Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Micro Lending Market size is expected to reach $65.4 billion by 2028, rising at a market growth of 12.8% CAGR during the forecast period.
The Micro Finance Institutes (MFIs) segment is showcasing a CAGR of 14.9% during (2022 - 2028). Peer-to-peer lenders and credit unions, amongst other organizations, are included in this sector along with others that provide micro lending services in order to offer financial support to individual and small business owners. It is expected that the expansion of the category will be driven by the increasing demands for peer-to-peer lending all over the world.
The Micro, Small & Medium Enterprises segment acquired maximum revenue share in the Global Micro Lending Market by End-user in 2021 thereby, achieving a market value of $42.8 billion by 2028. The expansion of this segment may be attributed to the increasing number of initiatives that have been made by governmental authorities and other organizations to provide assistance to small and medium-sized businesses.
The Asia Pacific market dominated the Global Micro Lending Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $24.9 billion by 2028. The Europe market is exhibiting a CAGR of 12.1% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 12.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/micro-lending-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Funding Circle Limited (Funding Circle Holdings plc), On Deck Capital, Inc. (Enova International, Inc.), American Express Kabbage Inc. (American Express Company), LendingClub Bank (LendingClub Corporation), Zopa Bank Limited, Biz2Credit, Inc., Lendio, Inc., Bluevine Capital, Inc., Fundera, Inc. (NerdWallet), and StreetShares, Inc.
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By End User
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