NEW YORK, April 22, 2021 /PRNewswire/ --
The loan servicing software market is expected to grow by USD 2.43 billion, progressing at a CAGR of almost 12% during the forecast period.
NEW YORK, April 22, 2021 /PRNewswire/ --
The loan servicing software market is expected to grow by USD 2.43 billion, progressing at a CAGR of almost 12% during the forecast period.
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The rising demand for efficiency in lending operations is one of the major factors driving market growth. However, factors such as the threat from open-source loan servicing software may impede the market growth.
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Loan Servicing Software Market: Deployment Landscape
Based on the deployment, the cloud-based segment saw maximum growth in 2019. Digitization of businesses, expanding geographical presence of financial services companies, and innovations in data security, and the advent of cloud-based offerings are some of the factors driving the growth of the segment. The market growth in the segment will be significant over the forecast period.
Loan Servicing Software Market: Geographic Landscape
By geography, North America is going to have sustainable growth during the forecast period. About 48% of the market's overall growth is expected to originate from North America. The government-supported enterprises offering increased financing for mortgage lenders is one of the key factors driving the growth of the market in North America.
The US and Canada are the key markets for loan servicing software in North America. Market growth in this region will be faster than the growth of the market in APAC.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Deployment
Customer landscape
Geographic Landscape
Vendor Landscape
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