Consumer Credit Market 2019-2029 Precise Outlook- Experian Information Solutions, Inc., TransUnion LLC, Equifax, Inc., Barclay

Consumer Credit Market Snapshot:

The consumer credit market was valued at USD 6.8 trillion in 2019 and is expected to grow at a CAGR of 4.9%. TransUnion, a Financial Services company, revealed that America's consumer credit card market witnessed a delinquency rate of 5.4% in 2018 compared to 2017. Therefore, flattening of the delinquency rate due to the balanced approach by lenders is eventually enhancing the consumer credit market performance by increasing the average consumer balance.

A recent marketing research report added to the repository of 'Straits Research' is an in-depth analysis of the worldwide Consumer Credit Market. On the idea of historic growth analysis and current scenario of Consumer Credit marketplace, the report intends to supply actionable insights on Global market growth projections. Authenticated data presented within the report is predicated on findings of in-depth primary and secondary research. Insights are drawn from data function excellent tools that facilitate a deeper understanding of multiple aspects of the worldwide Consumer Credit market.

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 the market growth.

Over the past few years, a significant increase is witnessed in the adoption of cashless transactions among all industry verticals. The growth can be attributed to the increasing government initiatives to promote cashless transactions in order to improve productivity and efficiency. For instance, in October 2018, the Government of India launched the Digital India initiative, which promotes the cashless transaction. Moreover, the increasing penetration rate of smartphones and ATM machines fuels the market growth.

Close to 14.8% of the U.S. households have used payday and vehicle title loans in the 2017 year, as per the U.S. Government Survey. About 41 Texas municipalities have put forth business regulations on payday lending and vehicle title lending. Authorities in Dallas, El Paso, Houston, and San Antonio have imposed limits on the number of rollovers and the repetitive loans, and other requirements. Vehicle loan arrangers are regulated and subject to licensing, reporting, and needs to offer consumers with disclosures about repayment and re-borrowing rates. 

Get a Sample Copy of this report with the latest Industry trends and COVID-19 Impact: 
https://straitsresearch.com/report/consumer-credit-market/request-sample

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

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.

View Full Report @ https://straitsresearch.com/report/consumer-credit-market/

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 2019 to 2026
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 the Report:
What is the current scenario of the Global Consumer Credit market? How is the market going to prosper throughout the forecast period?
What are the emerging technologies and related tools that are going to profit the market?
What is the current size of the Global Consumer Credit Market?
Which segments are the fastest growing and the largest in the market? What is their market potential?
What are the driving factors contributing to market growth during the short, medium, and long term?

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This release was published on openPR.