$209.13 million growth in microloan market size due to increasing adoption of advanced technologies in microfinance

NEW YORK, September 5, 2022 /PRNewswire/ — The “Microcredit market The Forecast and Analysis 2022-2026 report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years. The Difference of potential growth for the microcredit market between 2021 and 2026 is $209.13 million, according to Technavio’s latest market analysis report. The report predicts that the market will experience a deceleration in growth at a CAGR of 16.89%. Technavio categorizes the global microcredit market as part of the global market specialized consumer services market. Our report provides detailed insights on value chain analysis for Microcredit Market which vendors can leverage to gain a competitive edge during the forecast period. The data available in our value chain analytics segment can help vendors reduce costs and improve customer services over the forecast period.

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Key Market Dynamics:

  • market engine: Adoption of advanced technologies in microfinance is one of the main drivers of growth in the microcredit market. Some prominent players are bringing new technologies to increase their market share and provide customers with a better experience, such as the flexibility to repay loans through their mobile phones and avoid the risks associated with funds in transit. Additionally, loans can be quickly repaid using digital technology, which minimizes liquidity risk, which is driving increased digitalization in the global microcredit market and is expected to fuel market growth during of the forecast period.
  • Market challenge: Lack of awareness of financial services is one of the major factors hindering the growth of the microcredit market. MFIs are mainly beneficial to low income groups. However, they face major challenges due to the lack of public awareness of financial services. Most MFI clients do not have sufficient knowledge of how microcredit works and many of them do not even understand the loan process. As a result, lack of awareness is becoming a major challenge in microcredit operations, which will negatively impact the growth of the global microcredit market over the forecast period.

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Key Market Segment Highlights:

This report covers in detail the segmentation of the microloans market by Ssource (Banks, NBFC and MFIs) and Geography (APAC, Europe, North America, Middle East and Africaand South America).

  • Regional Opportunities: 47% of the market growth will come from APAC during the forecast period. China, Indiaand South Korea are the key markets for the microcredit market in APAC. Market growth in this region will be slower than market growth in South America. The growing adoption of online lending platforms will facilitate the growth of the microloan market in APAC region during the forecast period.
  • Revenue Generating Segment Highlights: The growth in the microloan market share in the banking segment will be significant during the forecast period. Microcredit banks provide significant benefits to low-income groups, which is expected to increase the demand for microcredit over the forecast period. Moreover, the need to provide easy credit and offer small loans to customers without any collateral further increases the preference for microcredit banks among people, which, in turn, fuels the growth of the market in question, and the same trend is expected in the coming years.

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Some companies mentioned with their offers

    • Action International
    • Bajaj Finserv Ltd.
    • Bandhan Bank Ltd.
    • Bluevine Inc.
    • Equitas Small Finance Bank Ltd.
    • Small Corporate Bank ESAF
    • Fincare Small Finance Bank Ltd.
    • Fusion Micro Finance Ltd.
    • HDB Financial Services Ltd.
    • ICICI Bank Ltd.
    • Kiva Microfunds
    • Larsen and Toubro Ltd.
    • Lendio Inc.
    • Lendr.Online LLC
    • Oakham Ltd.
    • On Deck Capital Inc.
    • panamax inc.
    • Small Industries Development Bank of India
    • Ujjivan Small Finance Bank Ltd.
  • Access vendor-specific product offerings and strategic initiatives by downloading the sample PDF

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Scope of the microloan market

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Slowing down to a CAGR of 16.89%

Market Growth 2022-2026

$209.13 million

Market structure

Fragmented

Annual growth (%)

18.52

Regional analysis

APAC, Europe, North America, Middle East and Africa and South America

Successful market contribution

Asia-Pacific at 47%

Main consumer countries

United States, China, India, South Korea and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Accion International, Bajaj Finserv Ltd., Bandhan Bank Ltd., Bluevine Inc., Equitas Small Finance Bank Ltd., ESAF Small Finance 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., Lendr.Online LLC, Oakam Ltd., On Deck Capital Inc., Panamax Inc., Small Industries Development Bank of India and Ujjivan Small Finance Bank Ltd.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

  • Summary
  • Market landscape
  • Market sizing
  • Five forces analysis
  • Market segmentation by source
  • Customer landscape
  • Geographic landscape
  • Supplier Landscape
  • Vendor analysis
  • Annex

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