constraints to fulfill large orders, the ability to navigate seasonal demand spikes efficiently, and the opportunity to expand customer bases by leveraging purchase order financing solutions. However, purchase order financing presents an opportunity for businesses to enhance their working capital management, secure funding for growth, and maintain healthy customer and supplier relationships. By providing access to immediate capital to fulfill orders, purchase order financing allows businesses to meet high consumer demands, expand product lines, and enter new markets.

Report coverage & details:

Report Coverage

Details

Forecast Period

2024–2033

Base Year

2023

Market Size in 2023

$5.5 billion

Market Size in 2033

$12.9 billion

CAGR

8.7 %

No. of Pages in Report

200

Segments Covered

Order Size, Supplier Payment Method, Application, and Region

Drivers

• Tight cash flow

• Seasonal demand spikes

• Expanding customer base

Opportunities

• Enabling growth for SMEs

• Increase in adoption by SMEs in developing countries

Restraint

• Short-term funding only

• Not 100% financing

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Segment Highlights

By order size, the $100, 000 segment is gaining traction. The increasing demand from small and medium enterprises (SMEs) for funding to fulfill large customer orders is driving the growth of the $100, 000 order size segment in the purchase order financing market. This threshold of $100, 000 represents a significant order size that many businesses struggle to finance independently, leading them to seek purchase order financing solutions to bridge this gap and capitalize on growth opportunities.

By supplier payment method, wire transfers are growing rapidly owing to the need for secure and efficient transactions in the purchase order financing market. Wire transfers offer a quick and reliable way to transfer funds to suppliers, especially for large orders, ensuring timely payment and smooth order fulfillment.

In addition, by application, the manufacturers segment is experiencing rapid growth in the purchase order financing market due to the need for working capital to cover production costs and fulfill orders. Manufacturers often face cash flow challenges due to the upfront costs associated with production, making purchase order financing a valuable tool to access funds and support their manufacturing operations. This segment benefits from the flexibility and tailored financing options that purchase order financing provides, enabling manufacturers to meet customer demand and expand their production capacity effectively.

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Regional Outlook

Tight cash flow is a major factor, as many small and medium enterprises (SMEs) in North America face monthly cash flow challenges. Purchase order financing provides a solution by funding businesses that lack the necessary capital to fulfill large customer orders. Enabling SME growth is another key driver, as PO financing allows SMEs with limited cash flow or credit history to take on larger orders and grow without incurring significant debt. However, the Asia-Pacific region is seeing increased adoption of purchase order financing, especially among SMEs, due to limited access to traditional financing options. Many small businesses in developing Asian countries face tight cash flow and a lack of working capital to fulfill large orders. PO financing bridges this gap by providing short-term funding to cover supplier costs and enable SMEs to grow.

Players: –

OnDeckTata Capital LimitedSMB CompassStar Funding, Inc.Liquid CapitalKing Trade CapitalExpress Trade Capital, Inc.Trade Finance GlobalCAPSTONEKotak Mahindra Bank Limited

The report provides a detailed analysis of these key players in the global purchase order financing market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Recent Development:

In May 2023, Setscale, a FinTech startup that revolutionized the purchase order financing for small and medium-sized businesses (SMBs), raised $9.5 million in seed funding and secured up to $70 million in debt.In August 2022, Star Funding, Inc. a New York City-based provider of purchase order financing and factoring, announced the completion of a $7, 000, 000 purchase order finance and factoring facility to support a fast-growing supplier of hearing products to Walmart. The publicly traded company was invited to increase its exposure and availability in Walmart stores across the country with branded in-store displays. The company needed a pressing capital injection to satisfy several asset-based financing obligations and working capital to support its in-store role.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the purchase order financing market analysis from 2024 to 2033 to identify the prevailing purchase order financing market opportunities.The market research is offered along with information related to key drivers, restraints, and opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the purchase order financing market segmentation assists to determine the prevailing market opportunities.Major countries in each region are mapped according to their revenue contribution to the global market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.The report includes the analysis of the regional as well as global purchase order financing market trends, key players, market segments, application areas, and market growth strategies.

