United States debt collection software market is expected to grow at a formidable rate over the forecast period. Debt collection is defined as the process of tracking payments of debts which are owed by individuals or businesses. This software offers the customers a secure and convenient payment procedure. The key factor for the growth of United States debt collection software market is growing requirement for self-service payment models to speed up the collection process and automation in the debt collection process. Moreover, high demand for commercial & consumer debt recovery services across the BFSI sector is another major factor which is forecast to drive growth of financial institutions operating in the country, which in turn is bolstering the adoption of debt collection software in the country. However, one of the factors that might hamper the market growth during the forecast period are high integration and implementation cost.
The United States debt collection software market is segmented based on organization size, deployment mode, component, user type, region and company. Based on organization size, the market is bifurcated into large enterprises and small and medium-sized enterprises. Out of which, utility of the debt collection software in large enterprises is much higher when compared to that of small and medium-sized enterprises (SMEs). This high demand can be attributed to the benefits offered by debt collection to large scale organizations due to its affordability and economies of scale. In addition to this, surging requirement for multichannel communication as well as improvement in the collection process through automation is likely to boost the segment growth over the coming years.
Major players operating in the United States debt collection software market include FIS, FICO, TransUnion, Pegasystems, Chetu, Katabat, CGI, Temenos and others. Majority of the companies are using email, mobile consumer portals, phone and interactive text messages to contact their customers. With the help of debt collection software, the companies are assisting their clients in solving their debt challenges.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
- To analyze and forecast the market size of United States debt collection software market.
- To classify and forecast United States debt collection software market based on organization size, deployment mode, component, user type, company and regional distribution.
- To identify drivers and challenges for United States debt collection software market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in United States debt collection software market.
- To conduct pricing analysis for United States debt collection software market.
- To identify and analyze the profile of leading players operating in United States debt collection software market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the region.
TechSci Research calculated the market size of United States debt collection software market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Debt collection software service providers, vendors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to debt collection software
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, United States debt collection software market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Organization Size:
- Market, By Deployment Mode:
Telecom and Utilities
Company Profiles: Detailed analysis of the major companies present in United States debt collection software market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. United States Debt Collection Software Market Outlook
- 5.1. Market Size & Forecast
- 5.2. Market Share & Forecast
- 5.2.1. By Organization Size (Large Enterprises Vs Small and Medium-Sized Enterprises)
- 5.2.2. By Deployment Type (On-Premises and Cloud)
- 5.2.3. By Component (Software and Service)
- 5.2.4. By User Type (Financial Institutions, Collection Agencies, Healthcare, Government, Telecom and Utilities, Others)
- 5.2.5. By Region
- 5.2.6. By Company (2018)
- 5.3. Market Attractiveness Index
6. Northeast United States Debt Collection Software Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Organization Size
- 6.2.2. By Component
- 6.2.3. By User Type
7. Midwest United States Debt Collection Software Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Organization Size
- 7.2.2. By Component
- 7.2.3. By User Type
8. West United States Debt Collection Software Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Organization Size
- 8.2.2. By Component
- 8.2.3. By User Type
9. South United States Debt Collection Software Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Organization Size
- 9.2.2. By Component
- 9.2.3. By User Type
10. Market Dynamics
- 10.1. Drivers
- 10.2. Challenges
11. Market Trends & Developments
12. Policy & Regulatory Landscape
13. United States Economic Profile
14. Competitive Landscape
- 14.1. FIS
- 14.2. FICO
- 14.3. TransUnion
- 14.4. Pegasystems
- 14.5. Chetu
- 14.6. Katabat
- 14.7. CGI
- 14.8. Temenos
15. Strategic Recommendations
16. About Us & Disclaimer