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Global Debt Collection Software Market - Segmentation by Component (Software and Services), End-User (Collection Agencies, Telecommunications, Health and Banking, Financial Services, and Insurance), Organization Size (Small and Medium Enterprises and Large Enterprises) and Region - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 to 2027

Published: January, 2022
ID: 10145
Pages: 150

Global Debt Collection Software Market Size & Growth Analysis (2021 – 2026)

The global debt collection software market size will extend from $ 3.29 billion in 2020 to $ 5.26 billion in 2025, with a CAGR of 9.6% from 2020 to 2025.

Debt collection is the procedure for monitoring payments of debts from companies or individuals. A business that focuses on debt collection is called a debt collector. Debt collection software provides a flexible and secured payment option for customers. Most businesses use email, telephone, mobile consumer portals, and interactive text messages (SMS) to connect with their customers. With the help of debt collection software, companies help their clients to solve their debt problems.

Accounts Receivable is one of the most important areas of business. Without effective collection, it is not possible to pay for everything that is needed to stay in business, such as office supplies, employee salaries, or even wages. Managing accounts receivable doesn't have to be a challenge. The process becomes simple with the right tools, such as debt collection software.

Debt Collection Software provides debtors with the best in debtor information, payment utilities, workflow management, reporting tools, compliance resources and documentation, all available in a few clicks. With the help of the cloud-based debt collection software offering, users can access information anywhere, anytime, with fully integrated applications.

Recent Developments:

  • In May 2020, Chetu, a leading developer of custom software solutions, was named the winner of the Silver Stevie Award in the Founding Team of the Year category at the 18th American Business Awards. Over 3,600 entries from organizations of all sizes and industries were submitted for consideration in a wide range of categories.
  • In April 2020, financial technology leader FIS announced that FIS Ventures, the newly formed enterprise risk investment division of FIS, had launched an effort to invest a target of $ 150 million in fintech start-ups, promising over the next three years, which include companies based on technologies such as artificial intelligence and machine learning, digital automation and activation, data and analytics, privacy, distributed ledger technology, security and financial inclusion.

Impact of Covid-19 on Debt Collection Software Market:

Several state officials and regulators have taken steps to ease the economic burden of COVID-19 for consumers in their states, including placing additional restrictions on debt collection practices. On March 26, 2020, Massachusetts Attorney General (AG) Maura Healey introduced an emergency regulation in order to curb debt collection in the Commonwealth nations during the period of coronavirus pandemic.

Market Growth and Trends:

Increasing Automation in the debt collection process likely to drive growth in future

  • Debt collection software provides different features like customer segmentation based on collection terms, automatic reminders for consumers, emails and letters, optimized communication, personalized payments, transaction administration, commission management, management compliance, invoice management, payment, etc. in reducing human intervention and automating redundant tasks. This has led to more efficient operations and a reduction in the excessive cost incurred due to these processes, thus increasing the growth of the Global Debt Collection Software market.
  • Cloud computing technology is becoming more common and the seamless connectivity that the cloud provides makes it accessible and also increases the ease of sharing data and applications. According to Right Scale's Annual State of the Cloud Report in 2019, 91% of enterprises implemented public cloud and 72% preferred private cloud. Most companies use both options, with 69% opting for the hybrid cloud solution. Therefore, the advent of cloud technology is also driving the growth of the market.
  • Although government regulations regarding data security are tightening, government policies and increasing investments in BI analysis tools are developing the spend analysis market around the world. Many global companies are collaborating with national governments to improve spending and procurement processes by using expense analysis tools to provide a practical business solution.

Market Drivers and Restraints:

The global debt collection software market is showing significant demand due to the increasing automation of the deep collection process. Outsourcing debt collection to expert collection agencies is another factor driving the growth of the market. Additionally, the increasing need for self-service payment models to accelerate collections may also influence market growth during the forecast period. Besides, the acceleration of digital strategies to expand collection services at a faster rate is expected to contribute to the market growth opportunity. However, enforcing debt collection regulations around the world can be challenging for the business expansion.

GLOBAL DEBT COLLECTION SOFTWARE MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020– 2026

Base Year

2020

Forecast Period

2022 - 2027

CAGR

9.6%

Segments Covered

By Components, End User, Organization Size, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Temenos, Experian Chetu, Sopra Banking, Quantrax Corporation, Indus Software, Intellect Design, Adtec Software, Advantage Software Factor, CSS Impact and Strategic Information Technology (SIT) Ltd and Others.

