DUBLIN–(BUSINESS WIRE)–The “Factoring Services Market Size, Share & Trends Analysis Report by Category (Domestic, International), by Type (Recourse, Non-recourse), by Financial Institution, by End Use, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global factoring services market size is expected to reach USD 7,005.90 billion by 2030, registering a CAGR of 8.8% from 2022 to 2030. The market growth can be attributed to the increasing open trade accounts and cross-border businesses. The expansion of the manufacturing industry in Asian countries and the growing need among startups and SMEs for an alternate source of finance are further driving the market growth.
Technologies such as blockchain are widely implemented in the financing process to reduce operational costs and enhance security. For instance, Tallysticks, an international trade solution firm, uses blockchain technology to offer advanced data security and complete transparency throughout the factoring process. The firm offers an easy automated invoice financing process with a strong credit reporting system.
Factoring services can be customized based on various requirements of the clients to fit their unique business needs. Unlike bank loans, these services are based on the current value of the sales ledger rather than historic management information. Moreover, they do not result in an increased liability as they are a transaction of sale and not a loan. As a result, they are becoming a popular choice among businesses.
Meanwhile, factors such as archaic regulations, foreign currency restrictions, and stamp duties are likely to hamper the market growth. However, the increasing focus of regulators on data management and extensive adoption of real-time payments networks are expected to help reduce complexities in trade finance. The increased demand for drafting proper laws to govern financial transactions, such as the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Secured Transactions, is also expected to boost market growth over the coming years.
Factoring Services Market Report Highlights
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Factoring Services Industry Outlook
Chapter 4 Factoring Services Market: Category Segment Analysis
Chapter 5 Factoring Services Market: Type Segment Analysis
Chapter 6 Factoring Services Market: Financial Institution Segment Analysis
Chapter 7 Factoring Services Market: End-Use Segment Analysis
Chapter 8 Factoring Services Market: Region Segment Analysis
Chapter 9 Competitive Analysis
Chapter 10 Competitive Landscape
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/nhukc8
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