Overview and Scope
Factoring refers to a type of finance in which a company sells its accounts receivable (invoices) to a third party to meet short-term liquidity requirements.
Sizing and Forecast
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..
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the factoring market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the factoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the factoring market report are Société Générale S.A., BNP Paribas, China Construction Bank Corporation, Deutsche Bank AG, HSBC Group,Barclays Bank PLC, Jp Morgan Chase, Mizuho Financial Group, Inc., Wells Fargo & Company, Eurobank, one PMF Capital, Sheng Ye Capital, Velotrade, India Factoring and Finance Solutions Pvt. Ltd., Freightnet, Tim Finance, Business Capital Financial Group, Work Capital, Cash flow Finance, IDS, Oceana, Globalia Conseil, Credit Agricole, Bibby Factor France, PMF, Finiata, Kurn Rechtsanwälte, Eurofactor Credit, Arvato Financial Solutions, CRX Markets, Unicredit Bank, SberFactoring, EXIMBANK, Finora Bank, VTB Factoring LLC, TAM Finans, Ifis Finance I.F.N, Instant Factoring, Otp Factoring SRL, SME Banking Club, DSA Factors, REV Capital, Rosenthal & Rosenthal, Inc., The Southern Bank Company, American Receivable, Factor Funding Co, Banco do Brasil S.A., Caixa Econômica Federal, Santander Brasil, Factors Chain International Argentina (FCI Argentina), Fintech Floid, Supervielle Factoring, Dar Al Tawreeq, Reem Finance PJSC, iFund Factoring Forfaiting Services, Saudi Real Estate Refinance Company, Lendo, Asyaf Investments, ING Factoring, Halperin Consulting Group, Platinum Financing Group, Afreximbank, FirstRand Bank, Stanbic Bank, NMB Bank
The factoring market report table of contents includes:
1. Executive Summary
2. Factoring Market Characteristics
3. Factoring Market Trends And Strategies
4. Factoring Market – Macro Economic Scenario
5. Global Factoring Market Size and Growth
………..
32. Global Factoring Market Competitive Benchmarking
33. Global Factoring Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Factoring Market
35. Factoring Market Future Outlook and Potential Analysis
36. Appendix
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