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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

  • ID: 4618335
  • Report
  • Region: Global
  • 144 Pages
  • Markets and Markets
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The Debt Collection Software Market 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%

FEATURED COMPANIES

  • Adtec Software
  • Chetu
  • Experian
  • Indus Software
  • Nucleus Software
  • Seikosoft
  • MORE

The debt collection software market is expected to grow at a CAGR of 7.2% during the forecast period.
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 multicommunication 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.

The implementation segment is expected to account for the largest market size during the forecast period.

Implementation services offered by debt collection software vendors involve analyzing the organization’s need, understanding the operational functionalities of the existing systems, and integrating value-added features as per the specific requirements of debt collection organizations and agencies. Implementation services help debt collection organizations to improve their cash collection efficiency and boost the overall collection and recovery process.

Moreover, these services help money lending organizations to redefine collection strategies for uplifting the customers’ satisfaction.

The telecom and utilities segment is expected to grow at the highest CAGR during the forecast period.

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. Asia Pacific is expected to witness the highest growth rate 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.

APAC is expected to be a money-spinning industry for debt collection software providers during the forecast period, considering the technological advancements and the increasing bad debts. Multinational companies are expected to emphasize on exploring the APAC industry by partnering with local companies, channel partners, and technology partners.

Moreover, the increasing adoption of the cloud and mobile technologies by large diversified populations have led to the rapid implementation of debt collection software in the APAC countries, such as Japan, China, and Australia.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people.

The break-up of profiles of the primary participants is given below:
By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
By Designation: C-level – 45%, D-level – 30%, and Others – 25%
By Region: North America – 35%, Asia Pacific – 30%, Europe – 20%, and RoW – 15%

Major vendors that offer debt collection software across the globe include FICO (US), Pegasystems (US), Temenos (Switzerland), Experian (Ireland), Chetu (US), FIS (US), EXUS (UK), Sopra Banking (France), Quantrax Corporation (US), Indus Software (India), Pamar Systems (US), Intellect Design (India), Kuhlekt (Australia), Adtec Software (UK), Katabat (US), Advantage Software Factory (Romania), Totality Software (US), CSS Impact (US), Nucleus Software (India), Coface (France), Arvato (Germany), Ameyo (India), AgreeYa Solutions (US), SeikoSoft (US), and Debtrak (UK). 

Research Coverage
The debt collection software market has been segmented by component, end-user, deployment type, organization size, and region. The report is expected to help market leaders/new entrants in this market in the following ways:
The report segments the debt collection software market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across different debt collection components and regions. Moreover, the report splits the market into on-premises and cloud deployment types.

Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analysis – the market size of the global market and subsegments; analysis of the top players and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the debt collection software market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities. The report is expected to enhance both established firms, as well as new entrants/smaller firms to gauge the pulse of the market, which in turn, could help firms in garnering high market share.

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FEATURED COMPANIES

  • Adtec Software
  • Chetu
  • Experian
  • Indus Software
  • Nucleus Software
  • Seikosoft
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions and Limitations
2.3.1 Assumptions
2.3.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Debt Collection Software Market
4.2 Market By Component
4.3 Market By Service
4.4 Market By Professional Service
4.5 Market By End-User
4.6 Market By Organization Size
4.7 Market By Deployment Type
4.8 Market Top 3 End-Users and Regions

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Need to Provide Customer-Centric Debt Collection Solutions
5.2.1.2 Need to Outsource Debt Recovery to Specialized Debt Collection Agencies
5.2.1.3 Growing Awareness Amongst Debtors for Self-Service Models
5.2.2 Restraints
5.2.2.1 Inadequacy of the Existing Systems and Lack of IT Resources
5.2.3 Opportunities
5.2.3.1 Exploration of Digital Strategies to Roll Out Collection Services at A Faster Pace
5.2.3.2 Growing Demand By Entreprises to Augment Multi-Channel Communication Technology With Debt Collection Process
5.2.4 Challenges
5.2.4.1 Tracking Delinquent Consumer Debts, and Rising Government Regulations on Debt Collection Activities
5.2.4.2 Debt Collectors’ Dependency on Debtors’ Dynamic Payment Information and Databases
5.3 Industry Trends
5.3.1 Use Case 1: FICO
5.3.2 Use Case 2: FIS
5.3.3 Use Case 3: Experian
5.3.4 Use Case 4: Experian

6 Debt Collection Software Market, By Component
6.1 Introduction
6.2 Software
6.3 Services

7 Market By Service
7.1 Introduction
7.2 Professional Services
7.3 Managed Services

8 Debt Collection Software Market, By Professional Service
8.1 Introduction
8.2 Implementation
8.3 Consulting
8.4 Training and Support

9 Market By End-User
9.1 Introduction
9.2 Banks
9.3 Collection Agencies
9.4 Finance Companies
9.5 Healthcare
9.6 Consumer Goods and Retail
9.7 Telecom and Utilities
9.8 Others

