In this enlightening whitepaper, we delve into the intricacies of the UAE’s debt collection industry, which has witnessed a formidable surge in growth over the last five years. Amidst this backdrop of remarkable expansion, the industry now confronts a shifting terrain marked by emerging challenges and evolving bottlenecks. But with newer challenges and evolving bottlenecks, will the industry’s robustness decline? Check out the entire whitepaper to find out more.
1. The Debt Collection Industry in UAE experienced a high volume of cases due to ease of credit availability & the industry saw a ~11% Compound Annual Growth Rate (CAGR) between 2017-22
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2. The increasing use of technology for better recovery predictions, enhancement of people skills of collectors and improvement in KSA legal system act as catalysts for the industry…
2.1…While, talent shortage, increasing labor costs and high default rates are major concerns for the incumbent players in the market
2.2 Moreover, High capital requirements and switching costs for customers create barriers for new entrants within the industry
3. But, the Debt collection platforms integrated armed with latest tech is starting to transform the entire debt recovery process for clients
4. The pandemic-induced financial trends, a greater emphasis on NLP techniques, and maintaining proper documentation will act as key growth drivers that will enable a double-digit CAGR over the next 5 years
Some of the Intelligence Curated by Ken Research in Debt Collection Market Space:
- MENA Remittance Market Outlook to 2027 segmented by mode of transfer (digital, traditional), type of channel (Banks, online platforms, money transfer operators), type of end use (migrant labour workforce, personal, small business & others) Geography (Latin America, Africa, Asia Pacific, Europe, Middle East)
- Australia Cards and Payment Market Outlook to 2027F By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
- Brazil Cards and Payment Market Outlook to 2027F By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS and ATMs), By Payment Instruments (Credit Transfers, Direct Debit, Cheques, Cash and Payment Cards)
- Global Remittance Market Outlook to 2027 segmented by mode of transfer (digital, traditional), type of channel (Banks, online platforms, money transfer operators), type of end use (migrant labour workforce, personal, small business & others) Geography (Latin America, Africa, Asia Pacific, Europe, Middle East)
- India Payment Service Market Outlook to 2027F driven by government initiatives & rising need for faster payment modes
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UAE Debt Collection Market
The post Why UAE’s Debt Collection Industry is poised for growth despite the many challenges it faces in a competitive market? : Ken Research appeared first on Ken Research.
