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on March 19, 2024
The latest report by IMARC Group, titled “Factoring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032“, offers a comprehensive analysis of the industry, which comprises insights on the global factoring market share. The global market size reached US$ 3,857.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6,365.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
Factoring, a financial solution increasingly utilized in the business realm, offers significant benefits such as working capital relief and improved cash flow efficiency. This process entails a business selling its accounts receivable, typically in the form of invoices, to a third-party financial institution referred to as a factor. In exchange, the factor promptly advances a substantial portion of the invoice's value to the business, often within a timeframe of 24 to 48 hours. Subsequently, the factor assumes responsibility for collecting payments from the business's clients. This transaction grants companies immediate access to necessary funds, empowering them to address urgent operational needs like inventory replenishment, payroll obligations, and expansion endeavors, without the constraint of waiting for customer payments.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/factoring-market/requestsample
Factoring Market Trends and Drivers:
The global factoring market has experienced remarkable growth, driven largely by the surge in small and medium-sized enterprises (SMEs) seeking flexible financing options. SMEs are increasingly turning to factoring as a practical means to bridge cash flow gaps, as traditional bank lending often comes with stringent criteria and delays. Factoring provides these businesses with quick access to liquidity, empowering them to meet day-to-day expenses and seize growth opportunities. Besides, factoring has emerged as a vital tool in facilitating international trade transactions. With globalization shaping modern business practices, cross-border trade is on the rise. In this context, factoring plays a pivotal role in mitigating risks associated with foreign buyers and complex trade agreements. As exporters and importers seek secure and efficient payment solutions, factoring offers them a means to ensure prompt payment while minimizing exposure to currency fluctuations and trade-related uncertainties.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- International
- Domestic
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Application:
- Transportation
- Healthcare
- Construction
- Manufacturing
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- CreditGate24 (Schweiz) AG
- Aldermore Bank PLC (FirstRand Group)
- Bluevine Capital Inc.
- BNP Paribas S.A.
- Deutsche Leasing AG (Deutsche Sparkassen Leasing AG & Co. KG)
- Eurobank Ergasias SA
- HSBC Holdings Plc
- Mizuho Financial Group Inc.
- Société Générale S.A.
- The Southern Bank Company Inc.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
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Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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Topics:
factoring market