DUBLIN, April 08, 2022–(BUSINESS WIRE)–The “Consumer Credit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to from ResearchAndMarkets.com offer.
The global consumer credit market reached a value of US$10.45 billion in 2021. Looking ahead, the publisher expects the market to reach US$13.96 billion by 2027, with a CAGR of 5% in 2022-2027.
Keeping in mind the uncertainties of COVID-19, we continuously monitor and assess the direct and indirect influence of the pandemic on different end-use sectors. This information is included in the report as a major market contributor.
Consumer credit refers to short and medium term personal loans taken out by individuals to finance the purchase of goods and services for personal consumption. A financing commission is invoiced for the sanction of credit or the extension of existing credit which can be presented in the form of a cash loan or by a seller in the form of a sales credit. They are generally available in the form of non-revolving loans which are repaid in a specific number of installments and revolving loans which include car loans, consumer goods, home repairs and personal loans.
The significant growth in the banking, financial services and insurance (BFSI) sector is one of the key factors creating a positive outlook for the market. Furthermore, the high economic growth of micro-enterprises, especially in developing countries, is also driving the growth of the market. Banks and other financial institutions are investing in micro, small and medium enterprises (MSMEs) to minimize the credit gap with local suppliers.
Additionally, retail banking professionals are embracing credit data that processes information related to cash flow and portfolio-level analytics. Credit data in such cases helps manage individual credit files, real-time pricing and capital management of multi-asset portfolios and minimize enterprise-wide risk through consistency, automation and transparency. Additionally, the growing use of social media platforms by consumer credit agencies for better connectivity and market penetration is contributing to the growth of the market. These platforms help expand the consumer base, launch media campaigns, and launch new products.
Answers to key questions in this report:
How has the global consumer credit market behaved so far and how will it behave in the years to come?
What are the main regional markets?
What has been the impact of COVID-19 on the global consumer credit market?
What is the market breakdown by type of loan?
What is the market breakdown by type of service?
What is the market breakdown by issuer?
What is the market breakdown by payment method?
What are the different stages of the industry value chain?
What are the industry drivers and key challenges?
What is the structure of the global consumer credit market and who are the main players?
How competitive is the industry?
Main topics covered:
2 Scope and methodology
3 Executive summary
4.2 Key Industry Trends
5 Global consumer credit market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakdown by Credit Type
7 Market Breakdown by Service Type
8 Breakdown of the market by issuer
9 Market Breakdown by Payment Method
10 Market Breakdown by Region
11 SWOT Analysis
12 Value chain analysis
13 Analysis of the five forces of carriers
14 Competitive landscape
14.1 Market structure
14.2 Key Players
14.3 Profiles of Key Players
For more information on this report, visit https://www.researchandmarkets.com/r/ke3zvt
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220408005308/en/
Laura Wood, Senior Press Officer
For EST business hours, call 1-917-300-0470
For US/CAN call toll free 1-800-526-8630
For GMT office hours call +353-1-416-8900