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TMCNet:  Factoring Market | Need for Alternative Source of Financing for MSMEs to Boost Market Growth | Technavio

[October 01, 2020]

Factoring Market | Need for Alternative Source of Financing for MSMEs to Boost Market Growth | Technavio

The factoring market is expected to grow by USD 1,308.4 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters - with a limited impact on the full-year economic growth according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201001005638/en/

Technavio has announced its latest market research report titled Global Factoring Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Factoring Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts

The acquisition of new customers increases the number of invoices for companies. Also, MSMEs are at a disadvantage while dealing with the capital market, in terms of credit rationing and finance gaps. Besides, the limited availability of funding in these firms is compelling them to opt for external sources of financing such as banks, investments from venture capitals, factoring, and others. Factoring firms provide working capital loans to help organizations mitigate credit risks by creating dynamic incentives, such as providing loans without start-up fees or termination fees. This trend is increasingly becoming popular among MSMEs in both emerging and developed countries. These factors are fostering the growth of the global factoring market.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41066

As per Technavio, the growing need for alternative source of financing for MSMEs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Factoring Market: Advent of Blockchain in Factoring Services

Blockchain is an emerging technology that is increasingly being accepted in mainstream payment modes. It is transforming the way exchanges such as the stock market, patent awarding, and factoring work. Many developed countries are testing the affordability of the technology in the field of trade finance. For example, countries such as the UK, Canada, Russia, and China are experimenting by placing their national currencies on the blockchain. The technology will enable easy availability of information about buyers, and sellers on a single platform, which will help all stakeholders involved in factoring to reduce their risks. This trend is expected to have a positive impact on the growth of the global factoring market during the forecast period.

"Growing awareness about supply chain financing, including factoring and the adoption of structuring and pricing tools will further boost market growth during the forecast period", says a senior analyst at Technavio.

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Factoring Market: Segmentation Analysis

This market research report segments the factoring market by Type (Domestic factoring and International factoring) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).

The European region led the factoring market in 2020, followed by APAC, South America, North America, and MEA respectively. During the forecast period, Europe is expected to register the highest incremental growth due to the increased penetration of factoring in countries such as Poland and Croatia.

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. Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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