Debt Collection Software Market 2023-2027: A Descriptive Analysis of Parent Market, Five Forces Model, Market Dynamics, & Segmentation - Technavio

NEW YORK, Nov. 24, 2022 /PRNewswire/ -- According to Technavio, the global Debt Collection Software Market size is projected to grow by USD 1614.02 million from 2022 to 2027. The market is estimated to grow at a CAGR of 8.55% during the forecast period. However, the growth momentum will decelerate. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 31%.

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Global Debt Collection Software Market- Parent Market Analysis

Technavio categorizes the global debt collection software market as a part of the Application Software and within the global Information Technology industry. The parent global IT software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. The global application software market covers companies that are engaged in developing and producing software designed for specialized applications for the business or consumer market. It includes enterprise and technical software, as well as cloud-based software. It excludes companies classified in the interactive home entertainment sub-industry and companies producing systems or database management software classified in the systems software sub-industry.  

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Global Debt Collection Software Market- Five Forces

The global Debt Collection Software Market is fragmented, and the five forces analysis covers–

• Bargaining Power of Buyers
• Threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter five model helps to strategize the business, for entire details - buy report!
   

Global Debt Collection Software Market– Customer Landscape  

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Debt Collection Software Market- Segmentation Assessment

Segment Overview

Technavio has segmented the market based on Deployment, Industry Application, distribution channel, and region. 

• The market share growth by the on-premises segment will be significant during the forecast period. This segment's market share is expected to decline during the projection period due to the high cost of implementation and limited scaling choices. The cost of the on-premises software is determined by the one-time perpetual license fee, which also includes a monthly charge for updates, support, and training. Furthermore, as there is no third-party involvement, the on-premises debt-collecting software is secure. Customization and high levels of data protection provided by the on-premises deployment approach are key drivers driving market revenue development.

Geography Overview

By geography, the global Debt Collection Software Market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global debt-collection software market.

• North America held 31% of the global debt-collection software market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The North American debt collection software industry is expanding due to the availability of suitable IT infrastructure and the significant penetration of debt collection agents and accounts receivable management firms in the US and Canada. Organizations in North America are modernizing their business processes to improve customer satisfaction and obtain a competitive advantage in the global market. Furthermore, the increased adoption of cloud-based debt collection software by SMEs and large organizations has also contributed to market expansion.

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Global Debt Collection Software Market– Market Dynamics

Key factor driving market growth

• The expansion of the debt collection software industry is primarily driven by its innovative features and user interfaces. In addition to international restrictions, large enterprises with a global presence must also abide by all local laws in the countries in which they operate.
• The expansion of regulatory compliance requirements, including those of the Health Information Technology for Economic and Clinical Health (HITECH) and the Health Insurance Portability and Accountability Act (HIPAA), are the main drivers behind the adoption of debt collection software across a number of industry verticals. In addition to complying with internal restrictions, they must follow the rules set forward by various regulatory bodies.

Recent trends influencing the market

• The key trend boosting the market growth for debt collection software is the integration of analytics. Analytics in debt collection software help in the behavior prediction of agents and debtors. Predictive analytics examines the current and historical account data as well as the connection between these data to provide a predictive behavior score. This aids in selecting debtors who are most likely to pay, extending the debt collection cycle even further.
• The analytics embedded into debt collection software aids in the optimization of debt operations by shortening the average credit collection period, streamlining quality assurance monitoring processes, and enhancing agent retention and overall agent performance.

Major challenges hindering market growth

• The lack of awareness about debt collection software among end-users may impede the debt collection software market growth. One of the market's major concerns is a lack of awareness regarding complex technologies such as debt-collecting software. Most businesses struggle with ineffective debt collection software management. The availability of debt collection software can aid in identifying the money collection and money loss threats that a company faces.
• Organizations in underdeveloped countries are currently unaware of debt collection tools and are concerned about protecting sensitive data. As a result, manufacturers must promote new debt collection software solutions through trade shows, seminars, webinars, and other marketing activities. Lack of awareness adversely affects the widespread adoption of debt-collection software solutions during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a free sample report!

What are the key data covered in this debt collection software market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the debt collection software market between 2023 and 2027
• Precise estimation of the size of the debt collection software market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the debt collection software market industry across APAC, North America, Europe, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of debt collection software market vendors

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1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Industry Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

5 Market Segmentation by Deployment

• 5.1 Market segments 
• Exhibit 25: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Deployment - Market share 2022-2027 (%)

• 5.2 Comparison by Deployment 
• Exhibit 27: Chart on Comparison by Deployment
• Exhibit 28: Data Table on Comparison by Deployment

• 5.3 On-premise - Market size and forecast 2022-2027
• Exhibit 29: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on On-premise - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on On-premise - Year-over-year growth 2022-2027 (%)

• 5.4 Cloud-based - Market size and forecast 2022-2027
• Exhibit 33: Chart on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Cloud-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Cloud-based - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Cloud-based - Year-over-year growth 2022-2027 (%)

• 5.5 Market opportunity by Deployment 
• Exhibit 37: Market opportunity by Deployment ($ million)

6 Market Segmentation by Industry Application

• 6.1 Market segments 
• Exhibit 38: Chart on Industry Application - Market share 2022-2027 (%)
• Exhibit 39: Data Table on Industry Application - Market share 2022-2027 (%)

• 6.2 Comparison by Industry Application 
• Exhibit 40: Chart on Comparison by Industry Application
• Exhibit 41: Data Table on Comparison by Industry Application

• 6.3 Small and medium enterprises - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Small and medium enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Small and medium enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Small and medium enterprises - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Small and medium enterprises - Year-over-year growth 2022-2027 (%)

