Insolvency Software Market by Offering (Solutions, Services), Organization Size (Large Enterprises, & SMEs), Application (Document Management, Financial Transaction Management, Reporting, Compliance, Creditor Management), Vertical - Global Forecast to 2028
The Insolvency Software market is projected to grow from USD 1.5 billion in 2023 to USD 2.4 billion by 2028, at a CAGR of 10.4% during the forecast period, according to MarketsandMarkets. Increasing demand for automated tools to make well-informed decisions in insolvency cases will accelerate market growth. Businesses are increasingly using automation and digital tools to improve insolvency processes. This involves speeding up procedures, reducing administrative workloads, enhancing accuracy, utilizing data analytics for better decision-making, facilitating communication and collaboration among stakeholders, ensuring compliance, cutting costs, streamlining document management, automating workflows, and achieving more efficient and successful insolvency outcomes.
“By Organization Size, the large enterprise segment is expected to hold the largest market size during the forecast period.”
Large enterprises are the early adopters of insolvency software. Though large enterprises have the necessary budgets to use the on-premises deployment mode, they are moving toward the cloud deployment mode to avail features such as increased availability, high scalability, and low cost of deployment. The heterogeneous IT environment and the inability of the IT systems to communicate with each other are the chief reasons for the increasing deployment of insolvency software by large enterprises. The demand for insolvency software in large enterprises arises from the necessity to handle intricate insolvency and bankruptcy cases efficiently and compliantly.
“By Vertical, the BFSI segment is expected to grow with the highest CAGR during the forecast period.”
Given the unique demands and complexities of insolvency cases within this sector, the BFSI (Banking, Financial Services, and Insurance) segment is a key area of focus for insolvency software. Insolvency software tailored to the BFSI segment provides a range of specialized features and functionalities to address the specific needs of financial institutions, credit providers, and insurance companies facing insolvency situations. The BFSI vertical has been one of the early adopters of insolvency software solutions.
“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”
The APAC region comprises major economies such as China, India, Japan, and Australia. The region is expected to grow the fastest in terms of insolvency software and services deployment. Growing industrialization and increased competition have proved to be one of the biggest drivers for the insolvency software market in this region.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
Research Coverage
The report segments the global Insolvency Software market by offering into two categories: solutions and services. The service segment is divided into five categories: Professional Services and Management Services. By applications into six categories: Document Management, Reporting, Compliance, Financial Transaction Management, Creditor Management, Others, and Others. By vertical into seven categories: IT and Telecommunication, Government, BFSI, Manufacturing, Energy and Utilities, Retail, and Other Verticals. The market has been segmented by region into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Key benefits of the report
The report would help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Insolvency Software market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to position their businesses better and plan suitable go-to-market strategies. The report would help stakeholders understand the market’s pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Increasing adoption of digitalized tools within various industries, The increasing number of bankruptcy cases, cost-effectively managing insolvency cases, Increasing demand for automated tools to make well-informed decisions in insolvency cases), restraints ( Resistance to adopting new technologies and processes, can hinder software adoption.), opportunities ( Ongoing trend for digitalization in the IT industry), and challenges (Lack of data privacy and safety is a threat in this market, Regulatory compliance can be challenging in insolvency software market) influencing the growth of the Insolvency Software market.
“By Organization Size, the large enterprise segment is expected to hold the largest market size during the forecast period.”
Large enterprises are the early adopters of insolvency software. Though large enterprises have the necessary budgets to use the on-premises deployment mode, they are moving toward the cloud deployment mode to avail features such as increased availability, high scalability, and low cost of deployment. The heterogeneous IT environment and the inability of the IT systems to communicate with each other are the chief reasons for the increasing deployment of insolvency software by large enterprises. The demand for insolvency software in large enterprises arises from the necessity to handle intricate insolvency and bankruptcy cases efficiently and compliantly.
“By Vertical, the BFSI segment is expected to grow with the highest CAGR during the forecast period.”
Given the unique demands and complexities of insolvency cases within this sector, the BFSI (Banking, Financial Services, and Insurance) segment is a key area of focus for insolvency software. Insolvency software tailored to the BFSI segment provides a range of specialized features and functionalities to address the specific needs of financial institutions, credit providers, and insurance companies facing insolvency situations. The BFSI vertical has been one of the early adopters of insolvency software solutions.
“Asia Pacific is expected to grow with the highest CAGR during the forecast period.”
The APAC region comprises major economies such as China, India, Japan, and Australia. The region is expected to grow the fastest in terms of insolvency software and services deployment. Growing industrialization and increased competition have proved to be one of the biggest drivers for the insolvency software market in this region.
Breakdown of primaries
The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:
- By Company: Tier 1–62%, Tier 2–23%, and Tier 3–15%
- By Designation: C-Level Executives–38%, Directors–30%, and Others–32%
- By Region: North America–40%, Europe–15%, Asia Pacific–35%, Middle East and Africa–5%, Latin America–5%,
Research Coverage
The report segments the global Insolvency Software market by offering into two categories: solutions and services. The service segment is divided into five categories: Professional Services and Management Services. By applications into six categories: Document Management, Reporting, Compliance, Financial Transaction Management, Creditor Management, Others, and Others. By vertical into seven categories: IT and Telecommunication, Government, BFSI, Manufacturing, Energy and Utilities, Retail, and Other Verticals. The market has been segmented by region into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Key benefits of the report
