UAE Debt Collection Market is in the Growing Stage, Driven by Changing IT Policies and Documentation and Rise in Awareness Due to the COVID-19 Pandemic among the Population: Ken Research

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The Collection Industry in UAE peaked right before and during the pandemic. Increased amount of lending along with rising defaults presents great opportunities for debt collection.

Covid Led Growth: COVID-19 pandemic bough certain challenges for debt collection agencies in terms of worsening the financial situation of debtors leading them to refuse paying their debts. However, it made the public more aware about the existence of debt collection services which motivated them to fulfil their debt obligations. Pandemic also increased the number of default accounts bringing more business for collection agencies and inducing growth.

Rise in Digital Collections: Debt Collection companies used to rely on phone-calls to make recoveries which led to terrible customer experience and wastage of time. Digital collections are being extensively used which leverages analytics to make the process more efficient and act as catalysts for the industry.

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Growing focus on Regulatory Compliance: Debt Collection companies have started to place more focus on complying with all regulations for a better customer service. They are maintaining proper documents, getting cheques as proof for future payment and amending the penalty terms.

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 provided safety for debtors and changed the shape of debt collection 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-Finance
• Finance
• Insurance

Segmentation by Type of Firm

• Debt Collection Agency
• Law Firm

Segmentation by Age of Firm:

• 0 to 10 yrs
• 10 to 20 yrs
• 20 to 30 yrs

Segmentation by Geographical Presence

• Abu Dhabi
• Dubai
• Fujairah
• Sharjah
• Ajman
• Umm Al-Quwain
• Ras Al-Khaimah

Sub-segmentation of insurance segment & financing segment

Sub-segmentation of insurance segment:

• Motor & Transportation
• Property/Fire
• Liability & Others

Sub-segmentation of financing segment:

• Real State
• Personal
• Financial institution
• Services
• Manufacturing
• Trade
• Others

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Key Target Audience

• Existing Debt Collection Companies
• Law Firms
• Financing Companies
• Non-Financing Companies
• Insurance Companies
• Debt Collection & Management software providers
• Government Agencies
• Finance Consultants
• Others

Time Period Captured in the Report:

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

Companies Covered:

SUPPLY SIDE:

Debt Collection Companies

• Tahseel
• CMS
• Aman Debt Collection
• First Solution
• Credit Recovery
• AW Holding
• Bilkish
• Derby Group of Companies
• Alpha Debt Collection
• Fort Equity
• Quick Action
• ATDC
• com
• ALQADA

Law firms/Debt Collection

• Taswiyeh
• ASKTHELAW
• HHS LAWYERS
• DUBAI DEBT RECOVERY
• STA
• AE
• AL ROWAAD
• AL SAFAR
• BIN EID

Regulatory Bodies and Judiciary

• Central Bank of the UAE
• Judicial Department

DEMAND SIDE:

Insurance companies

• Etihad Credit Insuranc
• Atradiuse
• CIGNA
• COFACE
• PACIFIC PRIME
• MetLIFE
• ACE
• Emirates RE

Financing companies

• Emirates NBD
• ADCB
• DUBAI FIRST
• Mashreq
• Commercial Bank of Dubai
• Dubai Islamic Bank
• HSBC
• RAKBANK
• ADIB
• FAB
• CITYBANK

Non-Finance companies

• Etisalat
• Emircom
• Etihad Water and Electricity
• Abu Dhabi Distribution Companies
• Emaar
• Nakheel
• Lufthansa
• Choithrams
• Asian Paints
• Majid UL Futaim
• Naseej

Key Topics Covered in the Report                            

• Global Debt Collection Market Overview
• Ecosystem of UAE Debt Collection Market – Demand and Supply Side
• Value Chain Analysis – Amicable Settlement and Litigation Settlement
• Market Size and Segmentation of Debt Collection Industry in UAE, 2017-2022
• UAE Debt Collection Market Industry Analysis
• Software used in UAE Debt Collection Market
• Market Shares of Major Debt Collection Companies in UAE on the basis of Debt Collected, 2022
• Competitive Analysis
• Future 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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KSA Debt Collection Market Outlook to FY'2026

