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USD 209.13 million Growth in Micro Lending Market Size due to the Rising Adoption Of Advance Technology In Micro Financing - 17,000+ Technavio Research Reports

·6 min read

NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The "Micro Lending Market Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the micro lending market between 2021 and 2026 is USD 209.13 million, as per the latest market analysis report by Technavio. The report predicts the market to witness a decelerating growth momentum at a CAGR of 16.89%. Technavio categorizes the global micro lending market as a part of the global specialized consumer services market. Our report provides extensive information on the value chain analysis for the micro-lending market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Technavio has announced its latest market research report titled Global Micro Lending Market 2022-2026
Technavio has announced its latest market research report titled Global Micro Lending Market 2022-2026

For insights on the scope and value chain analysis, Read a FREE Sample Report

Key Market Dynamics:

  • Market Driver: The adoption of advanced technology in microfinancing is one of the key drivers propelling the micro lending market growth. 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 avoiding the risks of cash-in-transit. Moreover, loans may be quickly repaid using digital technology, minimizing cash-related hazards, which is causing a rise in digitization across the global micro lending market and is expected to fuel the market growth during the forecast period.

  • Market Challenge: Lack of awareness about financial services is one of the key factors challenging the micro lending market growth. MFIs are majorly beneficial for low-income groups. However, they face major challenges due to the lack of awareness among the population about financial services. Most MFI customers do not have sufficient knowledge of how micro lending works and many of them do not even understand the loan process. As a result, lack of awareness is becoming a key challenge in micro lending operations, which will negatively impact the global micro lending market growth during the forecast period.

To learn about additional key market dynamics, View our FREE Sample Report right now!

Key Market Segment Highlights:

This report extensively covers micro lending market segmentation by Source (Banks, NBFCs, and MFIs) and Geography (APAC, Europe, North America, Middle East and Africa, and South America).

  • Regional Opportunities: 47% of the market's growth will originate from APAC during the forecast period. China, India, and South Korea are the key markets for the micro lending market in APAC. Market growth in this region will be slower than the growth of the market in South America. The rising adoption of online platforms for lending will facilitate the micro lending market growth in APAC over the forecast period.

  • Revenue-generating Segment Highlights: The micro lending market share growth in the banks segment will be significant during the forecast period. Micro lending banks offer significant benefits to the low-income groups, which is expected to increase the demand for micro lending during the forecast period. Moreover, the need to provide easy credit and offer small loans to customers without any collateral further increases the preference for micro lending banks among people, which, in turn, fuels the growth of the market in focus, and the same trend is expected in the coming years.

Request PDF Sample Report for additional insights on segment-wise contribution and regional opportunities

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Micro Lending Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 16.89%

Market growth 2022-2026

$ 209.13 million

Market structure

Fragmented

YoY growth (%)

18.52

Regional analysis

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

Performing market contribution

APAC at 47%

Key consumer countries

US, China, India, South Korea, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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 inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

  • Executive Summary

  • Market Landscape

  • Market Sizing

  • Five Forces Analysis

  • Market Segmentation by Source

  • Customer landscape

  • Geographic Landscape

  • Vendor Landscape

  • Vendor Analysis

  • Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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