The report would help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Insolvency Software market and the subsegments. This report would help stakeholders understand the competitive landscape and gain insights to position their businesses better and plan suitable go-to-market strategies. The report would help stakeholders understand the market’s pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
Analysis of key drivers (Increasing adoption of digitalized tools within various industries, The increasing number of bankruptcy cases, cost-effectively managing insolvency cases, Increasing demand for automated tools to make well-informed decisions in insolvency cases), restraints ( Resistance to adopting new technologies and processes, can hinder software adoption.), opportunities ( Ongoing trend for digitalization in the IT industry), and challenges (Lack of data privacy and safety is a threat in this market, Regulatory compliance can be challenging in insolvency software market) influencing the growth of the Insolvency Software market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product and service launches in the Insolvency Software market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the Insolvency Software market across varied regions.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the Insolvency Software market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.4 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES, 2020–2022
1.6 STAKEHOLDERS
1.7 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 INSOLVENCY SOFTWARE MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primary interviews
TABLE 2 PRIMARY INTERVIEWS
2.1.2.2 Key industry insights
2.2 MARKET FORECAST
TABLE 3 FACTOR ANALYSIS
2.3 MARKET SIZE ESTIMATION
FIGURE 2 APPROACH 1 (SUPPLY-SIDE): REVENUE OF OFFERINGS IN INSOLVENCY SOFTWARE MARKET
FIGURE 3 APPROACH 2 (DEMAND-SIDE): INSOLVENCY SOFTWARE MARKET
2.3.1 BOTTOM-UP APPROACH
FIGURE 4 BOTTOM-UP APPROACH FRAMEWORK
FIGURE 5 MARKET SIZE ESTIMATION PROCESS USING BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 6 TOP-DOWN APPROACH FRAMEWORK
2.4 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.5 STUDY ASSUMPTIONS
2.6 LIMITATIONS AND RISK ASSESSMENT
2.7 RECESSION IMPACT ON INSOLVENCY SOFTWARE MARKET
3 EXECUTIVE SUMMARY
FIGURE 8 INSOLVENCY SOFTWARE MARKET, 2023–2028 (USD MILLION)
FIGURE 9 INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023 VS. 2028 (USD MILLION)
FIGURE 10 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023 VS. 2028 (USD MILLION)
FIGURE 11 INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION)
FIGURE 12 INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)
FIGURE 13 INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023 VS. 2028 (USD MILLION)
FIGURE 14 INSOLVENCY SOFTWARE MARKET, BY REGION, 2023
4 PREMIUM INSIGHTS
4.1 GROWTH OPPORTUNITIES FOR INSOLVENCY SOFTWARE MARKET PLAYERS
FIGURE 15 EXPANDING USE OF DIGITALIZED SOLUTIONS AND NEED FOR DATA SECURITY TO DRIVE MARKET GROWTH
4.2 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING AND VERTICAL
FIGURE 16 INSOLVENCY SOFTWARE SOLUTIONS TO ACCOUNT FOR LARGER MARKET IN NORTH AMERICA IN 2023
4.3 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY OFFERING AND VERTICAL
FIGURE 17 BFSI TO BE LARGEST VERTICAL IN ASIA PACIFIC IN 2023
4.4 EUROPE: INSOLVENCY SOFTWARE MARKET, BY OFFERING AND VERTICAL
FIGURE 18 BFSI AND SOLUTIONS TO ACCOUNT FOR LARGEST SEGMENTS IN EUROPE IN 2023
4.5 GEOGRAPHICAL SNAPSHOT OF INSOLVENCY SOFTWARE MARKET
FIGURE 19 ASIA PACIFIC TO ACHIEVE HIGHEST GROWTH DURING FORECAST PERIOD
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 MARKET OVERVIEW
5.2 MARKET DYNAMICS
FIGURE 20 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: INSOLVENCY SOFTWARE MARKET
5.2.1 DRIVERS
5.2.1.1 Increase in adoption of digitalization within financial industry
5.2.1.2 Rise in number of bankruptcy cases
5.2.1.3 Need for cost-effective and efficient solution to process volume without additional headcount
5.2.1.4 Growth in demand for automated tools to make well-informed decisions
5.2.2 RESTRAINTS
5.2.2.1 Resistance to shift away from legacy systems
5.2.3 OPPORTUNITIES
5.2.3.1 Ongoing trend for digitalization in IT industry
5.2.3.2 Increase in automation to boost adoption of emerging technology
5.2.3.3 Rise in demand for software automation and innovative applications
5.2.4 CHALLENGES
5.2.4.1 Lack of data privacy and safety
5.2.4.2 Maintaining compliance in changing regulatory landscape
5.2.4.3 Need for third-party providers to enable and manage technology and hosting aspects
5.3 INDUSTRY TRENDS
5.3.1 BRIEF HISTORY OF INSOLVENCY SOFTWARE MARKET
FIGURE 21 BRIEF HISTORY OF INSOLVENCY SOFTWARE
5.3.1.1 Early software solutions and transition to Windows-based software
5.3.1.2 Integration of legal research
5.3.1.3 Automation and workflow management
5.3.1.4 Cloud-based advanced analytics solutions
5.3.1.5 Data privacy and safety concerns
5.3.1.6 Enhancement in software with new emerging technologies
5.3.2 BEST PRACTICES IN INSOLVENCY SOFTWARE MARKET
5.3.3 VALUE CHAIN ANALYSIS
FIGURE 22 INSOLVENCY SOFTWARE MARKET: VALUE CHAIN ANALYSIS
5.3.4 ECOSYSTEM MAPPING
FIGURE 23 INSOLVENCY SOFTWARE ECOSYSTEM
TABLE 4 INSOLVENCY SOFTWARE MARKET: ECOSYSTEM
5.3.5 PATENT ANALYSIS
5.3.5.1 Methodology
5.3.5.2 Document type
TABLE 5 PATENTS FILED, 2020–2023
5.3.5.3 Innovation and patent applications
FIGURE 24 TOTAL NUMBER OF PATENTS GRANTED, 2020–2023
5.3.5.4 Top applicants
FIGURE 25 TOP TEN PATENT APPLICANTS, 2020–2023
5.3.6 USE CASES
5.3.6.1 Aryza Dunning improved Louwman Dealer Group’s debt management system
5.3.6.2 Stretto helped Crosby & Fox better its communication systems
5.3.6.3 Stretto offered Richard West Law Office its Best Case solution for efficient case-filing
5.3.6.4 Stretto’s solutions streamlined Nelson Law Office’s functionalities
5.3.7 PRICING ANALYSIS
5.3.7.1 Indicative pricing analysis of key players
TABLE 6 PRICING ANALYSIS
5.3.7.2 Average selling price trend
5.3.8 TYPE OF CHAPTERS IN INSOLVENCY SOFTWARE
5.3.8.1 Chapter 7
5.3.8.2 Chapter 11
5.3.8.3 Chapter 12
5.3.8.4 Chapter 13
5.3.8.5 Chapter 15
FIGURE 26 US: BANKRUPTCY FILINGS, BY TYPE, 2018–2023
5.3.9 INSOLVENCY SOFTWARE MARKET: COUNTRY-LEVEL OUTLOOK
5.3.9.1 India
5.3.9.2 US
5.3.9.3 Canada
5.3.9.4 European Countries
5.3.10 TECHNOLOGY ANALYSIS
5.3.10.1 Adjacent technologies
5.3.11 PORTER’S FIVE FORCES ANALYSIS
TABLE 7 INSOLVENCY SOFTWARE MARKET: PORTER’S FIVE FORCES MODEL
5.3.11.1 Threat of new entrants
5.3.11.2 Threat of substitutes
5.3.11.3 Bargaining power of buyers
5.3.11.4 Bargaining power of suppliers
5.3.11.5 Intensity of competitive rivalry
5.3.12 DISRUPTIONS IMPACTING BUYERS/CUSTOMERS IN INSOLVENCY SOFTWARE MARKET
FIGURE 27 DISRUPTION TRENDS IMPACTING BUYERS/CUSTOMERS IN MARKET
5.3.13 REGULATORY LANDSCAPE
5.3.13.1 International Organization for Standardization 27001
5.3.13.2 Basel Committee on Banking Supervision
5.3.13.3 DODD-FRANK Act
5.3.13.4 Health Insurance Portability and Accountability Act
5.3.13.5 General Data Protection Regulation
5.3.13.6 Markets in Financial Instruments Directive
5.3.13.7 Financial Industry Information Systems
