Credit Management Software Market by Deployment Type, Service Type and Organization Size - Global Industry Analysis, Size, Share, Growth, Trends and Forecast (2016-2025) - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 23, 2018--The “Credit Management Software Market by Deployment Type, by Service Type, by Organization Size Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 - 2025” report has been added to ResearchAndMarkets.com’s offering.
The global credit management software market was valued at around USD 1,620 million in the year 2016 and is expected to reach over USD 2,550 million by the end of 2025 growing at a CAGR of more than 5.50% between 2017 and 2025.Increasing awareness about the benefits of using automation and dedicated software has triggered the growth of the credit management software market. Credit management software provides advantages such efficiency, better cash flow management, maximum insights pertaining to customer behavior, and much more.The end-user industries such as telecom, healthcare, manufacturing, information technology and electronics are implementing the credit management software owing to the benefits offered by credit management software. Moreover, credit management software also provides key insights into the movement of the company invoices for several transactions taking place within or outside the company. Such benefits offered by credit management software are boosting the market over the forecast period. In addition, credit management software can also be used with other widely used software in industries such as Enterprise Resource Management (ERP). In combination with ERP, credit management software helps in better managing the resources as well as transactions in the company.
The major factor that will limit the growth of the credit management software market is a high capital investment.
Cloud segment registered the highest market share of 58.10% in 2016 and it is also expected to grow at a higher CAGR of around 5.5% over the forecast period. The cloud segment primarily offers online credit application, collaborative workflow, data aggregation, and easy retrieval and storage of data that can be accessed from any remote location. Such benefits overcome the shortfalls associated with the on-premise segment. Hence cloud-based credit management software is being widely used.
By service type, the consulting segment held the largest market share of more than 50% in the global credit management software market. There is an increased demand for the consulting services of the credit management software owing to the growing adoption of the software among the small and medium enterprises. However, it is anticipated that the operation and the maintenance services segment will register the highest CAGR growth in the coming years.Large enterprises segment dominated the credit management software market in 2016 by contributing a market share of 66.38%. Being expensive, credit management software is more affordable for the large enterprises. In addition, some of the giant consulting firms rely on the credit management software and cater the smaller enterprises in managing the credit accounts.The growing popularity and increasing adoption rate of credit management software are positively influencing the medium enterprises. Owing to which the segment small and medium enterprises is estimated to grow at a CAGR of 6.19% over the forecast period. Moreover, the benefits offered by credit management software such as efficiency in credit management, better cash flow management, maximum insights pertaining to customer behavior, and much more is driving the demand for credit management software over the forecast period.
Asia Pacific is expected to grow at the highest CAGR of 6.50% over the forecast period. Heavy investment by international companies in the Asia Pacific region owing to cheap labor has to lead to rapid industrialization over the last decade which, in turn, has increased the adoption of the credit management software in various organizations. This is estimated to continue in the near future. Europe held the highest market share of 32.16% in 2016 and is growing with a steady CAGR over the forecast period.
Key Topics Covered
2. Executive Summary
3. Credit Management Software - Market Dynamics
4. Global Credit Management Software Market - Competitive Landscape
5. Global Credit Management Software Market - Deployment Type Segment Analysis
6. Global Credit Management Software Market - Service Type Segment Analysis
7. Global Credit Management Software Market - Organization Type Segment Analysis
8. Global Credit Management Software Market - Regional Segment Analysis
9. Company ProfilesHigh RadiusRimiliaSolutions for Financials B.V.SOPLEX Consult GmbHEquinitiEskerHanseOrga GroupInnovation Software LimitedMisysOnguardProf. Schumann GmbHCforia Software Inc.Credica LimitedCredit & Management Systems, Inc.Care & CollectCreman DebassoDebtpackEmagia CorporationCredit Management Tools.comTriple A Solutions Pvt.System Partner Norge ASViatec Business Solutions Ltd.Xolv BVApruve Inc.BVCM Collections
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Related Topics:Software,Credit and Loans
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE PROFESSIONAL SERVICES FINANCE
SOURCE: Research and Markets
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PUB: 11/23/2018 08:18 AM/DISC: 11/23/2018 08:17 AM