The “Global Microcredit Market Report 2023” report has been added to ResearchAndMarkets.com offer.
DUBLIN, September 18, 2023 /PRNewswire/ — The global microcredit market is experiencing robust growth, with projections indicating substantial expansion in the coming years. In 2022, the market has reached a valuation of $168.89 billionand it is expected to increase further until $191.86 billion in 2023, reflecting a remarkable compound annual growth rate (CAGR) of 13.6%. In the future, the microcredit market is poised to reach $304.87 billion by 2027, driven by a CAGR of 12.3%.
For industry participants and stakeholders, the Microcredit Market research report offers comprehensive information and statistics. This report encompasses global market size, regional market shares, competitor analysis, detailed market segments, emerging trends and opportunities, providing essential data for success in the microcredit industry. It presents an in-depth analysis of the current industry landscape and future scenarios.
A notable trend in the microcredit market is the emergence of innovative microfinance solutions. Leading companies operating in the microcredit field are launching new products to maintain their competitive advantage. For example, in August 2022Umba Digital Bank, a Africainstitution based in Singapore, acquired Daraja Microfinance Bank in Kenya, thereby improving the reach and portfolio of the microfinance banking sector. Such innovations are reshaping the microcredit landscape.
The growing demand for microcredit services among various end-users, especially micro and small businesses, is expected to be a key driver of market growth. These small and medium-sized businesses play a vital role in the economy, and microcredit provides essential financial support for their growth and prosperity.
Notably, the World Bank estimates that around 65 million businesses, including 40% of formal micro, small and medium enterprises (MSMEs) in developing countries, need around $5.2 trillion in funding each year. This represents a significant opportunity for the microcredit market to meet the financial needs of these businesses.
Additionally, initiatives such as the MSME Growth, Innovation and Inclusive Finance Project in Indiaaimed at lending $1.5 billion to startups by 2025, highlight the growing demand for microcredits among micro and small businesses. The microcredit market should therefore prosper.
In 2022, Asia Pacific has become the largest region in the microcredit market, and the report covers various regions including Asia Pacific, Western Europe, Eastern Europe, North America, South AmericaTHE Middle EastAnd Africaproviding a comprehensive overview of the global microcredit landscape.
The main players in the microcredit market are
- Action International
- Bajaj Finserv Ltd.
- Bandhan Bank Ltd.
- BlueVine Inc.
- Equitas Petite Banque Financière Ltd.
- ESAF Small financing bank
- Fincare Small Finance Bank Ltd.
- Fusion Micro Finance Ltd.
- HDB Financial Services Ltd.
- ICICI Bank Ltd.
- Kiva Microfunds
- Larsen and Toubro Ltd.
- Lendio Inc.
- Ujjivan Small Finance Bank Ltd.
- Oakam Ltd.
- On Deck Capital Inc.
- Panamax Inc.
- Small Industries Development Bank India
Key topics covered:
1. Summary
2. Characteristics of the microcredit market
3. Microcredit Market Trends and Strategies
4. Microcredit market – Macroeconomic scenario
4.1. Impact of COVID-19 on the microcredit market
4.2. The impact of the war between Ukraine and Russia on the microcredit market
4.3. Impact of high inflation on the microcredit market
5. Microcredit Market Size and Growth
5.1. Historical global microcredit market, 2017-2022, in billions of dollars
5.1.1. Market drivers
5.1.2. Market Restrictions
5.2. Global Microcredit Market Forecast, 2022-2027F, 2032F, Billion USD
5.2.1. Market drivers
5.2.2. Market Restrictions
6. Microcredit Market Segmentation
6.1. Global Microcredit Market, Segmentation by Vendor, History and Forecast, 2017-2022, 2022-2027F, 2032F, Billion USD
- Banks
- Micro Finance Institute (IMF)
- NBFC (Non-Banking Financial Institutions)
- Other supplier
6.2. Global Microcredit Market, Segmentation by End-User, Historical and Forecast, 2017-2022, 2022-2027F, 2032F, Billion USD
- Small enterprises
- Micro-enterprises
- Solo and independent entrepreneurs
7. Regional and Country Analysis of Microcredit Market
7.1. Global Microcredit Market, Segmented by Region, Historical and Forecast, 2017-2022, 2022-2027F, 2032F, Billion USD
7.2. Global Microcredit Market, Split By Country, History and Forecast, 2017-2022, 2022-2027F, 2032F, Billion USD
For more information about this report, visit https://www.researchandmarkets.com/r/au4ely
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