The invoice factoring global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Invoice Factoring Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The invoice factoring market size has grown rapidly in recent years. It will grow from $2,785.89 billion in 2023 to $3,094.16 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to the rising fintech solution adoption rate among small and medium-sized enterprises (SMEs), increasing network security, increasing trade with quickly expanding markets, and increasing open account trading.
The invoice factoring market size is expected to see rapid growth in the next few years. It will grow to $4,801.36 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to the increase in entrepreneurial endeavors, growth of e-commerce and online marketplaces, increasing demand for factory services, increasing network security, and increasing demand for alternative sources of financing for micro, small, and medium enterprises (MSMEs). Major trends in the forecast period include technological advancements, blockchain integration, product innovations, innovative contract capabilities, and integration of artificial intelligence (AI) and machine learning (ML).
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Scope Of Invoice Factoring Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Invoice Factoring Market Overview
Market Drivers –
The increasing demand for fintech solutions is expected to propel the growth of invoice factoring forward. Fintech solutions refer to the application of innovative technologies to enhance and streamline traditional financial services and processes. The increasing fintech solution is due to factors such as changing customer expectations, digital connectivity, dissatisfaction with traditional financial services, and unbundling of financial services. Invoice factoring supports the expansion and innovation of fintech solutions by enhancing cash flow management, integrating advanced technology, diversifying financial services, improving accessibility, streamlining processes, and promoting market growth. For instance, in November 2023, according to the International Financial Trade Administration, a US-based government agency, the FinTech sector in the UK is comprised of over 1,600 firms, a number that is projected to double by 2030. Therefore, the increase in popularity of fintech solutions is driving the growth of the invoice factoring market.
Market Trends –
Major companies operating in the invoice factoring market are focused on developing advanced solutions, such as web-based invoice financing, to offer more flexible, user-friendly platforms for businesses to manage their receivables, improve cash flow, and reduce administrative overhead. A web-based invoice financing solution is a digital platform that allows businesses to obtain financing by leveraging their outstanding invoices, thereby improving cash flow by providing immediate access to funds based on the amounts due from their customers. For instance, in July 2024, the State Bank of India (SBI), an India-based company, launched a Web-Based Invoice Financing Solution. A web-based invoice financing solution streamlines the borrowing process, making it accessible and efficient for businesses looking to leverage their accounts receivable for immediate cash flow needs. SBI aims to address small businesses’ liquidity challenges, which often need help accessing formal credit. This initiative is particularly relevant given that many of India’s microbusinesses and small and midsize enterprises (SMEs) need more access to financial resources.
The invoice factoring market covered in this report is segmented –
1) By Type: Recourse Factoring, Non-Recourse Factoring
2) By Provider: Banks, Non-Banking Financial Companies (NBFCs)
3) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises
4) By Application: Domestic, International
5) By Industry: Construction, Manufacturing, Healthcare, Transportation And Logistics, Energy And Utilities, Information Technology (IT) And Telecom, Staffing, Other Industries
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Regional Insights –
Europe was the largest region in the invoice factoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the invoice factoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the invoice factoring market are Industrial and Commercial Bank of China Limited (ICBC), Adobe Inc., Intuit Inc., Lloyds Bank Corporate Markets PLC, American Express Company, Accord Financial Corporation, eCapital Corporation, Fundbox Inc., Riviera Finance LLC, Sonovate Limited, TBS Factoring Service LLC, Porter Capital Corporation, Barclays Bank UK PLC, Triumph Financial Inc., Nav Technologies Inc., Eagle Business Credit LLC, Breakout Capital Finance Holdings Inc., Invoiced Inc., Paragon Financial Group Inc., Velotrade Management Limited< /b>
Table of Contents
1. Executive Summary
2. Invoice Factoring Market Report Structure
3. Invoice Factoring Market Trends And Strategies
4. Invoice Factoring Market – Macro Economic Scenario
5. Invoice Factoring Market Size And Growth
…..
27. Invoice Factoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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