rozersmith021According to IMARC Group’s latest report, titled “Factoring Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global factoring market size reached US$ 3,626.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5,179.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.36% during 2023-2028.
Factoring, also known as debtor financing, refers to the process of purchasing debt from the company at discounted prices to allow profits to the buyer upon settlement. It assists in smoother cash flow and financial planning in a cost-effective way. It also provides helpful information credit that aids businesses in trading better with suppliers. Moreover, as it does not create any liability on the balance sheet, factoring is preferred for trade financing receivables across the globe. At present, the commonly adopted forms of factoring include recourse, non-recourse, disclosed, discourse, import, export, advance, domestic, and maturity factoring.
Request for Sample Report: https://www.imarcgroup.com/factoring-market/requestsample
Market Trends
The rising open account trading opportunities and the increasing need for an alternate source of financing for small and medium enterprises (SMEs) to meet business goals currently represent one of the key factors catalyzing the demand for factoring. In addition, rising technological advancements like automated invoices and the increasing adoption of artificial intelligence (AI) and machine learning (ML) algorithms to enhance automation in banking, financial services and insurance (BFSI) for offering streamlined and personal customer experience is creating a positive market outlook. Furthermore, the increasing application of blockchain technology in factoring to accelerate the process of verifying contractors, granting limits, liability, and analyzing documentation is propelling the market growth.
Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/factoring-market
List of Key Companies Covered in this Market Report:
- Advanon AG
- Aldermore Bank PLC (FirstRand Group)
- Bluevine Capital Inc.
- BNP Paribas S.A. (OTCMKTS: BNPQY)
- Deutsche Leasing AG
- Eurobank Ergasias SA (OTCMKTS: EGFEY)
- HSBC Holdings Plc (NYSE: HSBC)
- Mizuho Financial Group Inc. (NYSE: MFG)
- Société Générale S.A.
- The Southern Banc Company Inc. (OTCMKTS: SRNN)
The report has segmented the market on the basis of type, organization size, application and geography.
Breakup by Type:
- International
- Domestic
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Application:
- Transportation
- Healthcare
- Construction
- Manufacturing
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
Email: [email protected]
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
Follow us on Twitter: @imarcglobal
Linkedin: https://www.linkedin.com/company/imarc-group
