The Factoring Services Market size was valued at USD 3,682.74 billion in 2023 and is expected to grow to USD 6,049.28 Billion By 2031 and grow at a CAGR of 6.4% over the forecast period of 2024-2031.
The Factoring Services Market provides businesses with immediate cash flow by selling their accounts receivables to financial institutions. This service is especially beneficial for SMEs seeking to manage working capital and reduce credit risks.
Market growth is driven by increasing globalization, the rise of small businesses, and the demand for alternative financing solutions. Leading players include Bibby Financial Services, Hitachi Capital, and Eurobank.
As businesses navigate economic uncertainties, factoring services offer a reliable financial solution, propelling market growth in the coming years.
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