TABLE 8 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.3.14 KEY CONFERENCES & EVENTS
TABLE 13 DETAILED LIST OF CONFERENCES & EVENTS, 2023–2024
5.3.15 KEY STAKEHOLDERS & BUYING CRITERIA
5.3.15.1 Key stakeholders in buying process
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
5.3.15.2 Buying criteria
FIGURE 29 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
TABLE 15 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
5.3.16 FUTURE DIRECTION OF INSOLVENCY SOFTWARE MARKET
5.3.16.1 Insolvency software roadmap till 2030
5.3.16.2 Short-term roadmap (2023–2025)
5.3.16.3 Mid-term roadmap (2026–2028)
5.3.16.4 Long-term roadmap (2029–2030)
6 INSOLVENCY SOFTWARE MARKET, BY OFFERING
6.1 INTRODUCTION
6.1.1 OFFERING: INSOLVENCY SOFTWARE MARKET DRIVERS
FIGURE 30 INSOLVENCY SOFTWARE SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 16 INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 17 INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
6.2 SOLUTIONS
6.2.1 RISE IN NEED TO HELP INDIVIDUALS AND BUSINESSES MANAGE DEBTS AND COMPLY WITH LEGAL REQUIREMENTS
TABLE 18 INSOLVENCY SOFTWARE SOLUTIONS MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 19 INSOLVENCY SOFTWARE SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3 SERVICES
FIGURE 31 MANAGED SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 20 INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 21 INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 22 INSOLVENCY SOFTWARE SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 23 INSOLVENCY SOFTWARE SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1 PROFESSIONAL SERVICES
6.3.1.1 Need to streamline management of cases to aid legal experts, insolvency practitioners, and entities
FIGURE 32 SUPPORT & MAINTENANCE SERVICES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 24 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 25 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 26 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 27 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1.2 Consulting
TABLE 28 INSOLVENCY SOFTWARE CONSULTING SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 29 INSOLVENCY SOFTWARE CONSULTING SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1.3 Implementation
TABLE 30 INSOLVENCY SOFTWARE IMPLEMENTATION SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 31 INSOLVENCY SOFTWARE IMPLEMENTATION SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1.4 Support & maintenance
TABLE 32 INSOLVENCY SOFTWARE SUPPORT & MAINTENANCE SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 33 INSOLVENCY SOFTWARE SUPPORT & MAINTENANCE SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.2 MANAGED SERVICES
6.3.2.1 Outsourcing of managed services to address consumer queries
TABLE 34 INSOLVENCY SOFTWARE MANAGED SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 35 INSOLVENCY SOFTWARE MANAGED SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
7 INSOLVENCY SOFTWARE MARKET, BY APPLICATION
7.1 INTRODUCTION
7.1.1 APPLICATION: INSOLVENCY SOFTWARE MARKET DRIVERS
FIGURE 33 FINANCIAL TRANSACTION MANAGEMENT SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 36 INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 37 INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
7.2 DOCUMENT MANAGEMENT
7.2.1 OFFERING SECURE AND EFFICIENT DOCUMENT HANDLING FOR USERS FROM ANY LOCATION
TABLE 38 INSOLVENCY SOFTWARE MARKET IN DOCUMENT MANAGEMENT, BY REGION, 2018–2022 (USD MILLION)
TABLE 39 INSOLVENCY SOFTWARE MARKET IN DOCUMENT MANAGEMENT, BY REGION, 2023–2028 (USD MILLION)
7.3 FINANCIAL TRANSACTION MANAGEMENT
7.3.1 NEED TO EFFECTIVELY MANAGE FINANCIAL ASPECTS OF BANKRUPTCY AND INSOLVENCY CASES
TABLE 40 INSOLVENCY SOFTWARE MARKET IN FINANCIAL TRANSACTION MANAGEMENT, BY REGION, 2018–2022 (USD MILLION)
TABLE 41 INSOLVENCY SOFTWARE MARKET IN FINANCIAL TRANSACTION MANAGEMENT, BY REGION, 2023–2028 (USD MILLION)
7.4 REPORTING
7.4.1 ENSURING TRANSPARENCY AND ACCOUNTABILITY BY DOCUMENTING ALL INTERACTIONS WITHIN INSOLVENCY CASES
TABLE 42 INSOLVENCY SOFTWARE MARKET IN REPORTING, BY REGION, 2018–2022 (USD MILLION)
TABLE 43 INSOLVENCY SOFTWARE MARKET IN REPORTING, BY REGION, 2023–2028 (USD MILLION)
7.5 COMPLIANCE
7.5.1 NEED TO REDUCE LEGAL RISKS AND ENSURE PROCEEDINGS ALIGN WITH LAW
TABLE 44 INSOLVENCY SOFTWARE MARKET IN COMPLIANCE, BY REGION, 2018–2022 (USD MILLION)
TABLE 45 INSOLVENCY SOFTWARE MARKET IN COMPLIANCE, BY REGION, 2023–2028 (USD MILLION)
7.6 CREDITOR MANAGEMENT
7.6.1 BENEFITS OF AUTOMATING PROCESSES TO STREAMLINE SUBMISSION AND VERIFICATION OF CREDITOR CLAIMS
TABLE 46 INSOLVENCY SOFTWARE MARKET IN CREDITOR MANAGEMENT, BY REGION, 2018–2022 (USD MILLION)
TABLE 47 INSOLVENCY SOFTWARE MARKET IN CREDITOR MANAGEMENT, BY REGION, 2023–2028 (USD MILLION)
7.7 OTHER APPLICATIONS
TABLE 48 INSOLVENCY SOFTWARE MARKET IN OTHER APPLICATIONS, BY REGION, 2018–2022 (USD MILLION)
TABLE 49 INSOLVENCY SOFTWARE MARKET IN OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION)
8 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE
8.1 INTRODUCTION
FIGURE 34 SMES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 50 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 51 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
8.1.1 ORGANIZATION SIZE: INSOLVENCY SOFTWARE MARKET DRIVERS
8.2 LARGE ENTERPRISES
8.2.1 DEMAND FOR ENHANCED INSOLVENCY EFFICIENCY WITH ADVANCED SOFTWARE SOLUTIONS IN LARGE ENTERPRISES
TABLE 52 LARGE ENTERPRISES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 53 LARGE ENTERPRISES MARKET, BY REGION, 2023–2028 (USD MILLION)
8.3 SMALL & MEDIUM-SIZED ENTERPRISES
8.3.1 COST-SAVING BENEFITS OFFERED BY INSOLVENCY SOFTWARE FOR SMES
TABLE 54 SMES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 55 SMES MARKET, BY REGION, 2023–2028 (USD MILLION)
9 INSOLVENCY SOFTWARE MARKET, BY VERTICAL
9.1 INTRODUCTION
9.1.1 VERTICAL: INSOLVENCY SOFTWARE MARKET DRIVERS
FIGURE 35 BFSI VERTICAL TO HAVE LARGEST MARKET SIZE DURING FORECAST PERIOD
TABLE 56 INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 57 INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
9.2 BFSI
9.2.1 HIGHER ADOPTION OF DIGITALIZED TOOLS TO EASE BANKING AND OTHER FINANCIAL PROCESS
TABLE 58 INSOLVENCY SOFTWARE MARKET IN BFSI VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 59 INSOLVENCY SOFTWARE MARKET IN BFSI VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.2.2 USE CASES
9.2.2.1 Lawyaw transformed document drafting and management, reducing time required from hours with Clio
9.2.2.2 Aryza Dunning helped Timing Uitzendbureau in efficient credit management
9.2.2.3 Stretto supported bankruptcy law expert Conine in navigating complexities of bankruptcy laws and technologies
9.3 GOVERNMENT
9.3.1 NEED TO ENHANCE GOVERNMENT INSOLVENCY TRANSPARENCY AND COMPLIANCE MANAGEMENT
TABLE 60 INSOLVENCY SOFTWARE MARKET IN GOVERNMENT VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 61 INSOLVENCY SOFTWARE MARKET IN GOVERNMENT VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.3.2 USE CASE
9.3.2.1 Bank improved its REO processes with Altisource solutions
9.4 IT & TELECOM
9.4.1 RISE IN NEED TO MANAGE FINANCIAL CHALLENGES AMID MERGERS & ACQUISITIONS
