Press release
Microlending Market Size, Outlook And Industry Analysis Report 2024 To 2033
Microlending Market
Market Size And Growth Forecast:
The microlending market size has grown rapidly in recent years. It will grow from $190.29 billion in 2023 to $214.96 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to financial inclusion initiatives, entrepreneurship and small businesses, poverty alleviation programs, community development, women's empowerment.
The microlending market size is expected to see rapid growth in the next few years. It will grow to $345.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to digital financial services adoption, impact investing and social finance, emergence of fintech solutions, climate-smart lending, government support programs. Major trends in the forecast period include use of alternative data for credit assessment, employment of robotic process automation (RPA), focus on financial inclusion and rural microlending, flexible repayment models and microfinance products, regulatory framework development.
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Market Segmentation:
The microlending market covered in this report is segmented -
1) By Provider: Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), Other Provider
2) By End-User: Small Enterprises, Micro Enterprises, Solo entrepreneurs And self-employed
Major Driver - The Rising Demand For Microlending Transforming Small And Medium Enterprises
The rising need for micro-lending among end-users, including micro-enterprises and small enterprises is expected to propel the growth of the microlending market going forward. Small and medium enterprises are organizations whose personnel and revenue numbers are below certain limits. Microlending helps small and medium enterprises to grow through small-dollar lending and helps them to prosper in their business. For instance, according to the world bank, a US-based international financial institution, and estimates of The International Finance Corporation (IFC), a member of the world bank group, it is estimated that approximately 65 million firms, and 40% of formal micro, small and medium enterprises (MSMEs) in developing countries, are in financial need of $5.2 trillion every year, which is equal to 1.4 times the current level of the global MSME lending. Further, MSME Growth, Innovation, and Inclusive Finance Project improved access to finance for MSMEs in India, which aims in lending $1.5 billion to startups by 2025. Therefore, rising demand for micro-lending among end-users, including micro-enterprises and small enterprises drives the microlending market.
Competitive Landscape:
Major companies operating in the microlending market report are Larsen and Toubro Ltd., ICICI Bank Ltd., Bajaj Finserv Ltd., HDB Financial Services Ltd., Bandhan Bank Ltd., LendingClub Corporation, Faulu Microfinance Bank Limited, MicroVest LLC, BlueVine Inc., Kiva Microfunds, Panamax Inc., Lendio Inc., Fusion Micro Finance Ltd., Accion International, Equitas Small Finance Bank Ltd., ESAF Small Finance Bank, Fincare Small Finance Bank Ltd., Ujjivan Small Finance Bank Ltd., Oakam Ltd., On Deck Capital Inc., Small Industries Development Bank of India, One Acre Fund, Samia African Microfinance Limited, FINCA International Impact Investments, Fonds National de Coopératives de Développement Economique et Sociale Agricole, Gray Ghost Ventures LLC, Elevar Equity LLC, Incofin Investment Management plc, ResponsAbility Investments AG, ImpactAssets Fund
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Top Trend - Product Innovation Drives The Microlending Market
Major companies operating in the microlending market are developing innovative products, such as online platforms, to meet larger customer bases, increase sales, and increase revenue. An online platform refers to a digital environment or space accessible over the internet that facilitates the exchange of information, services, or products between users or between users and the platform itself. For instance, in June 2023, TMEDE, a Greece-based microlending institution, launched the Microlending Platform. The Microlending Platform, accessible through mobile or web applications, uniquely empowers users to seamlessly apply for loans directly from their mobile devices or PCs with just a few clicks. Distinguishing itself with rapid processing, approvals, and disbursements, TMEDE Microfinance Solutions ensures loans up to 25,000 euros are provided in less than 24 hours. This distinctive feature addresses diverse financial needs, including investment requirements, working capital, or settling outstanding debts, with unparalleled speed and convenience.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Microlending Market Characteristics
3. Microlending Market Trends And Strategies
4. Microlending Market - Macro Economic Scenario
5. Microlending Market Size And Growth
…..
27. Microlending Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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