Debt Collection Software - Worldwide Market Analysis & Forecast (2018-2023): The Telecom & Utilities End-User Segment is Expected to Grow at the Highest CAGR - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 12, 2018--The “Debt Collection Software Market by Component (Software and Services), End-User (Banks, Collection Agencies, Finance Companies, Healthcare), Organization Size (Large Enterprises and SMEs), Deployment Type, and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The debt collection software market size is expected to grow from USD 2.64 billion in 2018 to USD 3.73 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.
The increasing focus on the multi-communication channel to reach debtors, growing need to outsource debt collection task to specialized collection agencies, and rising demand for cloud-based debt collection software powered with self-service payment models are expected to drive the growth of the debt collection software market.
The major factors that are expected to restrict the growth of the debt collection software market are inflexibility of the existing systems to process a large volume of debtor’s information and limited IT resources.
Among end-users, the telecom and utilities segment is expected to grow at the highest CAGR during the forecast period. It becomes challenging for debt collection agencies and organizations to recover the amount of debt on time. In this digital era, debt collection software can be extremely helpful to debt collection agencies in collecting debt from consumers. Debt collection software offer the self-service payment platform to consumers for timely paying their bills and maintaining their credibility. This adoption enables the cloud segment to account for a considerable market size during the forecast period.
The implementation segment is expected to account for the largest market size during the forecast period.
North America is estimated to account for the largest market share in 2018 while APAC is expected to grow at the highest CAGR during the forecast period.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Debt Collection Software Market, By Component
7 Debt Collection Software Market, By Service
8 Debt Collection Software Market, By Professional Service
9 Debt Collection Software Market, By End-User
10 Debt Collection Software Market, By Organization Size
11 Debt Collection Software Market, By Deployment Type
12 Debt Collection Software Market, By Region
13 Competitive Landscape
14 Company ProfilesFICO FIS Pegasystems Experian Temenos Intellect Design Arena Sopra Banking Software Exus Katabat Advantage Software Factory Chetu Nucleus Software Ameyo (Drishti-Soft) Agreeya Solutions Coface Arvato Kuhlekt Adtec Software Debtrak Quantrax Corporation Indus Software Pamar Systems Totality Software CSS Impact Seikosoft
For more information about this report visit https://www.researchandmarkets.com/research/lh59gc/debt_collection?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180912005480/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Software,Credit and Loans
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES BANKING
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/12/2018 06:00 AM/DISC: 09/12/2018 06:00 AM