Government Initiatives are Contributing to the Growth of the Global Microfinance Market

Global microfinance market is growing at a significant CAGR of around 14.8% during the forecast period (2024-2031). The market growth is driven by increasing government support, and continuous establishment of microfinance institutions across the globe. Additionally, government initiatives for women's empowerment are also contributing to the market growth. The global microfinance market is segmented by service type (group and individual micro-credit, insurance, leasing, and others) and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).

Get Free Sample link @ https://www.omrglobal.com/request-sample/microfinance-market

Market Dynamics

The group and individual micro-credit segment is anticipated to hold a major share during the forecast period, owing to the increase in the number of business loans to small and medium enterprises. Additionally, the rising government initiatives in driving the micro, small, and medium enterprises (MSME) in emerging economies, such as India.

North America and Europe are expected to project considerable growth in the market during the forecast period. The growth of the European market is attributed to the market expansion in countries such as Germany, UK, and Switzerland.

Furthermore, the US contributes significantly to the growth of the North American microfinance market, attributed to the presence of financial bodies, such as the Federal Reserve System of the US. Kiva and Accion International are among the leading microfinance institutes in the country.

Full report of Microfinance Market available @ https://www.omrglobal.com/industry-reports/microfinance-market

The major players in the global microfinance market include Accion International, Bandhan Bank Ltd., Bangladesh Rural Advancement Committee (BRAC), Grameen Bank, Jamii Bora Bank, Kiva Microfunds, and National Bank for Agriculture and Rural Development (NABARD), among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

Recent Developments

In April 2024, the Competition Commission of India (CCI) approved the acquisition of 10.39% shareholding of Annapurna Finance Private Limited and subscription to its certain debentures by Piramal Alternatives Trust, of Piramal Enterprises Ltd.
In July 2024, the Union Budget for 2024-25, the microfinance industry was provided special funding, and tax relief on affordable housing.

Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/microfinance-market

Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

This release was published on openPR.