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Factoring Services Market Share

Report ID: GMI8546
Published Date: Mar 2024
Report Format: PDF

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Factoring Services Market Share

CIT Group and BNP Paribas hold a significant market share in the market. CIT Group focuses on expanding its factoring services portfolio to cater to a broader range of industries and client needs. This involves introducing new factoring products tailored to specific sectors or developing innovative financing solutions that combine factoring with other financial products.

BNP Paribas emphasizes strengthening client relationships and delivering value-added services to retain and attract clients in the competitive factoring services market. This involves providing personalized financial advice, access to industry expertise, and networking opportunities for clients to foster long-term partnerships.

Factoring Services Market Companies

Major companies operating in the factoring services industry are:

altLINE
Barclays Bank PLC
BNP Paribas
China Construction Bank Corporation
CIT Group
Deutsche Factoring Bank
Factor Funding Co.
HSBC Group
Riviera Finance of Texas Inc.
RTS Financial Service, Inc.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of factoring services reached USD 4.1 trillion in 2023 and is set to witness 8.5% CAGR between 2024 and 2032, propelled by increasing demand for alternative financing solutions among small and medium-sized enterprises (SMEs).

Bank provider segment accounted for a market share of over 80% and is expected to surpass USD 6.8 trillion by 2032, as banks are well-known financial entities with a lengthy history and a positive brand reputation, which builds trust in organizations seeking dependable and secure factoring services.

Europe market held a revenue share of around 64% in 2023, as EU aggressively promotes factoring knowledge and a legislative framework that allows its implementation, thus providing a secure and predictable environment for both businesses and factoring organizations.

altLINE, Barclays Bank PLC, BNP Paribas, China Construction Bank Corporation, CIT Group, Deutsche Factoring Bank, Factor Funding Co., HSBC Group, Riviera Finance of Texas Inc., RTS Financial Service, Inc. are some of the major industry contenders.