Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) — The “Asia Pacific Factoring Services Market Size, Share, Trends Analysis Report: Category (Domestic, International), Type (Recourse, Non-Recourse), Financial Institution, End Use, Segment Forecast, 2024-2030” report has been added to ResearchAndMarkets.com.
The factoring services market in Asia Pacific is expected to reach USD 2.31 trillion by 2030, registering a CAGR of 11.9% from 2024 to 2030.
Increasing demand for factoring services among small and medium-sized enterprises is driving the market growth. Factoring services provide ease to businesses by providing them with instant access to cash against their invoices. Factoring services employ new technologies such as artificial intelligence (AI), machine learning (ML), natural language programming (NLP), and blockchain technology to facilitate secure cross-border payments, allowing factoring companies to provide customized financial solutions based on the operational needs of businesses.
Fintech companies have developed online platforms where businesses can submit invoices for factoring and receive fast lending decisions. Automation, cloud technology, and real-time transaction systems have sped up the factoring process, reduced operational costs, increased transparency, and given businesses faster access to funds. Additionally, banks are prioritizing customer experience by redesigning payment processes and creating omnichannel experiences.
Banks are leveraging technology and a customer-centric approach to transform their operations and grow their client base across various industry verticals. For example, in August 2023, Exim Bank of India announced its support for small and medium-sized enterprises (SMEs) in the country. The bank's new branch in GIFT City under the International Financial Services Centre (IFSC) will provide international factoring services to MSMEs. The initiative aims to improve MSMEs' access to working capital and boost their participation in global trade.
Asia Pacific Factoring Services Market Report Highlights
By category, the domestic segment led the market with the largest revenue share of 72.4% in 2023 and is expected to continue this trend during the forecast period. Asia Pacific has emerging small and medium-sized enterprises, mainly in manufacturing and construction, which are entering global trade and driving the growth of the segment. The recourse segment accounted for the largest revenue share in 2023. Recourse factoring offers flexibility in funding options and allows access to immediate cash flows by converting accounts receivable into working capital. By financial institution, the banking segment accounted for the largest share in 2023. Banks are financial institutions governed by rules and regulations. Banks are the first choice for factoring services and can provide large amounts of funds to businesses. The healthcare end-use segment is expected to grow at the fastest CAGR during the forecast period. This segment has an increasing demand for health insurance facilities in the billing process, where patients' bills are paid by a third party. Clinics and medical institutions are expected to see an increase in the demand for factoring services. India is expected to grow at the fastest CAGR during the forecast period. India has a large number of small and medium-sized enterprises participating in imports and exports, expanding its global trade.
Featured Companies
altLINEBarclays Bank PLCDBS Bank LtdChina Construction Bank CorporationDeutsche Factoring BankSBI Global Factors Limited.Exim FinserveHSBC GroupICBC ChinaMizuho Financial Group, Inc.
Key attributes:
Report AttributesDetailsNumber of Pages90Forecast Period2023 – 2030Estimated Market Value in 2023 (USD)$1.08 TrillionForecasted Market Value by 2030 (USD)$2.31 TrillionCAGR11.9%Target RegionAsia Pacific
Key topics:
Chapter 1. Methodology and Scope
Chapter 2 Overview
2.1. Market outlook
2.2. Outlook by segment
2.3. Competitive Insights
Chapter 3. Asia Pacific Factoring Services Market Variables, Trends and Scope
3.1. Market System Outlook
3.1.1. Parent market outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends
3.3. Factoring service market analysis tools
3.3.1. Industry Analysis – Porters
PESTEL Analysis
Chapter 4. Asia Pacific Factoring Services Market: Category Estimation and Trend Analysis
4.1. Segment Dashboard
4.2. Asia Pacific Factoring Services Market: Category Trend Analysis, USD Billion, 2023 and 2030
4.2.1. Domestic
International
Chapter 5. Factoring Services Market in Asia Pacific: Type Estimation and Trend Analysis
5.1. Segment Dashboard
5.2. Asia Pacific Factoring Services Market: Trend Analysis by Type, USD Billion, 2023 and 2030
5.2.1. Remedies
5.2.2. Non-recourse
Chapter 6 Asia Pacific Factoring Market: Financial Institutions' Forecasts and Trend Analysis
6.1. Segment Dashboard
6.2. Asia Pacific Factoring Services Market: Financial Institutions Activity Analysis, USD Billion, 2023 and 2030
Banks
6.2.2. Non-bank financial institutions
7. Asia Pacific Factoring Services Market: End-use Estimates and Trend Analysis
7.1. Segment Dashboard
7.2. Asia Pacific Factoring Services Market: End-Use Trend Analysis, USD Billion, 2023 and 2030
7.2.1. Manufacturing
7.2.2. Transport and logistics
Information Technology
Healthcare
Construction
Chapter 8. Factoring Services Market in Asia Pacific: Country Estimates and Trend Analysis
8.1. Asia Pacific Factoring Services Market Share, by Country, 2023 and 2030, USD Billion
Asia Pacific
8.2.1. Asia Pacific Factoring Services Market Estimates and Forecast, 2017-2030 (USD Billion)
China
India
Japan
South Korea
Chapter 9 Competitive Environment
9.1. Recent developments and impact analysis by major market participants
9.2. Company Classification
9.3. Company Market Positioning
9.4. Company Heatmap Analysis
9.5. Strategy Mapping
Extensions
9.5.2. Mergers and Acquisitions
9.5.3. Partnerships and collaborations
9.5.4. New Product Launches
Research and Development
9.6. Company Profile
Company Profile
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
For more information on this report, please visit: https://www.researchandmarkets.com/r/hmt28e
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Factoring Services Market in Asia Pacific
