LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global loan servicing software market is expected to accelerate at a CAGR of over 14% during the forecast period. Need for automated process is one of the key factors triggering the growth of the market.
This research report titled ‘Global Loan Servicing Software Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global loan servicing software market into the following geographical regions:
In 2016, the Americas accounted for 45% of the global market and is projected to decline to 37% by 2021, exhibiting almost 8% decrease in market share.
Global loan servicing software market: Top emerging trend
Emergence of SaaS-based loan servicing is an emerging trend in the enterprise application space. The global loan servicing software market is currently witnessing the emergence of SaaS-based loan servicing software. SaaS-based loan servicing software enables loan originators to manage the entire lending cycle from commencement to maturity from any location with a secure internet connection. With the emergence of cloud computing, many companies are attempting to move their customer loan-related data to a hosted system. SaaS-based loan servicing software is effective as the installation and maintenance of such solutions does not require any extra cost. The major end-users for these solutions are credit unions and peer-to-peer lenders. SaaS-based loan servicing software also eliminates the need for IT staff to patch servers or upgrade the software. Therefore, many vendors are offering flexible payment options to customers in line with their use of SaaS-based loan servicing software.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global Loan Servicing Software Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, EMEA)
- Key leading countries
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (FICS, Fiserv, Mortgage Builder, Nortridge Software, Shaw Systems Associates)
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