The Factoring Global Market Report 2023, provides comprehensive information on the factoring market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global factoring market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global factoring market size is expected to reach $4,799.21 billion in 2027 at a CAGR of 7.37%.
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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.
The factoring market is segmented:
1) By Type: Recourse, Non-Recourse
2) By Category: International, Domestic
3) By Organization Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Transportation, Healthcare, Construction, Manufacturing, Other Applications
Asia-Pacific was the largest region in the factoring market in 2022.
The table of contents in TBRC’s factoring market report includes:
1. Executive Summary
2. Factoring Market Characteristics
3. Factoring Market Trends And Strategies
4. Factoring Market – Macro Economic Scenario
5. Factoring Market Size And Growth
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26. Africa Factoring Market
27. Factoring Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Factoring Market
29. Factoring Market Future Outlook and Potential Analysis
30. Appendix
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