FACTORING SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Factoring Services Market, By Application (Domestic and International), By Enterprise Size (Large Enterprises and SMEs), By Provider (Banks and NBFCs), By Industry Vertical (Construction, Manufacturing, Healthcare, Transportation & Logistics, Energy & Utilities, IT & Telecom, Staffing, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : May 2024
Code : CMI7022
Pages :145
Formats :
Excel and PDF
Industry : Information and Communication Technology

Market Challenges: Higher interest rates for factoring

The industry is highly competitive with many companies offering similar services. Maintaining strong client relationships and keeping default rates low is crucial for retaining business but can be difficult to do at scale. Economic uncertainty makes forecasting client cash flows an inexact science. Adding new clients also presents risks as their creditworthiness and payment histories must be thoroughly evaluated. Younger firms may struggle to gain brand recognition and trust compared to larger, more established players.

Market Opportunities: Emergence of new online factoring platforms

As global trade increases in volume and complexity, more businesses will seek financing options for their accounts receivable. Invoice fraud is a growing problem that factoring can help remedy through its verification processes. Expanding into new industry verticals or international markets allows companies to diversify their client bases.

Factoring Services Market Report Snapshots