The North America Insolvency Software Market would witness market growth of 9.9% CAGR during the forecast period (2023-2030).
The market consists of various software solutions designed to assist professionals, such as insolvency practitioners, lawyers, accountants, and financial advisors, in managing insolvency processes effectively. These tools are tailored to streamline bankruptcy, restructuring, debt management, and compliance tasks. This software encompasses a myriad of functionalities, including robust case management systems that streamline documentation, communication, and deadline tracking. Such tools play a pivotal role in ensuring that insolvency practitioners can effectively oversee cases, manage workflows, and adhere to critical timelines stipulated by regulatory frameworks.
Moreover, the financial analysis component of the software remains a cornerstone of its utility. These solutions are engineered to provide comprehensive insights into distressed entities' financial health and viability. Professionals can conduct in-depth assessments through advanced analytical capabilities, enabling informed decision-making in restructuring or liquidation. This facet not only assists in evaluating the current financial landscape but also aids in forecasting potential outcomes, allowing the stakeholders to devise strategic plans amidst financial turbulence.
North America has experienced a rise in insolvency cases, particularly in periods of economic downturns or market uncertainties. According to a report published by the Administrative Office of the U.S. Courts in July 2023, there was a 10% increase in personal and business bankruptcy filings compared to the same period in 2022. Additionally, The demand for solutions that can keep track of international transactions is also increasing in the region. For example, Mexico engages in cross-border trade of energy products, particularly oil and natural gas. The country exports crude oil and refined petroleum products to the United States while importing natural gas and refined fuels. Thus, the aforementioned factors will support the growth of the regional market in the coming years.
The US market dominated the North America Insolvency Software Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $628.1 million by 2030. The Canada market is experiencing a CAGR of 12.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 11.4% during (2023 - 2030).
Based on Component, the market is segmented into Solution, and Services (Professional Services, Managed Services). Based on Organization Size, the market is segmented into Large Enterprises, Small & Medium Enterprises. Based on Application, the market is segmented into Document Management, Financial Transaction Management, Reporting, Compliance, Creditor Management, and Others. Based on Vertical, the market is segmented into BFSI, Manufacturing, IT & Telecom, Energy & Utilities, Government, Retail, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Insolvency Software Market is Predict to reach $3 Billion by 2030, at a CAGR of 10.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Themis Solutions Inc. (Clio), Aryza Ltd. (Macquarie Group Limited), Stretto, Inc., Epiq Systems, Inc. (OMERS Private Equity Inc.), Kroll, LLC, Turnkey Computer Technology Ltd, Panther Software, LLC, Fastcase, Inc. (vLex, LLC), Standard Legal Network, LLC and LegalPRO Systems, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Services
- Professional Services
- Managed Services
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Application
- Document Management
- Financial Transaction Management
- Reporting
- Compliance
- Creditor Management
- Others
By Vertical
- BFSI
- Manufacturing
- IT & Telecom
- Energy & Utilities
- Government
- Retail
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Themis Solutions Inc. (Clio)
- Aryza Ltd. (Macquarie Group Limited)
- Stretto, Inc.
- Epiq Systems, Inc. (OMERS Private Equity Inc.)
- Kroll, LLC
- Turnkey Computer Technology Ltd
- Panther Software, LLC
- Fastcase, Inc. (vLex, LLC)
- Standard Legal Network, LLC
- LegalPRO Systems, Inc.
