The Factoring by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Factoring Market:
https://www.thebusinessresearchcompany.com/report/factoring-global-market-report
According to The Business Research Company’s Factoring, The factoring market size has grown strongly in recent years. It will grow from $3590.13 billion in 2023 to $3876.8 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in trading activities, rise in the number of small and medium-sized enterprises and rise in need for working capital..
The factoring market size is expected to see strong growth in the next few years. It will grow to $5238.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rise in globalization and cross-border payments, rising government support and growing transportation sector. Major trends in the forecast period include cloud-based factoring platform, incorporation of environmental, social, and governance (esg) and strategic partnerships and collaborations..
The rising cross-border trade activities are expected to propel the growth of the factoring market going forward. Cross-border trade refers to the operations connected to billing, collection, and customer support that the Licensee and any affiliate or related enterprise of the Licensee engage in connection with the import, export, or transit of capacity or power under the conditions of this license. Factoring provides cross-border trade firms with immediate cash flow that can be used to support growth and operations via selling their receivables to another company and allows them to maximize their borrowing capacity and access the resources they need for sustained global competition. For instance, in February 2022, according to the United Nations Conference on Trade and Development (UNCTD), a Switzerland-based intergovernmental organization for world trade, in 2021, the total amount of world trade hit a historic high of $28.5 trillion, which represents a 25% increase from 2020. Therefore, rising cross-border trade activities are driving the growth of the factoring market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=9142&type=smp
The factoring market covered in this report is segmented –
1) By Type: Recourse, Non-Recourse
2) By Organization Size: Small And Medium Enterprises, Large Enterprises
3) By Category: International, Domestic
4) By Application: Transportation, Healthcare, Construction, Manufacturing, Other Applications
Product innovation has emerged as the major trend gaining popularity in the factoring market. Major companies operating in the factoring market are focused on innovative solutions to sustain their position in the market. For instance, in December 2022, Kyriba, a US-based financial and IT solutions provider company, launched Kyriba Receivables Finance, a technically advanced factoring solution that streamlines the process of factoring invoices and provides an easy-to-use platform to manage payments. The solution provides enhanced visibility into cash flow and makes it easier to monitor and manage customer accounts. The platform also offers automated payment processing and a secure, real-time dashboard that provides up-to-date information on invoices and payments. Additionally, the solution provides access to a range of financing and credit options to help businesses access capital quickly.
The factoring market report table of contents includes:
- Executive Summary
- Factoring Market Characteristics
- Factoring Market Trends And Strategies
- Factoring Market - Macro Economic Scenario
- Global Factoring Market Size and Growth
.
.
.
- Global Factoring Market Competitive Benchmarking
- Global Factoring Market Competitive Dashboard
- Key Mergers And Acquisitions In Factoring Market
- Factoring Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Société Générale S.A.
- BNP Paribas
- China Construction Bank Corporation
- Deutsche Bank AG
- HSBC Group
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