10 Debt Collection Software Market, By Organization Size
10.1 Introduction
10.2 Large Enterprises
10.3 Small and Medium-Sized Enterprises

11 Market By Deployment Type
11.1 Introduction
11.2 On-Premises
11.3 Cloud

12 Debt Collection Software Market, By Region
12.1 Introduction
12.2 North America
12.2.1 United States
12.2.2 Canada
12.3 Europe
12.3.1 United Kingdom
12.3.2 Germany
12.3.3 France
12.3.4 Rest of Europe
12.4 Asia Pacific
12.4.1 Australia and New Zealand
12.4.2 Japan
12.4.3 China
12.4.4 Rest of Asia Pacific
12.5 Latin America
12.5.1 Brazil
12.5.2 Mexico
12.5.3 Rest of Latin America
12.6 Middle East and Africa
12.6.1 Kingdom of Saudi Arabia
12.6.2 South Africa
12.6.3 United Arab Emirates
12.6.4 Rest of Middle East and Africa

13 Competitive Landscape
13.1 Overview
13.2 Competitive Scenario
13.2.1 New Product Launches and Upgradations
13.2.2 Acquisitions
13.2.3 Partnerships and Agreements
13.2.4 Business Expansions

14 Company Profiles
14.1 Introduction
14.2 FICO
14.3 FIS
14.4 Pegasystems
14.5 Experian
14.6 Temenos
14.7 Intellect Design Arena
14.8 Sopra Banking Software
14.9 Exus
14.10 Katabat
14.11 Advantage Software Factory
14.12 Chetu
14.13 Nucleus Software
14.14 Ameyo (Drishti-Soft)
14.15 Agreeya Solutions
14.16 Coface
14.17 Arvato
14.18 Kuhlekt
14.19 Adtec Software
14.20 Debtrak
14.21 Quantrax Corporation
14.22 Indus Software
14.23 Pamar Systems
14.24 Totality Software
14.25 Css Impact
14.26 Seikosoft

15 Appendix
15.1 Discussion Guide
15.2 Knowledge Store: Subscription Portal
15.3 Available Customizations
15.4 Related Reports
15.5 Author Details

List of Tables (66 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2017
Table 2 Debt Collection Software Market Size and Growth Rate, 2016–2023 (USD Million, Y-O-Y %)
Table 3 Market Size By Component, 2016–2023 (USD Million)
Table 4 Software: Market Size By Region, 2016–2023 (USD Million)
Table 5 Services: Market Size By Region, 2016–2023 (USD Million)
Table 6 Debt Collection Software Market, By Service, 2016–2023 (USD Million)
Table 7 Professional Services: Market Size By Region, 2016–2023 (USD Million)
Table 8 Managed Services: Market Size By Region, 2016–2023 (USD Million)
Table 9 Debt Collection Software Market Size, By Professional Service, 2016–2023 (USD Million)
Table 10 Implementation: Market Size By Region, 2016–2023 (USD Million)
Table 11 Consulting: Market Size By Region, 2016–2023 (USD Million)
Table 12 Training and Support: Market Size By Region, 2016–2023 (USD Million)
Table 13 Debt Collection Software Market Size, By End-User, 2016–2023 (USD Million)
Table 14 Banks: Market Size By Region, 2016–2023 (USD Million)
Table 15 Collection Agencies: Market Size By Region, 2016–2023 (USD Million)
Table 16 Finance Companies: Market Size By Region, 2016–2023 (USD Million)
Table 17 Healthcare: Market Size By Region, 2016–2023 (USD Million)
Table 18 Consumer Goods and Retail: Market Size By Region, 2016–2023 (USD Million)
Table 19 Telecom and Utilities: Market Size By Region, 2016–2023 (USD Million)
Table 20 Others: Market Size By Region, 2016–2023 (USD Million)
Table 21 Debt Collection Software Market, By Organization Size, 2016–2023 (USD Million)
Table 22 Large Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 23 Small and Medium-Sized Enterprises: Market Size By Region, 2016–2023 (USD Million)
Table 24 Market Size By Deployment Type, 2016–2023 (USD Million)
Table 25 On-Premises: Market Size By Region, 2016–2023 (USD Million)
Table 26 Cloud: Market Size By Region, 2016–2023 (USD Million)
Table 27 Debt Collection Software Market Size, By Region, 2016–2023 (USD Million)
Table 28 North America: Market Size By Country, 2016–2023 (USD Million)
Table 29 North America: Market Size By Component, 2016–2023 (USD Million)
Table 30 North America: Market Size By Service, 2016–2023 (USD Million)
Table 31 North America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 32 North America: Market Size By End-User, 2016–2023 (USD Million)
Table 33 North America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 34 North America: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 35 Europe: Debt Collection Software Market Size, By Country, 2016–2023 (USD Million)
Table 36 Europe: Market Size By Component, 2016–2023 (USD Million)
Table 37 Europe: Market Size By Service, 2016–2023 (USD Million)
Table 38 Europe: Market Size By Professional Service, 2016–2023 (USD Million)
Table 39 Europe: Market Size By End-User, 2016–2023 (USD Million)
Table 40 Europe: Market Size By Organization Size, 2016–2023 (USD Million)
Table 41 Europe: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 42 Asia Pacific: Debt Collection Software Market Size, By Country, 2016–2023 (USD Million)
Table 43 Asia Pacific: Market Size By Component, 2016–2023 (USD Million)
Table 44 Asia Pacific: Market Size By Service, 2016–2023 (USD Million)
Table 45 Asia Pacific: Market Size By Professional Service, 2016–2023 (USD Million)
Table 46 Asia Pacific: Market Size By End-User, 2016–2023 (USD Million)
Table 47 Asia Pacific: Market Size By Organization Size, 2016–2023 (USD Million)
Table 48 Asia Pacific: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 49 Latin America: Debt Collection Software Market Size, By Country, 2016–2023 (USD Million)
Table 50 Latin America: Market Size By Component, 2016–2023 (USD Million)
Table 51 Latin America: Market Size By Service, 2016–2023 (USD Million)
Table 52 Latin America: Market Size By Professional Service, 2016–2023 (USD Million)
Table 53 Latin America: Market Size By End-User, 2016–2023 (USD Million)
Table 54 Latin America: Market Size By Organization Size, 2016–2023 (USD Million)
Table 55 Latin America: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 56 Middle East and Africa: Debt Collection Software Market Size, By Country, 2016–2023 (USD Million)
Table 57 Middle East and Africa: Market Size By Component, 2016–2023 (USD Million)
Table 58 Middle East and Africa: Market Size By Service, 2016–2023 (USD Million)
Table 59 Middle East and Africa: Market Size By Professional Service, 2016–2023 (USD Million)
Table 60 Middle East and Africa: Market Size By End-User, 2016–2023 (USD Million)
Table 61 Middle East and Africa: Market Size By Organization Size, 2016–2023 (USD Million)
Table 62 Middle East and Africa: Market Size By Deployment Type, 2016–2023 (USD Million)
Table 63 New Product Launches and Upgradations, 2017–2018
Table 64 Mergers and Acquisitions, 2018
Table 65 Partnerships and Agreements, 2017–2018
Table 66 Business Expansions, 2017–2018