Philippines Auto Finance Market Is Expected To Reach Over PHP 1,100 Bn By 2027. Will The Philippines Auto Finance Market Stand On This Expected Figure? : Ken Research

 All major banks in the Philippines finance all passenger vehicles to cater to the diverse needs of borrowers and to remain competitive in the market. The Market is moderately fragmented. BDO, PNB, RCBC, Maybank and Metrobank can be positioned as leaders in Philippines Auto Finance Market owing to their large customer base, demand for auto loans and higher digital penetration.

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1. Online Auto Finance Aggregator Platforms are emerging in the country to simplify the auto loan acquisition process in Philippines.

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New Aggregator platforms are ­direct-to-consumer channels that allow buyers to obtain loans online and get them approved before going to the dealers.

These platforms collaborate with Banks, Captives, NBFCs, Fintech lenders and other peer-to-peer lending platforms to provide multiple financing options.

Services range from personalized ­interest rates and variable terms, shared leasing and car subscriptions.

This leads to more transparent and streamlined car-buying process that eliminates obstacles such as asymmetric information and delays in credit approvals.

2. Financial Institutes can further improve on its performance by targeting the used vehicle market and focusing on Electric Vehicles.

Flexible Payment Plan

Flexible payment plan adoption makes auto loans segment more consumer friendly & affordable and is a promotional technique used by other banks & captive to attract customers.

Promotional offers for Electric Vehicles

An annual growth rate of 8-12% is expected that will produce P1.68 B revenue from services and sales of 200,000 units by 2024.

Strong dealership connection:

Incentivize dealers with the number of leads they generate with position and commission.

For more insights on market intelligence, refer to the link below: –

Philippines Auto Finance Market

Exploring New Trade and Development Avenues: India's Construction Chemical Market Ventures into Emerging Regions and Domains: Ken Research

 1. India's Construction Chemicals Market: Emerging Powerhouse in Southeast Asia Driven by Growth, M&A, and Government Aid.

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With a rich legacy dating back to 1892, when Bengal Chemicals and Pharmaceutical Works was established, the Indian chemical industry has experienced impressive progress. Initially dominated by organized players like Pidilite, MBCC, Sika, and Fosroc, the market has now opened up to new possibilities.

Investments in commercial and residential infrastructure, along with government collaborations, are driving the growth of the India construction chemicals market. Mergers and acquisitions have been instrumental in securing a competitive advantage across industry segments.

The sector is witnessing the entry of prominent companies such as Nippon Paint and JSW Cement, signaling the market's potential. Embracing sustainability, manufacturers are prioritizing technical products that reduce carbon footprint, challenging traditional concrete and cementitious chemicals.

India's construction chemicals Industry continues to evolve, propelled by its legacy, growth opportunities, and commitment to innovation.

2. Dynamic Ecosystem and Collaborative Efforts Drive India's Construction Chemicals Market with 200+ Players and Industry Bodies.

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The Indian construction chemicals market is marked by the presence of approximately 200 players, comprising both international and domestic companies. These players bring a diverse range of expertise and offerings to the market. Some international companies have established manufacturing units within the country or import raw materials and finished products from other countries. The concentration of major head offices in Mumbai, Thane, and Pune is attributed to the strategic proximity to the JNPT port, which plays a crucial role in facilitating imports for the industry. The dependence on imports underscores the significance of these locations as key hubs for the construction chemicals sector in India.

Global Electric Motor Market Size Worth USD 160 Bn by 2027. Will Global Electric Motor Market stand on this projected figure? Ken Research

The electric motor market is moderately fragmented. Some of the major companies are ABB Ltd. AMETEK Inc., Johnson Electric Holdings Limited, Siemens AG, Rockwell Automation, Toshiba Corp., Hitachi Ltd, and Toshiba Corp.

