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.
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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.
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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.
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Micro Lending Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 16.89%
Market growth 2022-2026
$ 209.13 million
YoY growth (%)
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
Leading companies, competitive strategies, consumer engagement scope
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.
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.
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Key Topics Covered:
Five Forces Analysis
Market Segmentation by Source
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