TABLE 62 INSOLVENCY SOFTWARE MARKET IN IT & TELECOM VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 63 INSOLVENCY SOFTWARE MARKET IN IT & TELECOM VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.4.2 USE CASE
9.4.2.1 Lumen joined forces with Epiq Managed Services to access its eDiscovery proficiency, ensure uniformity, and achieve cost savings
9.5 MANUFACTURING
9.5.1 NEED TO STREAMLINE CREDITOR COMMUNICATION AND NEGOTIATIONS IN MANUFACTURING INSOLVENCY WITH INSOLVENCY SOFTWARE
TABLE 64 INSOLVENCY SOFTWARE MARKET IN MANUFACTURING VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 65 INSOLVENCY SOFTWARE MARKET IN MANUFACTURING VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.6 ENERGY & UTILITY
9.6.1 INCREASE IN COMPLEXITY AND GROWING NUMBER OF REGULATIONS IN SECTOR
TABLE 66 INSOLVENCY SOFTWARE MARKET IN ENERGY & UTILITIES VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 67 INSOLVENCY SOFTWARE MARKET IN ENERGY & UTILITIES VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.6.2 USE CASE
9.6.2.1 Epiq provided tailored support to Energy Future Holdings in navigating intricate aspects of Chapter 11 case management
9.7 RETAIL
9.7.1 CHANGING CONSUMER PREFERENCES, ESPECIALLY IN AGE OF ECOMMERCE AND ONLINE SHOPPING
TABLE 68 INSOLVENCY SOFTWARE MARKET IN RETAIL VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 69 INSOLVENCY SOFTWARE MARKET IN RETAIL VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.8 OTHER VERTICALS
TABLE 70 INSOLVENCY SOFTWARE MARKET IN OTHER VERTICALS, BY REGION, 2018–2022 (USD MILLION)
TABLE 71 INSOLVENCY SOFTWARE MARKET IN OTHER VERTICALS, BY REGION, 2023–2028 (USD MILLION)
10 INSOLVENCY SOFTWARE MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 36 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 72 INSOLVENCY SOFTWARE MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 73 INSOLVENCY SOFTWARE MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET DRIVERS
10.2.2 NORTH AMERICA: RECESSION IMPACT
FIGURE 37 NORTH AMERICA: MARKET SNAPSHOT
TABLE 74 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 75 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 76 NORTH AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 77 NORTH AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 78 NORTH AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 79 NORTH AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 80 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 81 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 82 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 83 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 84 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 85 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 86 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 87 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.2.3 US
10.2.3.1 Presence of huge financial institutions with inclination toward innovation and development
10.2.4 CANADA
10.2.4.1 Rapid adoption of digitalized platforms across various sectors
10.3 EUROPE
10.3.1 EUROPE: INSOLVENCY SOFTWARE MARKET DRIVERS
10.3.2 EUROPE: RECESSION IMPACT
TABLE 88 EUROPE: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 89 EUROPE: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 90 EUROPE: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 91 EUROPE: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 92 EUROPE: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 93 EUROPE: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 94 EUROPE: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 95 EUROPE: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 96 EUROPE: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 97 EUROPE: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 98 EUROPE: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 99 EUROPE: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 100 EUROPE: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 101 EUROPE: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.3.3 UK
10.3.3.1 Increased government investment in upgrading insolvency infrastructure
10.3.4 GERMANY
10.3.4.1 Higher cloud adoption among enterprises and increase in insolvency cases among large companies
10.3.5 FRANCE
10.3.5.1 Significant investments by government
10.3.6 ITALY
10.3.6.1 Significant shift toward greater adoption and acceptance of digital solutions
10.3.7 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET DRIVERS
10.4.2 ASIA PACIFIC: RECESSION IMPACT
FIGURE 38 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 102 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 103 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 104 ASIA PACIFIC: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 105 ASIA PACIFIC: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 106 ASIA PACIFIC: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 107 ASIA PACIFIC: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 108 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 109 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 110 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 111 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 112 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 113 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 114 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 115 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.4.3 CHINA
10.4.3.1 Competitive legal environment to drive law firms to invest in technology, including insolvency software
10.4.4 INDIA
10.4.4.1 Government spending to develop digital infrastructure across various sectors
10.4.5 JAPAN
10.4.5.1 Better customer experience in payment processing
10.4.6 AUSTRALIA & NEW ZEALAND (ANZ)
10.4.6.1 Growth in adoption of data analytics and predictive analytics by several financial companies
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST AND AFRICA: INSOLVENCY SOFTWARE MARKET DRIVERS
TABLE 116 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 117 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 118 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 119 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 120 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 121 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 122 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 123 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 124 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 125 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 126 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 127 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 128 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 129 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.5.2 UNITED ARAB EMIRATES (UAE)
10.5.2.1 Need to manage compliance and legal requirements
10.5.3 SAUDI ARABIA
10.5.3.1 Essentiality of streamlining bankruptcy procedures, fostering economic growth, and attracting foreign investments
10.5.4 REST OF THE MIDDLE EAST & AFRICA
10.6 LATIN AMERICA
10.6.1 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET DRIVERS
10.6.2 LATIN AMERICA: RECESSION IMPACT
