Factoring Services Global Market Report 2024

Description

Factoring services involve financial transactions where a business sells its accounts receivable (invoices) to a third party, known as a factor, at a discounted rate. This enables the selling business to receive immediate cash flow while transferring the responsibility of collecting the receivables to the factor.

The main types of factoring services include recourse and non-recourse factoring. Recourse factoring means the selling business retains responsibility for the repayment of the factored invoices if the buyer fails to pay. Providers of factoring services include banks and non-banking financial institutions, catering to both domestic and international markets. These services find applications across various sectors, including small and medium enterprises (SMEs), large enterprises, and industries such as manufacturing, transport and logistics, information technology, healthcare, construction, and others.

The factoring services market research report is one of a series of new reports from The Business Research Company that provides factoring services market statistics, including factoring services industry global market size, regional shares, competitors with a factoring services market share, detailed factoring services market segments, market trends, and opportunities, and any further data you may need to thrive in the factoring services industry. This factoring services research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The factoring services market size has grown strongly in recent years. It will grow from $3.43 billion in 2023 to $3.70 billion in 2024 at a compound annual growth rate (CAGR) of 8.%. The growth during the historic period can be attributed to several factors, including increasing demand for alternative financing solutions, expanding banking and trading activities, the rising popularity of factoring services as a flexible financing option, growing need for working capital financing alternatives among businesses, and increased international trade activities driving the demand for financial liquidity solutions.

The factoring services market size is expected to see strong growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to several factors, including the increase in cross-border factoring transactions, rapid growth and development of factoring services globally, enhanced utilization of digital platforms for financial transactions, rising volume of cross-border trade activities, and the expanding manufacturing sector's need for working capital solutions. Major trends anticipated during this period include advancements in financial technology, the emergence of new online factoring platforms, exploration of cryptocurrency solutions in financial transactions, increasing adoption of artificial intelligence (AI) for financial services, ongoing technological innovations in the factoring industry, and integration of supply chain finance with factoring to streamline financial operations.

The factoring services market is poised for growth driven by an increase in cross-border trade activities. Cross-border trade involves the exchange of goods and services between residents and non-residents of different countries, spurred by advancements in technology, policy shifts, economic strategies, and market demands. Factoring services play a crucial role in cross-border trade by optimizing cash flow, managing risks, and supporting global expansion through the sale of accounts receivable to third-party factoring companies. For instance, the United Nations Conference on Trade and Development reported in February 2022 that global trade reached a record high of $28.5 trillion, marking a 25% increase from 2020. This surge in cross-border trade activities is a key driver behind the growth of the factoring services market.

Leading companies in the factoring services market are innovating with solutions such as receivables finance to gain competitive advantages. Receivables finance enables businesses to access funds based on their outstanding invoices, enhancing cash flow management and supporting business growth by converting receivables into immediate cash. For example, Kyriba Corp. launched Kyriba Receivables Finance in December 2022, an advanced factoring solution designed to streamline invoice factoring processes. The platform simplifies payment management with automated processing and provides real-time visibility through a secure dashboard, facilitating efficient monitoring of invoices and payments. It also offers businesses access to various financing and credit options, ensuring quick access to capital.

In January 2022, FundThrough Inc. acquired BlueVine to strengthen its embedded finance capabilities, expand its footprint in the U.S., increase funding transactions, and improve cash flow management for small businesses. BlueVine specializes in providing invoice factoring services to small enterprises, enhancing FundThrough's ability to serve a broader client base with comprehensive financing solutions.

Major companies operating in the factoring services market are ICBC China Limited, JPMorgan Chase & Co., Banco Santander S.A., HSBC Holdings plc, Wells Fargo & Company, BNP Paribas SA, Banco do Brasil S.A., ING Groep N.V., Barclays Bank plc, Societe Generale SA, Banco Bilbao Vizcaya Argentaria S.A., Deutsche Bank AG, Sumitomo Mitsui Banking Corporation, UniCredit S.p.A., Standard Chartered plc, KBC Group NV, Commerzbank AG, Banco Popular Espanol S.A., TCI Business Capital Inc., RTS Financial Service Inc., Advanon AG

