Global Factoring Market Report 2023: Rising Cross-border Trade Activities are Expected to Propel Growth

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May 25, 2023, 20:45 ET

DUBLIN, May 25, 2023 /PRNewswire/ -- The "Factoring Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global factoring market is expected to grow from $3,336.21 billion in 2022 to $3,610.54 billion in 2023 at a compound annual growth rate (CAGR) of 8.22%. The factoring market is expected to reach $4,799.21 billion in 2027 at a CAGR of 7.37%.

Major players in the factoring market are Advanon AG, Aldermore Group PLC., BNP Paribas S A, Deutsche Leasing AG, Eurobank Factors SA, HSBC Holdings PLC., Mizuho Financial Group, Societe Generale S.A, The Southern Bank Company, Riviera Finance of Texas Inc., ABS Global Factoring AG, American Receivable, Factor Funding Co, Triumph Business Capital, PMF Bancorp, New Century Financial, Charter Capital Invoice Factoring Company, eCapital Corp and Hitachi Capital PLC.

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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.

The main types of factoring are recourse and non-recourse. Recourse factoring refers to a form of accounts receivable financing in which a business sells its accounts receivable to a factor and is typically used by companies that have customers with a long payment cycle, need quick access to cash, and are willing to accept the risk of non-payment. The major categories are international and domestic and commonly used by organizations such as small and medium enterprises, and large operating in transportation, healthcare, construction, manufacturing, and others.

The factoring market research report is one of a series of new reports that provides factoring market statistics, including the factoring industry global market size, regional shares, competitors with a factoring market share, detailed factoring market segments, market trends and opportunities, and any further data you may need to thrive in the factoring industry. This factoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product innovation has emerged as the major trend gaining popularity in the factoring market. Major companies operating in the factoring market are focused on innovative solutions to sustain their position in the market.

For instance, in December 2022, Kyriba, a US-based financial and IT solutions provider company, launched Kyriba Receivables Finance, a technically advanced factoring solution that streamlines the process of factoring invoices and provides an easy-to-use platform to manage payments. The solution provides enhanced visibility into cash flow and makes it easier to monitor and manage customer accounts.

The platform also offers automated payment processing and a secure, real-time dashboard that provides up-to-date information on invoices and payments. Additionally, the solution provides access to a range of financing and credit options to help businesses access capital quickly.

In January 2022, FundThrough, a Canada-based financial technology company acquired BlueVine for an undisclosed amount. With this acquisition, FundThrough aimed to fasten its expansion strategy in the U.S. market, doubling its client base along with extending the largest AI-powered invoice funding platform in North America. Bluevine is a US-based fintech company that provides invoice factoring solutions for small enterprises.

Asia-Pacific was the largest region in the factoring market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the factoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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 and a 13% increase from 2019. Therefore, rising cross-border trade activities are driving the growth of the factoring market.

The factoring market includes revenues earned by entities by sales of factoring services such as recourse reserved factoring, irrevocable recourse factoring, collection method, factoring on payment terms, invoice discount method, and implicit factoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary

2. Factoring Market Characteristics

3. Factoring Market Trends And Strategies

4. Factoring Market - Macro Economic Scenario
4.1. COVID-19 Impact On Factoring Market
4.2. Ukraine-Russia War Impact On Factoring Market
4.3. Impact Of High Inflation On Factoring Market

5. Factoring Market Size And Growth
5.1. Global Factoring Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Factoring Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Factoring Market Segmentation
6.1. Global Factoring Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Recourse
Non-Recourse

6.2. Global Factoring Market, Segmentation By Category, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

International
Domestic

6.3. Global Factoring Market, Segmentation By Organization Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Small And Medium Enterprises
Large Enterprises

6.4. Global Factoring Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Transportation
Healthcare
Construction
Manufacturing
Other Applications

7. Factoring Market Regional And Country Analysis
7.1. Global Factoring Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Factoring Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/65jgud

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