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Factoring Services Market Size is Estimated to Value $5,384.0 Billion By 2027: Grand View Research, Inc

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Factoring Services Market Size is Estimated to Value $5,384.0 Billion By 2027: Grand View Research, Inc

November 18
04:47 2020
Factoring Services Market Size is Estimated to Value $5,384.0 Billion By 2027: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the factoring services market was valued at USD 3,114.42 billion in 2019. It is expected to register a compound annual growth rate (CAGR) of 7.5% from 2020 to 2027.

The global Factoring Services Market size is expected to reach USD 5,384.0 billion by 2027, according to a new study conducted by Grand View Research, Inc. It is projected to register a CAGR of 7.5% over the forecast period. The rapid economic growth in developing economies and the rising demand for factoring as an alternative form of financing are fostering growth. Factor financing has proved to be beneficial in various regions across the globe for Small and Medium Enterprises (SMEs), promoting the entrepreneurial economy and strengthening economic growth. Moreover, the technological enhancement in the form of blockchain adoption and the provision of safe and secured financing services are also expected to propel the market growth over the forecast period.

Fintech businesses are offering factoring services to SMEs and freelancers to ease their financial pressure caused due to delayed payments. Factoring services are likely to become an essential part of supply chain networks owing to the simplification of the services and their financial flexibility. Moreover, there is a rising interest among enterprise owners to seek new and non-conventional means of finance for their companies. The companies and organizations such as Factors Chain International (FCI) are creating awareness among businesses. This alternative form of financing is likely to be adopted and accepted for factoring receivables.

Account receivable financing is becoming more secure owing to several laws. The governments of various countries have developed legal frameworks for the use of electronic invoices. This has helped governments in collecting tax efficiently, providing efficient factoring tools, and reducing frauds. Moreover, governments are also supporting the adoption of the state-of-the-art receivables platform based on new blockchain or Distributed Ledger Technology (DLT). However, factors such as a perception of the high-interest rates, lack of awareness, and cumbersome documentation processes are hindering the demand for factoring services. Banks and financial companies are constantly trying to upgrade their expertise on the technological and operational levels for providing cost-effective services to their customers and boosting the demand for their services.

factoring services market

Request a Sample Copy of the Global Factoring Services Market Research Report @ https://www.grandviewresearch.com/industry-analysis/factoring-services-market/request/rs1

Factoring Services Market Report Highlights

  • The international segment is expected to register the highest CAGR over the forecast period owing to the increasing demand for factoring services from developing nations that focus on increasing their international trade through export and import
  • The non-recourse segment is anticipated to register the highest CAGR over the forecast period. Advantages such as full credit cover offered by the financing company are driving the demand for non-recourse factoring amongst SMEs across the world
  • The non-banking financial institution segment is expected to register the fastest CAGR over the forecast period. The growth of fintech companies and non-banking financial startups, owing to ease of government regulations in some developing countries, is the prime factor propelling the segment growth
  • The healthcare segment is anticipated to register the highest CAGR over the forecast period. The complications of insurance and complex layers of bureaucracies that delay the payment of medical bills of medical companies or professionals are likely to accelerate the demand for factoring in the segment growth
  • Asia Pacific is anticipated to emerge as the fastest-growing regional market owing to the rapid growth of economies vis-à-vis infrastructural and industrial growth in the region. The region comprises two most-populated countries, namely China and India, where the demand for factoring services is higher among SMEs. Moreover, China is the key exporter of electronic components, chemical materials, and many other industrial products

Factoring Services Market size

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Factoring Services Market Segmentation

Grand View Research has segmented the global factoring services market based on category, type, financial institution, end-use, and region:

Factoring Services Category Outlook (Revenue, USD Billion, 2016 – 2027)

  • Domestic
  • International

Factoring Services Type Outlook (Revenue, USD Billion, 2016 – 2027)

  • Recourse
  • Non-recourse

Factoring Services Financial Institution Outlook (Revenue, USD Billion, 2016 – 2027)

  • Banks
  • Non-Banking Financial Institutions

Factoring Services End-use Outlook (Revenue, USD Billion, 2016 – 2027)

  • Manufacturing
  • Transport & Logistics
  • Information Technology
  • Healthcare
  • Construction
  • Others

Factoring Services Regional Outlook (Revenue, USD Billion, 2016 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Chile
  • Middle East & Africa (MEA)

List of Key Players of the Factoring Services Market

  • Barclays Bank PLC
  • BNP Paribas
  • China Construction Bank Corporation
  • Deutsche Factoring Bank
  • Eurobank
  • Hitachi Capital (UK) PLC
  • HSBC Group
  • ICBC China
  • Kuke Finance
  • Mizuho Financial Group, Inc.

Browse Related Reports @

Contract Cleaning Services Market: https://www.grandviewresearch.com/industry-analysis/contract-cleaning-services-market

Cold Chain Packaging Market: https://www.grandviewresearch.com/industry-analysis/cold-chain-packaging-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
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Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/factoring-services-market