Factoring Services Market 2022 Latest Industry Trends, Volume Analysis And Demand Forecast 2030

Factoring Services Market Growth & Trends

 The global factoring services market size is expected to reach USD 7,005.90 billion by 2030 and is set to expand at 9.2% CAGR  from 2023 to 2030, according to a new report by Grand View Research, Inc. The remarkable growth can be attributed to the rise in open account trading and cross-border business, and the expansion of the manufacturing industry in Asian countries such as China and India is expected to boost the growth of this market.

 The need of startups and Small & Medium Enterprises (SMEs) for an alternative source of finance propels the demand in this market. Additionally, the implementation of technological advancements such as blockchain and distributed ledger will improve the overall supply chain process by reducing operational costs and enhancing security across the system.

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A rise in demand for factoring services can be seen due to its ability to offer immense flexibility via customization depending upon the client’s requirement. This is in contrast to conventional financial products such as bank loans. The factoring services are based on the current value of the sales ledger and not on historic management information. Factoring does not increase liability, as it is a transaction of sale and not a loan.

A few factors, including archaic regulations, foreign currency restrictions, continued usage of stamp duty tax, and traditional laws restricting the right of assignment, might slow down the growth for a short period. However, several service providers are in the process to deploy the latest technologies to overcome such problems. The factoring services providers such as Eurobank, Société Générale S.A., REV Capital, and Tradewind Finance are adopting various business strategies to improve their services portfolio to attract potential business clients.

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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, 2018 – 2030)

·         Domestic

·         International

Factoring Services Type Outlook (Revenue, USD Billion, 2018 – 2030)

·         Recourse

·         Non-recourse

Factoring Services Financial Institution Outlook (Revenue, USD Billion, 2018 – 2030)

·         Banks

·         Non-banking Financial Institutions

Factoring Services End-use Outlook (Revenue, USD Billion, 2018 – 2030)

·         Manufacturing

·         Transport & Logistics

·         Information Technology

·         Healthcare

·         Construction

List of Key Players in the Factoring Services Market

·         Barclays Bank PLC

·         BNP Paribas

·         China Construction Bank Corporation

·         Deutsche Factoring Bank

·         Eurobank

·         Hitachi Capital (UK) PLC

·         HSBC Group

·         ICBC Group

·         Kuke Finance

·         Mizuho Financial Group, Inc.

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 Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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