Factoring Services Market (By Category- Domestic, and International. By Type- Recourse, and Non-recourse. By Financial Institution- Banks, and Non-Banking Financial Institutions. By End-Use- Manufacturing, Transport & Logistics, Information Technology, Healthcare, Construction, and Others. By Geography-North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global industry analysis, size, share, growth, trends, and forecast, 2021 - 2031. Post-Covid Analysis

The Global Factoring Services Market was valued at $3.4 Trillion in 2020. Growing at a high CAGR of more than 9.4% between 2021 and 2031, it is estimated to reach $8.6 Trillion by 2031. However, the outbreak of COVID-19 might make a slight difference in the growth rate in the present year. The fast economic growth in the developing economies and the increasing demand for factoring as a substitute form of financing fosters growth. Factor financing service has proved beneficial in several regions across the globe for Medium and Small Enterprises (MSEs), strengthening economic growth and promoting the entrepreneurial economy. Apart from that, the provision of safe and secured financing services and the technological enhancement in blockchain adoption is also expected to propel the market growth over the forecast period. Now, moving forward, the robust demand for the Factoring Services Market in the supporting financial department is further estimated to create new necessities and augment the market of growth over the forecast period of 2021-2031. 

Global Factoring Services Segment Is Estimated to Witness Remarkable Growth

Source: SAI Research

The Factoring Services market is segmented as a category, type, financial institution, and end-use. Based on the category, the global factoring services market is divided into Domestic and International. Based on type, the global factoring services market has been bifurcated as Recourse and Non-recourse. Based on financial institutions, the global factoring services market has been classified as Banks and Non-Banking Financial Institutions. Based on end-use, the global factoring services market has been bifurcated as Manufacturing, Transport & Logistics, Information Technology, Healthcare, Construction, and Others.

By Region, Europe is Holding the Major Market Share

The Factoring Services Market has been geographically segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, Europe has a significant share among those regions. The regional market comprises developing nations whose development rate is faster than most of the developing countries in the world. The availability of advanced technology, experienced and skilled employees, and increasing demand for factoring services are the prime factors for the market growth over the region. However, the existing trade within the European economic zone and its increasing trade with a rapidly growing market in the eastern countries are other factors for market growth. Apart from that, the Asia Pacific and Europe are expected to increase the growth rate in the upcoming forecast period of 2021 to 2031. 

Major Players in the Global Factoring Services Market

The report covers a detailed outlook about the company, and it includes the company or industry profiles and market share of key players operating in the global market. Key players in the report include Barclays Bank PLC, BNP Paribas, China Construction Bank Corporation, Deutsche Factoring Bank, Eurobank, Hitachi Capital (UK) PLC, HSBC Group, ICBC China, Kuke Finance., Mizuho Financial Group, Inc., Riviera Finance of Texas Inc., Advanon AG, Aldermore Bank Plc, Societe Generale SA, and the Southern Banc Co. Inc. among others.

The Global Factoring Services Market Has Been Segmented into:

Global Factoring Services Market: By Category

• Domestic
• International

Global Factoring Services Market: By Type

• Recourse
• Non-recourse

Global Factoring Services Market: By Financial Institution

• Banks
• Non-Banking Financial Institutions

Global Factoring Services Market: By End-Use

• Manufacturing
• Transport & Logistics
• Information Technology
• Healthcare
• Construction
• Others

Global Factoring Services Market: By Region

• North America
  • USA
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America, Middle East & Africa
  • Brazil
  • South Africa
  • UAE
  • Rest of LAMEA