What is Credit Rating Software?
Credit rating software allows banks or financial institutions to define and validate the creditability of an individual or organization based on their previous transactions. The emerging trend of digital lending in the banking industry to ease the loan issuing process and provide an enhanced experience to their customers will accelerate the adoption of credit rating software. The software helps to automate the credit rating process and gain insights that loans or credit cards can be provided or not to a particular person or company.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Softlabs Group (India), Loxon Solutions (Hungary), ACTICO GmbH (Germany), Abrigo (United States), Fitch Ratings Inc. (United States), Moody's Corporation (United States), AccelOne (United States), Pegasystems (United States), Soft4Leasing (Lithuania), Risika A/S (Denmark), Cedacri (Italy) and DiCOM Software LLC (United States) |
CAGR | % |
The market study is broken down and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Credit Rating Software market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Softlabs Group (India), Loxon Solutions (Hungary), ACTICO GmbH (Germany), Abrigo (United States), Fitch Ratings Inc. (United States), Moody's Corporation (United States), AccelOne (United States), Pegasystems (United States), Soft4Leasing (Lithuania), Risika A/S (Denmark), Cedacri (Italy) and DiCOM Software LLC (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Credit Rating Software market by Type, Application and Region.
On the basis of geography, the market of Credit Rating Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Investment Bankers will boost the Credit Rating Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Windows will boost the Credit Rating Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Credit Rating Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Model, the sub-segment i.e. Subscription-based will boost the Credit Rating Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- The Use of Innovative Blockchain-Based Systems for Credit Rating and Other Technological Advancements in the Credit Rating Systems
- Inclination Towards the Cloud-based Credit Rating Solutions Among the End-Users
Market Drivers
- Growing Digitalization Across Banks and Financial Organizations to Streamline Their Operations and Digital Lending
- Increasing Demand for Maintaining High Credit Ratings and Scores Among the Borrowers will Boost the Market
Opportunities
- Increased Adoption of Automated Loan Issuance System in the Banks Will Create Significant Opportunities
- Significant Growth of Small and Medium Industries Across the Globe
Restraints
- High Cost of Subscriptions and Lack of Proper Internet Connectivity May Hamper the Growth
Challenges
- Lack of Cross-Platform Operations of Some Types of Credit Rating Software
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.