TABLE 130 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 131 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 132 LATIN AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 133 LATIN AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 134 LATIN AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 135 LATIN AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 136 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 137 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 138 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 139 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 140 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 141 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 142 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 143 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.6.3 BRAZIL
10.6.3.1 Rapid urbanization and expansion of eCommerce industry in Brazil
10.6.4 MEXICO
10.6.4.1 Increase in number of mobile subscribers and rise in internet penetration
10.6.5 REST OF LATIN AMERICA
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 144 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
11.3 MARKET SHARE ANALYSIS OF KEY PLAYERS
TABLE 145 INSOLVENCY SOFTWARE MARKET: DEGREE OF COMPETITION
11.4 KEY COMPANY EVALUATION MATRIX
11.4.1 STARS
11.4.2 EMERGING LEADERS
11.4.3 PERVASIVE PLAYERS
11.4.4 PARTICIPANTS
FIGURE 39 KEY COMPANY EVALUATION MATRIX, 2023
11.5 COMPETITIVE SCENARIO AND TRENDS
11.5.1 PRODUCT LAUNCHES
TABLE 146 INSOLVENCY SOFTWARE MARKET: PRODUCT LAUNCHES, JANUARY 2021–SEPTEMBER 2023
11.5.2 DEALS
TABLE 147 INSOLVENCY SOFTWARE MARKET: DEALS, JANUARY 2021–SEPTEMBER 2023
12 COMPANY PROFILES
12.1 KEY PLAYERS
(Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View)*
12.1.1 CLIO
TABLE 148 CLIO: BUSINESS OVERVIEW
TABLE 149 CLIO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 150 CLIO: PRODUCT LAUNCHES
12.1.2 EPIQ
TABLE 151 EPIQ: BUSINESS OVERVIEW
TABLE 152 EPIQ: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
TABLE 153 EPIQ: PRODUCT LAUNCHES
TABLE 154 EPIQ: DEALS
12.1.3 ARYZA
TABLE 155 ARYZA: BUSINESS OVERVIEW
TABLE 156 ARYZA: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
TABLE 157 ARYZA: PRODUCT LAUNCHES
TABLE 158 ARYZA: DEALS
12.1.4 STRETTO
TABLE 159 STRETTO: BUSINESS OVERVIEW
TABLE 160 STRETTO: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
TABLE 161 STRETTO: DEALS
12.1.5 CARET
TABLE 162 CARET: BUSINESS OVERVIEW
TABLE 163 CARET: PRODUCT/SOLUTIONS/SERVICE OFFERINGS
TABLE 164 CARET: PRODUCT LAUNCHES
TABLE 165 CARET: DEALS
12.1.6 KROLL
TABLE 166 KROLL: BUSINESS OVERVIEW
TABLE 167 KROLL: PRODUCT AND SERVICE OFFERINGS
12.1.7 ALTISOURCE
TABLE 168 ALTISOURCE: BUSINESS OVERVIEW
FIGURE 40 ALTISOURCE: COMPANY SNAPSHOT
TABLE 169 ALTISOURCE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
12.1.8 LITERA
12.2 OTHER PLAYERS
12.2.1 TURNKEY
12.2.2 QWIKFILE
12.2.3 FASTCASE
12.2.4 CASEWARE
12.2.5 STANDARD LEGAL
12.2.6 LEGALPRO
12.2.7 PRACTICEPANTHER
12.2.8 SMOKEBALL
12.2.9 STP.ONE
12.2.10 NESL
12.2.11 FILEASSURE
12.2.12 CLOUDLEX
13 ADJACENT/RELATED MARKETS
13.1 CASE MANAGEMENT MARKET
13.1.1 MARKET DEFINITION
13.1.2 MARKET OVERVIEW
13.1.3 CASH MANAGEMENT MARKET, BY DEPLOYMENT MODE
TABLE 170 CASE MANAGEMENT MARKET, BY DEPLOYMENT MODE, 2015–2022 (USD MILLION)
13.1.3.1 Cloud
TABLE 171 CLOUD: CASE MANAGEMENT MARKET, BY REGION, 2015–2022 (USD MILLION)
13.1.3.2 On-premises
TABLE 172 ON-PREMISES: CASE MANAGEMENT MARKET, BY REGION, 2015–2022 (USD MILLION)
13.2 CASH FLOW MANAGEMENT MARKET
13.2.1 MARKET DEFINITION
13.2.2 MARKET OVERVIEW
13.2.3 CASH FLOW MANAGEMENT MARKET, BY COMPONENT
TABLE 173 CASH FLOW MANAGEMENT MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
13.2.3.1 Solutions
TABLE 174 SOLUTIONS: CASH FLOW MANAGEMENT MARKET, BY REGION, 2018–2025 (USD MILLION)
13.2.3.2 Services
TABLE 175 SERVICES: CASH FLOW MANAGEMENT MARKET, BY TYPE 2018–2025 (USD MILLION)
TABLE 176 SERVICES: CASH FLOW MANAGEMENT MARKET, BY REGION, 2018–2025 (USD MILLION)
14 APPENDIX
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.3 CUSTOMIZATION OPTIONS
14.4 RELATED REPORTS
14.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.4 YEARS CONSIDERED
1.5 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES, 2020–2022
1.6 STAKEHOLDERS
1.7 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 INSOLVENCY SOFTWARE MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primary interviews
TABLE 2 PRIMARY INTERVIEWS
2.1.2.2 Key industry insights
2.2 MARKET FORECAST
TABLE 3 FACTOR ANALYSIS
2.3 MARKET SIZE ESTIMATION
FIGURE 2 APPROACH 1 (SUPPLY-SIDE): REVENUE OF OFFERINGS IN INSOLVENCY SOFTWARE MARKET
FIGURE 3 APPROACH 2 (DEMAND-SIDE): INSOLVENCY SOFTWARE MARKET
2.3.1 BOTTOM-UP APPROACH
FIGURE 4 BOTTOM-UP APPROACH FRAMEWORK
FIGURE 5 MARKET SIZE ESTIMATION PROCESS USING BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 6 TOP-DOWN APPROACH FRAMEWORK
2.4 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.5 STUDY ASSUMPTIONS
2.6 LIMITATIONS AND RISK ASSESSMENT
2.7 RECESSION IMPACT ON INSOLVENCY SOFTWARE MARKET
3 EXECUTIVE SUMMARY
FIGURE 8 INSOLVENCY SOFTWARE MARKET, 2023–2028 (USD MILLION)
FIGURE 9 INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023 VS. 2028 (USD MILLION)
FIGURE 10 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023 VS. 2028 (USD MILLION)
FIGURE 11 INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023 VS. 2028 (USD MILLION)
FIGURE 12 INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023 VS. 2028 (USD MILLION)
FIGURE 13 INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023 VS. 2028 (USD MILLION)
FIGURE 14 INSOLVENCY SOFTWARE MARKET, BY REGION, 2023
4 PREMIUM INSIGHTS
4.1 GROWTH OPPORTUNITIES FOR INSOLVENCY SOFTWARE MARKET PLAYERS
FIGURE 15 EXPANDING USE OF DIGITALIZED SOLUTIONS AND NEED FOR DATA SECURITY TO DRIVE MARKET GROWTH
4.2 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING AND VERTICAL
FIGURE 16 INSOLVENCY SOFTWARE SOLUTIONS TO ACCOUNT FOR LARGER MARKET IN NORTH AMERICA IN 2023
4.3 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY OFFERING AND VERTICAL
FIGURE 17 BFSI TO BE LARGEST VERTICAL IN ASIA PACIFIC IN 2023
4.4 EUROPE: INSOLVENCY SOFTWARE MARKET, BY OFFERING AND VERTICAL
FIGURE 18 BFSI AND SOLUTIONS TO ACCOUNT FOR LARGEST SEGMENTS IN EUROPE IN 2023
4.5 GEOGRAPHICAL SNAPSHOT OF INSOLVENCY SOFTWARE MARKET
FIGURE 19 ASIA PACIFIC TO ACHIEVE HIGHEST GROWTH DURING FORECAST PERIOD
5 MARKET OVERVIEW AND INDUSTRY TRENDS
5.1 MARKET OVERVIEW
5.2 MARKET DYNAMICS
FIGURE 20 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: INSOLVENCY SOFTWARE MARKET
5.2.1 DRIVERS
5.2.1.1 Increase in adoption of digitalization within financial industry
5.2.1.2 Rise in number of bankruptcy cases
5.2.1.3 Need for cost-effective and efficient solution to process volume without additional headcount
5.2.1.4 Growth in demand for automated tools to make well-informed decisions
5.2.2 RESTRAINTS
5.2.2.1 Resistance to shift away from legacy systems
5.2.3 OPPORTUNITIES
5.2.3.1 Ongoing trend for digitalization in IT industry
5.2.3.2 Increase in automation to boost adoption of emerging technology
5.2.3.3 Rise in demand for software automation and innovative applications
5.2.4 CHALLENGES
5.2.4.1 Lack of data privacy and safety
