The "Factoring Services Market By Provider, By Enterprise Size, By Application, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the factoring services market was valued at $3,271.45 billion in 2021, and is estimated to reach $5,872.00 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
Factoring is the process of purchasing accounts receivable or invoices from an organization at a discounted price to meet its short-term liquidity needs and to make profit for buyers.
In addition, it refers to debt factoring, invoice financing, asset-based lending, and accounts receivable funding. It is a popular way for companies to fund cash flow by selling invoices to third parties at discounted prices. Moreover, these services are provided by either banks or independent financial services providers. However, it has some of the most common forms of factoring process that includes redemption, non-redemption, disclosure, discourse, domestic, export prepayment, and maturity factoring.
Rise in open account trading opportunities and need for alternate sources of financing for small & medium enterprises (SMEs) to meet immediate business goals are driving the global factoring service market. Moreover, increased awareness and understanding of supply chain financing benefits are boosting the market size.
However, lack of a stringent regulatory framework for debt recovery mechanisms and foreign currency restrictions, and stamp duties are hampering the growth of the market. On the contrary, rise in technological advancements such as automated invoices are expected to offer remunerative opportunities for expansion of the market during the forecast period.
The factoring service market is segmented on the basis of by component, enterprise size, application, industrial vertical and region. On the basis of component, the market is categorized into banks and NBFCs. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs.
On the basis of application, the market is classified into domestic and international. On the basis of industrial vertical, it is classified into construction, manufacturing, healthcare, transportation and logistics, energy and utilities, it and telecom, staffing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
- 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 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 factoring services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Industry Vertical
- Transportation Logistics
- Energy Utilities
- IT Telecom
By Enterprise Size
- Large Enterprises
- North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Advanon AG
- ALAMI Technologies
- Aldermore Bank
- BNP Paribas
- China Construction Bank
- Deutsche Factoring Bank
- Hitachi Capital (UK) PLC
- HSBC group
- KUKE Finance JSC
- Mizuho Financial Group, Inc.
- Riviera Finance of Texas, Inc.
- Societe Generale
- The Southern Bank Company
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