Authored By: Sarah
14 Dec 2022

Debt Collection Software Market share will Witness a YOY Growth Rate of 4.89% in 2023   

The debt collection software market share is expected to grow at a CAGR of 8.55% between 2022 and 2027. The regulatory compliance and the introduction of analytics in debt collection software provides a promising ground for the debt collection software market. 

Analytics in debt collection software helps predict debtor and agent behavior. Enterprises gain a better understanding of patterns that are most valuable and useful in debt recovery and collection, leading to their increased adoption. The integration of inbuilt predictive models and AI technology in debt collection software helps analyze the vocal responses, emotions, and behavior of debtors. 

Technavio’s analysis on “Debt Collection Software Market by Industry Application, Deployment and Geography - Forecast and Analysis 2023-2027” projects that the market share is expected to increase by USD 1614.02 million at an accelerating CAGR during 2023-2027. 

Debt Collection Software Market share will Witness a YOY Growth Rate of 4.89% in 2023

On-premises segment to be the Fastest-Growing Debt Collection Software Market Segment 

The debt collection software market is segmented by deployment (on-premise and cloud-based), industry application (small, medium enterprises, and large enterprises) and geography (APAC, North America, Europe, Middle East, and Africa, and South America). 

Factors such as changing lifestyles and a growing preference for comfort will increase the on-premise segment growth during the forecast period. Customization and high levels of data security offered by the on-premises deployment model are the prominent factors driving the revenue growth of the market. 

North America is projected to contribute 31% by 2027. Factors such as the increased implementation of cloud-based debt collection software by SMEs and large enterprises has further contributed to market growth. 

Lack of Awareness about Debt Collection Software Among End-users Pose a Significant Challenge 

The lack of awareness about debt collection software among end-users has become a major challenge to the adoption of debt collection software. The ineffective management of debt collection software is a challenge for most organizations. Lack of awareness adversely affects the widespread adoption of debt-collection software solutions and inhibits market growth.

Major Debt Collection Software Market Vendors 

The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.  

Some of the major debt collection software market vendors are A4dable Software, Ameyo Pvt Ltd., Analog , egalhub Technology Solutions Pvt. Ltd., Chetu Inc., Comtronic Systems LLC, DAKCS Software Systems Inc., DebtCol Software Pty. Ltd., Experian Plc, ezyCollect Pty. Ltd., Fair Isaac Corp., Fidelity National Information Services Inc., Gaviti Akyl Ltd., Indigo Cloud Ltd., MarketXpander Services Pvt. Ltd., Nestack Technologies Pvt. Ltd., PrimeSoft Solutions Inc., Quantrax Corp. Inc., Radixweb, receeve GmbH. The company offers debt collection software such as A4dable Debt Collection software which provides a custom solution to manage debtors, plaintiffs, agents, employers, clients, sheriffs, courts, and banks.

Download the Free PDF Sample Report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.   

Key Data Covered in the Debt Collection Software Market Report  

  • Precise market size estimation during the forecast period 2023-2027. 

  • CAGR of the debt collection software market forecast during 2023-2027.  

  • Market-level data on units, average selling prices, and values of the debt collection software market share.  

  • Prediction of the upcoming trends, drivers, and factors that challenge the debt collection software market.  

  • Debt collection software market growth across APAC, North America, Europe, Middle East, and Africa, and South America.

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