Global Factoring Market Overview:
Factoring is an alternative source of financing for MSMEs. The market is expected to mark significant growth over forecasted period owing to increasing investments in Blockchain technology by governments and technological advancement. Factoring is applicable for bills counting, receivables financing and others. There has been significant rise in Asia factoring market with figure stood up to 13% in 2018, the future for factoring looks promising. This result in rising integration of Blockchain in BFSI platforms and escalating need for functional consumer and commercial credit information may trigger demand and help in industry expansion. According to AMA, the Global Factoring market is expected to see growth rate of 11.4%
- Increase in Demand of factoring due to Alternative Source of Financing Boost the Market.
- Rapid Demand Due to Provision of Capital Loans that Fuelled up the Factoring Market.
- Introduction of blockchain in factoring market.
- Growing popularity in emerging countries
- Fraud Risk Associated with Factoring.
- Restrict the Scope of other Borrowing Such as Book Debts.
- Increasing Awareness among the Customers that leads to Grow the Factoring Market.
- Technological Advancements Such as Payments through Invoices Expected to Boost the Market
- Limitation on the Speed Level of Factoring are Anticipated to Challenge the Market.
Some of the key players profiled in the report are BNP Paribas (France), Deutsche Factoring Bank (Germany), Eurobank (Greece), HSBC Group (United Kingdom), Mizuho Financial Group (Japan), 1st PMF Bancorp (United Kingdom), Aldemore Invoice Finance (United Kingdom), American Receivable (United Kingdom), Bibby Financial Services (United Kingdom) and Capital Plus (United States). Additionally, following companies can also be profiled that are part of our coverage like Charter Capital (India), RBS Invoice Finance (United Kingdom), Riviera Finance (United States) and Universal Funding (United States). Analyst at AdvanceMarketAnalytics see United States and United Kingdom Players to retain maximum share of Global Factoring market by 2024.
In June 2018, Triumph Bancorp, Inc. acquired the transportation factoring asset of Interstate Capital Corporation. This acquisition is beneficial in providing equipment lending, asset based lending, and premium finance solutions for independent insurance agents.
“According to Factoring Regulation Act, its provide for and regulate assignments receivables by making provisions for registration therefore and rights & obligations of parties to contract for assignments of receivables and for matters connected therewith or incidental thereto. The provision of this act shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being force or any instrument having effects by virtue of any such law.”
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Factoring market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Factoring market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Factoring Manufacturers, Factoring Traders, End-Use Market Participants of Different Segments of Factoring, Government and Research Organizations, R&D Institutions and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.