5.2.4.2 Maintaining compliance in changing regulatory landscape
5.2.4.3 Need for third-party providers to enable and manage technology and hosting aspects
5.3 INDUSTRY TRENDS
5.3.1 BRIEF HISTORY OF INSOLVENCY SOFTWARE MARKET
FIGURE 21 BRIEF HISTORY OF INSOLVENCY SOFTWARE
5.3.1.1 Early software solutions and transition to Windows-based software
5.3.1.2 Integration of legal research
5.3.1.3 Automation and workflow management
5.3.1.4 Cloud-based advanced analytics solutions
5.3.1.5 Data privacy and safety concerns
5.3.1.6 Enhancement in software with new emerging technologies
5.3.2 BEST PRACTICES IN INSOLVENCY SOFTWARE MARKET
5.3.3 VALUE CHAIN ANALYSIS
FIGURE 22 INSOLVENCY SOFTWARE MARKET: VALUE CHAIN ANALYSIS
5.3.4 ECOSYSTEM MAPPING
FIGURE 23 INSOLVENCY SOFTWARE ECOSYSTEM
TABLE 4 INSOLVENCY SOFTWARE MARKET: ECOSYSTEM
5.3.5 PATENT ANALYSIS
5.3.5.1 Methodology
5.3.5.2 Document type
TABLE 5 PATENTS FILED, 2020–2023
5.3.5.3 Innovation and patent applications
FIGURE 24 TOTAL NUMBER OF PATENTS GRANTED, 2020–2023
5.3.5.4 Top applicants
FIGURE 25 TOP TEN PATENT APPLICANTS, 2020–2023
5.3.6 USE CASES
5.3.6.1 Aryza Dunning improved Louwman Dealer Group’s debt management system
5.3.6.2 Stretto helped Crosby & Fox better its communication systems
5.3.6.3 Stretto offered Richard West Law Office its Best Case solution for efficient case-filing
5.3.6.4 Stretto’s solutions streamlined Nelson Law Office’s functionalities
5.3.7 PRICING ANALYSIS
5.3.7.1 Indicative pricing analysis of key players
TABLE 6 PRICING ANALYSIS
5.3.7.2 Average selling price trend
5.3.8 TYPE OF CHAPTERS IN INSOLVENCY SOFTWARE
5.3.8.1 Chapter 7
5.3.8.2 Chapter 11
5.3.8.3 Chapter 12
5.3.8.4 Chapter 13
5.3.8.5 Chapter 15
FIGURE 26 US: BANKRUPTCY FILINGS, BY TYPE, 2018–2023
5.3.9 INSOLVENCY SOFTWARE MARKET: COUNTRY-LEVEL OUTLOOK
5.3.9.1 India
5.3.9.2 US
5.3.9.3 Canada
5.3.9.4 European Countries
5.3.10 TECHNOLOGY ANALYSIS
5.3.10.1 Adjacent technologies
5.3.11 PORTER’S FIVE FORCES ANALYSIS
TABLE 7 INSOLVENCY SOFTWARE MARKET: PORTER’S FIVE FORCES MODEL
5.3.11.1 Threat of new entrants
5.3.11.2 Threat of substitutes
5.3.11.3 Bargaining power of buyers
5.3.11.4 Bargaining power of suppliers
5.3.11.5 Intensity of competitive rivalry
5.3.12 DISRUPTIONS IMPACTING BUYERS/CUSTOMERS IN INSOLVENCY SOFTWARE MARKET
FIGURE 27 DISRUPTION TRENDS IMPACTING BUYERS/CUSTOMERS IN MARKET
5.3.13 REGULATORY LANDSCAPE
5.3.13.1 International Organization for Standardization 27001
5.3.13.2 Basel Committee on Banking Supervision
5.3.13.3 DODD-FRANK Act
5.3.13.4 Health Insurance Portability and Accountability Act
5.3.13.5 General Data Protection Regulation
5.3.13.6 Markets in Financial Instruments Directive
5.3.13.7 Financial Industry Information Systems
TABLE 8 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.3.14 KEY CONFERENCES & EVENTS
TABLE 13 DETAILED LIST OF CONFERENCES & EVENTS, 2023–2024
5.3.15 KEY STAKEHOLDERS & BUYING CRITERIA
5.3.15.1 Key stakeholders in buying process
FIGURE 28 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
TABLE 14 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
5.3.15.2 Buying criteria
FIGURE 29 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
TABLE 15 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
5.3.16 FUTURE DIRECTION OF INSOLVENCY SOFTWARE MARKET
5.3.16.1 Insolvency software roadmap till 2030
5.3.16.2 Short-term roadmap (2023–2025)
5.3.16.3 Mid-term roadmap (2026–2028)
5.3.16.4 Long-term roadmap (2029–2030)
6 INSOLVENCY SOFTWARE MARKET, BY OFFERING
6.1 INTRODUCTION
6.1.1 OFFERING: INSOLVENCY SOFTWARE MARKET DRIVERS
FIGURE 30 INSOLVENCY SOFTWARE SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 16 INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 17 INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
6.2 SOLUTIONS
6.2.1 RISE IN NEED TO HELP INDIVIDUALS AND BUSINESSES MANAGE DEBTS AND COMPLY WITH LEGAL REQUIREMENTS
TABLE 18 INSOLVENCY SOFTWARE SOLUTIONS MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 19 INSOLVENCY SOFTWARE SOLUTIONS MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3 SERVICES
FIGURE 31 MANAGED SERVICES TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 20 INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 21 INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 22 INSOLVENCY SOFTWARE SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 23 INSOLVENCY SOFTWARE SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1 PROFESSIONAL SERVICES
6.3.1.1 Need to streamline management of cases to aid legal experts, insolvency practitioners, and entities
FIGURE 32 SUPPORT & MAINTENANCE SERVICES TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 24 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 25 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 26 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 27 INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1.2 Consulting
TABLE 28 INSOLVENCY SOFTWARE CONSULTING SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 29 INSOLVENCY SOFTWARE CONSULTING SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1.3 Implementation
TABLE 30 INSOLVENCY SOFTWARE IMPLEMENTATION SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 31 INSOLVENCY SOFTWARE IMPLEMENTATION SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.1.4 Support & maintenance
TABLE 32 INSOLVENCY SOFTWARE SUPPORT & MAINTENANCE SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 33 INSOLVENCY SOFTWARE SUPPORT & MAINTENANCE SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
6.3.2 MANAGED SERVICES
6.3.2.1 Outsourcing of managed services to address consumer queries
TABLE 34 INSOLVENCY SOFTWARE MANAGED SERVICES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 35 INSOLVENCY SOFTWARE MANAGED SERVICES MARKET, BY REGION, 2023–2028 (USD MILLION)
7 INSOLVENCY SOFTWARE MARKET, BY APPLICATION
7.1 INTRODUCTION
7.1.1 APPLICATION: INSOLVENCY SOFTWARE MARKET DRIVERS
FIGURE 33 FINANCIAL TRANSACTION MANAGEMENT SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 36 INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 37 INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
7.2 DOCUMENT MANAGEMENT
7.2.1 OFFERING SECURE AND EFFICIENT DOCUMENT HANDLING FOR USERS FROM ANY LOCATION
TABLE 38 INSOLVENCY SOFTWARE MARKET IN DOCUMENT MANAGEMENT, BY REGION, 2018–2022 (USD MILLION)
TABLE 39 INSOLVENCY SOFTWARE MARKET IN DOCUMENT MANAGEMENT, BY REGION, 2023–2028 (USD MILLION)
7.3 FINANCIAL TRANSACTION MANAGEMENT
7.3.1 NEED TO EFFECTIVELY MANAGE FINANCIAL ASPECTS OF BANKRUPTCY AND INSOLVENCY CASES
TABLE 40 INSOLVENCY SOFTWARE MARKET IN FINANCIAL TRANSACTION MANAGEMENT, BY REGION, 2018–2022 (USD MILLION)
TABLE 41 INSOLVENCY SOFTWARE MARKET IN FINANCIAL TRANSACTION MANAGEMENT, BY REGION, 2023–2028 (USD MILLION)
7.4 REPORTING
7.4.1 ENSURING TRANSPARENCY AND ACCOUNTABILITY BY DOCUMENTING ALL INTERACTIONS WITHIN INSOLVENCY CASES
TABLE 42 INSOLVENCY SOFTWARE MARKET IN REPORTING, BY REGION, 2018–2022 (USD MILLION)
TABLE 43 INSOLVENCY SOFTWARE MARKET IN REPORTING, BY REGION, 2023–2028 (USD MILLION)
7.5 COMPLIANCE
7.5.1 NEED TO REDUCE LEGAL RISKS AND ENSURE PROCEEDINGS ALIGN WITH LAW
TABLE 44 INSOLVENCY SOFTWARE MARKET IN COMPLIANCE, BY REGION, 2018–2022 (USD MILLION)
