Factoring Market Overview 2023-2027: Market Size, Emerging Trends, And Major Drivers – By The Business Research Company


The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Sept. 19, 2023 /PRNewswire/ — As per The Business Research Company Factoring Global Market Report 2023, the global factoring market is poised for remarkable growth, with expectations to surge from $3,336.21 billion in 2022 to $3,610.54 billion in 2023, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.22%. Projections further indicate a flourishing market, with an estimated value of $4,799.21 billion by 2027, driven by a steady CAGR of 7.37%.

Driving Forces

The factoring market’s upward trajectory is underpinned by several key factors. Increasing globalization and cross-border payments, alongside rising government support and a burgeoning transportation sector, are pivotal drivers of this growth.

The AI Revolution

An emerging trend within the factoring market is the adoption of Artificial Intelligence (AI). Leading factoring firms are increasingly integrating AI to automate repetitive tasks, enhance their product offerings, and bolster security. AI’s capabilities include fraud detection, mitigating losses, and improving overall operational efficiency. For instance, FactorFox Software launched FactorFox Mobile Optical Character Recognition (OCR), an AI-powered factoring application, to streamline invoice processing, reducing documentation time and expediting funding.

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Market Segmentation

The global factoring market is segmented based on type (Recourse, Non-Recourse), category (International, Domestic), organization size (Small and Medium Enterprises, Large Enterprises), and application (Transportation, Healthcare, Construction, Manufacturing, and Others). The non-recourse segment presents substantial opportunities, with a projected annual sales value of $1,532.28 billion by 2027.

Regional Dominance

Western Europe dominated the factoring market, boasting a value of $2,752.13 billion in 2022, equivalent to 13.55% of the region’s GDP. Notably, per capita consumption in this market stood at $6,473.57, significantly higher than the global average, driven by increased awareness of supply chain financing benefits and surging mergers and acquisitions. For instance, Factris, a Netherlands-based online lending platform, acquired Payfix for €5 million, enhancing its invoice financing services and expanding its portfolio.

The global factoring market is evolving rapidly, offering promising opportunities for businesses across sectors. This market report provides comprehensive insights and serves as an invaluable resource for organizations aiming to navigate this dynamic and expanding landscape.

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In a rapidly evolving global economy, the Factoring Global Market Report 2023 illuminates the path forward for businesses. This report offers vital insights into a dynamic landscape driven by globalization, AI adoption, and government support. For businesses seeking growth opportunities and competitive advantages, this factoring market report is an indispensable tool. It provides the knowledge needed to navigate the factoring market, leverage emerging trends, and make informed decisions. Harnessing the potential of this multi-trillion-dollar industry, businesses can optimize their strategies and thrive in the evolving world of finance and commerce.

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