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Loan Servicing Software Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 123
  • SKU: IRTNTR44321
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The loan servicing software market share is expected to increase by USD 1.87 bn from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.5%.

This loan servicing software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers loan servicing software market segmentations by Deployment (cloud-based and on-premise) and Geography (North America, Europe, APAC, South America, and MEA). The loan servicing software market report also offers information on several market vendors, including Applied Business Software Inc., Black Knight Inc., Constellation Software Inc., Fiserv Inc., LOAN SERVICING SOFT Inc., Nortridge Software LLC, Nucleus Software Exports Ltd., PCFS Solutions, Shaw Systems Associates LLC, and Simnang LLC among others.

What will the Loan Servicing Software Market Size be During the Forecast Period?

Loan Servicing Software Market Size

Download the Free Report Sample to Unlock the Loan Servicing Software Market Size for the Forecast Period and Other Important Statistics

 

Loan Servicing Software Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The demand for efficiency in lending operations is notably driving the loan servicing software market growth, although factors such as threat from open-source loan servicing software may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the loan servicing software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Loan Servicing Software Market Driver

The demand for efficiency in lending operations is notably driving the global loan servicing software  market growth. Over the past decade, banking and financial institutions have been transforming their operations by adopting digital technologies to streamline their processes and save time. Banks and other financial institutes are adopting digital technologies to streamline their operations and save time and costs. Banks, mortgage organizations, and financial institutions are also outsourcing their loan servicing needs to third-party organizations or agencies. With the assistance of loan servicing software, lenders can monitor all the activities from the time of loan processing until the loan is paid off. These factors will drive the global loan servicing software market during the forecast period.

Key Loan Servicing Software Market Trend

Use of advanced technologies is the key market trend driving the global loan servicing software market growth. Banking institutes have also started using new technologies such as blockchain, RPA, and AI. Solutions integrated with blockchain technology are being developed to reduce loan processing and servicing time. Organizations are also focusing on streamlining their loan operations and focusing on offering better management and processing of loan products and services. With the help of loan servicing software, lenders and financial institutes can collect interest, principal, and payments from their borrowers easily. Thus, the increased focus on streamlining business and loan operations in the financial sector is driving the integration of advanced technologies and software. This, in turn, can boost the adoption and development of advanced loan servicing software.

Key Loan Servicing Software Market Challenge

The major challenge impeding the global loan servicing software market growth is the threat from open-source loan servicing software. Organizations such as non-banking financial companies and small lenders are the key customers of open-source and free loan servicing software as their purchasing power is low. They have low IT spending, which encourages them to opt for open-source software overpaid, loan servicing software. With the increase in demand for loan management and keeping track of multiple loans in financial institutes, new vendors offering freeware are expected to enter the market during the forecast period. Hence, organizations are moving toward cost-effective cloud-based offerings. The availability of open-source loan servicing software will be a major challenge for the growth of the global loan servicing software market during the forecast period.

This loan servicing software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global loan servicing software market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the loan servicing software market during the forecast period.

Who are the Major Loan Servicing Software Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Applied Business Software Inc.
  • Black Knight Inc.
  • Constellation Software Inc.
  • Fiserv Inc.
  • LOAN SERVICING SOFT Inc.
  • Nortridge Software LLC
  • Nucleus Software Exports Ltd.
  • PCFS Solutions
  • Shaw Systems Associates LLC
  • Simnang LLC

 

This statistical study of the loan servicing software market encompasses successful business strategies deployed by the key vendors. The loan servicing software market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Applied Business Software Inc. - The company offers automated, powerful, flexible and incredibly simple to use loan servicing software.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The loan servicing software market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Loan Servicing Software Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the loan servicing software market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Loan Servicing Software Market?

Loan Servicing Software Market Market segmentation by region

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48% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for the loan servicing software market in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and the MEA.  

The banking and financial sector is increasingly looking toward technology-driven solutions to reduce the cost associated with compliance management. This has encouraged mortgage banks and credit unions to adopt loan servicing software which will facilitate the loan servicing software market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Deployment Segments in the Loan Servicing Software Market?

Loan Servicing Software Market Segmentation

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The loan servicing software market share growth by the cloud-based segment will be significant during the forecast period. The segment will grow at a higher CAGR than that of on-premises due to the increasing digitization of businesses and the expanding geographical presence of financial services companies.

This report provides an accurate prediction of the contribution of all the segments to the growth of the loan servicing software market size and actionable market insights on post COVID-19 impact on each segment.

