New York, NY, April 11, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Credit Management Software Market by Deployment Type (On-Premises, and Cloud), by Service Type (Consulting, Operation & Maintenance, and System Integration), by Organization Size (Small & Medium Enterprises, and Large Enterprises) Global Industry Analysis, Size, Share, Growth, Trends, and forecast 2016 – 2025”.
According to the report, global credit management software market was valued at around USD 1,620.00 million in the year 2016 and is expected to reach over USD 2,550.00 million by the end of 2025 growing at a CAGR of more than 5.50% between 2017 and 2025.
Browse through 80 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Credit Management Software Market Size, Share, Analysis and Forecast 2016 – 2022”.
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Market Report Highlights
- The increasing adoption of the credit management software by small and medium enterprises has fostered the growth of the credit management software market over the forecast period.
- By deployment, the cloud segment held the largest market share of 58.10% in 2016 and valued at around USD 944.65 million. Increasing demand for cloud-based credit management software is owing to the benefits offered by cloud-based credit management software over on-premise based credit management software. This is expected to trigger the growth of cloud segment over the forecast period.
- The consulting segment contributed a prominent share in the global credit management software market in 2016. It is expected that the consulting segment will register CAGR growth of more than 5.5% over the forecasted period By organization size, large enterprises segment contributed the highest share of more than 66% in 2016. Whereas small & medium enterprises segment is estimated to grow at the highest CAGR of approximately more than 6% over the forecast period.
- Asia Pacific is anticipated to grow with the highest CAGR of around 6.50% over the forecasted period. Europe is expected to continue its dominance in the global credit management software market due to the technological advancements and well-established infrastructure.
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According to the analysis, the credit management software market will have a significant contribution from the large enterprises segment. The large enterprises segment will grow with a CAGR of 5.56% from 2017 to 2025. The large enterprises contributed USD 1,079.14 million in 2016 and it is expected to reach USD 1,670.60 million by 2025. As credit management software provides advantages such efficiency in credit management, better cash flow management, maximum insights pertaining to customer behavior, and much more its popularity is increasing amongst the organizations.
Increasing awareness about the benefits of using automation and dedicated software has triggered the growth of the credit management software market. Credit management software provides a certain set of advantages such as efficiency in credit record management, better cash flow management, maximum insights pertaining to customer behavior, and much more. Owing to these benefits a wide range of companies belonging to various sectors such as telecom, healthcare, manufacturing, information technology, and electronics are implementing the credit management software. The organizations are increasingly adopting credit management software as it provides key insights into the movement of the invoices for several transactions taking place within or outside the company thus increasing its popularity.
Browse the full “Credit Management Software Market by Deployment Type (On-Premises and Cloud); by Service Type (Consulting, Operation & Maintenance, and System Integration); by Organization Size (Small & Medium Enterprises and Large Enterprises) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025” report at https://www.zionmarketresearch.com/report/credit-management-software-market
By deployment type, the cloud segment dominated the credit management software market. The cloud segment contributed the highest market share of over 58.10% in 2016. It is anticipated that this segment will retain its dominance during the forecast period owing to its increased CAGR of around 5.5%. The cloud-based solutions primarily offer online credit application, collaborative workflow, data aggregation, and easy retrieval and storage of credit data that can be accessed from any remote location. Hence cloud-based credit management software is being widely adopted by the organizations.
By service type, the consulting segment held the largest market share of more than 50% in the global credit management software market. There is an increased demand for the consulting services of the credit management software owing to the growing adoption of the software among the small and medium enterprises. However, it is anticipated that the operation and the maintenance services segment will register the highest CAGR growth in the coming years.
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Asia Pacific is expected to grow at the highest CAGR of 6.50% over the forecast period. Heavy investments by international companies in the Asia Pacific region owing to cheap labor has to lead to rapid industrialization over the last decade which, in turn, has increased the adoption of the credit management software in various organizations. Europe held the highest market share of 32.16% in 2016 and is anticipated to grow with a steady CAGR over the forecast period.
The major market players in the global credit management software market are High Radius, Rimilia, Solutions for Financials B.V., SOPLEX Consult GmbH, Equiniti, Esker, HanseOrga Group, Innovation Software Limited, Misys, Onguard, and Prof. Schumann GmbH, among others.
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The Credit Management Software Market has been segmented on the basis of type, function, industry, and geographical regions.
Global Credit Management Software Market: Deployment Type Segment Analysis
- On-Premises
- Cloud
Global Credit Management Software Market: Service-Type Segment Analysis
- Consulting
- Operation & Maintenance
- System Integration
Global Credit Management Software Market: Organization Size Type Segment Analysis
- Small & Medium Enterprises
- Large Enterprises
Global Credit Management Software Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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