TABLE 1 North America Insolvency Software Market, 2019 - 2022, USD Million
TABLE 2 North America Insolvency Software Market, 2023 - 2030, USD Million
TABLE 3 North America Insolvency Software Market by Component, 2019 - 2022, USD Million
TABLE 4 North America Insolvency Software Market by Component, 2023 - 2030, USD Million
TABLE 5 North America Solution Market by Region, 2019 - 2022, USD Million
TABLE 6 North America Solution Market by Region, 2023 - 2030, USD Million
TABLE 7 North America Services Market by Region, 2019 - 2022, USD Million
TABLE 8 North America Services Market by Region, 2023 - 2030, USD Million
TABLE 9 North America Insolvency Software Market by Services Type, 2019 - 2022, USD Million
TABLE 10 North America Insolvency Software Market by Services Type, 2023 - 2030, USD Million
TABLE 11 North America Professional Services Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Professional Services Market by Country, 2023 - 2030, USD Million
TABLE 13 North America Managed Services Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Managed Services Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Insolvency Software Market by Organization Size, 2019 - 2022, USD Million
TABLE 16 North America Insolvency Software Market by Organization Size, 2023 - 2030, USD Million
TABLE 17 North America Large Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Large Enterprises Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Small & Medium Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Small & Medium Enterprises Market by Country, 2023 - 2030, USD Million
TABLE 21 North America Insolvency Software Market by Application, 2019 - 2022, USD Million
TABLE 22 North America Insolvency Software Market by Application, 2023 - 2030, USD Million
TABLE 23 North America Document Management Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Document Management Market by Country, 2023 - 2030, USD Million
TABLE 25 North America Financial Transaction Management Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Financial Transaction Management Market by Country, 2023 - 2030, USD Million
TABLE 27 North America Reporting Market by Country, 2019 - 2022, USD Million
TABLE 28 North America Reporting Market by Country, 2023 - 2030, USD Million
TABLE 29 North America Compliance Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Compliance Market by Country, 2023 - 2030, USD Million
TABLE 31 North America Creditor Management Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Creditor Management Market by Country, 2023 - 2030, USD Million
TABLE 33 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 34 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 35 North America Insolvency Software Market by Vertical, 2019 - 2022, USD Million
TABLE 36 North America Insolvency Software Market by Vertical, 2023 - 2030, USD Million
TABLE 37 North America BFSI Market by Country, 2019 - 2022, USD Million
TABLE 38 North America BFSI Market by Country, 2023 - 2030, USD Million
TABLE 39 North America Manufacturing Market by Country, 2019 - 2022, USD Million
TABLE 40 North America Manufacturing Market by Country, 2023 - 2030, USD Million
TABLE 41 North America IT & Telecom Market by Country, 2019 - 2022, USD Million
TABLE 42 North America IT & Telecom Market by Country, 2023 - 2030, USD Million
TABLE 43 North America Energy & Utilities Market by Country, 2019 - 2022, USD Million
TABLE 44 North America Energy & Utilities Market by Country, 2023 - 2030, USD Million
TABLE 45 North America Government Market by Country, 2019 - 2022, USD Million
TABLE 46 North America Government Market by Country, 2023 - 2030, USD Million
TABLE 47 North America Retail Market by Country, 2019 - 2022, USD Million
TABLE 48 North America Retail Market by Country, 2023 - 2030, USD Million
TABLE 49 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 50 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 51 North America Insolvency Software Market by Country, 2019 - 2022, USD Million
TABLE 52 North America Insolvency Software Market by Country, 2023 - 2030, USD Million
TABLE 53 US Insolvency Software Market, 2019 - 2022, USD Million
TABLE 54 US Insolvency Software Market, 2023 - 2030, USD Million
TABLE 55 US Insolvency Software Market by Component, 2019 - 2022, USD Million
TABLE 56 US Insolvency Software Market by Component, 2023 - 2030, USD Million
TABLE 57 US Insolvency Software Market by Services Type, 2019 - 2022, USD Million
TABLE 58 US Insolvency Software Market by Services Type, 2023 - 2030, USD Million
TABLE 59 US Insolvency Software Market by Organization Size, 2019 - 2022, USD Million
TABLE 60 US Insolvency Software Market by Organization Size, 2023 - 2030, USD Million
TABLE 61 US Insolvency Software Market by Application, 2019 - 2022, USD Million
TABLE 62 US Insolvency Software Market by Application, 2023 - 2030, USD Million
TABLE 63 US Insolvency Software Market by Vertical, 2019 - 2022, USD Million
TABLE 64 US Insolvency Software Market by Vertical, 2023 - 2030, USD Million
TABLE 65 Canada Insolvency Software Market, 2019 - 2022, USD Million
TABLE 66 Canada Insolvency Software Market, 2023 - 2030, USD Million