• 6.4 Large enterprises - Market size and forecast 2022-2027
• Exhibit 46: Chart on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Large enterprises - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Large enterprises - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Industry Application
• Exhibit 50: Market opportunity by Industry Application ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 52: Chart on Market share by geography 2022-2027 (%)
• Exhibit 53: Data Table on Market share by geography 2022-2027 (%)

• 8.2 Geographic comparison 
• Exhibit 54: Chart on Geographic comparison
• Exhibit 55: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2022-2027
• Exhibit 56: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 8.4 Europe - Market size and forecast 2022-2027
• Exhibit 60: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 8.5 APAC - Market size and forecast 2022-2027
• Exhibit 64: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 8.6 South America - Market size and forecast 2022-2027
• Exhibit 68: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 8.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 72: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 75: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 8.8 US - Market size and forecast 2022-2027
• Exhibit 76: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 79: Data Table on US - Year-over-year growth 2022-2027 (%)

• 8.9 Germany - Market size and forecast 2022-2027
• Exhibit 80: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 83: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 8.10 Japan - Market size and forecast 2022-2027
• Exhibit 84: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 87: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 8.11 China - Market size and forecast 2022-2027
• Exhibit 88: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 91: Data Table on China - Year-over-year growth 2022-2027 (%)

• 8.12 UK - Market size and forecast 2022-2027
• Exhibit 92: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 95: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 8.13 Market opportunity by geography 
• Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape 
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 A4dable Software 
• Exhibit 103: A4dable Software - Overview
• Exhibit 104: A4dable Software - Product / Service
• Exhibit 105: A4dable Software - Key offerings

• 11.4 Analog Legalhub Technology Solutions Pvt. Ltd.
• Exhibit 106: Analog Legalhub Technology Solutions Pvt. Ltd. - Overview
• Exhibit 107: Analog Legalhub Technology Solutions Pvt. Ltd. - Product / Service
• Exhibit 108: Analog Legalhub Technology Solutions Pvt. Ltd. - Key offerings

• 11.5 Chetu Inc. 
• Exhibit 109: Chetu Inc. - Overview
• Exhibit 110: Chetu Inc. - Product / Service
• Exhibit 111: Chetu Inc. - Key offerings

• 11.6 Comtronic Systems LLC 
• Exhibit 112: Comtronic Systems LLC - Overview
• Exhibit 113: Comtronic Systems LLC - Product / Service
• Exhibit 114: Comtronic Systems LLC - Key offerings

• 11.7 DAKCS Software Systems Inc. 
• Exhibit 115: DAKCS Software Systems Inc. - Overview
• Exhibit 116: DAKCS Software Systems Inc. - Product / Service
• Exhibit 117: DAKCS Software Systems Inc. - Key offerings

• 11.8 DebtCol Software Pty. Ltd. 
• Exhibit 118: DebtCol Software Pty. Ltd. - Overview
• Exhibit 119: DebtCol Software Pty. Ltd. - Product / Service
• Exhibit 120: DebtCol Software Pty. Ltd. - Key offerings

• 11.9 Experian Plc 
• Exhibit 121: Experian Plc - Overview
• Exhibit 122: Experian Plc - Business segments
• Exhibit 123: Experian Plc - Key news
• Exhibit 124: Experian Plc - Key offerings
• Exhibit 125: Experian Plc - Segment focus

• 11.10 ezyCollect Pty. Ltd. 
• Exhibit 126: ezyCollect Pty. Ltd. - Overview
• Exhibit 127: ezyCollect Pty. Ltd. - Product / Service
• Exhibit 128: ezyCollect Pty. Ltd. - Key offerings

• 11.11 Fair Isaac Corp. 
• Exhibit 129: Fair Isaac Corp. - Overview
• Exhibit 130: Fair Isaac Corp. - Business segments
• Exhibit 131: Fair Isaac Corp. - Key news
• Exhibit 132: Fair Isaac Corp. - Key offerings
• Exhibit 133: Fair Isaac Corp. - Segment focus

• 11.12 Fidelity National Information Services Inc.
• Exhibit 134: Fidelity National Information Services Inc. - Overview
• Exhibit 135: Fidelity National Information Services Inc. - Business segments
• Exhibit 136: Fidelity National Information Services Inc. - Key news
• Exhibit 137: Fidelity National Information Services Inc. - Key offerings
• Exhibit 138: Fidelity National Information Services Inc. - Segment focus

• 11.13 Indigo Cloud Ltd. 
• Exhibit 139: Indigo Cloud Ltd. - Overview
• Exhibit 140: Indigo Cloud Ltd. - Product / Service
• Exhibit 141: Indigo Cloud Ltd. - Key offerings

• 11.14 PrimeSoft Solutions Inc. 
• Exhibit 142: PrimeSoft Solutions Inc. - Overview
• Exhibit 143: PrimeSoft Solutions Inc. - Product / Service
• Exhibit 144: PrimeSoft Solutions Inc. - Key offerings

• 11.15 Quantrax Corp. Inc. 
• Exhibit 145: Quantrax Corp. Inc. - Overview
• Exhibit 146: Quantrax Corp. Inc. - Product / Service
• Exhibit 147: Quantrax Corp. Inc. - Key offerings

• 11.16 Radixweb 
• Exhibit 148: Radixweb - Overview
• Exhibit 149: Radixweb - Product / Service
• Exhibit 150: Radixweb - Key offerings

• 11.17 receeve GmbH 
• Exhibit 151: receeve GmbH - Overview
• Exhibit 152: receeve GmbH - Product / Service
• Exhibit 153: receeve GmbH - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 154: Inclusions checklist
• Exhibit 155: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 156: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 157: Research methodology
• Exhibit 158: Validation techniques employed for market sizing
• Exhibit 159: Information sources

• 12.5 List of abbreviations 
• Exhibit 160: List of abbreviations

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