TABLE 45 INSOLVENCY SOFTWARE MARKET IN COMPLIANCE, BY REGION, 2023–2028 (USD MILLION)
7.6 CREDITOR MANAGEMENT
7.6.1 BENEFITS OF AUTOMATING PROCESSES TO STREAMLINE SUBMISSION AND VERIFICATION OF CREDITOR CLAIMS
TABLE 46 INSOLVENCY SOFTWARE MARKET IN CREDITOR MANAGEMENT, BY REGION, 2018–2022 (USD MILLION)
TABLE 47 INSOLVENCY SOFTWARE MARKET IN CREDITOR MANAGEMENT, BY REGION, 2023–2028 (USD MILLION)
7.7 OTHER APPLICATIONS
TABLE 48 INSOLVENCY SOFTWARE MARKET IN OTHER APPLICATIONS, BY REGION, 2018–2022 (USD MILLION)
TABLE 49 INSOLVENCY SOFTWARE MARKET IN OTHER APPLICATIONS, BY REGION, 2023–2028 (USD MILLION)
8 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE
8.1 INTRODUCTION
FIGURE 34 SMES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 50 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 51 INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
8.1.1 ORGANIZATION SIZE: INSOLVENCY SOFTWARE MARKET DRIVERS
8.2 LARGE ENTERPRISES
8.2.1 DEMAND FOR ENHANCED INSOLVENCY EFFICIENCY WITH ADVANCED SOFTWARE SOLUTIONS IN LARGE ENTERPRISES
TABLE 52 LARGE ENTERPRISES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 53 LARGE ENTERPRISES MARKET, BY REGION, 2023–2028 (USD MILLION)
8.3 SMALL & MEDIUM-SIZED ENTERPRISES
8.3.1 COST-SAVING BENEFITS OFFERED BY INSOLVENCY SOFTWARE FOR SMES
TABLE 54 SMES MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 55 SMES MARKET, BY REGION, 2023–2028 (USD MILLION)
9 INSOLVENCY SOFTWARE MARKET, BY VERTICAL
9.1 INTRODUCTION
9.1.1 VERTICAL: INSOLVENCY SOFTWARE MARKET DRIVERS
FIGURE 35 BFSI VERTICAL TO HAVE LARGEST MARKET SIZE DURING FORECAST PERIOD
TABLE 56 INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 57 INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
9.2 BFSI
9.2.1 HIGHER ADOPTION OF DIGITALIZED TOOLS TO EASE BANKING AND OTHER FINANCIAL PROCESS
TABLE 58 INSOLVENCY SOFTWARE MARKET IN BFSI VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 59 INSOLVENCY SOFTWARE MARKET IN BFSI VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.2.2 USE CASES
9.2.2.1 Lawyaw transformed document drafting and management, reducing time required from hours with Clio
9.2.2.2 Aryza Dunning helped Timing Uitzendbureau in efficient credit management
9.2.2.3 Stretto supported bankruptcy law expert Conine in navigating complexities of bankruptcy laws and technologies
9.3 GOVERNMENT
9.3.1 NEED TO ENHANCE GOVERNMENT INSOLVENCY TRANSPARENCY AND COMPLIANCE MANAGEMENT
TABLE 60 INSOLVENCY SOFTWARE MARKET IN GOVERNMENT VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 61 INSOLVENCY SOFTWARE MARKET IN GOVERNMENT VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.3.2 USE CASE
9.3.2.1 Bank improved its REO processes with Altisource solutions
9.4 IT & TELECOM
9.4.1 RISE IN NEED TO MANAGE FINANCIAL CHALLENGES AMID MERGERS & ACQUISITIONS
TABLE 62 INSOLVENCY SOFTWARE MARKET IN IT & TELECOM VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 63 INSOLVENCY SOFTWARE MARKET IN IT & TELECOM VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.4.2 USE CASE
9.4.2.1 Lumen joined forces with Epiq Managed Services to access its eDiscovery proficiency, ensure uniformity, and achieve cost savings
9.5 MANUFACTURING
9.5.1 NEED TO STREAMLINE CREDITOR COMMUNICATION AND NEGOTIATIONS IN MANUFACTURING INSOLVENCY WITH INSOLVENCY SOFTWARE
TABLE 64 INSOLVENCY SOFTWARE MARKET IN MANUFACTURING VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 65 INSOLVENCY SOFTWARE MARKET IN MANUFACTURING VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.6 ENERGY & UTILITY
9.6.1 INCREASE IN COMPLEXITY AND GROWING NUMBER OF REGULATIONS IN SECTOR
TABLE 66 INSOLVENCY SOFTWARE MARKET IN ENERGY & UTILITIES VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 67 INSOLVENCY SOFTWARE MARKET IN ENERGY & UTILITIES VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.6.2 USE CASE
9.6.2.1 Epiq provided tailored support to Energy Future Holdings in navigating intricate aspects of Chapter 11 case management
9.7 RETAIL
9.7.1 CHANGING CONSUMER PREFERENCES, ESPECIALLY IN AGE OF ECOMMERCE AND ONLINE SHOPPING
TABLE 68 INSOLVENCY SOFTWARE MARKET IN RETAIL VERTICAL, BY REGION, 2018–2022 (USD MILLION)
TABLE 69 INSOLVENCY SOFTWARE MARKET IN RETAIL VERTICAL, BY REGION, 2023–2028 (USD MILLION)
9.8 OTHER VERTICALS
TABLE 70 INSOLVENCY SOFTWARE MARKET IN OTHER VERTICALS, BY REGION, 2018–2022 (USD MILLION)
TABLE 71 INSOLVENCY SOFTWARE MARKET IN OTHER VERTICALS, BY REGION, 2023–2028 (USD MILLION)
10 INSOLVENCY SOFTWARE MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 36 ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
TABLE 72 INSOLVENCY SOFTWARE MARKET, BY REGION, 2018–2022 (USD MILLION)
TABLE 73 INSOLVENCY SOFTWARE MARKET, BY REGION, 2023–2028 (USD MILLION)
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET DRIVERS
10.2.2 NORTH AMERICA: RECESSION IMPACT
FIGURE 37 NORTH AMERICA: MARKET SNAPSHOT
TABLE 74 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 75 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 76 NORTH AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 77 NORTH AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 78 NORTH AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 79 NORTH AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 80 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 81 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 82 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 83 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 84 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 85 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 86 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 87 NORTH AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.2.3 US
10.2.3.1 Presence of huge financial institutions with inclination toward innovation and development
10.2.4 CANADA
10.2.4.1 Rapid adoption of digitalized platforms across various sectors
10.3 EUROPE
10.3.1 EUROPE: INSOLVENCY SOFTWARE MARKET DRIVERS
10.3.2 EUROPE: RECESSION IMPACT
TABLE 88 EUROPE: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 89 EUROPE: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 90 EUROPE: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 91 EUROPE: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 92 EUROPE: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 93 EUROPE: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 94 EUROPE: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 95 EUROPE: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 96 EUROPE: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 97 EUROPE: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 98 EUROPE: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 99 EUROPE: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 100 EUROPE: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 101 EUROPE: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.3.3 UK
10.3.3.1 Increased government investment in upgrading insolvency infrastructure
10.3.4 GERMANY
10.3.4.1 Higher cloud adoption among enterprises and increase in insolvency cases among large companies
10.3.5 FRANCE
10.3.5.1 Significant investments by government
10.3.6 ITALY
10.3.6.1 Significant shift toward greater adoption and acceptance of digital solutions
