Global Factoring Services Market

Factoring Services Market Size, Share, Growth Analysis, 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), By Region - Industry Forecast 2025-2032

Report ID: SQMIG40G2010 | Region: Global | Published Date: March, 2024
Pages: 207 | Tables: 116 | Figures: 77

Factoring Services Market Competitive Landscape

In order to grow their respective market shares, industry players are concentrating on strategic alliances and mergers & acquisitions that actively interact with both current and potential customers. To acquire a competitive edge in the market, they are also making aggressive investments in cutting-edge technology like distributed ledger & blockchain applications.

For example, HSBC UAE and HSBC India stated in 2021 that they would implement Blockchain technology to allow live financial transactions for trading purposes among Universal Tube & Plastic Industries Ltd. (UAE) & ArcelorMittal Nippon Steel India Private Limited (AM/NS India). The Blockchain-enabled Contour system, that connects to essDOCS' CargoDocs platform, handled the full end-to-end paperless transaction.

Top Player’s Company Profiles

  • Wells Fargo & Company
  • Banco Santander, S.A.
  • BNP Paribas SA
  • Deutsche Bank AG
  • Societe Generale SA
  • UniCredit S.p.A.
  • Mizuho Financial Group, Inc.
  • Commerzbank AG
  • Sumitomo Mitsui Banking Corporation
  • BBVA (Banco Bilbao Vizcaya Argentaria)
  • ING Group N.V.
  • Banco Bradesco S.A.
  • Barclays PLC
  • Standard Chartered PLC
  • KBC Group NV
  • Banco do Brasil S.A.
  • Banco Popular Español S.A.

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Factoring Services Market size was valued at USD 4.18 Trillion in 2023 and is poised to grow from USD 4.62 Trillion in 2024 to USD 10.27 Trillion by 2032, growing at a CAGR of 0.105 during the forecast period (2025-2032).

In order to grow their respective market shares, industry players are concentrating on strategic alliances and mergers & acquisitions that actively interact with both current and potential customers. To acquire a competitive edge in the market, they are also making aggressive investments in cutting-edge technology like distributed ledger & blockchain applications. 'Citigroup Inc.', 'JPMorgan Chase & Co.', 'HSBC Holdings plc', 'Wells Fargo & Company', 'Banco Santander, S.A.', 'BNP Paribas SA', 'Deutsche Bank AG', 'Societe Generale SA', 'UniCredit S.p.A.', 'Mizuho Financial Group, Inc.', 'Commerzbank AG', 'Sumitomo Mitsui Banking Corporation', 'BBVA (Banco Bilbao Vizcaya Argentaria)', 'ING Group N.V.', 'Banco Bradesco S.A.', 'Barclays PLC', 'Standard Chartered PLC', 'KBC Group NV', 'Banco do Brasil S.A.', 'Banco Popular Español S.A.'

Factoring services can support business growth by providing the necessary working capital to fund expansion initiatives, such as increasing inventory, hiring additional staff, or entering new markets. The availability of immediate cash through factoring can accelerate growth opportunities for businesses.

Growing Demand from Small and Medium-Sized Enterprises (Smes): SMEs are increasingly turning to factoring services as a flexible financing option. Factoring provides SMEs with access to immediate cash flow by converting their accounts receivable into working capital. The convenience, speed, and accessibility of factoring services make it an attractive solution for SMEs looking to manage their cash flow and fund their business operations.

Europe retained the majority of the market of over 55% in 2022 as a result of an increased emphasis of transport companies on export business factoring and the introduction of start-ups in factoring services from countries such the U.K., Germany, Italy, Romania, and Sweden. The EU has made major investments in manufacturing, engineering, and small and medium-sized enterprise factoring services, which have greatly enhanced market growth. Using cutting-edge technology like Blockchain, which offers greatly improved data security and smart contract capabilities, several service providers in this field aspire to automate the process. It is one of the main factors promoting market expansion in this area.

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Global Factoring Services Market

Report ID: SQMIG40G2010

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