Microfinance Market Statistics, Size Will Hit USD 496.90 Billion By 2030 | Growth With Recent Trends & Demand

According to the report published by Allied Market Research, the global microfinance market was estimated at $178.84 billion in 2020 and is expected to hit $496.90 billion by 2030, registering a CAGR of 10.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

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Microfinance is a type of financial service provided to people looking to lend money to earn potentially high returns and borrowers who have no access to financial services such as banks or credit unions. Microfinance can be done to single microloans, and to diversify risk exposure, others invest across a portfolio of microloans. The services in the market are designed to become more affordable to poor and socially marginalized customers, households to have a wide variety of high-quality financial products and services, and to help them become self-sufficient.

Increase in adoption of microfinance in the developing nations, shift from traditional lending to microfinance, and lesser operating costs & low market risks drive the growth of the global microfinance market. On the other hand, high interest on small amount and shorter repayment time impede the growth to some extent. However, adoption of advance technology in micro financing is expected to create lucrative opportunities in the sector.

COVID-19 Scenario

Revenue of the microfinance sector is more likely to remain under pressure even post lockdown, as social distancing norms are likely to continue, which discourages THE usage of mass transit systems.
However, on the other hand, decrease in physical banking among industry verticals is expected to boost the growth of the microfinance market to some extent, thereby giving a mixed impact to the market altogether.

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The global microfinance market is analyzed across provider, end-user, and region. Based on provider, the banks segment accounted for the major share in 2020, holding nearly half of the global market. The Micro Finance Institute (MFI) segment, however, would exhibit the fastest CAGR of 11.9% throughout the forecast period.

Based on end-user, the small enterprises segment generated the highest share in 2020, accounting for nearly three-fourths of the global market. The solo entrepreneurs or self-employed segment, on the other hand, would cite the fastest CAGR of 11.9% from 2021 to 2030.

Based on region, the market across Asia-Pacific held the lion's share in 2020, garnering around half of the global market. The same region is also expected to cite the fastest CAGR of 11.2% by the end of 2030. The other provinces studied in the report include North America, Europe, and LAMEA.

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The key market players analyzed in the global microfinance market report include Bank Rakyat Indonesia (BRI), Bandhan Bank, CDC Small Business Finance, Cashpor Micro Credit, Grameen America, Pacific Community Ventures Inc., Grameen Bank, Annapurna Finance (P) Ltd, Kiva, and Madura Microfinance Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

Key Benefits For Stakeholders

The study provides in-depth analysis of the global microfinance market share along with current trends and future estimations to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the global microfinance market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the microfinance market.
An extensive analysis of the key segments of the industry helps to understand the microfinance market trends.
The quantitative analysis of the global microfinance market forecast from 2021 to 2030 is provided to determine the market potential.

Microfinance Market Report Highlights

By Service Type

GROUP AND INDIVIDUAL MICRO CREDIT
LEASING
MICRO INVESTMENT FUNDS
INSURANCE
SAVINGS AND CHECKING ACCOUNTS
OTHERS

By Providers

Banks
Non-banks

By Region

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Rest of Europe)
Asia-Pacific (Australia, Japan, India, China, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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