Factoring services market projected to reach $5,872.00 billion by 2031, driven by open account trading.

From GlobeNewswire: 2024-09-20 06:23:00

Allied Market Research’s report projects the global factoring services market to reach $5,872.00 billion by 2031, growing at 6.1% CAGR. Factors driving market growth include the rise in open account trading opportunities and the need for financing for SMEs. Large enterprises dominated in 2021, while SMEs are expected to witness the largest CAGR of 6.2%. The domestic segment held the highest market share in 2021, with the international segment expected to see the largest CAGR of 6.5%. Europe led the market in 2021 due to established financial institutions. Key industry developments include partnerships and expansions to boost factoring activities. The report offers insights for stakeholders to make informed business decisions. Top market players include KUKE Finance JSC, BNP Paribas, and HSBC group. Trending reports in the BFSI industry include WealthTech Solutions and Tax Advisory Services. Allied Market Research strives to provide accurate and quality market research to assist clients in achieving sustainable growth.



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