DUBLIN--(BUSINESS WIRE)--Sep 5, 2019--

  • 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.

Competitive Landscape

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

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.2 Restraints

5.2.3 Opportunities

5.2.4 Challenges

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

6.1 Introduction

6.2 Software

6.3 Services

6.3.1 Consulting

6.3.2 Integration and Implementation

6.3.3 Training and Support

7 Debt Collection Software Market By Deployment Type

7.1 Introduction

7.2 On-Premises

7.3 Cloud

8 Debt Collection Software Market By Organization Size

8.1 Introduction

8.2 Large Enterprises

8.3 Small and Medium-Sized Enterprises

9 Debt Collection Software Market By User Type

9.1 Introduction

9.2 Financial Institutions (Banks & NBFC)

9.3 Collection Agencies

9.4 Healthcare

9.5 Government

9.6 Telecom and Utilities

9.7 Others (Real Estate, and Retail)

10 Debt Collection Software Market By Region

10.1 Introduction

10.2 North America

10.3 Europe

10.4 Asia-Pacific

10.5 Middle East & Africa

10.6 Latin America

11 Competitive Landscape

11.1 Overview

11.2 Competitive Scenario

11.2.1 New Product/Solution Launches and Enhancements

11.2.2 Business Expansions

11.2.3 Acquisitions

11.2.4 Partnerships and Collaborations

11.3 Microquadrant Overview

11.2.1 Visionary Leaders

11.2.2 Dynamic Differentiators

11.2.3 Innovators

11.2.4 Emerging Companies

12 Company Profiles

12.1 Introduction

12.2 FIS

12.3 CGI

12.4 Experian

12.5 FICO

12.6 Transunion

12.7 Pegasystems

12.8 Temenos

12.9 Intellect Design Arena

12.10 Nucleus Software

12.11 Chetu

12.12 AMEYO

12.13 EXUS

12.14 KuhleKT

12.15 Loxon Solutions

12.16 Katabat

For more information about this report visit https://www.researchandmarkets.com/r/79fn4q

Laura Wood, Senior Press Manager

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SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 09/05/2019 12:15 PM/DISC: 09/05/2019 12:16 PM

Copyright Business Wire 2019.