Consumer Credit Market was valued at USD 6.8 trillion in 2019 and is expected to grow at a CAGR of 4.9% | StraitsResearch

Consumer credit is a loan taken by a borrower to purchase goods and services. Any type of personal loan taken to buy everyday goods and services can be considered as consumer credit. Consumer credit is extended by banks, financial institutions, and Non-Banking Financial Companies (NBFCs) that enable consumers to purchase goods immediately and pay off the cost over time with interest. It allows the borrowers to get advance on income based on their credit scores and transaction history.

The increasing adoption of cashless transactions, growing demand for loans, owing to a surge in disposable income, and rising adoption of automation among all industry verticals fuels the market growth. However, cybercrime and operational failures, political uncertainties, and unpredictable lender behavior hinder market growth. Consumer Credit Market is predicted to expand rapidly altogether development areas over the forecast period between 2021 and 2029. Consumer Credit Market report focuses on the main drivers and restraints for the key players and presents competition status with growth prospects. Consumer Credit Market report is professional and in-depth research by experts on the present state of the Consumer Credit Industry. Consumer Credit marketing research report provides the most recent industry data and industry future trends, allowing you to spot the products and end users driving Revenue growth and profitability.

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The Major Players Covered in this Report:
Experian Information Solutions, Inc.
TransUnion LLC
Equifax, Inc.
Barclay
BNP Paribas
China Construction Bank
Citigroup
Deutsche Bank
HSBC
Industrial and Commercial Bank of China (ICBC)
JPMorgan Chase
Mitsubishi UFJ Financial
Wells Fargo

Consumer Credit Market: Segmentation:
By Type
Cloud
On-Premise

By Application
Personal Loan
Vehicle Loan
Student Loan

View this report with a detailed description and TOC @ https://straitsresearch.com/report/consumer-credit-market/toc

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Consumer Credit in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Consumer Credit market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Consumer Credit and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Consumer Credit. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Impact of COVID-19:
COVID-19 has had an unprecedented effect across all industry verticals globally. The market of consumer credit has witnessed a significant rise amid the pandemic on account of the rising demand for cashless transactions. Moreover, rising online shopping post-pandemic COVID-19 to maintain the social distancing norms is boosting the demand for consumer credit day by day.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Consumer Credit Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Consumer Credit Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Consumer Credit Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?

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