Product Code: GVR-4-68040-268-9
Debt Collection Software Market Growth & Trends:
The global debt collection software market size is anticipated to reach USD 9.27 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.6% from 2024 to 2030. Societies are undergoing digitization in various aspects to achieve better efficiency, automation, and control of several operations. In line with this, the increasing demand for digital transformation platforms and the advent of cloud computing technology are driving the market growth.
The COVID-19 pandemic significantly impacted the market. It led to an increase in debts for individuals and companies due to the economic slowdown and job losses, in turn driving market growth. Moreover, it prompted organizations to adopt remote work models, which resulted in the need for cloud-based solutions. These factors contributed to the growth of the market.
The growing need for advanced solutions to effectively manage debts is driving market growth. As businesses face financial challenges, the demand for debt collection solutions has witnessed a substantial increase. This is particularly true for small and medium-sized businesses that need more resources to manage their debt collection processes.
In addition, the increasing prevalence of defaults and delinquencies in debts is driving market growth. As more individuals and organizations struggle to pay their debts, the need for efficient and reliable solutions has become more prominent. Debt collection platforms can help companies manage their processes more effectively and increase their chances of recovering outstanding debts.
With the increasing adoption of cloud-based solutions, debt collection platforms have become more accessible and affordable for businesses of all sizes. In addition, integrating artificial intelligence and machine learning technologies has made the solution more sophisticated and efficient in predicting and managing customer behavior.
Debt Collection Software Market Report Highlights:
- Based on component, the software segment accounted for the highest revenue share of over 65% in 2023 and is expected to retain its position over the forecast period. This can be attributed to the increasing use of predictive analytics. The services segment is expected to witness the fastest growth, led by the rising demand for SaaS.
- Based on deployment, the on-premise segment dominated the market in 2023 and is expected to grow at a significant CAGR over the forecast period. This can be attributed to the rising need for customization.
- Based on enterprise size, the small & medium enterprises segment is expected to witness the fastest CAGR over the forecast period owing to the increasing adoption of digital technology, enabling operators to quickly reposition and adapt to changing mission requirements or operational environments.
- Based on end-user, the financial institutions segment dominated the market in 2023 on account of the growing focus on risk management arising from bad debts.
- In August 2023, Credgenics, an India-based debt collection solution startup, secured a USD 50 million investment through its funding round. Credgenics plans to allocate the resources toward product improvement, growing its international presence, and venturing into the Banking, Financial Services, and Insurance (BFSI) industry.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.1.1. Component Outlook
- 2.1.2. Deployment Outlook
- 2.1.3. Enterprise Size Outlook
- 2.1.4. End-user Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Debt Collection Software Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Industry Value Chain Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Drivers Analysis
- 3.4.1.1. Increasing global debt
- 3.4.1.2. Growing need to digitize workflow across industries
- 3.4.2. Market Restraints Analysis
- 3.4.2.1. Stringent governmental regulations
- 3.4.3. Industry Opportunities
- 3.4.3.1. Potential R&D in artificial intelligence systems
- 3.4.4. Industry Challenges
- 3.5. Debt Collection Software Market Analysis Tools
- 3.5.1. Porter's Analysis
- 3.5.1.1. Bargaining power of the suppliers
- 3.5.1.2. Bargaining power of the buyers
- 3.5.1.3. Threats of substitution
- 3.5.1.4. Threats from new entrants
- 3.5.1.5. Competitive rivalry
- 3.5.2. PESTEL Analysis
- 3.5.2.1. Political landscape
- 3.5.2.2. Economic and social landscape
- 3.5.2.3. Technological landscape
- 3.5.2.4. Environmental landscape
- 3.5.2.5. Legal landscape
Chapter 4. Debt Collection Software Market: Component Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Debt Collection Software Market: Component Movement Analysis, 2023 & 2030 (USD Million)
- 4.3. Software
- 4.3.1. Software Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Services Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 4.4.2. Consulting
- 4.4.2.1. Consulting services market revenue estimates and forecasts, 2017 - 2030 (USD Million)
- 4.4.3. Integration & Implementation
- 4.4.3.1. Integration & implementation services market revenue estimates and forecasts, 2017 - 2030 (USD Million)
- 4.4.4. Training & Support
- 4.4.4.1. Training & support services market revenue estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5. Debt Collection Software Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Debt Collection Software Market: Deployment Movement Analysis, 2023 & 2030 (USD Million)
- 5.3. On-premise
- 5.3.1. On-premise Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 5.4. Cloud
- 5.4.1. Cloud Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Debt Collection Software Market: Enterprise Size Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Debt Collection Software Market: Enterprise Size Movement Analysis, 2023 & 2030 (USD Million)
- 6.3. Large Enterprise
- 6.3.1. Large Enterprise Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 6.4. Small & Medium Enterprise
- 6.4.1. Small & Medium Enterprise Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 7. Debt Collection Software Market: End-user Estimates & Trend Analysis
- 7.1. Segment Dashboard
- 7.2. Debt Collection Software Market: End-user Movement Analysis, 2023 & 2030 (USD Million)
- 7.3. Healthcare
- 7.3.1. Healthcare Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.4. Financial Institutions
- 7.4.1. Financial Institutions Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.5. Collection Agencies
- 7.5.1. Collection Agencies Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.6. Government
- 7.6.1. Government Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.7. Telecom & Utilities
- 7.7.1. Telecom & Utilities Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
- 7.8. Others (Real Estate & Retail)
- 7.8.1. Others (Real Estate & Retail) Market Revenue Estimates and Forecasts, 2017 - 2030 (USD Million)
Chapter 8. Debt Collection Software Market: Regional Estimates & Trend Analysis
- 8.1. Debt Collection Software Market Share, By Region, 2023 & 2030, USD Million
- 8.2. North America
- 8.2.1. North America Debt Collection Software Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.2.2. U.S.