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1. Rising demand for energy-efficient systems:

Demand for energy-efficient solutions has increased across several industries as a result of rising worries about energy consumption and environmental sustainability. Electric motors are an appealing option for a variety of applications due to their excellent energy efficiency when compared to conventional combustion engines. Particularly strong demand exists for electric motors in the automotive, industrial machinery, and HVAC (heating, ventilation, and air conditioning) industries.

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2. Stringent Government policies

To minimize greenhouse gas emissions and encourage the use of renewable energy technology, governments throughout the globe have put strict laws into place. Many nations have implemented regulations to promote the use of electric motors and other electric vehicle components, including subsidies, tax breaks, and refunds. The global electric motor market has grown significantly as a result of these encouraging policies.

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report: 

• Electricity Supplier
• EV Manufacturers
• EV Charging Equipment Manufacturers
• EV Charging System Operator
• Demand side Transport Operators
• Government Bodies

Time Period Captured in the Report:

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

For more information on the research reports, refer to below link:

Global Electric Motor Market Outlook to 2027

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3 trends driving the Global Labeling Machine Market- Revenues to exceed USD 4 Mn by 2027

 Global labeling machine market is at a growing stage. It is a fragmented market with the presence of many labeling companies. The labeling machine market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more personalized platform. Few major global labeling machine players are Sacmi Imola S.C., Accutek Packaging Equipment Companies, Inc, Krones AG., SIDEL, Barry-Wehmiller Group, Inc etc.

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1. Growing Adoption of Automatic Labeling Machine.

Use Case of Label Printing Machine Market

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Labeling done manually is time-consuming, and it is not a professional way of packing the product, especially during bulk production. Using a labeling machine to package products is time-saving and more professional. Labeling machines are commonly used in pharmaceutical industries, durable consumer industries, FMCG, and many other packaging industries. Fully automatic with advanced labeling features, these machines make the packaging job easy, clean, and hygienic. The work is done within a predetermined time frame and with high precision. Versatility, precision, and speed are key parameters for modern labeling machines, for example, with respect to the print module employed. Innovative rotary discs, electronic digital displays, readily changeable format sets, and smooth functioning of the machine are essential elements of the system.

2. Increasing Demand for Automation in Food and Beverage Labelling will induce growth in labelling machine market.

Predictive Analytics Process in Food Labeling Market

Automation in the food packaging process involves using robotics for food material handling. Most food packaging facilities use complex machines throughout the assembly line of food packaging. Automation has been a part of food and beverage manufacturing for some time. However, the impact of COVID-19 on labor and operations has led several top industry players to accelerate efforts to implement the technology. Tyson Foods unveiled a new productivity program that aims to create USD 1 billion in savings using digital technology like AI and predictive analytics in operations, supply chain, planning, logistics, and warehousing, as well as the implementation of automation and robotics.

3. Labeling Machines Market Segmented By Technology Globally, 2022
   
   
   

Over the forecast period, pressure-sensitive labelers are anticipated to be the most used label technology. They have widespread applications in the food and beverage industry. Their applications are not limited to food and beverage but are also being used in the pharmaceutical industry, consumer durables, personal care, and other industries like construction. Owing to the versatility of PSLs, the demand for such labelers is increasing. This has propelled the players in the industry to expand their capacities, which enables them to cater to the rising market demand. The growing demand for pressure-sensitive labels has resulted in increased vendor activity leading to increased investment in the segment

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Labelling Machine Manufacturers
• Labelling Machine Investors
• Labelling Machine Providers
• Labelling Machine Suppliers
• Labelling Machine Components Suppliers
• Allied Industries of Labelling Machines
• Government Ministries and Departments of Engineering Industry
• Labelling Machine Research and Development Companies
• Potential Entrants into Labelling Machine Industry

Time Period Captured in the Report

• Historical Period:2017-2022
• Base Period:2022
• Forecast Period:2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Labelling Machine Market Outlook to 2027

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Australia Plastic Pipe Market Outlook to 2027F

Increasing internet penetration along with launch of 5G and electricity generation will Nigeria data center market: Ken Research

 1. Data center industry in Nigeria is dominated by Africa Data Centers and Open Access Data Centre, and is expected to grow with a robust CAGR from 2022 to 2027F.

