The factoring market size is expected to post a CAGR of over 13% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global factoring market 2018-2022. (Graphic: Business Wire)
The growing need for alternative sources of financing for MSMEs is a key driver for the factoring market growth. Financing is essential for MSMEs for the expansion of business, development of new products, and investment in enhanced inventory management systems and production facilities. While financing can be done through internal or external sources, the limited availability of funds compels these firms to look for external sources of financing such as banks, venture capitalists, factoring, and others. Factoring, in this regard, has emerged as an upcoming source of finance, especially for MSMEs, in both emerging and developed economies.
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As per Technavio, the advent of blockchain in factoring services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Factoring Market: Advent of Blockchain in Factoring Services
Bitcoin is an advanced form of cryptocurrency and popular financial technology. In 2017, it touched new heights in terms of price surge. Blockchain, which is bitcoin’s underlying technology, is driving steep growth, in terms of both value and acceptance in the mainstream payment mode. The technology has the ability to transform the ways in which exchanges, such as the stock market, patent awarding, and factoring, takes place. To underpin its new private share-trading market, the National Association of Securities Dealers Automated Quotations (NASDAQ) has started using blockchain. Thus, the advent of blockchain is identified as one of the key factoring market trends that will drive market growth.
“Growing awareness about supply chain financing, including factoring, and increasing adoption of digital platforms for factoring will have a significant impact on the growth of the factorings market value during the forecast period,” says a senior analyst at Technavio.
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Factoring Market: Segmentation Analysis
This market research report segments the factorings market by factoring (domestic factoring and international factoring) and geography (Americas, APAC, and EMEA).
The EMEA region led the factorings market in 2018, followed by APAC and Americas respectively. The growth of the factorings market share in EMEA is attributed to the increasing stability of economy. The top five markets in EMEA include the UK, France, Germany, Italy, and Spain.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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