Purchase Order Financing Market Key Segments:

By Order Size

$100,000Above $100,000

By Supplier Payment Method

Wire TransferCash Against DocumentLetter of Credit

By Application

ManufacturerWholesalerDistributorImport/export Companies

By Region

North America (U.S., Canada)Europe (France, Germany, Italy, Spain, UK, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa)

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Technology

World’s 1st Flashlight Experience Store Kicks Off in Las Vegas

Published

3 hours ago

September 15, 2024

LAS VEGAS, Sept. 15, 2024 /CNW/ — Olight, a brand committed to becoming a global leader in mid-to-high-end flashlights, opened the world’s first flashlight experience store at Fashion Show Las Vegas. On the same day, it hosted a major new product launch event and a fan festival for its loyal customers.

A Retail Revolution

The store adopts an advanced digital retail model that seamlessly integrates online and offline channels. Leveraging cloud computing, big data, IoT, and other cutting-edge technologies, Olight has created a unified system for warehousing, logistics, supply chain management, and retail. This enhances operational efficiency and allows consumers to order online and pick up in-store, offering a more convenient and efficient shopping experience.

“Olight has consistently focused on the U.S. market and achieved outstanding results online. We want our first experience store to not only showcase our products but also serve as a bridge between the online and offline, connecting our brand with our customers,” said Mavis Xiao, CMO of Olight.

New Product Launches

Olight unveiled five new products at the event: Arkfeld Ultra, Baton Turbo, Perun 3, Sphere, and the Arkfeld Pro (Paw Edition). The Arkfeld Ultra uses a new aluminum material, making it one of the toughest and most scratch-resistant flashlights in the world. Olight also used this material to create a special gift for each audience member.

With the release of the Arkfeld Pro (Paw Edition), Olight announced an animal charity project in 13 countries, dedicated to supporting animal welfare for at least two years. For every Arkfeld Pro (Paw Edition) sold, Olight will donate $5 to local animal charities. This initiative aims to raise funds for animal protection and increase social awareness and action.

O-Fan Day: Celebrating the Community

O-Fan Day was a fan festival where Olight expressed its appreciation to the O-Fans, whom Olight believes are the driving force behind the brand’s growth. Olight held a fan award ceremony to recognize fans who have made outstanding contributions to supporting and promoting the brand. Over 200 O-Fans attended the festival, celebrating with Olight’s management, R&D teams, and more.

The Olight Fall Event 2024 was the brand’s most important event of the year. As a brand dedicated to establishing itself as a global leader in flashlights, Olight is bold in breaking the mold. This Fall Event demonstrated Olight’s determination to redefine the flashlight industry through innovation and to promote the development of the entire industry.

About Olight:

Olight is committed to becoming a global leader in mid-to-high-end flashlights and driving the industry forward. Its diverse product range caters to various scenarios, from everyday carry to outdoor adventures, and is available across Europe, the Americas, and beyond.

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SOURCE Olight Group Co.,Ltd

Technology

Canada Invests in Net Zero Atlantic to Create Jobs and Support Clean Energy for Atlantic Canadians

Published

3 hours ago

September 15, 2024

HALIFAX, NS, Sept. 15, 2024 /CNW/ – Canada is developing and rolling out clean energy and clean technologies faster than ever before to create good-paying jobs, attract global investment in our economy, position Canada as the clean energy supplier of choice for our democratic allies and achieve our ambitious climate targets. By moving thoughtfully and strategically, Atlantic Canada is well positioned to drive progress toward a clean electricity grid and seize the enormous economic opportunity presented by the clean economy. Independent experts estimate that Atlantic Canada will see approximately 100,000 new good jobs in clean energy by mid-century.