Nigeria Private Equity and Venture Capitalist

The growing demand for smart devices, the increasing demand for analytics, cloud adoption, and wireless networking technologies will increase the investment in big data and IoT technology. Solar Naija project, National Broadband Plan and national Digital Economy Policy and strategy (2020-2030) will significantly boost data centre market in Nigeria.

2. Co-Location captures nearly more than half of the market share in 2022 as it provides redundant power supply, better security and scalability at lower price to host businesses.

 

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The co-location accounted for the highest market share of over ~70%. Colocation services are a major revenue contributor in the data centre market in Nigeria. More and more businesses are opting for colocation because of the convenience, security of their IT infrastructure and less power cuts. They provide redundant power supply, better security, and scalability at a lower price.

3. Retail co-location service has more preference in Nigeria data center market as there aren’t many big players who are willing to buy more than 10-15 racks.

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Retail by type of co-location accounted for the highest market share. This is due to dominance of small and medium businesses in Nigeria looking forth to retail colocation spaces. Big players either go for hyperscale or decide to have their captive data centre spaces. There is a limited presence of wholesale colocation because only few big players are willing to buy more than 10-15 racks.

For More Information on the research report, refer to below link: –

Nigeria Data Centre Market Outlook to 2027

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Indonesia Data Center and Cloud Services Market Outlook to 2024

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3 technology trends that will drive the Global E-learning markets to reach $ 400 Bn by 2027 says a report by Ken Research

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Global E-learning Market Ecosystem

Global E-learning Market is at a growing stage. It is a fragmented market with the presence of many e-learning companies. The e-learning market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more personalized learning platform. Few major global e-learning players are Aptara, Inc, Adobe Systems Inc, Cornerstone, Citrix Education, Meridian Knowledge Solutions, Microsoft Corporation etc.

E-learning Global Service Provider Market

1.Mobile Learning Technologies are Growing at a Fast Pace

The mobile learning technology has witnessed faster adoption in the eLearning market with the increased use of smartphones. Many application-based knowledge platforms are being developed which allow smartphone users to gain insights into any topic in real-time. Some educational institutes and universities develop their own mobile-based applications that allow the students to log in to the student portal and get access to the missed lectures. A few prominent mobile applications currently in use in the corporate sectors are Udemy, Skill Pill, Design Jot, and Boost HQ. Furthermore, the developers in the market also offer a game-based application platform that is used for teaching children with the help of interactive animated videos and pictures. These technologies enable schools to enhance the logical & reasoning skills and IQ of their students.

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2.Increasing Use of VR and AR Applications to Create Lucrative Opportunities for the Global E-learning Market

Virtual reality technology facilitates deep learning by decreasing danger and immersing learners in a new setting. Because they provide practical answers, AR and VR technologies are increasingly being employed in the classroom. Virtual reality is being used to carry out complex procedures and handle high-risk situations. They cater to individual needs and assist students in developing a fully immersive learning experience. Immersive VR Education is a software company founded in 2014. They are best known for their ENGAGE platform that was specifically built for training and education based on virtual reality. Alchemy VR is another such platform which is one of the leaders in modern technological innovations in the realm of education.