 

Loan Servicing Software Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 11.5%

Market growth 2021-2025

$ 1.87 billion

Market structure

Fragmented

YoY growth (%)

11.08

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 48%

Key consumer countries

US, UK, Canada, Japan, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Applied Business Software Inc., Black Knight Inc., Constellation Software Inc., Fiserv Inc., LOAN SERVICING SOFT Inc., Nortridge Software LLC, Nucleus Software Exports Ltd., PCFS Solutions, Shaw Systems Associates LLC, and Simnang LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Loan Servicing Software Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive loan servicing software market growth during the next five years
  • Precise estimation of the loan servicing software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the loan servicing software industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of loan servicing software market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Application software

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Deployment

    • 5.1 Market segments
      • Exhibit 15: Deployment - Market share 2020-2025 (%)
    • 5.2 Comparison by Deployment
      • Exhibit 16: Comparison by Deployment
    • 5.3 Cloud-based - Market size and forecast 2020-2025
      • Exhibit 17: Cloud-based - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Cloud-based - Year-over-year growth 2020-2025 (%)
    • 5.4 On-premise - Market size and forecast 2020-2025
      • Exhibit 19: On-premise - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: On-premise - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Deployment
      • Exhibit 21: Market opportunity by Deployment

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 25: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 29: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 38: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 39: Landscape disruption
          • Exhibit 40: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 41: Vendors covered
        • 10.2 Market positioning of vendors
          • 10.3 Applied Business Software Inc.
            • Exhibit 43: Applied Business Software Inc. - Overview
            • Exhibit 44: Applied Business Software Inc. - Product and service
            • Exhibit 45: Applied Business Software Inc. - Key News
            • Exhibit 46: Applied Business Software Inc. - Key offerings
          • 10.4 Black Knight Inc.
            • Exhibit 47: Black Knight Inc. - Overview
            • Exhibit 48: Black Knight Inc. - Business segments
            • Exhibit 49: Black Knight Inc. - Key offerings
            • Exhibit 50: Black Knight Inc. - Segment focus
          • 10.5 Constellation Software Inc.
            • Exhibit 51: Constellation Software Inc. - Overview
            • Exhibit 52: Constellation Software Inc. - Product and service
            • Exhibit 53: Constellation Software Inc. - Key offerings
          • 10.6 Fiserv Inc.
            • Exhibit 54: Fiserv Inc. - Overview
            • Exhibit 55: Fiserv Inc. - Business segments
            • Exhibit 56: Fiserv Inc. - Key News
            • Exhibit 57: Fiserv Inc. - Key offerings
            • Exhibit 58: Fiserv Inc. - Segment focus
          • 10.7 LOAN SERVICING SOFT Inc.
            • Exhibit 59: LOAN SERVICING SOFT Inc. - Overview
            • Exhibit 60: LOAN SERVICING SOFT Inc. - Product and service
            • Exhibit 61: LOAN SERVICING SOFT Inc. - Key offerings
          • 10.8 Nortridge Software LLC
            • Exhibit 62: Nortridge Software LLC - Overview
            • Exhibit 63: Nortridge Software LLC - Product and service
            • Exhibit 64: Nortridge Software LLC - Key News
            • Exhibit 65: Nortridge Software LLC - Key offerings
          • 10.9 Nucleus Software Exports Ltd.
            • Exhibit 66: Nucleus Software Exports Ltd. - Overview
            • Exhibit 67: Nucleus Software Exports Ltd. - Business segments
            • Exhibit 68: Nucleus Software Exports Ltd. - Key News
            • Exhibit 69: Nucleus Software Exports Ltd. - Key offerings
            • Exhibit 70: Nucleus Software Exports Ltd. - Segment focus
          • 10.10 PCFS Solutions
            • Exhibit 71: PCFS Solutions - Overview
            • Exhibit 72: PCFS Solutions - Product and service
            • Exhibit 73: PCFS Solutions - Key offerings
          • 10.11 Shaw Systems Associates LLC
            • Exhibit 74: Shaw Systems Associates LLC - Overview
            • Exhibit 75: Shaw Systems Associates LLC - Product and service
            • Exhibit 76: Shaw Systems Associates LLC - Key offerings
          • 10.12 Simnang LLC
            • Exhibit 77: Simnang LLC - Overview
            • Exhibit 78: Simnang LLC - Product and service
            • Exhibit 79: Simnang LLC - Key offerings

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 80: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 81: Research Methodology
              • Exhibit 82: Validation techniques employed for market sizing
              • Exhibit 83: Information sources
            • 11.4 List of abbreviations
              • Exhibit 84: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
            Interested in this report?
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            Loan Servicing Software market growth will increase by $1878.3 million during 2021-2025.
            The loan servicing software market is expected to grow at a CAGR of 11.5% during 2021-2025.
            Technavio has segmented the loan servicing software market by deployment (Cloud-based, On-premise, Cloud-based, and On-premise) and geographic (North America, Europe, APAC, South America, and MEA).
            Applied Business Software Inc., Black Knight Inc., Constellation Software Inc., Fiserv Inc., LOAN SERVICING SOFT Inc., Nortridge Software LLC, Nucleus Software Exports Ltd., PCFS Solutions, Shaw Systems Associates LLC, Simnang LLC are a few of the key vendors in the loan servicing software market.
            North America will register the highest growth rate of 48.33% among the other regions. Therefore, the loan servicing software market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the loan servicing software market growth are:
            • Demand for efficiency in lending operations
            • Strategic partnerships and acquisitions between market participants
            The loan servicing software market vendors should focus on grabbing business opportunities from the cloud-based segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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