Today, the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities and Member of Parliament for Central Nova Scotia, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a $9.25-million investment through the Energy Innovation Program for two projects led by Net Zero Atlantic (NZA). These projects aim to develop offshore wind energy and bring forward more clean technologies in the Atlantic region to decarbonize the region’s electricity grid and supply the affordable, reliable and clean energy needed.

Of this funding, $6 million will support the Atlantic Canada Offshore Wind Integration and Transmission Study. In partnership with the Atlantic provinces, NZA is managing the delivery of a comprehensive electricity system integration study that will evaluate how electricity produced from Atlantic Canada’s offshore wind resources can help clean up the regional electricity grid. Secondly, it will identify opportunities to export made-in-Canada renewable electricity and clean hydrogen.

Additionally, $3.25 million will fund the Net Zero Emerging Concepts and Technologies Research Program, which will invest in research and development for new clean technologies and support measures in Atlantic Canada to reduce greenhouse gas emissions and reach emission targets.

Canada is moving quickly to integrate offshore wind power into its expanding energy mix and invest in the technology research that is vital for economic development and environmental sustainability.

Quotes

“In the Atlantic, and in fact across Canada, clean energy is presenting an unparalleled opportunity to deliver affordable and reliable energy while seizing enormous economic opportunities for Canadian workers. A clean grid will underpin economic competitiveness and prosperity moving forward, and Net Zero Atlantic is a great example of the work underway to get there.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

“At the heart of Net Zero Atlantic’s initiatives lies a commitment to innovation and sustainability. By investing in cutting-edge research and fostering the development of new clean technologies, we’re paving the way for Atlantic Canada to achieve its net-zero targets while cultivating sustainable regional economic opportunities.”

The Honourable Sean Fraser
Minister of Housing, Infrastructure and Communities
Member of Parliament for Central Nova Scotia

“Atlantic Canada has the potential to be a key provider of clean energy and clean technologies that both Canada and the world need. Thanks to the supports from Natural Resources Canada, we are laying the foundation for a new energy industry and accelerating the emergence of locally conceived innovations.”

Mr. Alisdair McLean, P.Eng.
Chief Executive Officer, Net Zero Atlantic

Quick Facts

This announcement builds on previous investments made to support NZA’s efforts including:$1.3 million from the Government of Canada to build capacity for mid-depth geothermal energy-based projects in 12 rural Nova Scotia communities and five Mi’kmaq communities.a $1.8 million contribution from Natural Resources Canada to build capacity in rural, Mi’kmaq and other marginalized communities to ensure an inclusive approach to offshore wind development in Nova Scotia.

The Atlantic Canada Offshore Wind Integration and Transmission Study also advances priority work by the Canada-Nova Scotia Regional Energy and Resource Table (NS Regional Table), which was launched in October 2022 as a joint partnership between the federal and provincial governments, in collaboration with Mi’kmaw partners — and with input from key interested parties — to identify and accelerate shared economic priorities for a low-carbon future in the province’s energy and resource sectors.

NZA’s study focuses on ensuring grid readiness for offshore wind, which is a key near-term action identified in the Nova Scotia Regional Energy and Resource Table Framework for Collaboration on the Path to Net Zero (Collaboration Framework).

The Collaboration Framework, which was released on July 30, 2024, identifies marine renewables as one of six areas of economic opportunity to pursue for a low-carbon economy, the other five being hydrogen, clean electricity, critical minerals, the forest bioeconomy and carbon management.

On July 18, 2023, federal ministers and Atlantic premiers agreed to renew the Atlantic Growth Strategy to harness the unique advantages and opportunities of the region through renewed priorities and new targeted pathways to foster prosperity for all Atlantic Canadians.

NRCan’s Energy Innovation Program advances clean energy technologies that will help Canada meet its climate change targets while supporting the transition to a low-carbon economy. It funds research, development and demonstration projects and other related scientific activities.

