Factoring Services Market : Opportunity Analysis and Industry Forecast, 2031 | Advanon AG, ALAMI Technologies, Aldermore Bank, AwanTunai

The global factoring services market size was valued at $3,271.45 billion in 2021, and is projected to reach $5,872.00 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.

Factoring service is a process of collection of receivables and maintains sales ledgers, credit control and credit protection. Furthermore, services are helpful in many ways, such as the need for secure financing, which is subject to strong fluctuations due to seasonal changes in the marketplace. Moreover, businesses involved in logistic and manufacturing services make factoring as an ideal way of financing, as these firms have numerous accounts receivable from other businesses.

Report Sample PDF : https://www.alliedmarketresearch.com/request-sample/17605

The Manufacturing Segment to Maintain its Leadership Status During the Forecast Period

Based on industry vertical, the manufacturing segment accounted for the largest market share in 2021, contributing to nearly one-third of the global factoring services market, and is projected to maintain its leadership status during the forecast period. This is due to elimination of issues of manufacturing plant such as shortage of cash flow issues and ability to roll out payments to suppliers, raw materials providers, and expenses without incurring late fees, damaging business credit, or worrying about quitting of employees. However, the healthcare segment is estimated to witness the highest CAGR of 9.3% from 2022 to 2031, owing to patient claim process taking more than two months to process that creates a huge gap in working capital.

The Banks Segment to Maintain its Lead Status by 2031

Based on provider, the banks segment held the largest market share in 2021, accounting for around four-fifths of the global factoring services market, and is expected to maintain its lead status by 2031. This is due to rise in digitization across the banking sector to fill the current gaps in financial services and surge in efficiency in the banking sector to provide improved customer experience. However, the NBFCs segment is projected to grow at the fastest CAGR of 7.5% from 2022 to 2031, owing to offering of factoring services to businesses with low rate and rapid payment time.

The Large Enterprise Segment to maintain its Lead Position during the Forecast Period

Based on enterprise size, the large enterprise segment contributed to the highest market share in 2021, holding nearly three-fourths of the global factoring services market, and is projected to maintain its lead position during the forecast period. This is due to increase in usage in a number of large enterprises such as education hubs, healthcare companies, and government sector. However, the SMEs segment is estimated to register the highest CAGR of 8.0% from 2022 to 2031. This is attributed to increase in their business reach and cost-effectiveness of factoring services.

Europe to Maintain its Dominance in Terms of Revenue by 2031

Based on region, Europe contributed to the largest market share in 2021, accounting for more than two-thirds of the global factoring services market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to rapid adoption of factoring services in Central and Eastern Europe (CEE) and the strategic importance of receivables funded by the commercial banking sector. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.6% during the forecast period. This is owing to rapid growth of economies with infrastructural and industrial growth in the region.

The key players that operate in the factoring service market are Advanon AG, ALAMI Technologies, Aldermore Bank PLC, AwanTunai, Barclays PLC, BNP Paribas, China Construction Bank, Deutsche Factoring Bank, Eurobank, Hitachi Capital (UK) PLC, HSBC Group, ICBC, KUKE Finance JS, Mizuho Financial Group, Inc, Riviera Finance of Texas, Inc, Societe Generale, and The Southern Bank Company. These players have adopted various strategies to increase their market penetration and strengthen their position in the factoring services industry.

Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/17605

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the factoring services market analysis from 2021 to 2031 to identify the prevailing factoring services 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 factoring services market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global factoring services market outlook.

• 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 factoring services market trends, key players, market segments, application areas, and factoring services market opportunity.

• The study provides an in-depth analysis of the global factoring services market forecast along with current & future trends to explain the imminent investment pockets.

Factoring Services Market Report Highlights

Aspects Details

Industry Vertical
Construction
Manufacturing
Healthcare
Transportation & Logistics
Energy & Utilities
IT & Telecom
Staffing
Others

Provider
Banks
NBFCs

Enterprise Size
Large Enterprises
SMEs

Application
Domestic
International

Want to Access the Statistical Data and Graphs, Key Players' Strategies@ https://www.alliedmarketresearch.com/factoring-services-market/purchase-options

More Reports:
Foreign Exchange Services Market : https://www.alliedmarketresearch.com/foreign-exchange-services-market-A07394

Credit Card Issuance Services Market : https://www.alliedmarketresearch.com/credit-card-issuance-services-market-A31800

Tax Advisory Services Market : https://www.alliedmarketresearch.com/tax-advisory-services-market-A31503

Management Consulting Services Market : https://www.alliedmarketresearch.com/management-consulting-services-market-A19875

Robotic Process Automation (RPA) in Financial Services Market :https://www.alliedmarketresearch.com/robotic-process-automation-rpa-in-financial-services-market-A06933

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" 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 domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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 the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.