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Factoring Services Market: The Banks Segment to Maintain its Lead Status by 2031

Allied Market Research published a report, titled, Factoring Services Market by Provider (Banks, NBFCs), by Enterprise Size (Large Enterprises, SMEs), by Application (Domestic, International), by Industry Vertical (Construction, Manufacturing, Healthcare, Transportation & Logistics, Energy & Utilities, IT & Telecom, Staffing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global factoring services industry generated $3,271.45 billion in 2021, and is expected to reach $5,872.00 billion by 2031, witnessing a CAGR of 6.1% from 2022 to 2031.

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Drivers, Restraints, and Opportunities

Increase in open account trading opportunities, rise in awareness & understanding of supply chain financing, and surge in need for alternate sources of financing for small & medium enterprises (SMEs) drive the growth of the global factoring services market. However, lack of strict regulatory frameworks for recovering debts and restrictions on foreign currency restrain the market growth. On the other hand, increase in technological advancements such as automated invoices present new opportunities in the coming years.

Covid-19 Pandemic

  • During the initial stages of the Covid-19 pandemic, the factoring services market was impacted negatively as there were disruptions in the supply chain and financial impact on the businesses with economic uncertainty.
  • Investments in factoring service became immensely popular with rise in attention toward data for helping financial institutes determine the future performance and take necessary corrective measures at early stages.
  • The pace of digital transformation surged considerably during the pandemic. The governments of various countries became the top competitors for offering factoring services as they implemented various forgivable programs and zero-cost money.
  • During the post-pandemic period, the IMF survey highlighted that many operations were utilizing financing solutions to facilitate cash flow restrictions. In addition, a staple cash flow financing option was used across many industries.

Scope of the Report:

Report Attribute Details
Revenue forecast in 2031 $5,872.00 billion
Growth rate CAGR of 6.1% from 2022 to 2031
Forecast period 2022 – 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Regional scope North America, Europe, Asia Pacific, Latin America, MEA
Country scope U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia
Key companies profiled Advanon AG, ALAMI Technologies, Aldermore Bank PLC, AwanTunai, Barclays PLC, BNP Paribas, China Construction Bank, Deutsche Factoring Bank, Eurobank, Hitachi Capital (UK) PLC, HSBC Group, ICBC, KUKE Finance JS, Mizuho Financial Group, Inc, Riviera Finance of Texas, Inc, Societe Generale, and The Southern Bank Company Access Table PDF

The Manufacturing Segment to Maintain its Leadership Status During the Forecast Period

Based on industry vertical, the manufacturing segment accounted for the largest market share in 2021, contributing to nearly one-third of the global factoring services market, and is projected to maintain its leadership status during the forecast period. This is due to elimination of issues of manufacturing plant such as shortage of cash flow issues and ability to roll out payments to suppliers, raw materials providers, and expenses without incurring late fees, damaging business credit, or worrying about quitting of employees. However, the healthcare segment is estimated to witness the highest CAGR of 9.3% from 2022 to 2031, owing to patient claim process taking more than two months to process that creates a huge gap in working capital.

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The Banks Segment to Maintain its Lead Status by 2031

Based on provider, the banks segment held the largest market share in 2021, accounting for around four-fifths of the global factoring services market, and is expected to maintain its lead status by 2031. This is due to rise in digitization across the banking sector to fill the current gaps in financial services and surge in efficiency in the banking sector to provide improved customer experience. However, the NBFCs segment is projected to grow at the fastest CAGR of 7.5% from 2022 to 2031, owing to offering of factoring services to businesses with low rate and rapid payment time.

The Large Enterprise Segment to maintain its Lead Position during the Forecast Period

Based on enterprise size, the large enterprise segment contributed to the highest market share in 2021, holding nearly three-fourths of the global factoring services market, and is projected to maintain its lead position during the forecast period. This is due to increase in usage in a number of large enterprises such as education hubs, healthcare companies, and government sector. However, the SMEs segment is estimated to register the highest CAGR of 8.0% from 2022 to 2031. This is attributed to increase in their business reach and cost-effectiveness of factoring services.

Europe to Maintain its Dominance in Terms of Revenue by 2031

Based on region, Europe contributed to the largest market share in 2021, accounting for more than two-thirds of the global factoring services market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to rapid adoption of factoring services in Central and Eastern Europe (CEE) and the strategic importance of receivables funded by the commercial banking sector. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.6% during the forecast period. This is owing to rapid growth of economies with infrastructural and industrial growth in the region.

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Leading Market Players

  • Advanon AG
  • ALAMI Technologies
  • Aldermore Bank
  • AwanTunai
  • Barclays
  • BNP Paribas
  • China Construction Bank
  • Deutsche Factoring Bank
  • Eurobank
  • Hitachi Capital (UK) PLC
  • HSBC group
  • ICBC
  • KUKE Finance JSC
  • Mizuho Financial Group, Inc.
  • Riviera Finance of Texas, Inc.
  • Societe Generale
  • The Southern Bank Company

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the factoring services market analysis from 2022 to 2031 to identify the prevailing factoring services market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the factoring services market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global factoring services market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

  • Industry Vertical
    • Construction
    • Manufacturing
    • Healthcare
    • Transportation & Logistics
    • Energy & Utilities
    • IT & Telecom
    • Staffing
    • Others
  • Provider
    • Banks
    • NBFCs
  • Enterprise Size
    • Large Enterprises
    • SMEs
  • Application
    • Domestic
    • International
  • By Region
    • North America
      • U.S.
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Netherlands
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
      • Singapore
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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