Associated Links

Nova Scotia Regional Energy and Resource Table – Framework for Collaboration on the Path to Net-Zero Budget 2024 – Attracting Investment for a Net-Zero Economy 2030 Emissions Reduction Plan: Clean Air, Strong Economy Net-zero emissions by 2050 Current investments in research, development and demonstration projects in Canada Smart Renewables and Electrification Pathways program Energy Innovation Program Net Zero Atlantic Clean Technology Investment Tax Credit

SOURCE Natural Resources Canada

Technology

Platform Science to Acquire Trimble’s Global Transportation Telematics Business Units to Drive the Future of Transportation In-Cab Technology

Published

6 hours ago

September 15, 2024

Partnership will Accelerate Global Expansion of Virtual Vehicle

Trimble to Become a Shareholder in Platform Science’s Expanded Business

WESTMINSTER, Colo. and SAN DIEGO, Sept. 15, 2024 /PRNewswire/ — Trimble (NASDAQ: TRMB) and Platform Science announced today they are partnering to transform the transportation industry through a definitive agreement for Platform Science to acquire Trimble’s global transportation telematics business units. As part of this agreement, Trimble will become a shareholder in Platform Science’s expanded business.

The proposed transaction aims to enhance driver experience, fleet safety, efficiency, and compliance by combining two cutting-edge in-cab commercial vehicle ecosystems, which will give customers access to more applications and offerings. Upon closing of the proposed transaction, Trimble’s global transportation telematics customers will continue to enjoy the benefits of their Trimble solutions, with the added flexibility of the Virtual Vehicle platform from Platform Science. Virtual Vehicle-enabled fleets will receive access to the Virtual Vehicle Marketplace, offering hundreds of new and expanded applications, software and solution providers focused on innovating and improving drivers’ quality of life and fleet performance. Platform Science customers will enjoy the added choice of Trimble’s remaining portfolio of transportation solutions which will be available on the Virtual Vehicle platform.

“We believe combining our global transportation telematics portfolio with Platform Science’s will further advance fleet mobility and provide our customers with a broader portfolio of solutions to solve industry problems,” said Rob Painter, president and CEO of Trimble. “Increased collaboration between the new Platform Science business and Trimble’s remaining transportation businesses will enhance our ability to provide positive outcomes for our global customers of commercial mapping, transportation management, freight procurement and visibility solutions. This deal will result in significant synergies along with tremendous opportunities for employees to continue to grow in a more-competitive business.”

“This partnership marks the inflection point for a true platform approach to transportation technology. Now, powered by OEM-native software services, we will deliver unprecedented choice,” said Jack Kennedy, co-founder and CEO of Platform Science. “We are confident choice will expand exponentially as existing providers and new developers now see the opportunity to reach vehicles everywhere with high quality OEM data delivered in a consistent, reliable way. This finally empowers developers to easily address the endemic inefficiencies that have plagued transportation across vehicles globally.”

Transaction Details

Upon the closing of the proposed transaction, Trimble will have a 32.5 percent stake in the newly expanded global Platform Science business and will receive a Platform Science board seat. Trimble joins C.R. England, Cummins, Daimler Truck, PACCAR, Prologis, RyderVentures, and Schneider as a key strategic investor in Platform Science along with financial investors 8VC, Activant Capital, BDT & MSD Partners, Softbank, and NewRoad Capital Partners.

Trimble’s global telematics business units are reported within Trimble’s Transportation & Logistics reporting segment. On a trailing twelve-month basis, the businesses generated approximately $300 million of revenue and approximately $30 million of operating profit. Annualized recurring revenue (ARR) for the businesses was approximately $200 million in the second quarter of 2024. The divestiture is expected to be accretive to Trimble’s organic revenue growth rate, organic ARR growth rate, gross margin and operating profit margin. For definitions of ARR and organic ARR, please see below under “Certain Performance Measures”.

Trimble’s other core transportation business units — Enterprise, Maps, Vusion and Transporeon — are not included in the proposed transaction and will remain part of Trimble’s Transportation & Logistics segment, with a continued focus on priority growth areas following completion of the proposed transaction.

Trimble’s ownership in Platform Science is expected to be accounted for under the cost method of accounting.

