Press release
Consumer Credit Market Trends That Will Shape the Next Decade: Insights from Rise Of AI And Data Analytics In Pioneering Products
Consumer Credit Market
What Is the Expected CAGR for the Consumer Credit Market Through 2025?
There has been a significant expansion in the size of the consumer credit market in the preceding years. It is projected to escalate from $11.74 billion in 2024 to $12.48 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this past period growth include economic advancement and wealth, broader availability of financial services, evolving lifestyle and consumption habits, trends in the housing market, along with promotional and marketing tactics.
What's the Projected Size of the Global Consumer Credit Market by 2029?
In the coming years, a significant expansion is projected for the consumer credit market, which is anticipated to reach $15.99 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.4%. This predicted surge during the forecasted period can be traced back to factors such as shifts in demographics and millennial conduct, expenses associated with education and healthcare, innovative credit solutions, worldwide financial patterns, and the regulatory situation. The forecast period is also expected to witness prevalent trends like initiatives in open banking, disruptive fintech, education on credit and financial wellness, trends influenced by the pandemic, and sustainable finance.
View the full report here:
https://www.thebusinessresearchcompany.com/report/consumer-credit-global-market-report
Top Growth Drivers in the Consumer Credit Industry: What's Accelerating the Market?
The consumer credit market's expansion is anticipated to be propelled by the escalating trend of cashless transactions. These transactions represent digital financial exchanges between two parties through a payment gateway, eliminating the need for actual cash. Individuals who embrace cashless payments are more likely to receive loans from Fintech lenders since their cashless payment record offers trustworthy data, making loan application screening more efficient. Furthermore, these individuals may enjoy lower interest rates and decreased default risks, making cashless payments an attractive option. As an illustration, data from Bangko Sentral ng Pilipinas, a central bank based in the Philippines, showed that the percentage of digital payment transactions relative to total monthly retail payments in the Philippines rose from 42.1% in 2022 to 52.8% in 2023. Hence, the increasing prevalence of cashless transactions is a key contributor to the growth of the consumer credit market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9207&type=smp
What Trends Will Shape the Consumer Credit Market Through 2029 and Beyond?
The latest trend that is gaining traction in the consumer credit market hinges on product innovations. In a bid to solidify their market standing, leading enterprises operating in the consumer credit sector are turning their attention to creating revolutionary solutions utilizing Artificial Intelligence (AI) and data analytics. LoanDepot Inc., as an example, unveiled a pioneering digital home equity line of credit (HELOC) in November 2022. The innovation offers a clean interface and rapid service processing, capable of delivering results as quick as seven days from the date of the application to the finalization. Not only can clients obtain an hassle-free online rate quote within mere minutes, they can also pre-qualify without any impact on their credit scores. This unique tech-enabled platform harnesses the power of digital tools and data, offering homeowners an effective fiscal solution to counteract inflation and escalating consumer debt, all while providing an electronic convenience that traditional HELOC products lack.
What Are the Main Segments in the Consumer Credit Market?
The consumer credit market covered in this report is segmented -
1) By Service Type: Credit Services, Software And IT Support Services
2) By Credit Type: Revolving Credits, Non-Revolving Credits
3) By Issuer: Banks And Finance Companies, Credit Unions, Other Issuers
4) By Payment Method: Direct Deposit, Debit Card, Other Payment Methods
5) By Application: Individual, Enterprise, Other Applications
Subsegments:
1) By Credit Services: Credit Counseling, Credit Repair Services, Debt Management Services, Credit Monitoring Services
2) By Software And IT Support Services: Credit Management Software, Loan Origination Software, IT Support For Credit Services, Fraud Detection And Prevention Software
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=9207&type=smp
Which Top Companies are Driving Growth in the Consumer Credit Market?
Major companies operating in the consumer credit market include Industrial and Commercial Bank of China Limited, JPMorgan Chase & Co., China Construction Bank Corporation, The Bank of America Corporation, WELLS FARGO & CO., HSBC Holdings plc, Citigroup Inc., American Express Company, Mitsubishi UFJ Financial Group Inc., BNP Paribas SA, Capital One Financial Corporation, Barclays plc, Deutsche Bank AG, PayPal Holdings Inc., Synchrony Financial, Discover Financial Services, Navient Corporation, Hilltop Holdings Inc., Affirm Holdings Inc., Afterpay Touch Group Ltd., Zip Co. Limited, Sezzle Inc., Klarna Bank AB
Which Regions Will Dominate the Consumer Credit Market Through 2029?
North America was the largest region in the consumer credit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global consumer credit market report during the forecast period. The regions covered in the consumer credit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9207
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Consumer Credit Market Trends That Will Shape the Next Decade: Insights from Rise Of AI And Data Analytics In Pioneering Products here
News-ID: 4109046 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Credit
Credit Scores, Credit Reports & Credit Check Services Market Set for Explosive G …
Global Credit Scores, Credit Reports & Credit Check Services Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player's market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans…
Credit Repair Service Market Size in 2023 To 2029 | AMB Credit Consultants, Cred …
The Credit Repair Service market report provides a comprehensive analysis of the market-driving factors, major obstacles, and restraining factors that can impede market growth during the forecast period. This information can be particularly useful for existing manufacturers and start-ups as they develop strategies to overcome challenges and capitalize on lucrative opportunities. The report also offers detailed information about prime end-users and annual forecasts during the estimated period. This can help…
Credit Scores, Credit Reports & Credit Check Services Market is Going to Boom | …
Latest Study on Industrial Growth of Global Credit Scores, Credit Reports & Credit Check Services Market 2022-2028. A detailed study accumulated to offer Latest insights about acute features of the Credit Scores, Credit Reports & Credit Check Services market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market,…
Credit Scores, Credit Reports and Credit Check Services Market is Booming Worldw …
Credit Scores, Credit Reports and Credit Check Services Market - Global Outlook and Forecast 2022-2028 is the latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities, and leveraging with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Credit Scores, Credit Reports and Credit Check Services Market. Some of…
Credit Scores, Credit Reports & Credit Check Services Market is Booming With Str …
The latest study released on the Global Credit Scores, Credit Reports & Credit Check Services Market by AMA Research evaluates market size, trend, and forecast to 2027. The Credit Scores, Credit Reports & Credit Check Services market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends,…
Credit Scores, Credit Reports & Credit Check Services Market May See Big Move | …
Global Credit Scores, Credit Reports & Credit Check Services Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure…
