Debt Collection Services Market Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Experian, FIS, CGI, Transunion

Acknowledging the kind of traction gained by this market, Industry Data Analytics recently published a study report asserts the global Debt Collection Services Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 9.6% during the review period (2022 to 2027).

Debt Collection Services Market Overview

The debt collection Services is being driven by various factors, such as managing and automating all debt collection and recovery processes, rolling out self-service payment models to quicken the collection process due to the increased need to control, rise in need to reduce bad debt and improve the cash flow while optimizing collection costs, and surge in demand. Debt collection Services offers various features, like customer segmentation based on collection scenarios, automated customer reminders, email and letters, streamlined communication with clients, suitable payment plans, transaction management, commission management, compliance management, invoice management, payment, and others resulting in reduced human intervention and automation of redundant tasks. This has led to higher efficiency operations and a lowering of the excessive cost incurred due to these processes, thus increasing the market growth of debt collection Services in the market.

Who are the Major Players in Debt Collection Services Market?

The Debt Collection Services Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market  Experian plc (LSE:EXPN.L), FIS, CGI Inc. (NYSE:GIB), TransUnion (NYSE:TRU), CollectOne (CDS Software), Comtronic Systems, Quantrax Corp, CollectPlus (ICCO), Comtech Systems, Codix, Katabat, Decca Software, Codewell Software, Adtec Software, JST CollectMax, Indigo Cloud, Pamar Systems, TrioSoft, InterProse, Cogent (AgreeYa), Kuhlekt, Lariat Software, Case Master and others.

Recent Developemnt

December 30, 2021:Firstsource Solutions acquires American Recovery Services.Firstsource said the acquisition enhances its leadership in consumer debt management services by adding legal stage collections capabilities. The debt collections market is a significant part of the consumer credit ecosystem with evolving regulatory demands. These shared tenets add to the symmetry of this combination, the company added in press release. The cost of acquisition is $53 million including earnouts done through cash consideration.

What are the major Applications, Types and Regions for Debt Collection Services Market?

Debt Collection Services  Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

•      Cloud-Based


•      On-Premise


•      Others

 By Applications it is segmented into

•    Collection Agencies


•     Finance Companies


•     Law Firms & Government Departments


•     Retail Firms


•     Others

 Debt Collection Services Market Regional Analysis

North America dominated the overall debt collection service market in previous year, and is expected to remain dominant during the forecast period, due to availability of well-developed infrastructure. Thus, the integration of debt collection service among various BFSI systems becomes easy. However, Asia-Pacific is expected to exhibit highest growth rate during the forecast period, due to digital transformation and increase in willingness of consumers to adopt new technologies.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Debt Collection Services Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Debt Collection Services Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Debt Collection Services Market report scope?

Key Takeaways from this Debt Collection Services Report

• Evaluate Debt Collection Services market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Debt Collection Services market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

Frequently Asked Questions

What is the study period of this market?

The Debt Collection Services Market is studied from 2017 - 2027.

What is the growth rate of Debt Collection Services Market?

The Debt Collection Services Market is growing at a CAGR of 9.6% over the next 5 years.

Who are the leading key players in Debt Collection Services Market?

Experian, FIS, CGI, Transunion, CollectOne (CDS Software), Comtronic Systems, Quantrax Corp, CollectPlus (ICCO), Comtech Systems, Codix, Katabat, Decca Software, Codewell Software, Adtec Software, JST CollectMax, Indigo Cloud, Pamar Systems, TrioSoft, InterProse, Cogent (AgreeYa), Kuhlekt, Lariat Software, Case Master and others.

What regions regions does this Debt Collection Services Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

What are the significant types of Debt Collection Services Market?

Cloud-Based, On-Premise, Others

What are the significant Applications of Debt Collection Services Market?

Collection Agencies, Finance Companies, Law Firms & Government Departments, Retail Firms, Others

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