Additional slide materials are available at investor.trimble.com/events-and-presentations.

Timing and Approvals

The proposed transaction is expected to close in the first half of 2025, subject to customary closing conditions and regulatory approvals and any delayed closings that may be required in certain foreign jurisdictions.

Certain Performance Measures

Annualized Recurring Revenue: Trimble provides an ARR performance measure in order to provide investors with a supplementary indicator of the value of the Company’s current recurring revenue contracts. ARR represents the estimated annualized value of recurring revenue. ARR is calculated by taking our subscription and maintenance and support for the current quarter and adding the portion of the contract value of all our term licenses attributable to the current quarter, then dividing that sum by the number of days in the quarter and then multiplying that quotient by 365. ARR should be viewed independently of revenue and deferred revenue as it is a performance measure and is not intended to be combined with or to replace either of those items.

Organic Annualized Recurring Revenue: Organic annualized recurring revenue refers to annualized recurring revenue excluding the impacts of (i) foreign currency translation, and (ii) acquisitions and divestitures that closed in the prior 12 months

Advisors

Centerview Partners LLC and Goldman, Sachs & Co. LLC are acting as financial advisors to Trimble, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Trimble.

J.P. Morgan Securities LLC is acting as exclusive financial advisor to Platform Science and Gibson, Dunn & Crutcher LLP, Fenwick & West LLP and Fish & Richardson LLP are acting as legal advisors to Platform Science.

About Trimble

Trimble is transforming the ways people move, build and live. Core technologies in positioning, modeling and data analytics connect the digital and physical worlds to improve our customers’ productivity, quality, safety, transparency and sustainability. For more information about Trimble (NASDAQ: TRMB), visit: www.trimble.com.

About Platform Science

Platform Science is transforming transportation technology by empowering enterprise fleets with a unified, user-friendly technology platform. Platform Science makes it easy to develop, deploy, and manage mobile devices and applications on commercial vehicles, giving fleets an edge in efficiency, flexibility, visibility, and productivity. The customizable platform delivers an unlimited canvas to fleets and developers seeking to innovate and create new solutions as customers’ needs, businesses, and industries evolve. Platform Science was named by Fast Company as one of the World’s Most Innovative Companies and has twice been ranked #2 in the FreightTech 25 Awards by industry news leader FreightWaves. For more information, please visit www.platformscience.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the proposed transaction and the timing thereof, the value and benefits to Trimble of its equity stake in Platform Science and the commercial agreements to be entered into in connection therewith, and the development of technology, delivery of services and the business performance of each of Trimble and Platform Science following the transaction. These forward-looking statements are subject to change, and actual results may materially differ from those set forth in this news release due to certain risks and uncertainties. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to (i) the failure to realize the anticipated benefits of the proposed transaction, (ii) that the closing of the proposed transaction is subject to conditions which may not be satisfied or may take longer to be satisfied than expected, including the failure to obtain governmental or regulatory approval that may be required for the proposed transaction, or that, if such approval is obtained, the approval is obtained subject to unexpected conditions, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement relating to the proposed transaction, (iv) the effect of the announcement, pendency or completion of the proposed transaction on the ability of the parties to retain customers and retain and hire key personnel and maintain relationships with their counterparties, and on their operating results and businesses generally, (v) matters related to the proposed transaction diverting management’s attention from other ongoing business operations, (vi) unanticipated risks, costs or difficulties in separating Trimble’s global transportation telematics business, (vii) that the benefits from the anticipated commercial agreements with Platform Science will be dependent upon its performance following the closing of the proposed transaction, and (vii) the failure to realize the anticipated benefits of Trimble’s equity stake in Platform Science. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements set forth in reports filed with the SEC, including Trimble’s current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K, such as statements regarding changes in economic conditions and the impact of competition. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect Trimble’s position as of the date of this news release. Trimble expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in Trimble’s expectations or any change of events, conditions, or circumstances on which any such statement is based.

FTRMB

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SOURCE Trimble