Saudi Arabia's Microfinance Sector Poised to Reach $1.68 Billion by 2031

According to the report published by Allied Market Research, the Saudi Arabia microfinance market garnered $0.68 billion in 2021, and is estimated to generate $1.68 billion by 2031, manifesting a CAGR of 9.4% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

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Covid-19 Scenario:

The outbreak of the COVID-19 pandemic had a moderate impact on the growth of the microfinance market as the pandemic enabled lending activities including past-due or non-collectible loans to become an implicit part of the financial sector. Hence, the need to implement new software for debt management in microfinance institutions (MFIs) increased considerably.
Furthermore, various microfinance institutes in Saudi Arabia were stopped by the government, owing to the growing number of COVID patients. In addition, various other digital platforms were adopted by microfinance companies to sell their products and attract their customers, which negatively impacted the growth of Saudi Arabia's microfinance market opportunities.
Moreover, the pandemic caused numerous challenges for the microfinance market players and microfinance institutes, which include difficulties in disbursements, collection of reimbursements, meeting with clients face-to-face, and reorganizing internal systems and the flow of work.
In addition, microfinance providers faced a serious liquidity crunch during COVID-19, the gap between revenue and operational expenditures is increasing with depleting reserves. This shrinking liquidity may not create a problem for large MFIs or those with strong stable backups, but is sufficient to haunt small and mid-size MFIs.

The research provides a detailed segmentation of the Saudi Arabia microfinance market based on provider and end user. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on provider, the banks segment held the highest share in 2021, accounting for nearly half of the Saudi Arabia microfinance market, and is expected to continue its leadership status during the forecast period. However, the micro finance institute (MFI) segment is expected to register the highest CAGR of 10.8% from 2022 to 2031.

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Based on end user, the small enterprises segment accounted for the highest share in 2021, contributing to nearly two-fifths of the Saudi Arabia microfinance market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the solo entrepreneurs or self-employed segment is expected to manifest the highest CAGR of 10.8% from 2022 to 2031.

Leading market players of the Saudi Arabia microfinance market analyzed in the research include Alinma bank, Al Rajhi bank, ANB, Bank Albilad, Banque Saudi Fransi, Gojo & Company, Inc., Kiva, Riyad Bank, SABB, Saudi Arabia, SNB. These players have adopted product development and product launch as their key development strategies in the aircraft engine industry. Moreover, collaborations and acquisitions are expected to enable leading players to enhance their product portfolios and expand into different regions.

Key Benefits for Stakeholders

The study provides an in-depth analysis of the Saudi Arabia microfinance market forecast along with current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on Saudi Arabia microfinance market analysis is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the Saudi Arabia microfinance market outlook.
The quantitative analysis of the Saudi Arabia microfinance market trends from 2022 to 2031 is provided to determine the market potential.

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Key Market Segments

By Provider
Banks
Micro Finance Institute (MFI)
NBFC (Non-Banking Financial Institutions)
Others

By End-User
Small Enterprises
Micro Enterprises
Solo Entrepreneurs or Self-Employed

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