3.Insight by Deployment Model in the e-learning space: Based on the deployment model, the cloud segment is leading the industry globally and is expected to register the fastest CAGR over the foreseen period. Cloud-based solutions are gaining remarkable traction in schools and universities due to their cost-effective and flexible training approaches for students. The cloud computing-based e-learning technology further enables educational institutions to build a virtual environment for learners and educators. Thus, cloud technology is majorly implemented in the education sector, which is expected to contribute towards high segmental growth. The public cloud deployment model works well with companies with little privacy concerns. Amazon Elastic Compute Cloud (Amazon EC2), AWS (Amazon Web Services), Microsoft Azure, IBM Cloud, Google Cloud, Salesforce Heroku are a few examples of public cloud deployments.

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Market Taxonomy

By Provider

• Content Provider
• Service Provider

By Deployment Model

• On-premise
• Cloud

By Course

• Primary and Secondary Education
• Higher Education
• Online Certification and Professional Course
• Test Preparation

By End User

• Academic
• Corporate
• Government

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

Key Target Audience 

• E-Learning Companies
• LMS Platforms
• Language Learning Platforms
• Institutes/Colleges
• Schools
• Investors
• Industry Associations
• Consulting Agencies
• Government Bodies & Regulating Authorities

Time Period Captured in the Report

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

Major Players Mentioned in the Report

• Adobe
• Aptara Inc.
• Articulate Global, LLC
• CERTPOINT
• Cisco Systems, Inc.
• Citrix Systems, Inc.
• D2L Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE

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

Global E-learning Market

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Turkey E-Learning Technology and Content Market Outlook to 2023 - Growing Demand for M-Learning and Higher Use of Videos and Animation to Foster Market Growth

UAE Experiential Learning Market Outlook to 2025- Concentrated Activity Box and E-Learning Segment Paving Ways for International Players to Expand

UAE’s Freight Forwarding Market To Grow At The Rate Of 7.20% In The Upcoming Period Between 2021 To 2026 Owing To Government Policies Such As Growth OD E-Commerce Industry Alongside Technological Innovations Such As Efficient Freight Matching: Ken Research

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History of steady growth alongside a positive future forecast provides UAE’s logistics Market increasing confidence & interest of stakeholders, says a report by Ken Research

1. Various Factors to be the backbone of Market development in UAE’s Freight Forwarding Market

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The government is also upgrading airports, ports, and transportation networks.  Factors such as development of sea ports alongside introduction of innovative technologies such as Blockchain is expected to drive the future market growth of UAE Logistics Market.  Nearly a half of GCC countries cargo inbound flows are channeling through UAE as of 2022. Therefore, expansion of handling capacity of ports such as Khalifa Port, will serve as a catalyst for the freight forwarding market in UAE.

2. “Technology to the Rescue:” Efficient Freight Matching, Better Profitability, Smarter Operations and Greater Service Quality are some of the benefits of Digital Freight Aggregator Platforms.

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Technology options such as Efficient Freight Matching, better profitability, smarter operations & greater service quality serve as a major benefit for UAE’s Logistics Market. A major benefit of Digital Truck Aggregator Platforms is that they have a large Shipper and Trucker Base and offer services such as Freight Listing, Freight Brokerage and Online Transactions to earn revenue. Furthermore, digital Truck aggregator platforms are reshaping the trucking industry in UAE by increasing operational efficiency, reducing costs & increasing profitability.

For more insights on market intelligence, refer to the link below: –

UAE Logistics Market Report

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Unveiling the Global Rise of Luxury Watches and Evolving Consumer Trends- Ken Research

 Storyline

• Global luxury watches sales soar, driven by factors like brand awareness and the desire for exclusivity, propelling the growth of the market.
• Switzerland remains a leader in watch production, with Asia emerging as a key market. Market players expand in developing economies to tap into their potential.
• Consumers prioritize quality and branding over price, and technological advancements maintain the demand for luxury watches.
• An emerging trend sees collectors purchasing stylish non-functional timepieces, emphasizing style over substance. The luxury watch market continues to evolve, driven by the Swiss watch industry and changing consumer preferences.

