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Personal Loans Global Market Size is Expected to Reach $234.6 Billion at a CAGR of 30.4% By 2027 | Avant LLC, Barclays PLC, DBS Bank Ltd, The Goldman Sachs Group, Inc., LendingClub Bank
Personal Loans Market
The Business Research Company's Personal Loans Global Market Report 2023 identifies the increased demand for lending channels is expected to drive the growth of the personal loans market going forward. The increased demand for lending channels refers to a stronger desire and need for various avenues through which individuals and businesses can access loans or credit.
The global personal loans market size is expected to grow from $61.32 billion in 2022 to $81.07 billion in 2023 at a compound annual growth rate (CAGR) of 32.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The personal loans market size is expected to reach $234.6 billion in 2027 at a CAGR of 30.4%.
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Major players in the Personal Loans market are American Express Company, Avant LLC, Barclays PLC, DBS Bank Ltd, The Goldman Sachs Group, Inc., LendingClub Bank, Prosper Funding LLC, Social Finance Inc., Truist Financial Corporation, Wells Fargo & Company, LightStream, SoFi Technologies Inc., Payoff Inc., Citizens Financial Group, Inc., Marcus by Goldman Sachs, Freedom Financial Network LLC, and EarnIn.
Technological advancements are a key trend gaining popularity in the personal loans market. Major companies operating in the personal loans market frequently focus on technological advancements to stay competitive by adopting new technologies.
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The Personal Loans Market Is Segmented -
• By Type: P2P Marketplace Lending, Balance Sheet Lending
• By Loan Tenure: Long Term Loans, Medium Term Loans, Short Term Loans
• By Tenure Period: Less Than 2 Years, 2 Years To 4 Years, More Than 4 Years
• By Application: Debt Consolidation, Home Improvement, Education, Other Applications
• By End User: Employed Individuals, Professionals, Students, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Personal Loans market.
The Business Research Company's "Global Personal Loans Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Personal Loans Market Include:
1. Executive Summary
2. Personal Loans Market Characteristics
3. Personal Loans Market Trends And Strategies
4. Personal Loans Market - Macro Economic Scenario
5. Personal Loans Market Size And Growth
.....
26. Africa Personal Loans Market
27. Personal Loans Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Personal Loans Market
29. Personal Loans Market Future Outlook and Potential Analysis
30. Appendix
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