PUBLISHER: The Business Research Company | PRODUCT CODE: 1691941
PUBLISHER: The Business Research Company | PRODUCT CODE: 1691941
Insolvency software refers to specialized tools and applications to assist businesses, financial institutions, and legal professionals in managing insolvency-related processes. These software solutions streamline debt collection, creditor communication, asset valuation, and bankruptcy filing, offering efficiency and compliance benefits.
The main components of insolvency software are solutions and services. Insolvency software solutions refer to specialized software designed to assist businesses, financial institutions, and legal professionals in managing insolvency-related processes. It is used in document management, financial transaction management, reporting, compliance, and creditor management applications of large enterprises, and small and medium enterprises like banking, financial services and insurance (BFSI), energy and utilities, government, information technology (IT) and telecommunication, manufacturing, and retail industries.
The main components of insolvency software are solutions and services. Insolvency software solutions refer to specialized software designed to assist businesses, financial institutions, and legal professionals in managing insolvency-related processes. It is used in document management, financial transaction management, reporting, compliance, and creditor management applications of large enterprises, and small and medium enterprises like banking, financial services and insurance (BFSI), energy and utilities, government, information technology (IT) and telecommunication, manufacturing, and retail industries.
The insolvency software market size has grown rapidly in recent years. It will grow from $2.04 billion in 2024 to $2.25 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to the integration of AI and machine learning, growing importance of forensic accounting, efficiency in creditor communication, legal process automation, and digital transformation in legal practices.
The insolvency software market size is expected to see rapid growth in the next few years. It will grow to $3.47 billion in 2029 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to increasing regulatory compliance demands driving insolvency software market growth, increasing corporate insolvencies, demand for cloud-based solutions, increasing debt levels, and increasing regulatory complexity. Major trends in the forecast period include globalization of businesses, increased collaboration among stakeholders, real-time collaboration tools, adoption of cloud-based solutions, and focus on user experience (UX) design.
The rise in corporate bankruptcies is expected to propel the growth of the insolvency software market going forward. Corporate bankruptcies is when a company faces severe financial distress and cannot meet its financial obligations, leading to legal proceedings for debt resolution. Insolvency software assists companies in navigating the complex process of bankruptcy or insolvency. It streamlines financial data, legal procedures, and communication, facilitating efficient management of insolvency proceedings. This technology ensures transparency, compliance, and timely decision-making, helping businesses undergoing financial challenges navigate the complexities of bankruptcy with greater effectiveness and organization. For instance, according to Epiq, a US-based technology-enabled service provider, total bankruptcy filings reached 36,607 in January 2024, a 17% increase from 31,176 in January 2023. Therefore, the rise in corporate bankruptcies is driving the insolvency software market.
Major companies operating in the insolvency software market are developing innovative products, such as Aryza Insolv, to streamline every stage of the customer journey. Aryza Insolv is an end-to-end insolvency case management software that automates the insolvency process. For instance, in March 2023, Aryza, an Ireland-based software company, launched Aryza Insolv to deliver a global insolvency product that adapts to regional requirements and local legislation. The software is built on Aryza's experience in developing specialist systems, best practices within the insolvency sector, and engagement with insolvency practitioners (IPs). Aryza Insolv offers features such as banking integration, business process automation, compliance, and client portals. The software is secure, compliant, and reliable and can be easily adapted to regional requirements and local legislation.
In June 2023, Aryza Group, an Ireland-based software company that provides insolvency software, partnered with Acquired.com. The partnership between Aryza and Acquired.com aims to deliver a sophisticated range of data-driven collection and disbursement solutions, with plans for expansion into other divisions, such as debt recovery and insolvency. Further, with this collaboration, businesses using Aryza's products can tap into Acquired.com's payment solution to improve their end-to-end processes, including automated disbursements and streamlined payments. The partnership will enhance consumer protection offerings and provide a more customer-focused experience by leveraging Acquired.com's regulatory experience and deep data expertise. Acquired.com is a UK-based company that operates in the business-to-business (B2B) space.
Major companies operating in the insolvency software market are Ernst & Young Global Limited, Wolters Kluwer Corporate And Financial Services, FTI Consulting, Kroll LLC, Epiq Systems Inc., Altisource Portfolio Solutions S.A., ESI Software Inc., Clio Technologies Inc., Dye & Durham, CaseWare International Inc., Stretto Inc., CARET Inc., Aryza Group Limited, Compliance Solutions Strategies, Panther Software LLC, National E-Governance Services Limited, Fastcase Inc., EBR Attridge LLP, STP Informationstechnologie AG, PracticePanther Legal Software, CloudLex Inc., Standard Legal Network Inc., Smokeball Inc., Turnkey Information Publishing Solutions Ltd., Prime Solutions
North America was the largest region in the insolvency software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insolvency software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the insolvency software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The insolvency software market includes revenues earned by entities by providing services such as case management, creditor communication, asset management, data security, training and support, and workflow automation. 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.
Insolvency Software Global Market Report 2025 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 insolvency software 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.
Where is the largest and fastest growing market for insolvency software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The insolvency software 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.