DUBLIN--(BUSINESS WIRE)--Sep 5, 2019--
The "Debt Collection Software Market by Component (Software, Services), Organization Size, Deployment Type, User Type (Financial Institutions, Collection Agencies, Healthcare, Government, Telecom & Utilities), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
- The market study covers the debt collection software market size across segments.
- It aims at estimating the market size and the growth potential of this market across different segments, namely, component (software and services), deployment type, organization size, user type, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
The debt collection software market is estimated to be USD 2.9 billion in 2019 and projected to reach USD 4.6 billion by 2024, at a CAGR of 9.6% during the forecast period.
Growing demand for automation and self-service payment models to improve the collection process are expected to drive the growth of the debt collection software market
The debt collection software industry is driven by various factors, such as leveraging advanced technologies to automate the collection process and rolling out self-service payment models to speed up the collection process. However, the inadequacy of legacy systems and growing regulations can hinder the growth of the market.
The telecom & utilities segment is projected to grow at the highest CAGR during the forecast period
With time, several organizations have deployed a mix of technologies, computer systems, and modern debt collection software to manage their increasing subscriber base. Telecom and utilities enterprises are continually moving forward and trying to stay on top of the latest trends and technologies as collecting telecom debts and tracking customers can be very challenging. Today, legal notices no longer pose a threat to debtors, and growing rules & regulations have made the collection process even more complex. Hence, many telecom and utility companies are using mobile technologies and have introduced self-service payment platform to keep track of their customers, follow up on the bill payment, and help them maintain their credibility.
The integration & implementation services segment expected to account for the largest share during the forecast period
Integration & implementation services provide ease to organizations in deploying debt collection software. These services ensure organizations that their applications would be integrated effortlessly with their internal and external systems, and they would get the most out of investments made on IT infrastructure. System integrators help enterprises understand the operational functionalities of their existing systems and establish reliable connectivity between data, people, applications, and devices for the growth of business revenue.
APAC expected to grow at the highest rate during the forecast period
The debt collection software market in APAC is expected to grow at the highest CAGR during the forecast period, due to the increase in demand for technologically driven debt collection software and services. This software enables an organization to fine-tune the collection process, manage credit risk, and improve debt recovery rate. The APAC region is expected to experience extensive growth opportunities during the forecast period. Australia and New Zealand (ANZ), India, Japan, and China have emerged as undisputed leaders in the debt collection software market.
Major vendors offering debt collection software and services across the globe include FIS (US), FICO (US), Experian (Ireland), CGI (Canada), TransUnion (US), Pegasystems (US), Temenos (Switzerland), Intellect Design Arena (India), Nucleus Software (India), Chetu (US), AMEYO (India), Loxon Solutions (Hungary), EXUS (UK), Kuhlekt (Australia), and Katabat (US). The study includes an in-depth competitive analysis of these key players in the debt collection software market, with their company profiles, recent developments, and key market strategies.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
5.2 Market Dynamics
5.3 Enterprise Asset Management Market: Use Cases
5.3.1 Use Case #1
5.3.2 Use Case #2
5.3.3 Use Case #3
5.3.4 Use Case #4
5.3.5 Use Case #5
5.4 Regulatory Compliance
6 Debt Collection Software Market By Component
6.3.2 Integration and Implementation
6.3.3 Training and Support
7 Debt Collection Software Market By Deployment Type
8 Debt Collection Software Market By Organization Size
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Debt Collection Software Market By User Type
9.2 Financial Institutions (Banks & NBFC)
9.3 Collection Agencies
9.6 Telecom and Utilities
9.7 Others (Real Estate, and Retail)
10 Debt Collection Software Market By Region
10.2 North America
10.5 Middle East & Africa
10.6 Latin America
11 Competitive Landscape
11.2 Competitive Scenario
11.2.1 New Product/Solution Launches and Enhancements
11.2.2 Business Expansions
11.2.4 Partnerships and Collaborations
11.3 Microquadrant Overview
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.4 Emerging Companies
12 Company Profiles
12.9 Intellect Design Arena
12.10 Nucleus Software
12.15 Loxon Solutions
For more information about this report visit https://www.researchandmarkets.com/r/79fn4q
View source version on businesswire.com:https://www.businesswire.com/news/home/20190905005811/en/
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INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 09/05/2019 12:15 PM/DISC: 09/05/2019 12:16 PM