Debt Collection Software Market

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

Report Code: TC 6578 Sep, 2018, by marketsandmarkets.com

[143 Pages Report] The global debt collection software market to grow from USD 2.39 billion in 2017 to USD 3.73 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period. The forecast period is considered from 2018 to 2023, wherein 2017 has been considered as the base year for estimating the market size.

Objectives of the Study:

The major objective of this report is to define, describe, and forecast the debt collection software market by component, end-user, deployment type, organization size, and region. The report provides detailed information related to the major factors (drivers, restraints, opportunities, and industry-specific challenges), influencing the market growth. The report forecasts the market size with respect to 5 key regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. The report profiles the key players and comprehensively analyzes their core competencies. Moreover, this report tracks and analyzes competitive developments, such as mergers and acquisitions, partnerships and collaborations, new product developments, and enhancements activities, in the market.

The research methodology used to estimate and forecast the debt collection software market began with the collection and analysis of the data on the key vendors’ product offerings and business strategies from the secondary sources. These secondary sources include Information Technology (IT) services providers; technology providers; press releases; investor presentations of companies; white papers; technology journals; certified publications and articles from recognized authors; directories and databases, such as D&B Hoovers, Bloomberg Businessweek, and Factiva. Moreover, vendor offerings have been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the total market size of the debt collection software market from the revenue of the key market solutions and services providers. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through the primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives.

Debt Collection Software Market

To know about the assumptions considered for the study, download the pdf brochure

Industry Ecosystem

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).

Key Target Audience of Debt Collection Software Market

  • Global debt collection software providers
  • Professional services providers
  • Government and research organizations
  • Information Technology (IT) companies
  • Cloud services providers
  • System integrators
  • Resellers and distributors
  • Investor and venture capitalists
  • Associations and industrial bodies

Scope of the Report

The research report categorizes the debt collection market to forecast revenues and analyze trends in each of the following submarkets:

By Component

  • Software
  • Services

By Service

  • Consulting
  • Implementation
  • Training and support

By End-users

  • Banks
  • Collection agencies
  • Finance companies
  • Consumer goods and retail
  • Telecom and utilities
  • Healthcare
  • Others (law firms and government institutions)

By Deployment Type

  • On-premises
  • Cloud

By Organization Size

  • Large enterprises
  • SMEs

Debt Collection Market By Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • APAC
    • Australia and New Zealand
    • Japan
    • China
    • Rest of APAC
  • MEA
    • Kingdom of Saudi Arabia
    • South Africa
    • United Arab Emirates
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American debt collection software market into countries
  • Further breakdown of the European market into countries
  • Further breakdown of the APAC market into countries
  • Further breakdown of the MEA market into countries
  • Further breakdown of the Latin American market into countries

Company Information

  • Detailed analysis and profiling of additional market players

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% during the forecast period, owing to the growing need to provide customer-centric debt collection management and the increasing requirement of self-service models to speed up the collection process.

Debt volume and risks are increasing globally, owing to the increased consumer borrowing and spending behavior. With the significant increase in debts, organizations across industry verticals are facing difficulties in the collection of debts from consumers. Debt collection organizations and agencies across the globe are deploying robust debt collection software to enhance their collection management process and optimize the recovery time. These software enable money lending organizations to effectively track expected payments and obtain statistical cash forecast. Debt collection requires experienced collectors who manage their debtors’ accounts, handle their queries, and fairly guide them to pay the debts on time. Moreover, debt collection software help debt collection agencies to enhance the customer experience by offering a digital self-service platform, which enables them to make payment against debts on time.

The growing need for customer-centric debt collection approach is expected to create ample opportunities for debt collection software providers. Dependency on debtor’s dynamic information and governments’ stringent rules and regulations for debt recovery process, such as Fair Debt Collection Practices Act (FDCPA) and Federal Trade Commission (FTC), are expected to be pose a challenge for the debt collection software providers.

The on-premises segment is expected to hold the larger market share during the forecast period, owing to the inclination of organizations to adopt in-house infrastructure. The concern over data privacy and security is a major reason for the larger market size of the on-premises segment. The cloud segment is expected to grow at a higher CAGR during the forecast period, owing to the advantages of the cloud technology, such as agility, scalability, reduced operational costs, flexible payment options, easy access to data, and self-service capabilities, as compared to the on-premises segment.

Debt Collection Software Market

North America is expected to account for the largest market size and projected to dominate the debt collection software market during the forecast period. The aggressive adoption of technologies by organizations in the region has created huge potential for debt collection software providers in the past decade, and the region is expected to dominate during the forecast period. However, Asia Pacific (APAC) is expected to provide opportunities for debt collection software providers and grow at the highest CAGR during the forecast period. These growth opportunities can be attributed to the increasing commercial investments by organizations in the arena of debt collection, owing to the increased need for effective debt management and recovery in APAC.

Major vendors offering debt collection software solutions 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). These vendors have adopted several organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their offerings and enhance their presence in the global debt collection software market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    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 (Page No. - 18)
    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 (Page No. - 25)

4 Premium Insights (Page No. - 29)
    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 (Page No. - 33)
    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 Enterprises 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 (Page No. - 38)
    6.1 Introduction
    6.2 Software
    6.3 Services

7 Market By Service (Page No. - 42)
    7.1 Introduction
    7.2 Professional Services
    7.3 Managed Services

8 Debt Collection Software Market, By Professional Service (Page No. - 46)
    8.1 Introduction
    8.2 Implementation
    8.3 Consulting
    8.4 Training and Support

9 Market By End-User (Page No. - 50)
    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 (Page No. - 57)
     10.1 Introduction
     10.2 Large Enterprises
     10.3 Small and Medium-Sized Enterprises

11 Market By Deployment Type (Page No. - 61)
     11.1 Introduction
     11.2 On-Premises
     11.3 Cloud

12 Debt Collection Software Market, By Region (Page No. - 65)
     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 (Page No. - 89)
     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 (Page No. - 95)
(Business Overview, Products and Solutions Offered, Recent Developments, SWOT Analysis, MnM View)*
     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

*Details on Business Overview, Products and Solutions Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 137)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ 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 Collection 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


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Report Code
TC 6578
Published ON
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