LONDON--(BUSINESS WIRE)--The global loan servicing software market size is poised to grow by USD 446.54 million during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 12% during the forecast period.
Read the 127-page research report with TOC on "Next Generation Sequencing Market Analysis Report by deployment (on-premise and cloud), and geography (APAC, North America, Europe, South America, and MEA) 2019 - 2023" at:
The market is driven by the increasing demand for efficiency in lending operations. In addition, the rise in adoption of cloud-based loan servicing software is expected to further boost the growth of the loan servicing software market.
The increasing demand for efficiency in lending operations is the major reason for the growth of the loan servicing software market. Earlier lending operations were carried out manually with minimal technological support, which made them complex and time-consuming. The need to drive efficiency in the process has led banking and financial institutions to adopt digital technology solutions, such as loan origination software, loan management software, loan analytics software, and loan servicing software solutions. Such solutions which help to streamline their processes and save time will lead to market growth.
The adoption of cloud computing solutions is increasing significantly across the world, owing to the flexibility and cost benefits associated with cloud services. As a result, vendors in the market have started to introduce cloud-based loan servicing software. The cloud-based loan servicing software offers benefits such as quick implementation, improved customer experience, and data accessibility. Thus, the rise in adoption of cloud-based loan servicing software will drive market growth during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Applied Business Software Inc.
- AutoPal Software LLC
- Fidelity National Information Services Inc.
- Financial Industry Computer Systems Inc.
Market Segmentation by Deployment:
The loan servicing software market can be broadly categorized into the following segments:
Key Regions for the Loan servicing software Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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