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LONDON, GREATER LONDON, UNITED KINGDOM, June 30, 2025 /EINPresswire.com/ -- Save 30% On All Global Market Reports With Code ONLINE30 – Stay Informed On Tariff Changes, Macroeconomic Trends, And More.
How Big Is The Global Debt Collection Agencies Market Expected To Grow?
The debt collection agencies market size has grown steadily in recent years. Witnessing an increase from $29.35 billion in 2024 to an expected $30.38 billion in 2025, the compound annual growth rate CAGR stands at 3.5%. This growth can be attributed to several factors, prominent among which are rising consumer debt levels, economic downturns, the growth in unsecured loans, expansion of credit access, and the increasing requirements of regulatory compliance.
What Is Its Annual Growth Rate?
Continuing the trend, the debt collection agencies market size is expected to see steady growth in the next few years, reaching $34.51 billion in 2029 at a CAGR of 3.2%. This forecasted growth can be traced back to an uptake in digital commerce, increased lending by financial institutions, greater usage of credit cards, international debt recovery measures, and increased lending by financial institutions. The future also holds substantial technological transformations such as advanced workflow automation, integration of artificial intelligence and machine learning in debt collection strategies, advanced tracking systems, and cloud computing technology.
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What Is Driving The Growth Of The Debt Collection Agencies Market?
Adding fuel to the growth of the debt collection agencies market are escalating consumer debt levels. As growing living expenses, easier access to credit, and a post-pandemic reliance on loans drive up consumer debt levels, debt collection agencies increasingly come into play, pursuing unpaid debts from credit cards, personal loans, and medical bills on behalf of creditors, thereby aiding in the recovery of funds that would otherwise remain unpaid.
Which Leading Companies Are Driving The Growth Of The Debt Collection Agencies Market Share?
Major companies operating in the debt collection agencies market are Bertelsmann SE & Co. KGaA, Experian plc, Atradius Collections B.V., Alorica Inc., Intrum AB, Midland Credit Management Inc., Encore Capital Group Inc., PRA Group Inc., Transworld Systems Inc., Altus Group Limited, KRUK Group, Lowell Financial Ltd., IC System Inc., CBE Group Inc., Convergent Outsourcing Solutions Inc., Link Financial Outsourcing Ltd., Asta Funding Inc., coeo Inkasso GmbH, EOS Group Inc., Bierens Incasso Advocaten N.V., Prestige Services Inc.
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What Are The Key Trends Of The Debt Collection Agencies Market?
In order to maintain an edge in the market, major companies are turning their focus to developing innovative technologies, such as debt collection platforms, to enhance efficiency and improve recovery rates. Debt collection platforms are software solutions that assist debt collection agencies and businesses in managing and automating the debt recovery process.
How Is The Global Debt Collection Agencies Market Segmented?
The debt collection agencies market included in this report is segmented by agency type, debt type and application. The agency types are First-Party Agencies, Third-Party Agencies, Sale Of Debts. The debt types covered include Bad Debt, Early Out Debt. The applications encompass Financial Services, Healthcare, Student Loans, Government, Retail, Telecom And Utility, Mortgage, Other Applications.
What Are The Leading Region In The Debt Collection Agencies Market?
Regionally, North America emerged as the largest market for debt collection agencies in 2024, and Asia-Pacific is projected to be the fastest-growing region in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, covering countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, and Spain.
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