Portland, OR, Aug. 24, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe debt collection software market generated $794 million in 2016, and is estimated to reach $1.78 billion by 2025, registering a CAGR of 9.6% from 2018 to 2025. The report offers an extensive analysis of changing market trends, top winning strategies, business performance, pricing analysis, and competitive scenario.
The requirement of automation for debt collection & recovery processes, need to enhance the cash flow and reduce bad debt, and surge in efforts for omni-channel collection drive the growth of the European debt collection software market. However, high integration & implementation charges and difficulty occurred during tracking and identification of reconcile accounts hinder the market growth. On the other hand, increased demand for mobile applications, adoption of analytics in debt collection, and application of AI to make debt collection more user-friendly interface create new opportunities in the coming years.
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Impact of Covid-19 on Debt Collection Software Market in Europe:
- During the coronavirus pandemic, the real-time information about debt collection can be gained without visiting the bank. This increases the demand for software for few months.
- The IT industry has not been affected much by the Covid-19 pandemic. The development and maintenance of this software has been carried out during the global lockdown.
Get detailed COVID-19 impact analysis on the Europe Debt Collection Software Market
The report offers a detailed segmentation of the Europe debt collection software market based on component, deployment type, and region.
Based on component, the service segment contributed to the largest share in 2016, and is estimated to maintain its dominant position during the forecast period. However, the software segment is expected to register the highest CAGR from 2018 to 2025.
Based on the deployment type, the on-premise segment accounted for the largest share in 2016, and is expected to maintain the largest share throughout the forecast period. However, the cloud segment is estimated to portray the highest CAGR during the forecast period.
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Based on country, the U.K. contributed the highest share in 2016, and will maintain its dominance throughout the forecast period. However, the Netherlands is expected to grow at the highest CAGR of 15.2% from 2018 to 2025.
Leading market players analyzed in the research include Concent AS, Advantage Software Factory, Codix S.A., Altitude Software Solutions, EXUS, Atradius Collections, QUALCO, Scorto, Inc., Experian Information Solutions, Inc., Ferber-Software GmbH, Aptic, TIETO, Onguard, and BS Software GmbH.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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