Debt Collection Software Market in Europe by 2025 detailed in new research report

Rising need to control, manage, and automate all debt collection & recovery processes, need to reduce bad debt and improve the cash flow while optimizing collection costs and rise in omnichannel collection efforts majorly contribute towards the growth of the market. However, high implementation and integration cost and difficulty to track and reconcile accounts hamper Europe debt collection software market growth.

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The Netherland is expected to grow at the highest CAGR during the forecast period, as 70% of wholesale and retail industry face intentional late payment in the Netherlands. Moreover, adoption of debt collection software has increased in these sectors, as they are well-protected against poor payment performance and use debt collection software as precautions.

The Europe debt collection software market was valued at $794 million in 2016, and is projected to reach $1,784 million by 2025, growing at a CAGR of 9.6% from 2018 to 2025.

Based on the component, the service segment dominated the market in 2016 and is expected to continue this trend during the forecast period. Also, the segment is expected to grow at the highest CAGR during the forecast period, owing to the surge in demand for a software-as-a-service model, owing to the adoption of cloud-based technologies to minimize the investments cost and increase the scalability

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On the basis of deployment type, the Europe debt collection software market was led by on-premise in 2016, owing to better maintenance of servers and continuous system security checks facilitate the implementation of on-premise security solutions. However, the Cloud-based debt collection software is expected to witness the highest growth, owing to its increasing adoption among large enterprises and SMEs to reduce infrastructure investment.

Top key players:

Concent AS, Codix S.A., Advantage Software Factory, EXUS, Altitude Software Solutions, QUALCo, Atradius Collections, Experian Information Solutions Inc., Scorto Inc., Aptic, Ferber-Software GmbH, Onguard, TIETO, and BS Software GmbH.

Debt Collection Software Market in Europe: https://www.alliedmarketresearch.com/press-release/europe-debt-collection-software-market.html

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