- 8.2.2.1. U.S. debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.2.3. Canada
- 8.2.3.1. Canada debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.3. Europe
- 8.3.1. Europe Debt Collection Software Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.3.2. UK
- 8.3.2.1. UK debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.3.3. Germany
- 8.3.3.1. Germany debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.3.4. France
- 8.3.4.1. France debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.3.5. Italy
- 8.3.5.1. Italy debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific Debt Collection Software Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.4.2. China
- 8.4.2.1. China debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.4.3. Japan
- 8.4.3.1. Japan debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.4.4. India
- 8.4.4.1. India debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.4.5. South Korea
- 8.4.5.1. South Korea debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.4.6. Australia
- 8.4.6.1. Australia debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.5. Latin America
- 8.5.1. Latin America debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.5.2. Brazil
- 8.5.2.1. Brazil debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.5.3. Mexico
- 8.5.3.1. Mexico debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.5.4. Argentina
- 8.5.4.1. Argentina debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.6. Middle East and Africa
- 8.6.1. Middle East and Africa Debt Collection Software Market Estimates and Forecasts, 2017 - 2030 (USD Million)
- 8.6.2. UAE
- 8.6.2.1. UAE debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.6.3. Saudi Arabia
- 8.6.3.1. Saudi Arabia debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
- 8.6.4. South Africa
- 8.6.4.1. South Africa debt collection software market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Recent Developments & Impact Analysis by Key Market Participants
- 9.2. Company Categorization
- 9.3. Company Market Positioning
- 9.4. Company Market Share Analysis
- 9.5. Company Heat Map Analysis
- 9.6. Strategy Mapping
- 9.6.1. Expansion
- 9.6.2. Mergers & Acquisition
- 9.6.3. Partnerships & Collaborations
- 9.6.4. New Product Launches
- 9.6.5. Research and Development
- 9.7. Company Profiles
- 9.7.1. Siemens AG
- 9.7.1.1. Participant's overview
- 9.7.1.2. Financial performance
- 9.7.1.3. Product benchmarking
- 9.7.1.4. Recent developments/strategic initiatives
- 9.7.2. Experian
- 9.7.2.1. Participant's overview
- 9.7.2.2. Financial performance
- 9.7.2.3. Product benchmarking
- 9.7.2.4. Recent developments/strategic initiatives
- 9.7.3. Fair Isaac Corporation
- 9.7.3.1. Participant's overview
- 9.7.3.2. Financial performance
- 9.7.3.3. Product benchmarking
- 9.7.3.4. Recent developments/strategic initiatives
- 9.7.4. Constellation Software Inc.
- 9.7.4.1. Participant's overview
- 9.7.4.2. Financial performance
- 9.7.4.3. Product benchmarking
- 9.7.4.4. Recent developments/strategic initiatives
- 9.7.5. CGI Group Inc.
- 9.7.5.1. Participant's overview
- 9.7.5.2. Financial performance
- 9.7.5.3. Product benchmarking
- 9.7.5.4. Recent developments/strategic initiatives
- 9.7.6. TransUnion
- 9.7.6.1. Participant's overview
- 9.7.6.2. Financial performance
- 9.7.6.3. Product benchmarking
- 9.7.6.4. Recent developments/strategic initiatives
- 9.7.7. Nucleus Software Exports Ltd.
- 9.7.7.1. Participant's overview
- 9.7.7.2. Financial performance
- 9.7.7.3. Product benchmarking
- 9.7.7.4. Recent developments/strategic initiatives
- 9.7.8. Chetu Inc.
- 9.7.8.1. Participant's overview
- 9.7.8.2. Financial performance
- 9.7.8.3. Product benchmarking
- 9.7.8.4. Recent developments/strategic initiatives
- 9.7.9. CDS Software
- 9.7.9.1. Participant's overview
- 9.7.9.2. Financial performance
- 9.7.9.3. Product benchmarking
- 9.7.9.4. Recent developments/strategic initiatives
- 9.7.10. Pegasystems Inc.
- 9.7.10.1. Participant's overview
- 9.7.10.2. Financial performance
- 9.7.10.3. Product benchmarking
- 9.7.10.4. Recent developments/strategic initiatives
- 9.7.11. Temenos Group AG
- 9.7.11.1. Participant's overview
- 9.7.11.2. Financial performance
- 9.7.11.3. Product benchmarking
- 9.7.11.4. Recent developments/strategic initiatives
- 9.7.12. AMEYO
- 9.7.12.1. Participant's overview
- 9.7.12.2. Financial performance
- 9.7.12.3. Product benchmarking
- 9.7.12.4. Recent developments/strategic initiatives
- 9.7.13. PAIR Finance
- 9.7.13.1. Participant's overview
- 9.7.13.2. Financial performance
- 9.7.13.3. Product benchmarking
- 9.7.13.4. Recent developments/strategic initiatives
- 9.7.14. Credgenics
- 9.7.14.1. Participant's overview
- 9.7.14.2. Financial performance
- 9.7.14.3. Product benchmarking
- 9.7.14.4. Recent developments/strategic initiatives