(Wireless-NewsWire.Com, January 06, 2023 ) According to Maximize Market Research, Invoice Factoring Market was valued at USD 1.92 Billion in 2021 and is expected to reach USD 4.15 Billion by 2029, exhibiting a CAGR of 10.11 % during the forecast period (2022-2029).
Invoice Factoring Market Scope and Research Methodology
The research methodology used to estimate and forecast the Invoice Factoring Market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the Invoice. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.
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Invoice Factoring Market Overview
Invoice factoring is an excessive way to improve your business’s overall cash flow that occasionally becomes sluggish owing to slow-paying customers. In order to pay your employees, purchase merchandise, and fulfil other financial commitments, a factoring company will purchase your invoices and advance more than 80% of their worth to you.
Invoice Factoring Market Segmentation
· Recourse Factoring
· Non-recourse Factoring
The recourse factoring segment dominated the Invoice Factoring market in 2021, accounting for about a quarter of the global market share.
By Enterprise Size
· Large Enterprises
· Small and Medium-sized Enterprises
By Industry Vertical
· Transportation and Logistics
· Energy and Utilities
· IT and Telecom
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Invoice Factoring Market by Region
· North America
· The Asia Pacific
· The Middle East and Africa
· South America
Geographically, the fastest growth is anticipated in Europe during the anticipated timeframe. The UK, Italy, Germany, Spain, and France account for more than two thirds of the regional market. The growth may be attributed to the strategic importance of receivables financed by commercial banking.
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Invoice Factoring Market Key Competitors:
· Porter Capital
· Barclays Bank UK PLC
· Intuit Inc.
· American Express Company
· Lloyds Bank
Companies that factor invoices provide businesses with the cash they require by buying their unpaid invoices and handling collections. Factoring companies are the best source of funding for businesses with less established credit because they are frequently more concerned with the creditworthiness of a business's clients.
Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:
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