Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Loan Management Software Market 2024" report has been added to ResearchAndMarkets.com's offering.
This Loan Management Software market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. North America was the largest region in the loan management software market in 2023.
The loan management software market size has grown exponentially in recent years. It will grow from $8.49 billion in 2023 to $10.22 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth during the historic period can be attributed to several factors including an increase in government initiatives, greater adoption of loan servicing software, expansion in the financial services industry, improved efficiency in lending operations, and heightened concerns about data security.
The loan management software market size is expected to see exponential growth in the next few years. It will grow to $21.62 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth during the forecast period can be attributed to several factors, such as the increasing adoption of loan management, a rise in mobile users, a growing demand for automated loan origination and processing, a push towards digitalization, a heightened focus on customer experience, and improved risk management.
Key trends for this period include advancements in technology, the integration of artificial intelligence (AI) and machine learning (ML), innovations in cloud technology, greater use of data analytics and business intelligence tools, and the development of more personalized loan products.
The increasing importance of digitalization is projected to drive the growth of the loan management software market. For example, in February 2024, a report from gov.UK, a UK-based government website, indicated that the digital sector contributed $171.25 million to the UK economy in 2022, representing 7.2% of the total UK gross value added (GVA), a slight increase from 7.1% in 2021. Hence, the growing importance of digitalization is fueling the expansion of the loan management software market.
Leading companies in the loan management software market are concentrating on technological advancements, including AI-powered lending automation and decision management tools, to boost the accuracy and efficiency of loan processing. For instance, in June 2024, CompassWay, a US-based fintech company, launched a sophisticated loan management software designed for small business lending. This software leverages advanced algorithms, analytics, AI, and machine learning to automate and streamline the lending process, allowing lenders to handle applications more efficiently while reducing errors and enhancing regulatory compliance. It provides a comprehensive suite of solutions covering all stages of the loan lifecycle, from origination to servicing and debt collection.
Research Scope
Markets Covered:
1) By Component: Solution; Service
2) By Deployment Mode: On-Premise; Cloud
3) By Enterprise Size: Large Enterprises; Small And Medium-sized Enterprises
4) By Application: Cash and Liquidity Management; Risk Management; Collateral Management; Loan Origination and Servicing; Other Applications
5) By End-User: Banks; Credit Unions; Non-Banking Financial Companies (NBFCs); Other End-Users
Key Companies Mentioned: Finflux; Fidelity National Information Services Inc.; Finastra Group Holdings Ltd.; CyrusOne Inc.; Lendio Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $10.22 Billion |
| Forecasted Market Value (USD) by 2028 | $21.62 Billion |
| Compound Annual Growth Rate | 20.6% |
| Regions Covered | Global |
The major companies profiled in this Loan Management Software market report include:
- Finflux
- Fidelity National Information Services Inc.
- Finastra Group Holdings Ltd.
- CyrusOne Inc.
- Lendio Inc.
- Nelito Systems Pvt. Ltd.
- Allcloud Enterprise Solutions Private Limited
- Mambu GmbH
- TurnKey Lender Inc.
- LoanPro Software LLC
- Zoot Enterprises Inc.
- Calyx Software Inc.
- Shaw Systems Associates LLC
- Aryza Holdings Limited
- Nortridge Software Inc.
- Provenir Inc.
- LendingPad Corporation
- Infinity Enterprise Lending Systems
- Temenos AG
- Bryt Software
For more information about this report visit https://www.researchandmarkets.com/r/nlj08j
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