 

Global Debt Collection Software Market Segmentation:

The global debt collection software market has been categorised depending on components, end-user, organization size, and region.

Global Debt Collection Software Market By Components:

 the debt collection software market can be classified into software and services. Also, the services are segmented into consulting, implementation, training and support. The risks and the volume of debt are increasing worldwide due to the improvement of the borrowing and spending behavior of consumers. Collection organizations implement robust collection software to improve their collection management process and increase collection time.

Global Debt Collection Software Market By End-user:

 the debt collection software market is classified into collection agencies, telecommunications, health and banking, financial services, and insurance.

Global Debt Collection Software Market By Organization Size:

In terms of the size of the organization, the worldwide market is classified into small and medium-sized companies and large companies.

Regional Analysis:

Depending on the geography, the global debt collection software market can be studied in the areas of North America, Europe, Asia-Pacific, Middle East and Africa (MEA), and South America. North America is expected to have a leading share of the worldwide debt collection software market during the outlook period. This is due to the presence of leading players in the area. Developed countries like the United States and Japan are expected to be key markets due to the increased adoption of debt collection software.

Key Market Players:

Some of the leading companies in the global debt collection software market are Temenos, Experian Chetu, Sopra Banking, Quantrax Corporation, Indus Software, Intellect Design, Adtec Software, Advantage Software Factor, CSS Impact and Strategic Information Technology (SIT) Ltd, and others.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Debt Collection Software Market, By Component                     

                                6.1.1 Software  

                                6.1.2 Services    

                                6.1.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Debt Collection Software Market, By End-User                          

                                6.2.1 Collection Agencies             

                                6.2.2 Health       

                                6.2.3 Telecommunications          

                                6.2.4 Banking, Financial Services, and Insurance

                                6.2.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.6 Y-o-Y Growth Rate Analysis             

                                6.2.7 Market Attractiveness Index          

                6.3 Debt Collection Software Market, By Organization Size                          

                                6.3.1 Small and Medium Enterprises       

                                6.3.2 Large Enterprises 

                                6.3.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.4 Y-o-Y Growth Rate Analysis             

                                6.3.5 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Component      

                                7.2.3 By End-User           

                                7.2.4 By Organization Size            

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Component      

                                7.3.3 By End-User           

                                7.3.4 By Organization Size            

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Component      

                                7.4.3 By End-User           

                                7.4.4 By Organization Size            

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Component      

                                7.5.3 By End-User           

                                7.5.4 By Organization Size            

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Component      

                                7.6.3 By End-User           

                                7.6.4 By Organization Size            

8. Key Player Analysis                                    

                8.1 Temenos                     

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Experian Chetu                         

                8.3 Sopra Banking                           

                8.4 Quantrax Corporation                            

                8.5 Indus Software                         

                8.6 Intellect Design                         

                8.7 Adtec Software                        

                8.8 Advantage Software Factor                 

                8.9 CSS Impact                  

                8.10 Strategic Information Technology (SIT) Ltd                 

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Debt Collection Software Market By Region, From 2020-2025 ( USD Billion )
  2. Global Debt Collection Software Market By Component, From 2020-2025 ( USD Billion )
  3. Global Software Market By Region, From 2020-2025 ( USD Billion )
  4. Global Services Market By Region, From 2020-2025 ( USD Billion )
  5. Global Debt Collection Software Market By End-User, From 2020-2025 ( USD Billion )
  6. Global Collection Agencies Market By Region, From 2020-2025 ( USD Billion )
  7. Global Health Market By Region, From 2020-2025 ( USD Billion )
  8. Global Telecommunications Market By Region, From 2020-2025 ( USD Billion )
  9. Global Banking, Financial Services, and Insurance Market By Region, From 2020-2025 ( USD Billion )
  10. Global Debt Collection Software Market By Organization Size, From 2020-2025 ( USD Billion )
  11. Global Small and Medium Enterprises Market By Region, From 2020-2025 ( USD Billion )
  12. Global Large Enterprises Market By Region, From 2020-2025 ( USD Billion )

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