What is the global market size of Factoring Services Market?

Global Factoring Services Market size was valued at USD 3.57 Trillion in 2022 and is poised to grow from 3.90 Trillion in 2023 to 7.88 Trillion, at a 9.2% during the forecast period (2024-2031).

Who are the key vendors in the Global Factoring Services Market?

In order to grow their respective market shares, industry players are concentrating on strategic alliances and mergers & acquisitions that actively interact with both current and potential customers. To acquire a competitive edge in the market, they are also making aggressive investments in cutting-edge technology like distributed ledger & blockchain applications. 'Citigroup Inc.', 'JPMorgan Chase & Co.', 'HSBC Holdings plc', 'Wells Fargo & Company', 'Banco Santander, S.A.', 'BNP Paribas SA', 'Deutsche Bank AG', 'Societe Generale SA', 'UniCredit S.p.A.', 'Mizuho Financial Group, Inc.', 'Commerzbank AG', 'Sumitomo Mitsui Banking Corporation', 'BBVA (Banco Bilbao Vizcaya Argentaria)', 'ING Group N.V.', 'Banco Bradesco S.A.', 'Barclays PLC', 'Standard Chartered PLC', 'KBC Group NV', 'Banco do Brasil S.A.', 'Banco Popular Español S.A.'

Top Factoring Services Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Factoring Services Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Factoring Services industry players.

Factoring Services Market Competitive Landscape

For example, HSBC UAE and HSBC India stated in 2021 that they would implement Blockchain technology to allow live financial transactions for trading purposes among Universal Tube & Plastic Industries Ltd. (UAE) & ArcelorMittal Nippon Steel India Private Limited (AM/NS India). The Blockchain-enabled Contour system, that connects to essDOCS' CargoDocs platform, handled the full end-to-end paperless transaction.

Top Player’s Company Profiles

Citigroup Inc.

JPMorgan Chase & Co.

HSBC Holdings plc

Wells Fargo & Company

Banco Santander, S.A.

BNP Paribas SA

Deutsche Bank AG

Societe Generale SA

UniCredit S.p.A.

Mizuho Financial Group, Inc.

Commerzbank AG

Sumitomo Mitsui Banking Corporation

BBVA (Banco Bilbao Vizcaya Argentaria)

ING Group N.V.

Banco Bradesco S.A.

Barclays PLC

Standard Chartered PLC

KBC Group NV

Banco do Brasil S.A.

Banco Popular Español S.A.

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FAQs

Factoring Services Market size was valued at USD 4.6 Trillion in 2024 and is poised to grow from USD 5.01 Trillion in 2025 to USD 9.91 Trillion by 2033, growing at a CAGR of 8.9% during the forecast period (2026–2033).

In order to grow their respective market shares, industry players are concentrating on strategic alliances and mergers & acquisitions that actively interact with both current and potential customers. To acquire a competitive edge in the market, they are also making aggressive investments in cutting-edge technology like distributed ledger & blockchain applications. 'China Construction Bank Corporation (China)', 'Deutsche Factoring Bank (Germany) ', 'Barclays Bank PLC (UK) ', 'BNP Paribas Fortis (Belgium) ', 'HSBC Group (UK) ', 'ICBC (China) ', 'Eurobank Direktna a.d. (Serbia) ', 'RTS Financial Service, Inc. (US) ', 'Factor Funding Co. (US) ', 'altLINE (The Southern Bank Company) (US) ', 'Mizuho Financial Group, Inc. (Japan) ', 'Mitsubishi HC Capital UK PLC (UK) ', 'Kuke Finance (China) ', 'Wells Fargo & Company (US) ', 'Societe Generale (France) ', 'Santander Bank (Spain) ', 'UniCredit S.p.A. (Italy) ', 'BBVA (Spain) ', 'Raiffeisen Bank International AG (Austria) ', 'ING Group (Netherlands)'

Factoring services can support business growth by providing the necessary working capital to fund expansion initiatives, such as increasing inventory, hiring additional staff, or entering new markets. The availability of immediate cash through factoring can accelerate growth opportunities for businesses.

Growing Demand from Small and Medium-Sized Enterprises (Smes): SMEs are increasingly turning to factoring services as a flexible financing option. Factoring provides SMEs with access to immediate cash flow by converting their accounts receivable into working capital. The convenience, speed, and accessibility of factoring services make it an attractive solution for SMEs looking to manage their cash flow and fund their business operations.

Europe retained the majority of the market of over 55% in 2022 as a result of an increased emphasis of transport companies on export business factoring and the introduction of start-ups in factoring services from countries such the U.K., Germany, Italy, Romania, and Sweden. The EU has made major investments in manufacturing, engineering, and small and medium-sized enterprise factoring services, which have greatly enhanced market growth. Using cutting-edge technology like Blockchain, which offers greatly improved data security and smart contract capabilities, several service providers in this field aspire to automate the process. It is one of the main factors promoting market expansion in this area.

Top Factoring Services Companies

Factoring Services Market Competitive Landscape

FAQs

What is the global market size of Factoring Services Market?

Who are the key vendors in the Factoring Services Market?

What is the key driver of Factoring Services Market?

What is the key market trend for Factoring Services Market?

Which region accounted for the largest share in Factoring Services Market?

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