List of Figures (45 Figures)

Figure 1 Debt Collection Software Market Segmentation
Figure 2 Market Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Debt Collection Software Market: Assumptions
Figure 8 Market Top 3 Segments in 2018
Figure 9 Market By Component
Figure 10 Market By Organization Size
Figure 11 Market By Region
Figure 12 Growing Need for Customer-Centric Debt Collection Management Solutions is Expected to Drive the Debt Collection Software Market Growth During the Forecast Period
Figure 13 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 14 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 15 Implementation Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 16 Telecom and Utilities Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 18 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 19 Banks End-User, and North America are Estimated to Hold the Largest Market Size in 2018
Figure 20 Debt Collection Software Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 22 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 23 Implementation Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 24 Telecom and Utilities Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 26 Cloud Deployment Type is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 North America is Estimated to Hold the Largest Market Size in 2018
Figure 28 North America: Market Snapshot
Figure 29 Asia Pacific: Market Snapshot
Figure 30 Market Ranking for the Debt Collection Software Market, 2018
Figure 31 Key Developments By the Leading Players in the Debt Collectuion Software Market,2017-2018
Figure 32 Market Evaluation Framework
Figure 33 Geographic Revenue Mix of the Top Market Players
Figure 34 FICO: Company Snapshot
Figure 35 FICO: SWOT Analysis
Figure 36 FIS: Company Snapshot
Figure 37 FIS: SWOT Analysis
Figure 38 Pegasystems: Company Snapshot
Figure 39 Pegasystems: SWOT Analysis
Figure 40 Experian: Company Snapshot
Figure 41 Experian: SWOT Analysis
Figure 42 Temenos: Company Snapshot
Figure 43 Temenos: SWOT Analysis
Figure 44 Intellect Design Arena: Company Snapshot
Figure 45 Nucleus Software: Company Snapshot

Note: Product cover images may vary from those shown
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  • Adtec Software
  • Advantage Software Factory
  • Agreeya Solutions
  • Ameyo (Drishti-Soft)
  • Arvato
  • Chetu
  • Coface
  • Css Impact
  • Debtrak
  • Experian
  • Exus
  • FICO
  • FIS
  • Indus Software
  • Intellect Design Arena
  • Katabat
  • Kuhlekt
  • Nucleus Software
  • Pamar Systems
  • Pegasystems
  • Quantrax Corporation
  • Seikosoft
  • Sopra Banking Software
  • Temenos
  • Totality Software
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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