10.3.7 REST OF EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET DRIVERS
10.4.2 ASIA PACIFIC: RECESSION IMPACT
FIGURE 38 ASIA PACIFIC: MARKET SNAPSHOT
TABLE 102 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 103 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 104 ASIA PACIFIC: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 105 ASIA PACIFIC: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 106 ASIA PACIFIC: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 107 ASIA PACIFIC: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 108 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 109 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 110 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 111 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 112 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 113 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 114 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 115 ASIA PACIFIC: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.4.3 CHINA
10.4.3.1 Competitive legal environment to drive law firms to invest in technology, including insolvency software
10.4.4 INDIA
10.4.4.1 Government spending to develop digital infrastructure across various sectors
10.4.5 JAPAN
10.4.5.1 Better customer experience in payment processing
10.4.6 AUSTRALIA & NEW ZEALAND (ANZ)
10.4.6.1 Growth in adoption of data analytics and predictive analytics by several financial companies
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST AND AFRICA: INSOLVENCY SOFTWARE MARKET DRIVERS
TABLE 116 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 117 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 118 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 119 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 120 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 121 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 122 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 123 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 124 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 125 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 126 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 127 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 128 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 129 MIDDLE EAST & AFRICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.5.2 UNITED ARAB EMIRATES (UAE)
10.5.2.1 Need to manage compliance and legal requirements
10.5.3 SAUDI ARABIA
10.5.3.1 Essentiality of streamlining bankruptcy procedures, fostering economic growth, and attracting foreign investments
10.5.4 REST OF THE MIDDLE EAST & AFRICA
10.6 LATIN AMERICA
10.6.1 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET DRIVERS
10.6.2 LATIN AMERICA: RECESSION IMPACT
TABLE 130 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2018–2022 (USD MILLION)
TABLE 131 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 132 LATIN AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 133 LATIN AMERICA: INSOLVENCY SOFTWARE SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 134 LATIN AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2018–2022 (USD MILLION)
TABLE 135 LATIN AMERICA: INSOLVENCY SOFTWARE PROFESSIONAL SERVICES MARKET, BY TYPE, 2023–2028 (USD MILLION)
TABLE 136 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2018–2022 (USD MILLION)
TABLE 137 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY ORGANIZATION SIZE, 2023–2028 (USD MILLION)
TABLE 138 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
TABLE 139 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
TABLE 140 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2018–2022 (USD MILLION)
TABLE 141 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
TABLE 142 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 143 LATIN AMERICA: INSOLVENCY SOFTWARE MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
10.6.3 BRAZIL
10.6.3.1 Rapid urbanization and expansion of eCommerce industry in Brazil
10.6.4 MEXICO
10.6.4.1 Increase in number of mobile subscribers and rise in internet penetration
10.6.5 REST OF LATIN AMERICA
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 144 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
11.3 MARKET SHARE ANALYSIS OF KEY PLAYERS
TABLE 145 INSOLVENCY SOFTWARE MARKET: DEGREE OF COMPETITION
11.4 KEY COMPANY EVALUATION MATRIX
11.4.1 STARS
11.4.2 EMERGING LEADERS
11.4.3 PERVASIVE PLAYERS
11.4.4 PARTICIPANTS
FIGURE 39 KEY COMPANY EVALUATION MATRIX, 2023
11.5 COMPETITIVE SCENARIO AND TRENDS
11.5.1 PRODUCT LAUNCHES
TABLE 146 INSOLVENCY SOFTWARE MARKET: PRODUCT LAUNCHES, JANUARY 2021–SEPTEMBER 2023
11.5.2 DEALS
TABLE 147 INSOLVENCY SOFTWARE MARKET: DEALS, JANUARY 2021–SEPTEMBER 2023
12 COMPANY PROFILES
12.1 KEY PLAYERS
(Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View)*
12.1.1 CLIO
TABLE 148 CLIO: BUSINESS OVERVIEW
TABLE 149 CLIO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 150 CLIO: PRODUCT LAUNCHES
12.1.2 EPIQ
TABLE 151 EPIQ: BUSINESS OVERVIEW
TABLE 152 EPIQ: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
TABLE 153 EPIQ: PRODUCT LAUNCHES
TABLE 154 EPIQ: DEALS
12.1.3 ARYZA
TABLE 155 ARYZA: BUSINESS OVERVIEW
TABLE 156 ARYZA: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
TABLE 157 ARYZA: PRODUCT LAUNCHES
TABLE 158 ARYZA: DEALS
12.1.4 STRETTO
TABLE 159 STRETTO: BUSINESS OVERVIEW
TABLE 160 STRETTO: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
TABLE 161 STRETTO: DEALS
12.1.5 CARET
TABLE 162 CARET: BUSINESS OVERVIEW
TABLE 163 CARET: PRODUCT/SOLUTIONS/SERVICE OFFERINGS
TABLE 164 CARET: PRODUCT LAUNCHES
TABLE 165 CARET: DEALS
12.1.6 KROLL
TABLE 166 KROLL: BUSINESS OVERVIEW
TABLE 167 KROLL: PRODUCT AND SERVICE OFFERINGS
12.1.7 ALTISOURCE
TABLE 168 ALTISOURCE: BUSINESS OVERVIEW
FIGURE 40 ALTISOURCE: COMPANY SNAPSHOT
TABLE 169 ALTISOURCE: PRODUCTS/SOLUTIONS/SERVICES OFFERED
12.1.8 LITERA
12.2 OTHER PLAYERS
12.2.1 TURNKEY
12.2.2 QWIKFILE
12.2.3 FASTCASE
12.2.4 CASEWARE
12.2.5 STANDARD LEGAL
12.2.6 LEGALPRO
12.2.7 PRACTICEPANTHER
12.2.8 SMOKEBALL
12.2.9 STP.ONE
12.2.10 NESL
12.2.11 FILEASSURE
12.2.12 CLOUDLEX
13 ADJACENT/RELATED MARKETS
13.1 CASE MANAGEMENT MARKET
13.1.1 MARKET DEFINITION
13.1.2 MARKET OVERVIEW
13.1.3 CASH MANAGEMENT MARKET, BY DEPLOYMENT MODE
TABLE 170 CASE MANAGEMENT MARKET, BY DEPLOYMENT MODE, 2015–2022 (USD MILLION)
13.1.3.1 Cloud
TABLE 171 CLOUD: CASE MANAGEMENT MARKET, BY REGION, 2015–2022 (USD MILLION)
13.1.3.2 On-premises
TABLE 172 ON-PREMISES: CASE MANAGEMENT MARKET, BY REGION, 2015–2022 (USD MILLION)
13.2 CASH FLOW MANAGEMENT MARKET
13.2.1 MARKET DEFINITION
13.2.2 MARKET OVERVIEW
13.2.3 CASH FLOW MANAGEMENT MARKET, BY COMPONENT
TABLE 173 CASH FLOW MANAGEMENT MARKET, BY COMPONENT, 2018–2025 (USD MILLION)
13.2.3.1 Solutions
TABLE 174 SOLUTIONS: CASH FLOW MANAGEMENT MARKET, BY REGION, 2018–2025 (USD MILLION)
13.2.3.2 Services
TABLE 175 SERVICES: CASH FLOW MANAGEMENT MARKET, BY TYPE 2018–2025 (USD MILLION)
TABLE 176 SERVICES: CASH FLOW MANAGEMENT MARKET, BY REGION, 2018–2025 (USD MILLION)
14 APPENDIX
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.3 CUSTOMIZATION OPTIONS
14.4 RELATED REPORTS
14.5 AUTHOR DETAILS