Introduction:

The preference for luxury watches among consumers across the globe has witnessed an up growth owing to the influence of the Swiss watch industry. Although the luxury Market for Watches is quite mature or settled, the predicted growth of any brand across the global market can witness a sudden change at any given moment as a result of a shift in consumer purchase behaviour and patterns.

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1. High End watches sale around the world

As per Retail Dive, USD 5 Mn alone was spent on Rolex watches at Heathrow Airport in August 2017, and the sales in the luxury watches and jewellery category was up a staggering 74%. Additionally, the sales of luxury watches in the United Kingdom rose by 53.5% in October 2017.

Additionally, the increase in brand awareness, the influence of Western trends, and the inherent desire for exclusivity are some of the factors that have been contributing to the increased demand for luxury watches over the review period. These factors are projected to influence the demand for luxury watches over the forecast period, thereby propelling the growth of the Global Watch Market.

2. Switzerland continues to reign as a world leader in the production of watches

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Backed by the strength of its luxury watch business, Switzerland continues to reign as a world leader in the production of watches. Countries in Asia, especially Japan and Singapore, have established themselves as key markets for Swiss watches due to the high consumer spending levels in these regions

 The players operating in the market have been focusing on expanding their presence to developing economies to tap the potential of the market. For instance, Garmin Company has expanded its presence in

India by launching its premium luxury watch collection called the Marq. The company’s line of products offers preloaded features such as built-in storage for music, Garmin Pay integration, smart notifications, and daily activity tracking. The new products also feature wrist-based heart rate and Pulse Ox2 sensors

3. Key factors considered by consumers while making purchase

The key factors considered by consumers while making purchase decisions include the quality and branding rather than the price of the products, as these purchases tend to be status-driven. In the luxury watch industry, improvements in technology and quality without a compromise on durability and comfort have helped maintain the demand for these products. A new trend observed among collectors is the purchase of stylish timepieces which do not work, owing to the prioritization of style over substance.

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According to Ken Research: The luxury watch market continues to thrive globally, with the influence of the Swiss watch industry and evolving consumer preferences shaping its growth. High-end sales, Switzerland's watch production dominance, and consumer considerations contribute to the dynamic landscape of the luxury watch industry.

Rise in Digital Collection Techniques and Improvement in UAE Legal System Related to Debt Collection Will Boost UAE Debt Collection Market: Ken Research

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1.Debt Collection Market in UAE expanded at a CAGR of 11.6% between 2017 and 2022

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The collection industry witnessed increasing growth rates right before and during the COVID-19 pandemic due to a sharp rise in NPL’s, use of technology like digital collection, speech analytics, predictive dialers etc. and rise in collection efforts by the agencies to sustain themselves in the market. The total number of cases settled by debt collection companies in UAE in 2022 stood at more than 200,000 growing at a CAGR of 11.6% from 2017. The Financing segment has the highest ticket size with non-finance being the lowest. There was a sudden increase in debt collected and cases settled in 2021 due to increased defaults in 2020 due to pandemic leading to more cases being outsourced and hence, companies improved upon their efforts to collect more debt over the next period.

2.Most of the Debt Collection Agencies and Law Firms have their presence in Abu Dhabi and Dubai.

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The majority of the collection agencies are based out of Abu Dhabi, Dubai and Ras Al-Khaimah accounting for more than 70% of the total market. This happens due to ease of legal structure in these emirates as compared to the others as they have their own local judicial systems and do not follow the federal judicial systems present in emirates like Sharjah, Ajman etc. Presence of free zones including DIFC in Dubai and ADGM in Abu Dhabi also acts as a incentive for companies to establish themselves in these regions due to benefits.

3.Pandemic-induced trend, a greater emphasis on NLP techniques and maintaining proper documentation are acting as key growth drivers.

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. 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. In addition, 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. Moreover, Covid-19 made the public more aware about the existence of debt collection services which motivated them to fulfil their debt obligations. Pandemic also increased the number of default accounts bringing more business for collection agencies and inducing growth.