Debt Collection Market UAE to 2027: Ken Research

UAE Debt Collection Market is Expected to Reach More Than AED 5Bn by 2027 Owing to Rise in digital collection techniques and Improvement in UAE legal system related to debt collection, bankruptcy and insolvency: Ken Research

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UAE Debt Collection Market Ecosystem

Tahseel, First Solution Management Service are the market leaders in UAE Debt Collection Market; the market is highly fragmented consisting of many players. The UAE Debt Collection Market is composed of many players which are operating across the borders and not just within the UAE.

 Key Market Findings:

Digital collections are being extensively used which leverages analytics to make the process moreCollection agents are being trained to equip them with latest technology and to adept them to various consumer situations for providing more feasible solutions.The industry is slowly becoming more customer-centric in its approach.

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IT Policies and Proper Documentation: Companies are maintaining proper documentation and proof for all debt provided by them to corporates and individuals. This makes it much easier for debt collection agencies to recover the debt in case of a default both amicably and legally as well through payment order method. Collection companies which provide settlement plans to debtors have start taking post-dated cheques as a proof for future payment. Changing IT policies require companies to maintain complete confidentiality of client information due to threat of data breach. All this factors will provide more growth to collection industry.

Emphasis on NLP Techniques: Collection agencies are extensively using various speech analytics tools to record and analyse customer conversations. This enables to maintain security and gain insights into client expectations. In addition, the information gathered can further be used for training of employees adapting them to different situations while negotiating and hence, improving their performance which would act as a key growth driver for debt collection companies.

Favorable Changes in UAE Legal System: The new legal system at UAE makes it possible to recover debts via court in merely within 7 days if all the documents are readily available. The new Bankruptcy law also provides safety for debtors and changes the shape of debt collection industry. Ultimately, act as catalysts for the industry.

Analysts at Ken Research in their latest publication- “UAE Debt Collection Market Outlook to 2027- Characterized by fierce competition and high growth prospects” by Ken Research provides a comprehensive analysis of the potential of the debt collection market in UAE. Rise in digital collection techniques and increasing use of AI and ML for recovery predictions are expected to contribute to the market growth over the forecast period.

UAE debt collection market is expected to grow at a robust CAGR over the forecasted period 2022-2027.

Key Segments Covered

Segmentation by Segment

Non-FinanceFinanceInsurance

Segmentation by Type of Firm

Debt Collection AgencyLaw Firm

Segmentation by Age of Firm:

0 to 10 yrs10 to 20 yrs20 to 30 yrs

Segmentation by Geographical Presence

Abu DhabiDubaiFujairahSharjahAjmanUmm Al-QuwainRas Al-Khaimah

Sub-segmentation of insurance segment & financing segment

Sub-segmentation of insurance segment:

Motor & TransportationProperty/FireLiability & Others

Sub-segmentation of financing segment:

Real StatePersonalFinancial institutionServicesManufacturingTradeOthers

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Key Target Audience

Existing Debt Collection CompaniesLaw FirmsFinancing CompaniesNon-Financing CompaniesInsurance CompaniesDebt Collection & Management software providersGovernment AgenciesFinance ConsultantsOthers

Time Period Captured in the Report:

Historical Period: 2017-2022Base Year: 2022Forecast Period: 2022–2027

Companies Covered:

SUPPLY SIDE:

Debt Collection Companies

TahseelCMSAman Debt CollectionFirst SolutionCredit RecoveryAW HoldingBilkishDerby Group of CompaniesAlpha Debt CollectionFort EquityQuick ActionATDCcomALQADA

Law firms/Debt Collection

TaswiyehASKTHELAWHHS LAWYERSDUBAI DEBT RECOVERYSTAAEAL ROWAADAL SAFARBIN EID

Regulatory Bodies and Judiciary

Central Bank of the UAEJudicial Department

DEMAND SIDE:

Insurance companies

Etihad Credit InsurancAtradiuseCIGNACOFACEPACIFIC PRIMEMetLIFEACEEmirates RE

Financing companies

Emirates NBDADCBDUBAI FIRSTMashreqCommercial Bank of DubaiDubai Islamic BankHSBCRAKBANKADIBFABCITYBANK

Non-Finance companies

EtisalatEmircomEtihad Water and ElectricityAbu Dhabi Distribution CompaniesEmaarNakheelLufthansaChoithramsAsian PaintsMajid UL FutaimNaseej

Key Topics Covered in the Report                            

Global Debt Collection Market OverviewEcosystem of UAE Debt Collection Market – Demand and Supply SideValue Chain Analysis – Amicable Settlement and Litigation SettlementMarket Size and Segmentation of Debt Collection Industry in UAE, 2017-2022UAE Debt Collection Market Industry AnalysisSoftware used in UAE Debt Collection MarketMarket Shares of Major Debt Collection Companies in UAE on the basis of Debt Collected, 2022Competitive AnalysisFuture Outlook and Projections, 2022-2027 

For More Insights On Market Intelligence, Refer to the Link Below: –

UAE Debt Collection Market Outlook to 2027

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