TABLE 67 Canada Insolvency Software Market by Component, 2019 - 2022, USD Million
TABLE 68 Canada Insolvency Software Market by Component, 2023 - 2030, USD Million
TABLE 69 Canada Insolvency Software Market by Services Type, 2019 - 2022, USD Million
TABLE 70 Canada Insolvency Software Market by Services Type, 2023 - 2030, USD Million
TABLE 71 Canada Insolvency Software Market by Organization Size, 2019 - 2022, USD Million
TABLE 72 Canada Insolvency Software Market by Organization Size, 2023 - 2030, USD Million
TABLE 73 Canada Insolvency Software Market by Application, 2019 - 2022, USD Million
TABLE 74 Canada Insolvency Software Market by Application, 2023 - 2030, USD Million
TABLE 75 Canada Insolvency Software Market by Vertical, 2019 - 2022, USD Million
TABLE 76 Canada Insolvency Software Market by Vertical, 2023 - 2030, USD Million
TABLE 77 Mexico Insolvency Software Market, 2019 - 2022, USD Million
TABLE 78 Mexico Insolvency Software Market, 2023 - 2030, USD Million
TABLE 79 Mexico Insolvency Software Market by Component, 2019 - 2022, USD Million
TABLE 80 Mexico Insolvency Software Market by Component, 2023 - 2030, USD Million
TABLE 81 Mexico Insolvency Software Market by Services Type, 2019 - 2022, USD Million
TABLE 82 Mexico Insolvency Software Market by Services Type, 2023 - 2030, USD Million
TABLE 83 Mexico Insolvency Software Market by Organization Size, 2019 - 2022, USD Million
TABLE 84 Mexico Insolvency Software Market by Organization Size, 2023 - 2030, USD Million
TABLE 85 Mexico Insolvency Software Market by Application, 2019 - 2022, USD Million
TABLE 86 Mexico Insolvency Software Market by Application, 2023 - 2030, USD Million
TABLE 87 Mexico Insolvency Software Market by Vertical, 2019 - 2022, USD Million
TABLE 88 Mexico Insolvency Software Market by Vertical, 2023 - 2030, USD Million
TABLE 89 Rest of North America Insolvency Software Market, 2019 - 2022, USD Million
TABLE 90 Rest of North America Insolvency Software Market, 2023 - 2030, USD Million
TABLE 91 Rest of North America Insolvency Software Market by Component, 2019 - 2022, USD Million
TABLE 92 Rest of North America Insolvency Software Market by Component, 2023 - 2030, USD Million
TABLE 93 Rest of North America Insolvency Software Market by Services Type, 2019 - 2022, USD Million
TABLE 94 Rest of North America Insolvency Software Market by Services Type, 2023 - 2030, USD Million
TABLE 95 Rest of North America Insolvency Software Market by Organization Size, 2019 - 2022, USD Million
TABLE 96 Rest of North America Insolvency Software Market by Organization Size, 2023 - 2030, USD Million
TABLE 97 Rest of North America Insolvency Software Market by Application, 2019 - 2022, USD Million
TABLE 98 Rest of North America Insolvency Software Market by Application, 2023 - 2030, USD Million
TABLE 99 Rest of North America Insolvency Software Market by Vertical, 2019 - 2022, USD Million
TABLE 100 Rest of North America Insolvency Software Market by Vertical, 2023 - 2030, USD Million
TABLE 101 Key Information – Themis Solutions Inc.
TABLE 102 Key Information – Aryza Ltd.
TABLE 103 Key Information – Stretto, Inc.
TABLE 104 Key Information – Epiq Systems, Inc.
TABLE 105 Key Information – Turnkey Computer Technology Ltd
TABLE 106 Key Information – Panther Software, LLC
TABLE 107 Key Information – Fastcase, Inc.
TABLE 108 Key Information – Standard Legal Network, LLC
TABLE 109 Key Information – LegalPRO Systems, Inc.
TABLE 110 Key Information – Kroll, LLC
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Insolvency Software Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Insolvency Software Market
FIG 4 Porter’s Five Forces Analysis – Insolvency Software Market
FIG 5 North America Insolvency Software Market share by Component, 2022
FIG 6 North America Insolvency Software Market share by Component, 2030
FIG 7 North America Insolvency Software Market by Component, 2019 - 2030, USD Million
FIG 8 North America Insolvency Software Market share by Organization Size, 2022
FIG 9 North America Insolvency Software Market share by Organization Size, 2030
FIG 10 North America Insolvency Software Market by Organization Size, 2019 - 2030, USD Million
FIG 11 North America Insolvency Software Market share by Application, 2022
FIG 12 North America Insolvency Software Market share by Application, 2030
FIG 13 North America Insolvency Software Market by Application, 2019 - 2030, USD Million
FIG 14 North America Insolvency Software Market share by Vertical, 2022
FIG 15 North America Insolvency Software Market share by Vertical, 2030
FIG 16 North America Insolvency Software Market by Vertical, 2019 - 2030, USD Million
FIG 17 North America Insolvency Software Market share by Country, 2022
FIG 18 North America Insolvency Software Market share by Country, 2030
FIG 19 North America Insolvency Software Market by Country, 2019 - 2030, USD Million
FIG 20 SWOT Analysis: Themis Solutions Inc.
FIG 21 SWOT Analysis: Aryza Ltd.
FIG 22 SWOT Analysis: Stretto, Inc.
FIG 23 SWOT Analysis: Epiq Systems, Inc.
FIG 24 SWOT Analysis: Turnkey Computer Technology Ltd
FIG 25 SWOT Analysis: Panther Software, LLC
FIG 26 SWOT Analysis: Fastcase, Inc.