Europe was the largest region in the factoring services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the factoring services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the factoring services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The factoring services market includes revenues earned by entities by providing discount fees, financing charges, consulting services, charge additional fees, and related invoice discounting, maturity factoring, recourse factoring, and spot factoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Factoring Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on factoring services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for factoring services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The factoring services market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Recourse; Non-Recourse
2) By Provider: Banks; Non-Banking Financial Institutions
3) By Category: Domestic; International
4) By Application: Small And Medium Enterprise (SMEs); Large Enterprise
5) By End-Use: Manufacturing; Transport And Logistics; Information Technology; Healthcare; Construction; Other End-Uses
Companies Mentioned: ICBC China Limited; JPMorgan Chase & Co.; Banco Santander S.A.; HSBC Holdings plc; Wells Fargo & Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r18865

1. Executive Summary

2. Factoring Services Market Characteristics

3. Factoring Services Market Trends And Strategies

4. Factoring Services Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Factoring Services Market Size and Growth

5.1. Global Factoring Services Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Factoring Services Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Factoring Services Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Factoring Services Market Segmentation

6.1. Global Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Recourse
Non-Recourse
6.2. Global Factoring Services Market, Segmentation By Provider, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banks
Non-Banking Financial Institutions
6.3. Global Factoring Services Market, Segmentation By Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Domestic
International
6.4. Global Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small And Medium Enterprise (SMEs)
Large Enterprise
6.5. Global Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Manufacturing
Transport And Logistics
Information Technology
Healthcare
Construction
Other End-Uses

7. Factoring Services Market Regional And Country Analysis

7.1. Global Factoring Services Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Factoring Services Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Factoring Services Market

8.1. Asia-Pacific Factoring Services Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Factoring Services Market

9.1. China Factoring Services Market Overview
9.2. China Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Factoring Services Market

10.1. India Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Factoring Services Market

11.1. Japan Factoring Services Market Overview
11.2. Japan Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Factoring Services Market

12.1. Australia Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Factoring Services Market

13.1. Indonesia Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Factoring Services Market

14.1. South Korea Factoring Services Market Overview
14.2. South Korea Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Factoring Services Market

15.1. Western Europe Factoring Services Market Overview
15.2. Western Europe Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Factoring Services Market

16.1. UK Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Factoring Services Market

17.1. Germany Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Factoring Services Market

18.1. France Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Factoring Services Market

19.1. Italy Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Factoring Services Market

20.1. Spain Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Factoring Services Market

21.1. Eastern Europe Factoring Services Market Overview
21.2. Eastern Europe Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Factoring Services Market

22.1. Russia Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Factoring Services Market

23.1. North America Factoring Services Market Overview
23.2. North America Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Factoring Services Market

24.1. USA Factoring Services Market Overview
24.2. USA Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Factoring Services Market

25.1. Canada Factoring Services Market Overview
25.2. Canada Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Factoring Services Market

26.1. South America Factoring Services Market Overview
26.2. South America Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Factoring Services Market

27.1. Brazil Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Factoring Services Market

28.1. Middle East Factoring Services Market Overview
28.2. Middle East Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Factoring Services Market

29.1. Africa Factoring Services Market Overview
29.2. Africa Factoring Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Factoring Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Factoring Services Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Factoring Services Market Competitive Landscape And Company Profiles

30.1. Factoring Services Market Competitive Landscape
30.2. Factoring Services Market Company Profiles
- 30.2.1. ICBC China Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. JPMorgan Chase & Co.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Banco Santander S.A.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. HSBC Holdings plc
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Wells Fargo & Company
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Factoring Services Market Other Major And Innovative Companies

31.1. BNP Paribas SA
31.2. Banco do Brasil S.A.
31.3. ING Groep N.V.
31.4. Barclays Bank plc
31.5. Societe Generale SA
31.6. Banco Bilbao Vizcaya Argentaria S.A.
31.7. Deutsche Bank AG
31.8. Sumitomo Mitsui Banking Corporation
31.9. UniCredit S.p.A.
31.10. Standard Chartered plc
31.11. KBC Group NV
31.12. Commerzbank AG
31.13. Banco Popular Espanol S.A.
31.14. TCI Business Capital Inc.
31.15. RTS Financial Service Inc.

32. Global Factoring Services Market Competitive Benchmarking

33. Global Factoring Services Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Factoring Services Market

35. Factoring Services Market Future Outlook and Potential Analysis

35.1 Factoring Services Market In 2028 - Countries Offering Most New Opportunities
35.2 Factoring Services Market In 2028 - Segments Offering Most New Opportunities
35.3 Factoring Services Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer